WEEKLY UPDATE 11/22

US equities declined slightly after six weeks of gains, and volatility remained low. US bond markets were affected by uncertainty over the US-China trade deal, and longer term bond yields fell for the week.

The trade uncertainties carried over to Europe, and European equity indices felt the squeeze.

In China, equities fell as US brought about legislation in support of Hong Kong protesters ahead of the potential trade talks.

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One Week ETF Trends

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

The Reality Shares DFND, which has a unique forward-looking dividend rating system, led equity returns for the week. Cannabis ETFs made a pretty big comeback last week as well.

Precious metals and semiconductors posted the biggest declines for last week, led by SILJ and FTXL.

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

Long term treasury ETFs led fixed income again last week, led by ZROZ for the second week in a row.

High Yield bonds and emerging markets were last week’s losing trends.

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

SPY saw the largest equity inflows, followed by iShares EDGE MSCI products USMV and QUAL.

QQQ saw the largest outflows for last week, followed by IWM.

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

Mid-term Treasury bond ETF IEF led fixed income flows for the week, followed by 1-5 year corporate bond ETF ISTB.

Short Treasury bond ETF SHV saw the largest outflows, followed by high yield bond ETFs JNK and HYG.

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.
Invesco BuyBack Achievers ETFPKW307%
iShares Core International Aggregate Bond ETFIAGG300%
WisdomTree Emerging Markets ex-State-Owned Enterprises FundXSOE287%
FlexShares STOXX Global Broad Infrastructure Index FundNFRA283%
iShares U.S. Consumer Services ETFIYC267%
Vanguard Mega Cap ETFMGC211%
Vanguard Extended Market ETFVXF208%
iShares International Treasury Bond ETFIGOV198%
JPMorgan BetaBuilders Europe ETFBBEU194%
Xtrackers USD High Yield Corporate Bond ETFHYLB190%

Industry Changes

Launches

  • FT Cboe Vest U.S. Equity Buffer ETF – November FNOV, 85bps
  • FT Cboe Vest U.S. Equity Deep Buffer ETF – November DNOV, 85bps
  • AAM Low Duration Preferred and Income Securities ETF PFLD, 45bps

Filings

  • Armor Emerging Markets Equity Index ETF
  • Armor International Equity Index ETF
  • Armor US Equity Index ETF

Expense Ratio Changes

  • Global X E-commerce ETF EBIZ, 68→50bps
  •  iShares MSCI EAFE ETF EFA, 31→32bps
  •  iShares MSCI ACWI ETF ACWI, 31→32bps
  •  iShares MSCI EAFE Small-Cap ETF SCZ, 39→40bps
  • iShares MSCI EAFE Value ETF EFV, 38→39bps
  • iShares MSCI ACWI ex U.S. ETF ACWX, 31→32bps
  • iShares MSCI All Country Asia ex Japan ETF AAXJ, 67-68bps
  • iShares Currency Hedged MSCI ACWI ex U.S. ETF HAWX, 34-35bps
  • iShares Currency Hedged MSCI EAFE Small-Cap ETF HSCZ, 42-43bps
  • Legg Mason Small-Cap Quality Value ETF SQLV, 60-62bps
  • iShares Adaptive Currency Hedged MSCI EAFE ETF DEFA, 34-35bps