Headlines on the coronavirus struck panic and concerns over a massive global economic slowdown as the virus quickly spread outside of the Wuhan province in China.
US equity benchmarks dipped over the week despite overall strong earnings reports, and suffered the heaviest losses on Friday when the World Health Organization declared the outbreak a global health emergency.
The Fed voted to keep the current monetary policy, and treasuries and other higher-quality segments of the fixed income market rallied in the wake of the virus.
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One Week ETF Trends
US Equity ETFs Best & Worst Performers
Egypt led a rally in emerging markets, and the VanEck Egypt Index ETF EGPT ended the week up 2.62%.
The unique tech ETFs FNGS, ARKW, and WCLD also had top performance.
ESG has been a growing trend, so not surprising to see ALPS Clean Energy ETF ACES on the list as well.
Not a single Chinese ETF made the list for worst performers last week – which probably is surprising to many. This is because of the fact that the markets were completely closed last week as Chinese officials extended the Lunar new year by three days as an economic countermeasure against the virus fears.
Other Asian equities took a hit though due to the chaos, particularly Vietnam ETF VNM and South Korean ETFs EWY and FLKR.
US Fixed Income ETFs Best & Worst Performers
Long term Treasury ETFs took home the medal this week in the fixed income performance category, led by LTPZ. Overall, Treasuries rallied as the yield of the benchmark 10-year Treasury note fell to the lowest level since last September.
Emerging markets bonds ETFs VWOB and EMB also made the list of top equity performers.
The VelocityShares Long LIBOR ETN ULBR saw a massive drop as Britain officially broke off from the EU.
US Equity ETFs Top Inflows & Outflows
VOO experienced a massive $5.4B inflows over the week, while SPY saw $2.1B in outflows.
Select sector funds XLK, XLI, XLY, and XLE also experienced significant outflows.
US Fixed Income ETFs Top Inflows & Outflows
Bond market index funds BND and AGG led fixed income flows last week, and a number of Treasury bond ETFs made the list as Treasuries rallied.
Shorter-term fixed income ETFs experienced significant outflows as investors looked longer-term due to economic concerns.
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.|
|ProShares UltraShort FTSE China 50||FXP||306%|
|iShares Broad USD High Yield Corporate Bond ETF||USHY||262%|
|Direxion Daily FTSE China Bear 3X Shares||YANG||255%|
|Janus Henderson Mortgage-Backed Securities ETF||JMBS||239%|
|JPMorgan BetaBuilders Japan ETF||BBJP||207%|
|JPMorgan U.S. Aggregate Bond ETF||JAGG||206%|
|ProShares Ultra Technology||ROM||195%|
|Direxion Daily MSCI Emerging Markets Bear 3X Shares||EDZ||187%|
|iShares MSCI Global Gold Miners ETF||RING||178%|
|Invesco China Technology ETF||CQQQ||177%|
- iShares Factors US Value Style ETF STLV, 25bps
- Day Hagan/Ned Davis Research Smart Sector ETF SSUS, 78bps
- Syntax Stratified MidCap ETF SMDY, 30bps
- First Trust TCW Securitized Plus ETF
- Goldman Sachs Energy Infrastructure Enhanced ETF
- American Century Mid Cap Growth Impact ETF
- American Century Sustainable Equity ETF
- Fidelity U.S. Multifactor ETF
- Cabana Target Drawdown 5 ETF
- Cabana Target Drawdown 7 ETF
- Cabana Target Drawdown 10 ETF
- Cabana Target Drawdown 13 ETF
- Cabana Target Drawdown 16 ETF
- JPMorgan Large Cap Growth ETF
- WisdomTree Dynamic Bearish U.S. Equity Fund, DYB
- WisdomTree CBOE Russell 2000 PutWrite Strategy Fund, RPUT
- WisdomTree Balanced Income Fund, WBAL
- Virtus Glovista Emerging Markets ETF, EMEM
- Pickens Morningstar Renewable Energy Response ETF, RENW
Expense Ratio Changes
- Vident International Equity Fund VIDI, 61-59bps
- Vident Core U.S. Equity Fund VUSE, 50-48bps
- Vident Core U.S. Bond Strategy ETF VBNB, 43-41bps
- SPDR S&P Midcap 400 ETF Trust MDY, 24-23bps
- ClearBridge All Cap Growth ETF CACG, 54-53bps
- Premise Capital Diversified Tactical ETF TCTL, 91-86bps
- First Trust Dorsey Wright Focus 5 ETF FV, 89-87bps
- Multi-Asset Diversified Income Index Fund MDIV, 71-73bps
- First Trust Dorsey Wright International Focus 5 ETF IFV, 103-106bps
- First Trust Dorsey Wright Dynamic Focus 5 ETF FVC, 89-71bps
- AI Powered Equity ETF AIEQ, 77-87bps
- Etho Climate Leadership U.S. ETF ETHO, 45-47bps
- Hartford Multifactor Small Cap ETF ROSC, 39-34bps
- SPDR EURO STOXX Small Cap ETF SMEZ, 46-45bps
- Hartford Multifactor Low Volatility U.S. Equity ETF LVUS, 21-19bps
- Innovator Lunt Low Vol/High Beta Tactical ETF LVHB, 52-49bps