Monday, March 22, 2021 – U.S. equity markets felt the pressure of the continuing rise in rates, a mix of economic news and plans for the first major federal tax increase in almost thirty years. For the week, the DJIA shaved 150.67 points to close at 32,627.97, the S&P 500, after closing at an all-time high on Wednesday, lost 30.24 points to close at 3,913.10 and the Nasdaq lost 104.63 points to close at 13,215.24.
The markets appeared most focused on the Federal Reserve meeting and the rise in yield for 10 year U.S. treasuries as they cracked 1.75% during the week. Despite a rally following the Fed Meeting, rising rates and a steepening yield curve seem to represent the primary market concerns. While the Fed appears to have adopted a wait-and-see stance on potential inflation, more details around the Infrastructure Plan should be imminent with Transportation Secretary, Pete Buttigieg, testifying before the House this week. The same storylines surrounding the reopening of the economy persist and remain fluid as vaccinations are distributed and regions begin to relax Covid protocols.
ETFG Quant Movers - Those ETFs who have had the largest weekly change in their ETFG Quant Total Scores.
ETFG Weekly Quant Winners: The three biggest gainers in their ETFG Total Quant Scores were found in the Fidelity MSCI Information Technology Index ETF (FTEC) which gained 13.15 points to 44.50, the Invesco Variable Rate Preferred ETF (VRP) which added 8.44 points to 59.25 and the Amplify Online Retail ETF (IBUY) which climbed 8.10 points to an ETFG Total Quant Score of 67.30.
ETFG Weekly Quant Losers: The three biggest drops in their respective ETF Quant Total Scores were found in the John Hancock Multifactor Financials ETF (JHMF) which dropped 10.08 points to 41.25, the ELEMENTS SPECTRUM ETN (EEH) losing 8.73 points and the Barclays Women in Leadership ETN (WIL) which retrenched 7.49 points in its ETFG Total Quant Score.
Thanks for reading ETF Global Perspectives and have a great week!
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.
This publication has been prepared for general guidance on matters of interest only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, ETF Global does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.