ETFLogic Weekly Update 3/15

Welcome to ETFLogic’s Weekly Newsletter.

March Madness is here! And while everyone is waiting in anticipation for the basketball action to come, here’s the ETF action you missed last week…

One Week Trends

US Listed ETFs - Equity Baskets - 1 Week Best & Worst Returns

Last weeks top equity winners are quite diverse, including two Columbia names, 2 oil names (XES and IEZ bouncing back up a bit from last weeks significant ~7% losses), marijuana, Austria, Greece, and in honor of Women’s History month SHE – the SPDR SSGA Gender Diversity Index.

Taking a look at last weeks worst performers, Gold and Precious Metal ETFs seem to be the biggest loser with GDXJ, SILJ, GOEX, RING, GDX, SGDJ, SGD all posting at least -2%. Also two major China names ASHS & CNXT made top losers as China’s economic slowdown remains a top concern to investors across the board.

US Listed ETFs - Equity Baskets - 1 Week Best & Worst Returns

Emerging Market debt ETFs dominated the winners this week,  led by FEMB First Trust Emerging Markets Local Currency Bond ETF.

Longer duration U.S. fixed income ETFs were at the bottom including five Treasury names (VGLT, SPLT, TLT, EDV, ZROZ) as 10-year treasury yields  hit 2019 lows last week.

US Listed ETFs - Equity Baskets - 1 Week Inflows & Outflows

Last week saw huge equity inflows of $20B; with VOO, SPY, IVV, and QQQ making up a whopping 70% of that.

While there were no strong trends in worst performers, top outflows came from two sectors in particular: technology (XLK and VGT) and Industrials (DIA and XLI).  Other names included small cap value IJS, real estate VNQ, Japan EWJ, Developed Markets EFA, Total US market ITOT, and the NASDAQ US Dividend Achievers Select Index tracking Vanguard Dividend Appreciation ETF VIG.

US Listed ETFs - Fixed Income Baskets - 1 Week Inflows & Outflows

HYG led that pack last week with $845mm of inflows. IEF,  iShares 7-10 year Treasury Bond ETF, had largest outflows. 
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
New  Launches
  • Newcomer, RYZZ Capital Management, launched its first ETF today with Sunrise Capital as the subadvisor.  
    • The RYZZ Managed Futures Strategy, RYZZ, 99bps
    • Seeks positive absolute and risk-adjusted returns by blending a dynamic equity strategy with complementary long/short managed futures strategies
New Filings
  • KraneShares filed for 2 new ETFs
    • KFA Large Cap Quality Dividend Index
    • KFA Small Cap Quality Dividend Index
  • Blackrock files for the iShares Genomics and Immuno Biopharma
  • Absolute Shares Trust files for 6 new ETFs
    • WBI BullBear Trend Switch US 1000 
    • WBI BullBear Trend Switch US 1000 Total Return
    • WBI BullBear Trend Switch US 2000 
    • WBI BullBear Trend Switch US 2000 Total Return
    • WBI BullBear Trend Switch US 3000 Total Return 
    • WBI BullBear Trend Switch US Total Return
Changes
  • First Trust is doing some renovations on two of its ETFs
    • First Trust NASDAQ Smartphone Index Fund FONE, index, ticker and objective will change, effective May 29. 
      • FONE will be adopting an index with a tilt toward 5G-specific technology 
      • Renamed First Trust Indxx NextG ETF, NXTG
    • First Trust Heitman Global Prime Real Estate ETF PRME will be merging into the First Trust FTSE EPRNA/NAREIT Developed Markets Real Estate, FFR, by end of year. 
ETF Name     Ticker   % diff
WBI BullBear Global High Income  WBIH 261.91%
WBI BullBear Global Income WBII 259.12%
iShares Core Total USD Bond Market IUSB 203.87%
iShares U.S. Financial Services IYG 131.54%
SPDR Dow Jones REIT RWR 118.84%
PIMCO Investment Grade Corp. Bond Index CORP 115.87%
Vanguard Communication Services VOX 102.58%
Schwab U.S. Large-Cap Value SCHV 99.97%
iShares Edge MSCI U.S.A. Size Factor SIZE 94.60%
SPDR Portfolio S&P 500 High Dividend SPYD 92.50%