ETF Action Research

Daily Note

7.15.2020

Breakdown of the previous day's market action through the lens of ETFs

Major averages bounce on positive vaccine trial results
Energy & materials lead while banks falter on mixed earnings results
Dev Ex-U.S. advances but EM flat
Dollar remains near YTD lows

Daily Note

7.14.2020

Breakdown of the previous day's market action through the lens of ETFs

Major averages reverse course, S&P 500 (SPY) finishes 87 basis points lower
Banks lead U.S. sectors and industries for second consecutive day (KRE +1.42%, KBE +1.18%)
Gold (GLD) gains 0.12%, over $4 billion in net inflows over past 30 days
U.S. Aggregate (AGG -0.01%) largely unchanged, 10-year treasury yield sitting at 0.61%

Daily Note

7.12.2020

Breakdown of the previous day's market action through the lens of ETFs

Value outpaces growth across all sizes, small-value (IJS) leads gaining 2.70%
Banks lead U.S. industries on Friday, regional banks (KRE) gain 4.94%
WTI crude (USO) advances 2.18% while gold (GLD) falls 26 bps
U.S. Dollar remains subdued (UUP -0.15%)

Daily Note

7.10.2020

Breakdown of the previous day's market action through the lens of ETFs

Small-caps lag (IJR -2.29%) while large-growth (IVW +0.13%) only size & style to advance
Semiconductors lead all U.S. sectors and industries, XSD gains 1.70%
SPDR S&P Internet ETF (XWEB) leading U.S. industries YTD, up 35%
U.S. Dollar (UUP) rises 35 bps, 1-year correlation to S&P 500 is -0.32

Daily Note

7.8.2020

Breakdown of the previous day's market action through the lens of ETFs

Major averages take a breather, S&P 500 (SPY) falls 1.03%
Small-caps lag (IJR -2.02%) on the day, trail large-caps by 1.68% over last month
Biotech (XBI +1.88%) leads all U.S. sectors and industries, up ~12% over last month
Long-term treasuries (TLT) continue to march higher, up 5.95% over last month

Daily Note

7.6.2020

Breakdown of the previous day's market action through the lens of ETFs

S&P 500 (SPY) rises ahead of holiday weekend, up 55 basis points on Thursday
Tech sector (XLK) makes new 52-week high, Energy still 42% below 52-week high
Momentum and Quality factor ETFs regain near-term relative strength from value and size
Dollar gains 0.08% as it finds stability at current levels

Daily Note

7.2.2020

Breakdown of the previous day's market action through the lens of ETFs

Sizes & styles mixed while S&P 500 finishes 70 basis points higher
Real Estate, Comm Services, and Utilities lead with all three sectors rising over 2%
U.S. Dollar (UUP) falls 0.23%, down 0.72% over last month
Broad commodities (DJP) gains 0.45% on rise in Energy despite declines in gold (GLD -0.45%) and silver (SLV -1.12%)

Daily Note

7.1.2020

Breakdown of the previous day's market action through the lens of ETFs

Large-cap growth (IVW) leads U.S. sizes and styles, up 1.67%
Semiconductors lead U.S. sectors & industries (XSD +2.93%), up 6% YTD
Industrial sector sees $1.8 billion in net inflows over last 30 days
EM falls 50 bps while dev ex-U.S. is flat on the day (VWO -0.50%, VEA -0.03%)
Gold continues to march higher (GLD +0.44%), up 17% YTD

Daily Note

6.30.2020

Breakdown of the previous day's market action through the lens of ETFs

Domestic equities advance, S&P 500 (SPY) rises 1.47%
Boeing surges 14% on positive 737 MAXX news, Aerospace & Defense industry leads (XAR 4.52%)
Tech & Healthcare lead net inflows over last week, Financials lead net outflows
U.S. Aggregate (AGG) gains 8 bps (+6.18% YTD), 10-year treasury yield at 0.62%

Daily Note

6.28.2020

Breakdown of the previous day's market action through the lens of ETFs

COVID cases increase as major averages sell off, S&P 500 falls 2.38%
Cyclical industry volatility continues, oil & gas industries down 4-5% (XES,XOP0), banks down 6% (KBE,KRE)
Gold (GLD) gains 1.53% during week while taking in another $1 billion
Energy falls (DBE) on Friday with Gasoline (UGA) falling 5.64%

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