The PureFunds ISE Junior Silver ETF (SILJ) underperformed all other non-leveraged, non-inverse exchange traded products in the U.S. Thursday on a percentage basis, producing a -4.8% one-day return and trailing the wider markets by a total of 5.5 percentage points.

Behind The Losses

SILJ closed Thursday at $15.26 per share, down $0.77 (-4.80%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $1.61 (+0.70%) on the day.

SILJ’s trading volume today was a total of 317,452 shares, which was an increase of 92% versus its average daily trading volume of 165,393. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today’s losses, SILJ has still surged 26.93% year-to-date, versus a 3.27% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

PureFunds ISE Junior Silver ETF is an Equity-focused product issued by PureFunds. Its expense ratio of 0.69% makes it the #24 cheapest ETF among 31 total funds in the Precious Metals ETFs category.

SILJ currently boasts $49.36M in assets under management (AUM), placing it #20 of 31 ETFs in its category, and #1070 of 1916 total ETFs in the U.S. exchange traded universe.

The investment objective of the PureFunds ISE Junior Silver ETF is to seek investment results that correspond generally to the price and yield performance of the ISE Junior Silver (Small Cap Miners/Explorers) Index. With silver prices taking a hit on Thursday, and miners — especially small caps — extremely sensitive to price changes, it’s no surprise that SILJ pulled back so sharply.

SILJ SMART Grade

SILJ currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #15 of 33 funds in the Precious Metals ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit SILJ’s ticker page.

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