The week started off shaky as the Trump administration reinstated tariffs on steel and aluminum for Argentina and Brazil and also mentioned US-China tensions might be pushed off until after the US election. A strong jobs report helped US equities to finish the week off on a more solid note.
European equities were mixed, driven by major political headlines coming out of the UK and economic data from November that potentially signals the eurozone economy has somewhat stabilized.
Japanese markets saw gains for the week, driven by a recent ¥13T fiscal stimulus package announced by prime minister Shinzo Abe.
Chinese equities also gained after weeks of declining, driven by positive sentiments around a partial US-China Trade deal from Chinese investors.
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One Week ETF Trends
US Listed ETFs – Equity – 1 Week Best & Worst Returns
The iShares MSCI Chile ETF ECH saw huge gains last week. With all of the political volatility the country has seen, there are now hopes around reform of the country as the government has been discussing a potential $5.5 billion economic recovery plan.
Energy and biotech ETFs also posted significant gains for the week.
The Global X MSCI Greece ETF GREK saw the biggest decline last week, followed by cannabis ETFs YOLO and TOKE.
US Listed ETFs – Fixed Income – 1 Week Best & Worst Returns
Interesting trend as two inflation hedged ETFs LQDI and IVOL led fixed income ETF returns for last week.
The long LIBOR ETN ULBR saw the worst fixed income ETF performance.
US Listed ETFs – Equity – 1 Week Top Inflows & Outflows
IVV and IWM led equity inflows, while QQQ saw a billion in outflows.
US Listed ETFs – Fixed Income -1 Week Top Inflows & Outflows
Bond index ETF AGG led inflows for last week, followed by high yield bond ETF JNK.
Intermediate-term Treasury bond ETF IEF had the largest outflows, followed by iShares Preferred and Income Securities ETF PFF.
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.
|iShares Commodities Select Strategy ETF||COMT||355%|
|iShares iBonds Dec 2025 Term Corporate ETF||IBDQ||268%|
|Goldman Sachs ActiveBeta International Equity ETF||GSIE||226%|
|FlexShares Quality Dividend Index Fund||QDF||224%|
|iShares MSCI France ETF||EWQ||223%|
|iShares Core MSCI Pacific ETF||IPAC||218%|
|SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF||HYMB||213%|
|Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF||PDBC||213%|
|Xtrackers MSCI Europe Hedged Equity ETF||DBEU||209%|
|Invesco Dynamic Large Cap Value ETF||PWV||208%|
- Innovator S&P 500 Ultra Buffer ETF – December UDEC, 79bps
- Timothy Plan’s rolls out US small Cap and international ETFs.
- Timothy Plan US Small Cap Core ETF TPSC, 52bps
- Timothy Plan International ETF TPIF, 62bps
- North Shore Global Uranium Mining ETF URNM, 85bps
- JPMorgan BetaBuilders International Equity ETF BBIN, 7bps
- First Trust launches Active Factor ETF suite with a small cap, mid cap, and large cap product
- First Trust Active Factor Small Cap ETF AFSM, 75bps
- First Trust Active Factor Mid Cap ETF AFMC, 65bps
- First Trust Active Factor Large Cap ETF AFLC, 55bps
- Syntax Stratified U.S. Equities ETF, which invests in ETFs or underlying securities that provide Stratified Weight exposure to companies in the S&P Composite 1500 index.
- Hartford filed for a new fixed income ETF, the Hartford Core Bond ETF.
Expense Ratio Changes
- Franklin Liberty International Opportunities ETF FLIO, 60-65bps
- The VanEck Vectors High Income MLP ETF YMLP, tracking the Solactive High Income MLP Index has changed names and is now the VanEck Vectors Energy Income ETF EINC, 45bps.