Oil Surges While Gold Miners Lead ETF Losses

ETF performance on Tuesday, 28 April 2026, showed a clear split between strength in energy-linked exposures and weakness across metals. XLE rose 1.66% and USO gained 3.62%, while gold and copper-sensitive funds lagged sharply, with GDX down 4.37%, COPX off 3.68%, and SLV lower by 3.12%. Fixed income ETFs were comparatively quiet, with small gains in TLT and LQD offset by modest declines in PFF and HYG.

Gold Miners tanked 4.37%

Equity ETFs

Leaders: Energy XLE +1.66% (3M perf: +16.9%), Consumer Staples XLP +0.90% (+0.5%)
Laggards: Gold Miners GDX -4.37% (3M perf: -19.0%), Copper Miners COPX -3.68% (-13.0%)

Preferred Stock slid 0.64%

Fixed Income ETFs

Leaders: Long Treasuries TLT +0.10% (3M perf: -0.5%), Inv. Grade Credit LQD +0.05% (-0.2%)
Laggards: Preferred Stock PFF -0.64% (3M perf: -0.6%), High Yield HYG -0.14% (+0.5%)

Oil surged 3.62%

Alternative ETFs

Leaders: Oil USO +3.62% (3M perf: +84.5%), Agriculture Basket DBA +1.41% (+8.2%)
Laggards: Silver SLV -3.12% (3M perf: -34.8%), Copper CPER -1.87% (-0.9%)

Romain Gandon — CEO, Quantlake

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice. Past performance is not indicative of future results.