Truthful Hyperboles (TWTW – June 12-16, 2017)

Truthful Hyperboles – … And the Trump Saga continueth, with testimony this past week from AG Jeff Sessions and from then, already discussions of when, or how, the 45th President might dismiss Mueller or even his boss … Where does that end?

On the business front, yielding to sustained stock price-performance related pressure, GE replaced its long time CEO Jeff Inmelt, the FED obliged by delivering a further 25bps of “Normalization” (yeah, right!) … and another Jeff – Amazon’s Bezos, this time around, made the news by going Wholefoods shopping to the tune of $13.7 B …

  • Recent Developments – the BoC is hinting at the possibility of rates being hiked going forward – in the process causing the Loonie to pop
  • UK Inflation – surges to 4 years high … but wage gains slow to lowest gains in two years
  • President Trump – seems to have succeeded in getting himself on the list as far as those to be interviewed in relation to the investigation into whether there was or not Russian interference in last November’s election, respectively if they were improprieties as far as what his campaign did, or didn’t do …
  • GE – A change of leadership at the top – will it see the conglomerate break up? In the meantime, how will the new CEO deal with the company’s $31 Billion Pension shortfall?

Latest market numbers as seen through ETFs providing exposure to the most commonly referred to benchmarks:

ticker name change ticker name change ticker name change
XIU S&P/TSX 60 -1.75% PXG RAFI Global Fundamental -2.36% VCN FTSE Canada All Cap Index ETF -1.75%
XIC S&P/TSX Capped Composite -1.53% PXS RAFI US Fundamental Index -1.68% VCE FTSE Canada Index ETF -1.50%
CRQ RAFI CDN Fundamental -2.18% QQC/F NASDAQ 100 CAD Hedged -0.98% VUN CRSP US Total Market Index Unhedged -1.70%
XSP S&P 500 CAD Hedged 0.11% PZC RAFI CDN Small-Mid Fundam 0.40% VSP S&P 500 CAD Hedged 0.12%
XUS S&P500 -1.73% VXC FTSE All-World Ex Canada Index ETF -1.89%
XMU MSCI Min Vol US -1.09% XXM/b Morningstar US Value (Unh) -2.40% VEF FTSE Developed ex North-Am CAD H -0.03%
CLU RAFI US Fund 1000 CAD H -0.03% YXM/b Morningstar US Momentum (Unh) -2.33% VDU FTSE Developed ex North-America -1.59%
XSU Russell 2000 CAD Hedged -0.99% FXM Morningstar CDN Value -2.95% VE FTSE Developed Europe -1.39%
XIN MSCI EAFE CAD Hedged 0.23% WXM Morningstar CDN Momentum -2.67% VA FTSE Developed Asia Pacific -1.81%
XEH MSCI Europe IMI CAD H 0.12% VXM/b Morningstar Intl Value (Unh) -1.99% VEE FTSE Emerging Mkts -2.44%
XEC MSCI EM IMI -2.69% ZXM/b Morningstar Intl Momentum (Unh) -2.00% HAZ Active Global Dividends -1.62%
XMM MSCI Min Vol Emerging -2.31% RWE MSCI Europe Low Risk Weighted (H) 0.45% HHF Morningstar Hedge Fund Index -0.58%
CWO RAFI Broad Emerging -3.16% HMF Auspice Managed Futures -1.72%
CJP RAFI Fundam Japan CAD H -0.28% ZDJ Dow Jones CAD Hedged 0.60% HAC Seasonal Rotation -0.11%
CDZ CDN Div Aristocrats -0.58% ZEQ MSCI Europe High Quality CAD H 0.79% HPR Active Preferred Shares 2.25%
week of: June 12-16, 2017 OVERALL Source: ETFinsight/Bloomberg

Respectively through available “FACTORS” (Smart or Strategic Beta) ETFs:

ticker name change ticker name change
RAFI: Value: Yield:
CRQ RAFI CDN Fundamental -2.18% VXM/b Morningstar Intl Value (Unh) -1.99% CDZ iShares S&P/TSX Canadian Dividend Aristocrats Index ETF -0.58%
CLU RAFI US Fund 1000 CAD H -0.03% XXM/b Morningstar US Value (Unh) -2.40% XHU iShares US High Dividend Equity Index ETF -0.98%
CJP RAFI Fundam Japan CAD H -0.28% FXM Morningstar CDN Value -2.95% VGG Vanguard US Dividend Appreciation Index ETF -1.72%
CWO RAFI Broad Emerging -3.16% XCV iShares Canadian Value Index ETF -1.73% CUD iShares US Dividend Growers Index ETF CAD-Hedged 0.65%
PXG RAFI Global Fundamental -2.36% VVL Vanguard Global Value Factor Etf -2.13%
PZC RAFI CDN Small-Mid Fundam 0.40% Momentum:
YXM/b Morningstar US Momentum (Unh) -2.33%
Min Vol: ZXM/b Morningstar Intl Momentum (Unh) -2.00%
VVO Vanguard Global Minimum Volatility Etf 0.52% WXM Morningstar CDN Momentum -2.67% Multi-Factors:
XMW MSCI Min Vol World -1.29% VMO Vanguard Global Momentum Factor Etf -2.75% XFC iShares Edge MSCI Multifactor Canada Index ETF -1.56%
XMI MSCI Min Vol EAFE -1.09% Liquidity: XFS iShares Edge MSCI Multifactor USA Index ETF -1.60%
XMM MSCI Min Vol Emerging -2.31% VLQ Vanguard Global Liquidity Factor Etf -1.11% XFI iShares Edge MSCI Multifactor EAFE Index ETF -0.88%
XMU MSCI Min Vol US -1.09% Quality: Low Risk Weighted:
XMV MSCI Min Vol Canada -0.72% ZEQ BMO MSCI Europe High Quality Hedged To CAD Index ETF 0.79% RWE First Asset MSCI Europe Low Risk Weighted ETF 0.45%
week of: June 12-16, 2017 FACTORS / SMART BETA / STRATEGIC BETA Source: ETFinsight/Bloomberg

Check out the above table: More Factors, including Multi Factors, as well as Individual Factors on a Global basis, with more individual ETF solutions presented.

