Underlying concerns

Exchange-traded Funds


How keen would you be to trade a new security whose net asset value (NAV) has dropped by around two-thirds over the past six months? For some participants in the US commodity exchange-traded fund (ETF) market, the answer appears to be: very. The US Oil Fund ETF, which is listed on the American Stock Exchange (Amex) and managed by Colorado-based Victoria Bay Asset Management, has experienced a marked increase in trading activity since late December, with January the busiest trading month sinc