Other areas of the market flashed similar
warning signs. Unresolved and escalating U.S.-China trade tensions continued to
cast a pall, while European political turmoil surrounding Italy and Brexit
loomed large. Negative economic data in U.S. housing starts, durable goods
orders and consumer confidence further fueled this negative backdrop. Lastly,
turbulence in the energy markets added to the already strong selling pressure.
Concerns about rising inventories, contracting demand, a rising U.S. dollar and
global policy divergence helped extend oil price's decline to its lowest level
in over a year and down over a third since October.
Following this week's abbreviated, yet
frenetic activity, the S&P 500, DJIA and Nasdaq suffered declines of 3.8%,
4.4% and 4.3% respectively.
ETFG
Quant Movers – those ETFs who have had the
largest weekly change in their respective, overall ETFG Quant ratings:
ETFG Quant Winners: Reality
Shares DIVCON Dividend Guard ETF (GARD) experienced the largest rise in it's
weekly ETFG Quant score with a 38.65% gain. As growth stocks come under
increasing pressure, ETFs with steady dividend paying constituents may offer
some ballast.
Other notable gainers include the iShares
Edge MSCI Min Vol Emerging Markets ETF (EEMV) and Invesco S&P
International Developed Quality ETF (IDHQ), which illustrates our model's current
emphasis on quality and stability amid the current fraught global environment.
ETFG Quant Losers:
Unsurprisingly, growth and technology focused ETFs are heavily featured in this
week's top losers list. These include the SPDR Portfolio S&P 500 Growth ETF
(SPYG), Vanguard Information Technology ETF (VGT), and First Trust
Nasdaq Semiconductor ETF (FTXL), which all shed over 8.0% on the week.
ETFG
Weekly Select List - the five most highly rated
ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG
Quant model.
This week the highest rated fund by Sector is
the iShares Nasdaq Biotechnology ETF (IBB) with a 69.80 quant score. Last
week's leader was the iShares Global Healthcare ETF (IXJ). Healthcare's
leadership hold reflects its broadly favorable sector outlook according to our
model.
Conversely, the lowest rated Sector fund this
week is the SPDR S&P Telecom ETF (XTL) with a 54.90 score. That is a
shift from last week where the VanEck Vectors Gold Miners ETF was the
lowest rated fund with a score of 57.50.
By Geographic Region, the iShares MSCI
Turkey ETF (TUR) sits atop our weekly rankings with a quant score of 74.60 and
a 10 Reward score. TUR also leads our weekly rankings by Strategy, where it
resides within the broad equity group. This is a change from last week, when
the U.S. focused iShares Russell Mid-Cap ETF (IWR) led the geographic and
strategies rankings with a 73 score. IWR sits with in the North American and
Mid Cap peer groups.
To help navigate the current volatile
investing environment, monitor our weekly Select List to help identify
attractive opportunities within the vast U.S. listed ETP marketplace.
Thanks for reading ETF Global Perspectives.
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_____________________________________________________
Assumptions,
opinions and estimates constitute our judgment as of the date of this material
and are subject to change without notice.
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ratings and rankings are statements of opinion as of the date they are
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