On Monday, June 20, 2023, the World Energy ETF market recorded a negative daily performance of -1.96%, resulting in losses for the 11 ETFs that make up this €2 billion market. The daily performance was primarily driven down by major holdings such as the iShares MSCI World Energy Sector UCITS ETF (WENS), Amundi S&P Global Energy Carbon Reduced UCITS ETF (WELN), iShares MSCI World Energy Sector ESG UCITS ETF (WENE), and the iShares Oil & Gas Exploration & Production UCITS ETF (SPOG), all of which saw negative daily returns ranging from -1.53% to -2.24%.
The downturn was also fueled by the performance of companies like CONOCOPHILLIPS ORD (COP), CDN NATURAL RESOURCE ORD (CNQ), EOG RESOURCES ORD (EOG), and PIONEER NATIONAL RESOURCE ORD (PXD), all of which saw daily returns in the range of -2.40% to -2.75%. Additionally, over the course of one week, several of these companies saw even steeper losses, with CDN NATURAL RESOURCE ORD (CNQ) losing -5.52% and CONOCOPHILLIPS ORD (COP) losing -1.33%. It remains to be seen how these major holdings and companies will perform in the coming days and weeks, but clearly, the World Energy ETF market is off to a rough start in the second half of 2023.
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