Commodities going in opposite directions have been by far the biggest driver of relative performance between our best and worst performing ETFs over the past week. As shown, oil-related ETFs have exploded higher while gold-related ETFs have lagged dramatically. A mixture of growth and defensive equities have also undeperformed badly including Utilities, REITs, and low volatility ETFs. Gainers include semiconductors, base metals, and EM.

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