/1Q Earnings Support

1Q Earnings Support

Monday, April 22, 2019– As earnings season for the first quarter kicked off, stock markets remained relatively quiet keeping their 2019 gains intact. Earnings for Q1 were generally set to be modest and the start of the season has seen many companies beating these estimates.

For the shortened 4-day week, the Dow Jones Industrial Average gained 147.24 points, or 0.6%, to close at 26,559.54, while the S&P 500 lost only 0.1% to 2905.03 and the Nasdaq Composite advanced 0.2% to 7998.06.
In ETFs, we see outflows in a wide variety of products for the month of April. EFA, The iShares MSCI EAFE ETF, IWM, the iShares Russell 2000 ETF and QQQ, the Invesco Nasdaq ETF lost assets of $2.14B, $1.58B and $1.38B respectively in the month of April. For inflows, investors have picked up more shares of S&P 500 tracked ETFs with SPY taking in over $8.74B and IVV, which is iShares S&P 500 Product, gaining 3.07B to its AUM, all according to our ETFG Fund Flow Summary.
In the ETFG Quant Movers, we saw a broad base of products gain percentage points to their overall scores. The iShares US Medical Devices ETF (IHI), the Invesco India ETF (PIN) and the Franklin FTSE Taiwan ETF (FLTW) added 24.19%, 18.57% and 16.27% to their overall Quant scores respectively.
On the loser’s side, we saw factor-based ETFs. The Alpha Architect Value Momentum Trend ETF, VMOT and the Oppenheimer Russell 2000 Dynamic Multifactor ETF, OMFS saw a 16.59% and 16% decline to their overall quant scores respectively.
Because of the geographic regions’ success in the major indexes this week, we’d like to highlight some substantial movement in the broad equity, developed markets portion when comparing this week’s Select List to last. The WisdomTree Europe Hedged Equity Fund (HEDJ) moved up one spot to take the first overall position on the list. This knocked the Global X Health & Wellness Thematic ETF (BFIT) out of the highest position and into 2nd place. The third overall spot remained the same with First Trust RiverFront Dynamic Developed International ETF, (RFDI) keeping the stronghold. (EFA). The iShares MSCI EAFE ETF, moved into the 4th position this week after not being on the list last. It took over for the iShares Edge MSCI Multifactor Intl ETF (INTF) which is now in the 5th overall spot, knocking the Invesco International Dividend Achievers ETF (PID) out of the top 5.
From all of us at ETF Global, we would like to wish our readers a very Happy Easter and Happy Passover!
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Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.
ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor’s currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

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Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.

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This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor’s currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

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