WEEKLY UPDATE 11/1

US equity markets climbed as more jobs were added than expected in October and the busiest week of earnings came to a close with a majority of S&P 500 companies beating analyst estimates.

The Federal Reserve cut interest rates for the third time this year, but signaled there would be no additional cuts in order to assess current economic conditions.

European stocks reached 22-month highs after the Brexit deadline was pushed back. European equities inflows outpaced US equities for the week (ended the 30th as UK markets were closed for All Saints Day on Nov 1).

In Japan, the BOJ announced there would be no rate cut, and the Nikkei 225 gained 51 points by the close of markets Friday.

Despite continued trade deal concerns, Chinese equities also climbed among strong manufacturing data and positive earnings.

Get our weekly update directly to your inbox 


One Week ETF Trends

US Listed ETFs – Equity – 1 Week Best & Worst Returns

Precious metals lead equity ETF performance for the second week in a row, led by SLVP and GDXJ.

Also notable is the Virtus LifeSci Biotech Clinical Trials ETF BBC. Over the past month, BBC has climbed from $23.16 to $27.46, driven by major price-spiking announcements from it’s highest weighted constituents Reata Pharmaceuticals RETA, Achillion Pharmaceuticals ACHN, and Ra Pharmaceuticals RARX.

Online retail ETFs IBUY and ONLN saw the worst performance last week. SPDR S&P Internet ETF XWEB also fell, making internet-related ETFs a losing category. Cannabis similarly saw poor performance last week.

US Listed ETFs – Fixed Income – 1 Week Best & Worst Returns

Long-term treasury ETFs led fixed income ETF returns as the Federal Reserve cut interest rates.

International Preferred stock ETF IPFF dropped two and a half percent last week, and a number of high yield bond ETFs fell slightly.

US Listed ETFs – Equity – 1 Week Top Inflows & Outflows

With stock market highs, QQQ and VTI saw major inflows. Positive financials earnings also boosted inflows into financial select sector SPDR XLF.

Inflows into the Vanguard Value ETF VTV reflected increasing investor sentiment around value ETFs recently.

SPY saw a massive $3.6B outflow last week, continuing a streak of decreasing AUM over the past six months.

US Listed ETFs – Fixed Income -1 Week Top Inflows & Outflowss

iShares Mortgage-backed securities ETF MBB led inflows for the week. The Vanguard International and US fixed income index ETFs BNDX and BND also saw significant inflows.

LQD saw over $686M in outflows, and over the past month the ETF has lost $1.8B.

On-Screen Liquidity Momentum

Top 10 secondary-market volume increases where ADV 5-day increased substantially over ADV 20-day and ADV 5-day > $10mm

ETF NameTicker% Diff.
SPDR SSGA Gender Diversity Index ETFSHE359%
SPDR S&P 400 Mid Cap Value ETFMDYV331%
iShares Core MSCI International Developed Markets ETFIDEV313%
ARK Web x.0 ETFARKW299%
iShares U.S. Financials ETFIYF226%
VelocityShares 3X Inverse Natural Gas ETNDGAZ213%
WisdomTree Yield Enhanced U.S. Aggregate Bond FundAGGY204%
iShares J.P. Morgan EM Local Currency Bond ETFLEMB202%
ETFMG Prime Mobile Payments ETFIPAY193%
Vanguard Health Care ETFVHT193%

Industry Updates

Launches

  • Global X Thematic Growth ETF GXTG, 50bps
  • Global X Video Games & Esports ETF HERO, 50bps

Filings

  • Syntax Stratified MidCap ETF
  • Syntax Stratified SmallCap ETF
  • iShares launches 9 new iBonds Term Treasury ETFs for terms ending Dec 2021-Dec 2029
  • Collaborative Investment Series Trust files for 6 ETFs
    • Trend Aggregation U.S. Equity ETF
    • Trend Aggregation ESG ETF
    • Trend Aggregation Managed Futures ETF
    • Trend Aggregation Dividend Stock ETF
    • Trend Aggregation Aggressive Growth ETF
    • Trend Aggregation Cannabis ETF

Closings

  • DWS is set to close 5 Xtrackers ETFs
    • Xtrackers MSCI South Korea Hedged Equity ETF DBKO
    • Xtrackers FTSE Emerging Comprehensive Factor ETF DEMG
    • Xtrackers Russell 2000 Comprehensive Factor ETF DESC
    • Xtrackers Barclays International Corporate Bond Hedged ETF IFIX
    • Xtrackers Barclays International Treasury Bond Hedged ETF IGVT

Expense Ratio Changes

  • SSgA updated expense ratios on 5 ETFs
    • SPDR MFS Systematic Growth Equity ETF SYG, 61→60bps
    • SPDR S&P 1500 Value Tilt ETF VLU, 13→12bps
    • SPDR S&P Kensho Future Security ETF FITE, 46→45bps
    • SPDR S&P Kensho Intelligent Structures ETF SIMS, 46→45bps
    • SPDR S&P Kensho Smart Mobility ETF HAIL, 46→45bps
  • AGFiQ Changed increased expense ratios on 5 ETFs
    • AGFiQ U.S. Market Neutral Anti-Beta Fund BTAL, 76→211bps
    • AGFiQ Hedged Dividend Income Fund DIVA, 75→110bps
    • AGFiQ Dynamic Hedged U.S. Equity ETF USHG, 55→87bps
    • AGFiQ U.S. Market Neutral Momentum Fund MOM, 188→262bps
    • AGFiQ U.S. Market Neutral Value Fund CHEP, 112→191bps
  • AdvisorShares changed the expense ratios of their entire ETF lineup
    • AdvisorShares Ranger Equity Bear ETF HDGE, 272→312bps
    • AdvisorShares Sage Core Reserves ETF HOLD, 35→104bps
    • AdvisorShares Dorsey Wright ADR ETF AADR, 88→110bps
    • AdvisorShares Newfleet Multi-Sector Income ETF MINC, 69→76bps
    • AdvisorShares DoubleLine Value Equity ETF DBLV, 90→91bps
    • AdvisorShares Dorsey Wright Short ETF DWSH, 99→307bps
    • AdvisorShares Pacific Asset Enhanced Floating Rate ETF FLRT, 114→113bps
    • AdvisorShares Focused Equity ETF CWS, 68→85bps
    • AdvisorShares STAR Global Buy-Write ETF VEGA, 206→35bps
    • AdvisorShares Vice ETF ACT, 75→99bps
    • AdvisorShares FolioBeyond Smart Core Bond ETF FWDB, 141→131bps
    • AdvisorShares Dorsey Wright Micro-Cap ETF DWMC, 99→125bps
  • Cohen & Steers Global Realty Majors ETF GRI, 55→35bps
  • VictoryShares Emerging Market High Div Volatility Wtd ETF CEY, 50→51bps
  •  GraniteShares HIPS U.S. High Income ETF HIPS, 130→127bps
  • WBI increased expense ratio on two ETFs
    • WBI BullBear Global Income ETF WBII, 128→129bps
    • WBI BullBear Quality 3000 ETF WBIL, 107→121bps