/Eking Out Gains

Eking Out Gains

Monday, February 11, 2019 – Though volatile, the major US indices finished the week off not too far from where they started. A welcoming sign to the continued strength that the markets have seen since the start of the year even though there has been some stomach-churning headlines coming both globally and domestically.

For the week, the Dow Jones Industrial Average finished up about 50 points while the S&P 500 gained 5 points and The Nasdaq Composite was up about 34.
In ETFs, we saw major inflows into Emerging Market ETFs and Corporate Bond ones as well.  IEMG, iShares Core Emerging Markets ETF, took in more than 3.55B, about 8.5% of its AUM. VCSH and VCIT, both Vanguard Corporate Bond ETFs, also saw net flows of 3.01B and 2.57B respectively. In outflows, we continue to see money leaving major US index tracked ETFs. IVV and SPY, both of which track the S&P 500 have seen outflows of 7.25B and 7.07B in the month of February or over 4% and 2% of their overall AUM respectively.
In the ETFG Quant Movers, we saw volatility based ETPs gain the most percentage points to their overall scores. The VictoryShares US 500 Enhanced Volatility wtd ETF (CFO) and VictoryShares US EQ Income Enhanced Volatility wtd ETF (CDC) added 8.12% and 7.52% to their overall Quant scores respectively.
Because of the sector’s success in the major indexes this week, we’d like to highlight some substantial movement in the Industrials portion when comparing this week’s Select List to last. The First Trust NASDAQ Global Auto Index Fund (CARZ) jumped up one spot to the first overall position to be the top ranked fund in the sector. It took over for a fellow First Trust product, FTXR which got knocked out of the top 5 this week by the Fidelity MSCI Industrials Index ETF (FIDU) which is now in the 3RD ranked spot. The First Trust Global Engineering and Construction ETF (FLM) stayed put in the 2ND overall position. Rounding out the bottom of the top 5 were the SPDR Kensho Future Security ETF (XKFS) and the iShares Transportation Average ETF (IYT). They finished 4th and 5th respectively.
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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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