Two Weeks Away – The French Presidential Elections … Hopefully not about to serve us another dose of either BREXIT or Make America Great Again a la Trump … For if it did … all bets would be off as far as stable markets …
A Marine Le Pen Presidente would put an end to the EURO, turn France inward and more xenephobic … Last week’s debate during which she lost her cool suggests the odds of her coming out on top are slim … but were it to happen … Watch out…
In the meantime – the US launched missile strikes this past week against an airbase in Syria, from which planes earlier in the week took off to go on a gas bombing mission against President Al Assad’s opponents – yet another murderous act of his regime strongly condemned by the United Nations… but somehow still supported by Russia …
- US – Payrolls came in below expectations for March … 98K vs 180K expected => Read More!
- President Trump – Acted in response to renewed chemical weapons attacks on the Syrian people by their Leader El Assad … What will Russia do?
- European unemployment – declined to lowest level in almost 8 years – 9.5% in February from 9.6% in January.
- BlackRock – downgrades European Fixed Income to Underweight
- Chinese President Xi – visits US president Donald Trump at his Mar-a-Lago club in Florida
- the US FED – opined on US equity valuations in their March meeting, observing that”Some participants viewed equity prices as quite high relative to standard valuation measures” …
Latest market numbers as seen through the ETFs providing exposure to the most commonly referred to benchmarks:
|XIU||S&P/TSX 60||0.88%||PXG||RAFI Global Fundamental||-0.27%||VCN||FTSE Canada All Cap Index ETF||0.73%|
|XIC||S&P/TSX Capped Composite||0.83%||PXS||RAFI US Fundamental Index||0.63%||VCE||FTSE Canada Index ETF||0.58%|
|CRQ||RAFI CDN Fundamental||0.26%||QQC/F||NASDAQ 100 CAD Hedged||-0.40%||VUN||CRSP US Total Market Index Unhedged||0.50%|
|XSP||S&P 500 CAD Hedged||-0.26%||PZC||RAFI CDN Small-Mid Fundam||2.49%||VSP||S&P 500 CAD Hedged||-0.31%|
|XUS||S&P500||0.53%||VXC||FTSE All-World Ex Canada Index ETF||0.42%|
|XMU||MSCI Min Vol US||0.79%||XXM/b||Morningstar US Value (Unh)||-0.91%||VEF||FTSE Developed ex North-Am CAD H||0.03%|
|CLU||RAFI US Fund 1000 CAD H||-0.59%||YXM/b||Morningstar US Momentum (Unh)||-0.56%||VDU||FTSE Developed ex North-America||0.06%|
|XSU||Russell 2000 CAD Hedged||-1.52%||FXM||Morningstar CDN Value||-1.02%||VE||FTSE Developed Europe||0.48%|
|XIN||MSCI EAFE CAD Hedged||0.04%||WXM||Morningstar CDN Momentum||0.45%||VA||FTSE Developed Asia Pacific||-0.06%|
|XEH||MSCI Europe IMI CAD H||-0.04%||VXM/b||Morningstar Intl Value (Unh)||-0.75%||VEE||FTSE Emerging Mkts||1.48%|
|XEC||MSCI EM IMI||0.89%||ZXM/b||Morningstar Intl Momentum (Unh)||0.83%||HAZ||Active Global Dividends||0.54%|
|XMM||MSCI Min Vol Emerging||1.31%||RWE||MSCI Europe Low Risk Weighted (H)||0.64%||HHF||Morningstar Hedge Fund Index||-0.36%|
|CWO||RAFI Broad Emerging||0.57%||HMF||Auspice Managed Futures||1.17%|
|CJP||RAFI Fundam Japan CAD H||-2.28%||ZDJ||Dow Jones CAD Hedged||0.03%||HAC||Seasonal Rotation||-0.21%|
|CDZ||CDN Div Aristocrats||0.66%||ZEQ||MSCI Europe High Quality CAD H||0.26%||HPR||Active Preferred Shares||1.18%|
|week of:||Apr 3-7, 2017||Source:||ETFinsight/Bloomberg|
Weekly Volumes for the week of Apr 3-7, 2017:
|weekly volume data:|
|Total Volume non-leveraged||$6,421,677,907|
|top 10 Volume non leveraged||$3,626,953,794|
|Total Volume leveraged||$1,596,782,957|
|top 5 Volume leveraged||$960,300,498|
|Total Volumes overall:||$8,018,460,865|
|Top 10 + Top 5:||$4,587,254,292|
|top 10 non leveraged % of total nl:||56.5%|
|top 5 leveraged % of total leveraged||60.1%|
|Top 10 + Top 5 as % of total traded:||57.2%|
iShares – Turnill: Three Investing themes for the second quarter
Tucker: 10 surprising facts about HYG
Vanguard – connecting with female investors => Click HERE to read more!
