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Daily ETF Roundup: YAO Debuts, JJC Surges

by Michael Johnston on October 19, 2009 | ETFs Mentioned: JJC • YAO

Equity markets continued their skyward trajectory on Monday, with most major benchmarks turning in another strong performance. The ETFdb 60 Index, a benchmark composed of the largest and most liquid exchange-traded products representing the investment universe, gained $9.44, or 0.9%, to close at $1,027.45. In relatively light trading, winners outnumbered losers by more than ten-to-one, with only four components falling for the session.

ETFdb 60 Index Monday saw the launch of a the highly anticipated Claymore/AlphaShares China All-Cap ETF (YAO), which jumped about 1.2% on volume of more than a million shares in its initial session. As its name suggests, YAO invests in Chinese equities of all sizes, distinguishing itself from existing funds that are dominated by holdings in mega-cap stocks. China’s stock market has set the pace for the rest of the world this year, and cash has been flowing into Chinese equity ETFs at a record pace. The eight ETFs in the China Equities ETFdb Category are up an average of 65% on the year, and have attracted aggregate cash inflows of more than $2.0 billion.

YAO

Investors cheered another day in the black for stocks, but the story of the day Monday was copper. The iPath Dow Jones-UBS Copper Total Return ETN (JJC) rose more than 4%, apparently on the back of continued declines in stock levels. A huge run-up in copper prices this year has some investors predicting that a major correction is inevitable.

JJC