/Regaining Record Highs

Regaining Record Highs

Monday, August 17, 2020 – The S&P 500 has climbed nearly all the way out of its COVID-19 slump, finishing the week within half a percent of its February 19th record high. Meanwhile, for the first time since March, initial weekly jobless claims fell below 1 million – but storm clouds linger.

Washington remains deadlocked over another round of coronavirus stimulus. Loose monetary policy has some investors fearing the formation of another bubble. COVID-19 continues to ravage the nation, infecting more than 50,000 people daily, with a death toll that remains above 1,000 people per day, threatening fledgling attempts to reopen the U.S. economy.

For the week, the S&P 500 climbed 0.6%, with the Dow Jones Industrial Average up 1.8% and the Nasdaq Composite rising 0.1%.

Equity Exposure Report: COVID-19 has forced millions of people to transform their homes into offices. This week, we’ll learn more about which big box retailers capitalized, as Home Depot, Lowe’s, Walmart and Target are all due to release earnings reports. These are the ETFs weighted most heavily with Home Depot stock: Consumer Discretionary Select Sector SPDR ETF (XLY), VanEck Vectors Retail ETF (RTH), iShares U.S. Consumer Services ETF (IYC), iShares Evolved U.S. Discretionary Spending ETF (IEDI), and Vanguard Consumer Discretionary ETF (VCR).

ETFG Quant Movers – The ETFs that had the largest weekly change in their respective, overall ETFG Quant ratings.

ETFG Quant Winners: This week, we highlight the biggest increases in the ETFG Quant Behavioral model. The top 5 Behavioral gainers were: Innovator IBD ETF Leaders ETF (LDRS), JPMorgan Long/Short ETF (JPLS), Xtrackers FTSE Developed ex US Comprehensive Factor ETF (DEEF), AdvisorShares Vice ETF (ACT), and SPDR S&P Biotech ETF (XBI).

ETFG Quant Losers: The biggest decreases in the ETFG Quant Behavioral model this week were charted by: Schwab Fundamental Emerging Markets Large Company Index ETF (FNDE), iShares Evolved U.S. Technology ETF (IETC), VanEck Vectors Coal ETF (KOL), Invesco FTSE RAFI Developed Markets ex-U.S. ETF (PXF), and SPDR Solactive Germany ETF (ZDEU).

ETFG Weekly Select List: The five most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model.

This week, we focus on Large Cap ETFs, which were led by: Invesco S&P 500 High Beta ETF (SPHB), Forensic Accounting Long-Short ETF (FLAG), ALPS Sector Dividend Dogs ETF (SDOG), Invesco Russell Top 200 Pure Growth ETF (PXLG), and ProShares S&P 500 Aristocrats ETF (NOBL).

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 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.

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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.

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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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