Monday, April 22, 2019

1Q Earnings Support

Monday, April 22, 2019 - As earnings season for the first quarter kicked off, stock markets remained relatively quiet keeping their 2019 gains intact. Earnings for Q1 were generally set to be modest and the start of the season has seen many companies beating these estimates.

For the shortened 4-day week, the Dow Jones Industrial Average gained 147.24 points, or 0.6%, to close at 26,559.54, while the S&P 500 lost only 0.1% to 2905.03 and the Nasdaq Composite advanced 0.2% to 7998.06.

In ETFs, we see outflows in a wide variety of products for the month of April. EFA, The iShares MSCI EAFE ETF, IWM, the iShares Russell 2000 ETF and QQQ, the Invesco Nasdaq ETF lost assets of $2.14B, $1.58B and $1.38B respectively in the month of April. For inflows, investors have picked up more shares of S&P 500 tracked ETFs with SPY taking in over $8.74B and IVV, which is iShares S&P 500 Product, gaining 3.07B to its AUM, all according to our ETFG Fund Flow Summary.

In the ETFG Quant Movers, we saw a broad base of products gain percentage points to their overall scores. The iShares US Medical Devices ETF (IHI), the Invesco India ETF (PIN) and the Franklin FTSE Taiwan ETF (FLTW) added 24.19%, 18.57% and 16.27% to their overall Quant scores respectively.

On the loser’s side, we saw factor-based ETFs. The Alpha Architect Value Momentum Trend ETF, VMOT and the Oppenheimer Russell 2000 Dynamic Multifactor ETF, OMFS saw a 16.59% and 16% decline 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 geographic regions’ success in the major indexes this week, we’d like to highlight some substantial movement in the broad equity, developed markets portion when comparing this week’s Select List to last. The WisdomTree Europe Hedged Equity Fund (HEDJ) moved up one spot to take the first overall position on the list. This knocked the Global X Health & Wellness Thematic ETF (BFIT) out of the highest position and into 2nd place. The third overall spot remained the same with First Trust RiverFront Dynamic Developed International ETF, (RFDI) keeping the stronghold. (EFA). The iShares MSCI EAFE ETF, moved into the 4th position this week after not being on the list last. It took over for the iShares Edge MSCI Multifactor Intl ETF (INTF) which is now in the 5th overall spot, knocking the Invesco International Dividend Achievers ETF (PID) out of the top 5.

From all of us at ETF Global, we would like to wish our readers a very Happy Easter and Happy Passover!

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