We’ll keep it short on this shortened trading day where Quant is celebrating America’s Independence Day with the US holding 9 of the top 10 positions. Not necessarily the broad market funds that have been so dominant this year but more niche and sector funds exposed to the world’s cleanest dirty shirt.
Energy leads with XOP in 1st place while industrial small cap fund PSCI comes in 4th. IYW has technology tied with basic materials at 6th place where mostly Canadian GDX proves all that’s gold does not glitter. Basic materials also has industrial metal fund XME at 9th place this morning. Smart beta is well represented with PWO in 2nd place and still getting all 10 Green Diamonds and First Trust sees their small and mid cap AlphaDEX funds, FYC and FNY, getting 9 Green Diamonds in 3rd and 8th place. AdvisorShares has their actively managed Trim Tabs Float Shrink Fund (TTFS) in 5th place which has become familiar territory for it lately. And yes, we do have a US broad market large cap fund, OEF tracking the S&P 100, in 10th place.
We wish you all a happy 4th of July, safe travels and be careful with the pyrotechnics. We hope to keep all our fingers intact for another brief post on Friday.