Monday, April 29, 2019

Record Highs & ETP Forum Tomorrow!

Monday, April 29, 2019 - US Stock markets continue to show signs of great strength as they ended this week setting more records in 2019. For the week, the Dow Jones Industrial Average finished a bit off from its high last week down only 0.16%, closing at 26,543.3. On the other hand, both the S&P 500 and Nasdaq Composite set new records twice this week and closed up 1.2% and 1.9%, respectively. Those fresh highs are 2,939.88 for the S&P 500 and 8,146.40 for the Nasdaq.

In ETFs, we see outflows in some bond ETFs. BSV, the Vanguard Short-Term Bond ETF lost $1.23B in assets this week. That was followed by TIP, the iShares Tip Bond ETF, which lost over $700M in assets. In inflows, investors have picked up more shares of the Invesco QQQs, adding over $2B to the fund’s AUM. That was followed by IVV, which is iShares S&P 500 Product, gaining $1.2B to its AUM, all according to our ETFG Fund Flow Summary.

In the ETFG Quant Movers, we saw sector-based products gain significant percentage points to their overall scores. The First Trust Materials AlphaDEX Fund, FXZ, and the First Trust Financial AlphaDEX Fund, FXO, added 20.06% and 16.70% to their overall Quant scores respectively.

On the loser’s side, we also saw some sector-based ETFs. The SPDR S&P Semiconductor ETF, XSD and the iShares US Regional Banks ETF IAT saw a 19.66% and 16.8% 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 sector’s success in the major indexes this week, we’d like to highlight some substantial movement in the Basic Materials portion when comparing this week’s Select List to last. The iShares MSCI Global Silver Miners ETF, SLVP, moved up one spot to take the first overall position on the list. This knocked the U.S. Global GO GOLD and Precious Metal Miners ETF, GOAU out of first place and the whole list in general. FMAT, the Fidelity MSCI Materials Index ETF, moved up two positions and into 2nd place this week. XME, the SDPR S&P Metals & Mining ETF, remained in the 3rd position. Coming into the list in place of GOAU was the VanEck Vectors Gold Miners ETF, GDX, which is now in 4th place. Another new addition was the Global X Gold Explorers ETF, GOEX, which is now in the 5th position.

We look forward to seeing everyone tomorrow for the Spring 2019 ETP Forum and thanks for reading ETF Global Perspectives!

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