NEW YORK (
) -- The best-performing exchange traded funds so far this quarter reflect strength in the energy markets, especially in crude oil.
The spot price of West Texas Intermediate Crude Oil climbed to just over $80 a barrel, a 14% bump since Sept. 30. The
iPath Goldman Sachs Crude Oil Total Return Index ETN
matched this return, while the
United States Oil Fund LP
PowerShares DB Oil Fund
lagged a bit, returning 13.3% and 13.2%, respectively.
The price of regular gasoline has also worked its way back up to $2.68 a gallon, according to AAA's national average. Gasoline futures on the New York Mercantile Exchange topped $2.01 a gallon at the close last Wednesday, up 17% this quarter. The top-performing ETF so far in the fourth quarter,
United States Gasoline Fund LP
, added 14.5%.
The only non-energy fund to crack the top ten this month is tied to the fortunes of the U.S. dollar and the economy. The
iPath Dow Jones-UBS Platinum Subindex Total Return ETN
grew 11.8% on a 5.3% rise in the spot price of platinum and a 1.3% decline in the U.S. dollar index.
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Kevin Baker became the senior financial analyst for TSC Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.