Horizons – 3 days in … Horizons’ Medical Marijuana Lifesciences ETF (HHMJ) has gather $37.6MM … Not a bad start. As the budding sector otherwise is undergoing bubble-like conditions … could this ETF lend more air to that bubble … AUM set to go hi (gher) if you ask me … but with risk of some getting hurt at some stage … the question being … when? Just like TO real estate…
Question – will we soon see HHMJ featured amongst the Seasonal Rotation ETF HAC holdings? Wonder what the seasonality of that play is? Or … is it pretty much an all season, recession proof type proposition …
First Asset – Also dumping the Advisors’ Series ETFs => Click HERE to read more!
BMO ETFs – Launching Global Sector ETFs => Click HERE to read more!
ETFinsight – April Monthly Perspectives: “Suspended Reality”. Q1 2017 saw strong AUM growth in the Industry, bolstered by record net issuance and constructive market contribution.
Top and Bottom performing ETFs for the week of Apr 3-7, 2017:
|Ticker||Name||% Change||Avg Price||Weekly Volume||$ Volume traded|
|Top Performers||week of||Apr 3-7, 2017|
|HMMJ CN Equity||Horizons Medical Marijuana Life Sciences ETF||6.27%||$10.52||6,715,742||$69,957,797|
|CCX CN Equity||Auspice Canadian Crude Oil Index ETF||5.58%||$8.66||83,187||$723,950|
|HUV CN Equity||BetaPro S&P 500 VIX Short-Term Futures ETF||4.88%||$5.63||84,989||$468,906|
|HEP CN Equity||Horizons Enhanced Income Gold Producers ETF||3.94%||$26.06||92,487||$2,428,230|
|ZID CN Equity||BMO India Equity Index ETF||3.77%||$21.74||101,933||$2,221,933|
|XGD CN Equity||iShares S&P/TSX Global Gold Index ETF||3.39%||$13.34||11,757,235||$156,430,994|
|ZGD CN Equity||BMO S&P/TSX Equal Weight Global Gold Index ETF||3.27%||$10.67||48,145||$517,228|
|FLB CN Equity||First Asset Long Duration Fixed Income Etf||2.88%||$19.30||102,864||$1,985,275|
|HUC CN Equity||Horizons Crude Oil ETF||2.72%||$11.90||80,464||$959,370|
|PZC CN Equity||PowerShares FTSE RAFI Canadian Small-Mid Fundamental Index ETF||2.49%||$20.54||26,000||$532,120|
|XXM/B CN Equity||First Asset Morningstar US Value Index ETF||-0.91%||$17.37||143,444||$2,495,635|
|XMH CN Equity||iShares S&P US Mid-Cap Index ETF CAD-Hedged||-0.94%||$16.90||95,617||$1,620,132|
|FXM CN Equity||First Asset Morningstar Canada Value Index ETF||-1.02%||$14.64||141,361||$2,071,633|
|FBU CN Equity||First Asset US Buyback Index Etf||-1.14%||$22.63||21,526||$486,922|
|ZUB CN Equity||BMO Equal Weight US Banks Hedged to CAD Index ETF||-1.36%||$25.45||2,821,491||$71,954,964|
|XCD CN Equity||iShares S&P Global Consumer Discretionary Index ETF(CAD-Hedged)||-1.51%||$30.82||14,417||$444,390|
|XSU CN Equity||iShares U.S. Small Cap Index ETF (CAD-Hedged)||-1.52%||$29.26||2,308,315||$67,485,634|
|XXM CN Equity||First Asset Morningstar US Value Index ETF||-1.80%||$13.12||66,593||$876,380|
|HBG CN Equity||Hamilton Capital Global Bank ETF||-1.85%||$20.82||13,964||$290,070|
|CJP CN Equity||iShares Japan Fundamental Index ETF CAD-Hedged||-2.28%||$13.85||366,624||$5,040,357|
Top Performing ETFs – Introduced Wednesday, the Horizons Medical Marijuana Lifesciences ETF (HHMJ) was off to a brisk start – both from an initial AUM accumulation perspective, as well as from a price performance standpoint … Volatility picked up, and the gold haven ETFs also gained ground, alongside crude related exposures.
Bottom Performing ETFs – Japan led to the downside, though considering the jitters an attack on Syria could well introduce into the overall risk mix, losses for the week were relatively modest … Question to be answered in coming weeks – is the reflation trade entirely over, or will it enjoy another shot at the upside?
Last week’s Sector Performance:
Materials led to the upside last week – on strength in the Goldcos space …
but if there was a subsector for Medicinal Majiruana … it would have led gainers…