IndexIQ’s IQ Hedge Multi-Strategy Tracker (QAI - News) was one of the worst-performing funds Wednesday, July 11, shedding 4.34 percent in value as the broad stock market continued on a soft tone amid what’s starting out as a lackluster quarterly corporate earnings report season.
Wednesday, the Dow Jones industrial average dropped 45.59 points to close 0.4 percent lower at 12,604.53.
QAI, which is a hedge fund replication strategy, was also at the center of a “terrible trade” just two days prior that cost an investor some $500,000 in a market-on-close order that could have been avoided.
Also at the bottom Wednesday was the Columbia Large-Cap Growth Strategy (RWG - News), which slid 7.7 percent on the day amid thin trading volume.
On the flip side, among the best-performing funds were a flurry of energy-linked ETFs and ETNs, with the United States Natural Gas Fund (UNG - News) leading the charge, with gains of 3.58 percent. More than 12.19 million shares of UNG traded hands Wednesday.
Top 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| UNG | United States Natural Gas | 3.58% | 12,199,141 | 1,058.04 |
| TAGS | Teucrium Agricultural | 2.83% | 1,020 | 2.65 |
| BNO | United States Brent Oil | 2.70% | 28,260 | 46.08 |
| USO | United States Oil | 2.57% | 12,335,287 | 1,271.90 |
| OIL | iPath S'P GSCI Crude Oil Total Return ETN | 2.48% | 780,648 | 424.43 |
| DBE | PowerShares DB Energy | 2.40% | 50,146 | 148.13 |
| USL | United States 12 Month Oil | 2.35% | 26,320 | 126.06 |
| CAFE | iPath Pure Beta Coffee ETN | 2.30% | 2,500 | 1.42 |
| RJN | ELEMENTS Rogers International Commodity - Energy Total Return ETN | 2.21% | 15,610 | 66.71 |
| UNL | United States 12 Month Natural Gas | 2.20% | 19,436 | 42.85 |
Bottom 10 1-Day Performers, Excluding Leverage/Inverse Funds and '1,000 Shares Traded
| Ticker | Name | 1-Day Performance | 1-Day Volume | AUM ($, mm) |
| RWG | Columbia Large-Cap Growth Strategy | -7.70% | 6,405 | 6.87 |
| QAI | IQ Hedge Multi-Strategy Tracker | -4.34% | 46,979 | 205.02 |
| CVOL | C-Tracks Exchange-Traded Notes on the Citi Volatility | -4.31% | 21,600 | 6.49 |
| RING | iShares MSCI Global Gold Miners | -4.09% | 6,249 | 29.15 |
| GAZ | iPath Dow Jones-UBS Natural Gas Total Return ETN | -3.65% | 165,188 | 38.45 |
| ALUM | Global X Aluminum | -3.63% | 2,854 | 2.14 |
| VIXY | ProShares VIX Short-Term | -3.40% | 483,287 | 138.71 |
| GGGG | Global X PURE Gold Miners | -3.40% | 1,484 | 4.04 |
| VXX | iPath S'P 500 VIX Short-Term Futures ETN | -3.23% | 39,126,481 | 1,687.59 |
| VIIX | VelocityShares VIX Short Term ETN | -3.16% | 213,527 | 40.95 |
Disclaimer:All data as of 6 a.m. Eastern time the date the article is published. Data is believed to be accurate; however, transient market data is often subject to subsequent revision and correction by the exchanges.
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