Mixed Week

Monday, October 7, 2019 - It was a mixed week for major US Indices this week as thoughts of a recession continue to loom for investors. For the week, the Dow Jones Industrial Average lost 246 points, or 0.9% closing at 26,573. The S&P 500 fell 0.3% to 2,952 while the Nasdaq Composite finished up, gaining 0.5% to close the week at 7,982. This all riding on the back of a possible decrease in interest rates by the Federal Reserve later in October.

In ETFs, we saw inflows into some of the largest products in the marketplace. SPY, the SPDRS S&P 500 ETF, gained about $9.49B in assets for the first week of October. That was followed by VTI, the Vanguard total stock market ETF, which gained about $2.58B in assets, surpassing the $100B mark in AUM. In outflows, we saw investors pull money out of fixed income ETFs. SHV, iShares Short Treasury Bond ETF, lost over $2.8B in the last week. That was followed by BSV, Vanguard short term bond ETF, which lost over $1.08B, all according to our ETFG Fund Flow Summary.

In the ETFG Quant Movers, we saw international based ETFs gain the most points to their overall scores. The Franklin FTSE Mexico ETF, FLMX, and the Invesco DWA Emerging Markets Momentum ETF, PIE, added 18.96% and 17.84% to their overall Quant scores respectively.

On the loser’s side, we saw factor based ETFs drop points in their overall scores. The JPMorgan Event Driven ETF, JPED and the WisdomTree International Multifactor Fund DWMF lost 15.99% and 14.59% to their overall scores respectively.

Because of this strategy’s success, we’d like to highlight some substantial movement in the Broad Equity portion of this week’s Select List to last. The AdvisorShares Dorsey Wright ADR ETF, AADR, moved up three spots to take the first overall position on the list. This knocked the iShares MSCI Turkey ETF, TUR out of first place and into 3^rd. EWY, the iShares MSCI South Korea ETF, held steady in 2^nd place this week.  A new addition to the list this week was EWW, The iShares MSCI Mexico ETF which is now in 4^th place. It knocked off FNI, the First Trust Chindia ETF. Rounding out the top five was the iShares MSCI Chile ETF, ECH, to complete the strong category for BlackRock Funds.

We will see how the markets will continue to react to recession fears and the occasional tweets from President Trump regarding trade, foreign relations, etc.

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