Monday, July 1, 2019

Summer Cooling

Monday, July 1, 2019 - Though the US Stock markets cooled down a bit this week, they finished off the first half of the year riding their continued bull market hot streak. For the week, the Dow Jones Industrial Average dropped 119 points or down .4% closing at 26,599.96. The S&P 500 and Nasdaq Composite also finished lower down .3% each to 2941 and 1566, respectively.

In ETFs, we saw significant inflows in some bond ETFs over the past month. LQD, iShares iBoxx USD Investment Grade Corporate Bond ETF, gained about $4.62B in assets. That was followed by SHV, the iShares Short Treasury Bond ETF, which gained over $4.15b in assets. In outflows, investors sold shares of international ETFs. EFA, iShares MSCI EAFE ETF, lost over $1.45b over the month of June. EWJ, iShares MSCI Japan ETF, lost over $595m, all according to our ETFG Fund Flow Summary.

In the ETFG Quant Movers, small cap ETFs gained the most points to their overall scores. The AlphaMark Actively Managed Small Cap ETF, SCMP, and the Legg Mason Small-Ca Quality ETF, SQLV, added 7.98% and 7.17% to their overall Quant scores respectively. On the loser’s side, we saw international ETFs. The Invesco International Revenue ETF, REFA and the Global X DAX Germany ETF DAX lost 8.45 and 8.30 to their overall 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 Telecommunications portion when comparing this week’s Select List to last. The Fidelity MSCI Telecommunications Services Index ETF, FCOM, moved up one spot to take the first overall position on the list. This knocked the iShares US Telecommunications ETF, IYZ out of first place and into 3rd. VOX, the Vanguard Communication Services ETF, moved up one spot and into 2nd place this week. XLC, the SDPR Communications Services ETF, remained in the 4th position. A new addition to the list this week was XTL, The SPDR S&P Telecom ETF which is now in 5th place. It knocked off IXP, iShares Global Telecom ETF.

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