Monday, April 1, 2019

Turn Up

Monday April 1, 2019 - Stocks ended the week and the quarter on a high note, rising globally. The S&P 500 recorded its strongest quarterly performance in a decade, rising 13% and leaving the index 3% off its all-time high. Following the recent decrease in longer-term yields, the Treasury yield curve remained partially inverted at the start of the week, with yields on three-month Treasury bills trading higher than 10-year note yields. However, longer-term bond yields halted their decline and began to rise a bit Wednesday suggesting that the recession fears that often accompany yield curve inversions may have subsided a bit. On Friday, the yield curve returned to an upward slope over the three-month to 10-year range, which may have been one factor in the market’s rally to end the week. The S&P 500 finished the week up 33.69 points, DJIA was up 426.36 points and the NASDAQ Composite rose 86.65 points.

ETFG Quant Movers – those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings:

ETFG Quant Winners: This week’s biggest gainer was iShares MSCI Australia ETF (EWA) up 7.43 points to an ETFG Quant score of 57.99, iShares Russell Mid-Cap Value ETF (IWS) rose 6.92 points to 46.33. John Hancock Multifactor Industrials ETF (JHMI) gained 6.56 points to rise to a Quant score of 60.48. Rounding out the top five are Invesco Water Resources ETF (PHO) and iShares Currency Hedged MSCI Australia ETF (HAUD) were up 6.52 and 6.45 points respectively.

ETFG Quant Losers: This week’s biggest loser was SPDR MSCI ACWI ex-US ETF (CWI) dropping 9.31 points to an ETFG Quant score of 40.81, Invesco India ETF (PIN) fell 8.49 points to 37.35. iShares Core S&P U.S. Growth ETF (IUSG) was down 8.26 ending the week with a Quant score of 49.87. Rounding out the bottom five are Oppenheimer International Revenue ETF (REFA) and Global X Scientific Beta Europe ETF (SCID) falling 8.10 and 8.05 points respectively.

ETFG Weekly Select List - the five most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model. Because of the sectors success on the 1W Quant Rating of the ETFG Heat Map, we’d like to highlight some substantial movement in the Consumer Staples Sector when comparing this week’s Select List to last. iShares Global Consumer Staples ETF (KXI) and Invesco S&P SmallCap Consumer Staples ETF (PSCC) retained the top two spots from last week showcasing their popularity in the sector. Consumer Staples Select Sector SPDR Fund (XLP) made the biggest jump in the sector, moving from fifth to third this week. Finally, John Hancock Multifactor Consumer Staples ETF (JHMS) and iShares US Consumer Goods ETF (IYK) both dropped down one spot to fourth and fifth on the sector Select List. After a strong Q1 performance keep an eye on these Consumer Staples ETFs as we continue on to Q2 and beyond.

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