/Weekly Whipsaw?

Weekly Whipsaw?

Monday, December 10, 2018 – It was a tough week for the US markets as trade war issues continued to weigh down on stocks. The week capped off with all 3 major US indices down substantial percentages. For the week, the Dow Jones Industrial Average gave up almost all the ground it gained last week losing over 1,100 points or 4.5% to 24,388.  The S&P 500 fell 4.6% to 2,633 and The Nasdaq Composite lost 4.9% to 6,969.

In ETFs, even with the downward pressure on major indices, the world’s largest fund saw inflows in the first 5 trading days of December. SPY, took in more than 2.7B while iShares Emerging Markets ETF IEMG, also saw net flows taking in over $2.5B. In outflows, we saw fixed income ETFs losing some ground. iShares iBoxx Investment Grade Corporate Bond ETF (LQD), iShares iBoxx High Yield Corporate Bond ETF (HYG) and SPDR Bloomberg Barclays High Yield Bond ETF (JNK) saw net outflows of $1.59B, $1.14B and $1.04B respectively.
In the ETFG Quant Movers, we saw sector based ETPs gain the most percentage points to their overall scores. The iShares U.S. Oil Equipment & Services ETF (IEZ) and ProShares S&P Ex-Technology ETF (SPXT) added 9.82% and 7.99% to their overall Quant scores respectively.
In the loser’s column, we saw small cap ETPs dropping some percentage points to their overall score. The SPDR Portfolio Small Cap ETF (SPSM) and the IQ Chaikin U.S. Small Cap ETF (FFSG) lost 12.39% and 9.42% to their overall scores respectively.
Because of the sector’s success in the major indexes this week, we’d like to highlight some substantial movement in the Basic Materials portion when comparing this week’s Select List to last. The iShares MSCI Global Silver Miners ETF (SLVP) jumped up one spot to the first overall position to be the top ranked fund in the sector. It took over for the Global X Silver Miners ETF (SIL) which got knocked out of the top 5 this week by the iShares MSCI Global Gold Miners ETF (RING) which is now in the 2nd ranked spot. The SPDR S&P Metals & Mining ETF (XME) jumped up one spot to the 3rd overall position. Rounding out the bottom of the top 5 were two VanEck funds, GDX and GDXJ which are their gold miners and junior gold miners ETF. 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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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.

The information contained in this report does not constitute advice on the tax consequences of making any particular investment decision.  This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation of particular securities, financial instruments or strategies to you nor is it considered to be investment advice. Before acting on any recommendation in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice.