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.
Thank you for reading ETF Global Perspectives!
ETFG 21 Day Free Trial: https://www.etfg.com/signup/quick
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.
In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.
ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision. ETFG’s opinions and analyses do not address the suitability of any security. ETFG does not act as a fiduciary or an investment advisor. While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested. Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate. Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income.