Monday, December 23, 2019

In the Face of it All, Record Highs

Monday, December 23, 2019 - In the wake of further political tension, impeachment hearings and uncertainties regarding next year’s election, the markets are dancing to the beat of their own drum as once again they are hitting record highs.

For the week, the Dow Jones Industrial Average rose 78 points finishing at a record high of 28,455. The S&P 500 gained 53 points to 3,221 and the Nasdaq Composite also finished up, gaining 190 points to close week at 8,924 both record highs.

In ETFs, we saw 3 funds take in over $1B this week, all of which track the S&P 500. SPY, the SPDRS S&P 500 ETF, led the way gaining over $3.8B in assets for the week. That was followed by RPG, the Invesco S&P 500 Pure Growth ETF and VOO, the Vanguard S&P 500 ETF which gained over $1.6B and $1.2B in assets respectively. In outflows, investors pulled money out of the Invesco Q’s, QQQ, which lost over $1.5B in assets the last week. That was followed by VO, the Vanguard Mid-Cap ETF, which lost over $1.1B, all according to our ETFG Fund Flow Summary.

In the ETFG Quant Movers, we had an assortment of products add the most percent to their overall scores. The VictoryShares International High Dividend Volatility Weighted ETF, CID, gained the most percent to its overall score with the addition of 23.33%. That was followed by the Invesco S&P 500 Equal Weight Utilities ETF, RYU and the SPDR MSCI Emerging Markets Strategic Factors ETF, QEMM, which added 23.13% and 17.64% to their overall Quant scores respectively.

On the loser’s side, we saw Preferred Stock focused ETFs drop their overall scores. This was led by the Global X SuperIncome Preferred ETF, SPFF which lost 16.15% to its overall score. That was followed by the First Trust Preferred Securities and Income ETF, FPE which lost 15.67% to its overall score.

Because of this sector’s success, we’d like to highlight some substantial movement in the Natural Resources portion of this week’s Select List. The FlexShares STOXX Global Broad Infrastructure Index ETF, NFRA and the DJ Brookfield Global Infrastructure ETF, TOLZ held firm at the top two positions respectively. FTRI, the First Trust Indxx Global Natural Resources Income ETF moved up two spots to the 3rd overall position displacing TBLU, the Tortoise Water Fund which is now the 5th rank ETF. Coming in 4th place this week, and keeping its position firm on the list was PAVE, the Global X U.S. Infrastructure Development ETF.

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