Monday, November 30, 2020

Thanksgiving Gains

Monday, November 30, 2020 - It was a short but productive week for the markets. One bit of news that helped stocks surge was President-elect Biden’s plan to name former Federal Reserve chair Janet Yellen the head of the Treasury Department. Yellen, head of the Federal Reserve from 2014-2018, has a proven track record of economic expansion and is being welcomed warmly by investors. Another big piece of news to drop this week was the third vaccine, this one from AstraZeneca, showing promise from trials (70% effective on average). While not as highly effective as its constituents in Pfizer or Moderna, 70% efficacy is still very promising, and investors acted accordingly, as what appears to be another crucial step in the right direction of ending the Coronavirus pandemic.

Overall on the week,  the Dow Jones gained 2.21% this week (646.89 points), the S&P 500 gained 2.27% on the week, and the Nasdaq rose 2.96% this week, and they closed at 29,910.37, 3638.35, and 12,205.85 respectively.

ETFG Quant Movers: Those ETFs with the largest weekly change in their respective ETFG Quant Fundamental Score ratings.

ETFG Quant Winners: This week, our top 5% Gainers were IVW, IJT, VETS, HAP, VBK, which showed percentage gains of 56.19%, 54.69%, 54.45%, 45.24%, 42.35% respectively. What’s worth noting here is that that top 2 movers, IWV and IJT, are ETFs that track US equities, and seeing what strong of a week the US major indices had this week, it would make sense to see these two ETFs here.

ETFG Quant Losers: On the % Losers side, our 5 biggest losers this week were PGF, EWL, IHE, MOM, and SLX. These 5 ETFs showed % losses of -39.68%, -34.03%, -30.31%, -27.89%, and -26.72% respectively. What’s interesting to note here is that, the two top ETFs here, PGF, and EWL, are ETFs that have heavy interesting in foreign securities, and seeing that the US markets outperformed the rest of the world this week, we can see why ETFs that track foreign securities wouldn’t perform as well.

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

This week, we take a look at the Sector category, and compare last week’s placements to this week’s. A couple of ETFs worth highlighting are PEJ (Invesco Dynamic Leisure and Entertainment ETF) which moved from 3rd place to 1st place this week in the Consumer Discretionary sub-focus, and KBWD (Invesco KBW High Dividend Yield Financial ETF) which went from unranked last week to 1st place this week in the Financials sub-focus.

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