The
headlines weighed on Tesla as well,
when TSLA tumbled 13.9% after its CEO, Elon Musk, was sued by the SEC over his
tweet about taking the electric automaker private. Mr. Musk and the SEC were
reportedly close to reaching a no-guilt settlement that would have barred him
from being chairman for two years, but Mr. Musk backed out at the last minute.
Investors should expect an ETF Sell off and can examine these movements by
utilizing ETFG’s Equity Exposure Summary.
Three of five top ETFs which own Tesla include ARK Industrial Innovation ETF (ARKQ),
ARK Innovation ETF (ARKK) and ARK Web
x.0 ETF (ARKW) all down
approximately 1% have a weighting of 11.06%, 9.91% and 7.91% respectively.
ETFG Quant Movers - Regular readers know that we rank U.S listed, equity
ETFs based on several forward-looking indicators which offers a powerful tool
for investors who are either seeking confirmation of a move or as a contrarian
indicator for future trends. EM equity funds in our ETFG Behavioral Top Scorers
list favored more broad market with the Schwab Emerging Markets Equity ETF (SCHE)
coming in at #23 while the granddaddy of all EM funds, iShares MSCI Emerging
Markets Index Fund (EEM), was at #63. Nor
was the strong showing confined to just broad-based funds with iShares MSCI
Brazil ETF (EWZ) at #14 and
multiple China funds making the cut with iShares China Large-Cap ETF (FXI)
and iShares MSCI China ETF (MCHI) both appeared
in the top 25.
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.
After tepid movements on
Wall Street we saw an astonishing amount of consistency within the ETFG Weekly
select List. SPDR S&P 600 Small Cap Value ETF (SLYV), iShares
Nasdaq Biotechnology Index Fund (IBB), AdvisorShares
Dorsey Wright ADR ETF (AADR), iShares MSCI
EAFE Value Index Fund (EFV), Fidelity MSCI Telecommunication Services
Index ETF (FCOM) and SPDR KBW
Insurance ETF (KIE) all maintained the
top rating in their respective categories. Those categories in order are Small
Cap, North America, Global Ex-U.S., Developed Markets,
Telecommunication and Financials.
For full coverage of this week’s ETFG
Weekly Select, please see here: ETFG Select List - October 1, 2018
Thanks for reading ETF Global
Perspectives!
_____________________________________________________________
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