Monday, September 24, 2018

Tariffs Aside

Monday, September 24, 2018 - Resilience is the name of the game and the markets have come to play. Last week, the Dow Jones Industrial Average led the way out of the 3 major US indices with a gain of about 600 points to 26,743. The S&P and Nasdaq Composite also found themselves in the winner’s circle for the week gaining about 40 and 23 points respectively. This all happening while the Trump Administration imposed a 10% tariff on $200 Billion more of Chinese products showing how strong this bull market continues to be.

In ETFs, Equity based developed markets received some of the largest inflows this week, taking in over $18B by Wednesday, according to the ETFG Fund Flow Summary. One of the ETFs that has been reaping the benefits of inflows is VOO, the Vanguard S&P 500 ETF. In the month of September, VOO has taken in over $6B or about 6% of its AUM. IVV, which is iShares version of the S&P 500 ETF has followed suit with the second highest inflows with just over $4B.

ETFG Quant Movers - In the ETFG Quant Movers, Asian-based ETFs saw the biggest gains to their scores. The WisdomTree Dynamic Currency Hedged Japan Equity Fund (DDJP) and the Invesco Golden Dragon China ETF (PGJ) added 9.56 and 9.23 points to their overall Quant scores respectively.

In the losers column, we saw safe haven types of funds dropping some points to their overall score. The WBI BullBear Rising Income ETF (WBIA), Invesco Variable Rate Preferred ETF (VRP) and the SPDR S&P Dividend ETF (SDY) lost 10.51, 7.27 and 6.91 points to their overall scores respectively.

ETFG Weekly Select List – this weekly report features the 5 most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model.

Because of the sector’s success in the major indexes this week, we’d like to highlight some substantial movement in the Consumer Discretionary sector when comparing this week’s Select List to last week’s. Invesco Dynamic Leisure and Entertainment ETF (PEJ) jumped up one spot to be the top-ranked fund in the sector. It took over for the Columbia Emerging Markets Consumer ETF (ECON) which is now in the 2nd ranked spot. That moved the Invesco Dynamic Retail ETF (PMR) to 3rd place, down from the second ranked spot last week while the 4th and 5th spots, SPDR S&P Retail ETF (XRT) and Fidelity MSCI Consumer Discretionary ETF (FDIS) remained the same.

For full coverage of this week’s ETFG Weekly Select, please see here:   ETFG Select List - September 24, 2018

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