ETF Action Research

 U.S. Size & Style Playbook

7.13.2020

An overview of the broad U.S. Size & Style ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Over $6 billion flow out of size & style ETFs (page 2)
  • U.S. total market gains 1.38% (ITOT), growth outperforms value across all sizes (again) (page 3)
  • Large-cap growth valuation multiples trading at greater premium than prior to COVID selloff (page 5)

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 Asia-Pacific Playbook

7.13.2020

An overview of the Asia-Pacific  ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • China ses $525 million in net inflows but still down $2 billion over last three months (page 2)
  • Emerging Asia-Pacific (EEMA +5.26%) outperforms Developed Asia-Pacific (IPAC +0.56%) during the week (page 3)
  • China (MCHI) and Emerging Asia (EEMA) cross into overbought territory (page 11)

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Europe Playbook

7.13.2020

An overview of the European ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Flows favor Germany and the U.K. (+$79MM and +33MM, respectively)  (page 2)
  • 14 of 19 countries rise during the week, Developed Europe (IEV) finishes up 1.05% (page 3)
  • PMI manufacturing beginning to rise for several countries; Germany PMI up 3.10 to 45 (still in contraction)

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U.S. Sector Playbook

7.13.2020

An overview of the U.S. Sector ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Materials and Tech lead sectors in net outflows (-$981MM and -$705MM, respectively) (page 2)
  • S&P 500 gains 2.67% during the week, Energy lags (XLE -4.82%) again while Comm Services leads (XLC +4.53%) (page 3)
  • Tech, Financials, Energy, and Health Care earnings revisions maknig small moves higher (page 6)

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 Latin America Playbook

7.13.2020

An overview of the Latin America  ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Mexico sees $47 in net outflows (page 2)
  • Region rises 1.57% (ILF), Argentina leads (AGT +6.67%) (page 3)
  • Every country in the region trading at valuation discounts relative to historical averages (page 6)

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 Latin America Playbook

7.1.2020

An overview of the Latin America  ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • More net inflows for Mexico ETFs, $146 million in over last 3 months (page 2)
  • Region falls 4.67% (ILF), Brazil lags (EWZ -5.05%) (page 3)
  • Every country in the region trading at valuation discounts relative to historical averages (page 6)

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 U.S. Sector Playbook

6.30.2020

An overview of the U.S. Sector ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Utilities only U.S. sector to see net inflows during week with $486MM (page 2)
  • S&P 500 falls 2.78% during the week, Energy lags (XLE -6.56%) and Tech (XLK -0.42%) leads (page 3)
  • Downward revisions to earnings seem to be finding a floor (page 6)

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 Fixed Income Playbook

6.30.2020

An overview of the Fixed Income ETF landscape - Performance, Flows, Rates, Spreads, and the Fed.

  • 10-year treasury yield falls 5 basis points to 0.64% (page 3)
  • US Aggregate (AGG) gains 0.18% over the week, Long-term treasuries lead (TLT +1.76%) (page 3)
  • Another $3.6 billion into investment grade corporate ETFs ($37 billion over last 3 months) (page 2)
  • Assets on Fed balance sheet leveling off just above $7 billion(page 5)

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 U.S. Size & Style Playbook

6.30.2020

An overview of the broad U.S. Size & Style ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Mid-cap growth leads in net inflows with $2.2 billion (page 2)
  • U.S. total market falls 2.81% (ITOT), growth outperforms value across all sizes (again) (page 3)
  • All sizes and styles sitting in neutral territory basedon 14-day RSI (pages 7-9)

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 U.S. Size & Style Playbook

6.22.2020

An overview of the broad U.S. Size & Style ETF landscape - Performance, Flows, Valuations, Earnings, & Technicals.

  • Nearly $12 billion flow into broad-based U.S. size & style ETFs (page 2)
  • U.S. total market gains 2.20% (ITOT), growth outpeforms value across all sizes (again) (page 3)
  • Large-cap growth (IVW) has ranked in the top 3 of all sizes & styles in performance every month this year (page 3)

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