Monday, November 2, 2020

An Upcoming Week Like No Other

Monday, November 2, 2020 – Leading into the week of the presidential election, stocks suffered their worst work and month since the onset of the coronavirus pandemic in March. Investors have been unnerved by election uncertainty, surging global coronavirus cases, the imposition of new lockdowns in Europe and fear of similar measures in the U.S., and mixed earnings and rising regulatory pressure against large technology companies. These anxieties overrode any positive impact from the steadily improving economic data over the past few months, highlighted by robust third quarter GDP growth.

For the week, the DJIA, S&P 500, and NASDAQ declined 6.1%, 5.6%, and 5.5% respectively. This marked the second consecutive month of declines for the three major indexes, with each experiencing a loss greater than 2% for October.

ETFG Quant Movers - Those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings.

ETFG Quant Winners: The top five gainers in their ETFG Quant Total Score were the iPath S&P MLP ETN (IMLP), Innovator IBD ETF Leaders ETF (LDRS), Franklin FTSE Europe Hedged ETF (FLEH), Global X MSCI Superdividend Emerging Markets ETF (SDEM), and AdvisorShares Vice ETF (ACT).

ETFG Quant Losers: The ETFs suffering the largest declines in their ETFG Quant Total Score were the Elements Spectrum ETN (EEH), First Trust Preferred Securities and Income ETF (FPE), Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE), iShares MSCI Finland ETF (EFNL), and SPDR Solactive Germany ETF (ZDEU).

ETFG Weekly Select List - The five most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model.

With technology companies once again in focus this week, we feature the top-rated ETFs within this sector from our Quant model.

From 1-5, our model currently favors ALPS Disruptive Technologies ETF Technology (DTEC),  First Trust Nasdaq Smartphone Index Fund Technology (FONE), Loup Frontier Tech ETF Technology (LOUP), O'Shares Global Internet Giants ETF Technology  (OGIG), and First Trust Cloud Computing ETF Technology (SKYY). DTEC and FONE maintained their positions from last week, however there was a shakeup in the 3-5 spots. LOUP replaced IPAY at 3, OGIG supplanted XWEB at 4, and SKYY unseated XTH at 5.

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