Major indices hit record high territory last week as investor hopes ran high of a phase one US-China trade deal. Recession fears continued to diminish, despite continued mixed economic signals, and bond yields hit the highest level since July.
The US market rally and trade optimism carried itself over to European equity markets, although the IMF cut its eurozone growth forecast for 2019 from 1.3% to 1.2%.
Japanese markets experienced only 4 days of trading due to Culture Day on
Get our weekly update directly to your inbox
One Week ETF Trends
US Listed ETFs – Equity – 1 Week Best & Worst Returns
The NA Tech-Multimedia Networking ETF IGN led equity returns last week, followed by the actively managed AdvisorShares Pure Cannabis ETF YOLO.
Cannabis (YOLO & CNBS) was among a number of interesting winning trends, which included basic materials (PSCM, COPX, & PYZ), small caps (PSCM & BUY), healthcare (IHF), and aerospace and
Precious metals continued their decline as trade optimism continued to grow. Brazilian equities saw a steep decline after a disappointing round of oil auctions last week, leading EWZS and BRF to make the list of worst equity ETF performers.
US Listed ETFs – Fixed Income – 1 Week Best & Worst Returns
ULBR continued its rally this month, as overall concerns of a global economic recession have been diminishing.
Long term treasury ETFs
US Listed ETFs – Equity – 1 Week Top Inflows & Outflows
QQQ led equity inflows again last week, and ex-US and Canada international ETF IEFA also saw major inflows of $1.1B. The Utilities, Financials, and Consumer Discretionary Select Sector SPDRs all had significant inflows for the week.
Money continued to flow out of SPY last week, whos outflows far out shadowed other equity outflows for the week.
US Listed ETFs – Fixed Income -1 Week Top Inflows & Outflowss
Emerging Markets Bond ETF EMB led fixed income inflows with $292.4M, and as a category Emerging market ETFs saw significant inflows across the board last week.
The majority of outflows were from Treasury related ETFs, led by iShares 20+ year and 7-10 year Treasury ETFs TLT and IEF.
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 Name||Ticker||% Diff.|
|Schwab 5-10 Year Corporate Bond ETF||SCHI||382%|
|First Trust Dorsey Wright Momentum & Low Volatility ETF||DVOL||311%|
|Aberdeen Standard Physical Swiss Gold Shares ETF||SGOL||309%|
|Invesco DWA Utilities Momentum ETF||PUI||308%|
|iShares Morningstar Mid-Cap Growth ETF||JKH||303%|
|First Trust Nasdaq-100 Equal Weighted Index Fund||QQEW||301%|
|Fidelity MSCI Consumer Staples Index ETF||FSTA||277%|
|iShares Core MSCI Europe ETF||IEUR||264%|
|Invesco Variable Rate Preferred ETF||VRP||259%|
|SPDR MSCI ACWI ex-US ETF||CWI||256%|
- Innovator S&P 500 Power Buffer ETF – November PNOV, 79bps
- ETRACS 2x Monthly Leveraged Wells Fargo Diversified Business Development Company Index ETN Series B BDCY, 165bps
- ETRACS Bloomberg Commodity Index Total Return ETN Series B DJCB, 50bps
- ETRACS Monthly Pay 2xLeveraged Closed-End Fund ETN Series B CEFZ, 90bps
- Innovator S&P 500 Buffer ETF – November BNOV, 79bps
- Innovator S&P 500 Ultra Buffer ETF – November UNOV, 79bps
- Strategy Shares Newfound/ReSolve Robust Momentum ETF ROMO, 87bps
- Hartford Multifactor Small Cap ETF ROSC, 39bps
- Hartford Multifactor Diversified International ETF RODE, 29bps
- iPath Series B Carbon ETN GRN, 75bps
- ProShares Russell U.S. Dividend Growers ETF TMDV, 35bps
- FT Cboe Vest U.S. Equity Buffer ETF – August FAUG, 85bps
- FT Cboe Vest U.S. Equity Deep Buffer ETF – August DAUG, 85bps
- Direxion Daily Dow Jones Internet Bear 3X Shares WEBS, 107bps
- Direxion Daily S&P 500 High Beta Bull 3X Shares HIBL, 112bps
- Fidelity Stocks for Inflation ETF FCPI, 29bps
- Direxion Daily S&P 500 High Beta Bear 3X Shares HIBS, 107bps
- Global X Cybersecurity ETF BUG, 50bps
- Trajan Wealth Income Opportunities ETF
- Direxion MSCI USA ESG Universal Movers versus Laggards ETF
- Direxion S&P 500® High Quality versus Low Quality ETF
- Direxion Flight to Safety ETF
Expense Ratio Changes
- PIMCO Enhanced Short Maturity Active ETF MINT, 35-36bps
- PIMCO Active Bond ETF BOND, 55-56bps
- PIMCO 0-5 Year High Yield Corporate Bond Index ETF HYS, 55-56bps
- PIMCO Enhanced Low Duration Active ETF LDUR, 102-79bps
- AdvisorShares Sage Core Reserves ETF HOLD, 204-35bps
- UVA Unconstrained Medium-Term Fixed Income ETF FFIU, 46-51bps
- AdvisorShares STAR Global Buy-Write ETF VEGA, 35-204bps
- Vaneck Vectors Municipal Allocation ETF MAAX, 36-38bps
- WBI BullBear Trend Switch U.S. 3000 Total Return ETF WBIT, 68-67bps