Monday, February 11, 2019

Eking Out Gains

Monday, February 11, 2019 - Though volatile, the major US indices finished the week off not too far from where they started. A welcoming sign to the continued strength that the markets have seen since the start of the year even though there has been some stomach-churning headlines coming both globally and domestically.

For the week, the Dow Jones Industrial Average finished up about 50 points while the S&P 500 gained 5 points and The Nasdaq Composite was up about 34.

In ETFs, we saw major inflows into Emerging Market ETFs and Corporate Bond ones as well.  IEMG, iShares Core Emerging Markets ETF, took in more than 3.55B, about 8.5% of its AUM. VCSH and VCIT, both Vanguard Corporate Bond ETFs, also saw net flows of 3.01B and 2.57B respectively. In outflows, we continue to see money leaving major US index tracked ETFs. IVV and SPY, both of which track the S&P 500 have seen outflows of 7.25B and 7.07B in the month of February or over 4% and 2% of their overall AUM respectively.

In the ETFG Quant Movers, we saw volatility based ETPs gain the most percentage points to their overall scores. The VictoryShares US 500 Enhanced Volatility wtd ETF (CFO) and VictoryShares US EQ Income Enhanced Volatility wtd ETF (CDC) added 8.12% and 7.52% to their overall Quant scores respectively.

ETFG Weekly Select List - 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 Industrials portion when comparing this week’s Select List to last. The First Trust NASDAQ Global Auto Index Fund (CARZ) jumped up one spot to the first overall position to be the top ranked fund in the sector. It took over for a fellow First Trust product, FTXR which got knocked out of the top 5 this week by the Fidelity MSCI Industrials Index ETF (FIDU) which is now in the 3RD ranked spot. The First Trust Global Engineering and Construction ETF (FLM) stayed put in the 2ND overall position. Rounding out the bottom of the top 5 were the SPDR Kensho Future Security ETF (XKFS) and the iShares Transportation Average ETF (IYT). They finished 4th and 5th respectively.

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