Monday, September 11, 2017

We Will Never Forget

Monday, September 11, 2017 - After two straight weeks of positive gains, stocks fell during the abbreviated holiday week. Financials dragged down the broader indexes as the worst performing sector losing -2.7%, followed by Technology and Consumer discretionary losing 1.28%, and 1%. It wasn’t all bad however as HealthCare, Energy and Utilities managed positive returns this week of 1.61%, 1.29% and 1.02%. Overall, the Dow Jones Industrial Average dropped by .9%, S&P 500 dropped by .6%, and NASDAQ dropped by 1.2%.

Most news this week was headlined by the aftermath of Hurricane Harvey and the ongoing warnings of Hurricane Irma who has arrived a week after Hurricane Harvey, which dropped a record 50 inches of rain along portions of the Texas Gulf Coast. The financial toll of these two storms could be several hundred billion dollars which of course doesn’t look promising for Property and Casualty Insurance companies.

In the ETF Global equity exposure report we can see how much of a Property & Casualty Company is held by various ETFs. As an example, let’s examine one of the bigger insurance companies, Allstate Corp. (ALL) to see its exposure within ETFs. $1.9B of Allstate is held within 144 ETFs, 1.9B and the ETFs that have the greatest exposure to Allstate are KBPW, Powershares KBW Property & Casualty Insurance Portfolio, which holds 8.04%, IAK, Ishares U.S Insurance ETF, which holds 5.04%, and RWW, Oppenheimer Financials Sector Revenue ETF, which holds 2.41%.

ETFG Quant Movers - This week in the ETF Global Quant Movers, the biggest gainers included SCIN, EGSHARES India Small Cap ETF, XTH, SPDR S&P Technology Hardware ETF, and SMEZ, SPDR EURO STOXX Small Cap ETF - their Quant scores increased by 20.71%, 19.64% and 19.1% respectively. On the flip side, the biggest losers in our quant score this week were AMZA, Infracap MLP ETF, ONEQ, Fidelity NASDAW Composite INDEX Tracking Stock ETF and BTAL Quant Shares US Market Neutral Anti-Beta Fund. Each fund lost 26.15% 19.19%, and 18.53% respectively.

ETFG Weekly Select List - With the short week, there wasn’t a lot of movement on the ETF Global Weekly Select List - 80% of number 1 ranked ETFs in their respective categories maintained their number 1 spot. However, in a week without a lot of variance, 2 Funds stood out:  XWEB, SPDR S&P Internet ETF, went from unranked to first in the Technology Category while ESGD, iShares MSCI EAFE ESG Select ETF, went from fourth to first this week in the Theme category.

ETF Fund Flows - With August behind us. we can look at the ETF Global Fund Flow tab to see which ETFs had the greatest inflows in August. Not surprisingly, the biggest inflows by dollar amount last month were SPY, IVV and VEA with inflows of 2.35B, 2.16B and 1.97B. In terms of percentages last month, the biggest inflows were HCRF, iShares EDGE Multifactor Healthcare ETF, HUSE, US Market Rotation Strategy ETF and Deutsche X-Trackers FTSE Developed ex US  Comprehensive Factor ETF with inflows of 180%, 117% and 115%.

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