As well as the table below – which captures the latest as far as weekly performance for ETFs managed by Strategists, respectively wrapping several ETFs in one to solve for Conservative, Balanced, or Growth objectives:

ticker name change ticker name change ticker name change
HGM Horizons Managed Global Opportunities ETF -1.64%
EXGG Excel Global Growth Asset Allocation Etf -1.75% HAC Horizons Seasonal Rotation ETF -0.11%
EXGB Excel Global Balanced Asset Allocation Etf -1.67% HRA Horizons Global Risk Parity ETF -0.89%
HHF Horizons Morningstar Hedge Fund Index ETF -0.58%
DWG PowerShares DWA Global Momentum Index ETF -3.44%
HMA Horizons Managed Multi-Asset Momentum ETF -1.89%
XTR iShares Diversified Monthly Income ETF 0.09% XGR iShares Growth Core Portfolio Builder Fund -0.94%
FIE iShares Canadian Financial Monthly Income ETF 0.28% XCR iShares Conservative Core Portfolio Builder Fund -1.08%
ZMI BMO Monthly Income ETF -0.78% XGC iShares Global Completion Portfolio Builder Fund -0.35%
CBD iShares Balanced Income CorePortfolio Index ETF -0.23% FUT First Asset US Tactical Sector Allocation Index ETF 0.23%
ETP First Trust Global Risk Managed Income Index ETF -0.05% PRP Purpose Conservative Income Fund 0.24%
CBN iShares Balanced Growth CorePortfolio Index ETF -1.13%
XAL iShares Alternatives Completion Portfolio Builder Fund -0.69%
week of: June 12-16, 2017 ETF Strategists & ETFs of ETFs Source: ETFinsight/Bloomberg

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Weekly Volumes for the week of June 12-16, 2017:

weekly volume data:
Total Volume non-leveraged $5,848,216,774
top 10 Volume non leveraged $3,008,496,690
Total Volume leveraged $1,882,063,216
top 5 Volume leveraged $1,235,081,850
Total Volumes overall: $7,730,279,990
Top 10 + Top 5: $4,243,578,540
top 10 non leveraged % of total nl: 51.4%
top 5 leveraged % of total leveraged 65.6%
Top 10 + Top 5 as % of total traded: 54.9%

 

iShares – Koesterich: What is behind the tech sell-off => click HERE! 

and a look at which Factors to favour going forward => Kate Moore =>The factors to focus on Now

and finally – the Core strengthened with the addition of Quality Dividend ETFs => click HERE!

Vanguard – The Next Steps for US FED Policy => Click HERE!

First Asset – Cambridge Core Canadian – OUT … Global Dividends … IN => Click HERE!

Horizons – One of those weeks when Inverse (leveraged Bear) proved timely if you were correctly anticipating the weakness in Energy and Golds in particular (+7.96%; +8.88%). Perhaps the only surprise in the context of this weakness, is the fact that Volatility would have lost you money (-5.21%)…

ETFinsight –  The Core … don’t Overlook the Core

Top and Bottom performing ETFs for the week of June 12-16, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of June 12-16, 2017
RPF CN Equity RBC Canadian Preferred Share ETF 2.92% $23.10 486,922 $11,244,177
HFP CN Equity Horizons Active Floating Rate Preferred Share ETF 2.80% $9.28 1,160,822 $10,768,177
DXP CN Equity Dynamic Ishares Active Preferred Shares Etf 2.69% $21.22 1,075,427 $22,721,235
ZPR CN Equity BMO Laddered Preferred Share Index ETF 2.62% $11.26 14,970,220 $168,715,610
RPS CN Equity Redwood Canadian Preferred Share ETF 2.42% $24.79 11,024 $273,254
HPR CN Equity Horizons Active Preferred Share ETF 2.25% $9.24 6,866,007 $63,141,337
PPS CN Equity PowerShares Canadian Preferred Share Index ETF 2.22% $16.04 313,512 $5,045,939
CPD CN Equity iShares S&P/TSX Canadian Preferred Share Index ETF 2.12% $13.91 3,907,831 $54,402,789
PR CN Equity Lysander-Slater Preferred Share ActivETF 2.03% $10.48 125,821 $1,318,392
UHD/F CN Equity PowerShares S&P 500 High Dividend Low Volatility Index ETF 1.27% $19.89 12,762 $254,127
Bottom Performers
ZGD CN Equity BMO S&P/TSX Equal Weight Global Gold Index ETF -4.65% $9.89 215,554 $2,105,421
XMA CN Equity iShares S&P/TSX Capped Materials Index ETF -5.00% $12.88 214,884 $2,760,054
OXF CN Equity First Asset Can-Energy Covered Call ETF -5.10% $9.59 35,474 $337,982
MNS CN Equity Royal Canadian Mint – Canadian Silver Reserves -5.47% $13.43 132,327 $1,819,149
XGD CN Equity iShares S&P/TSX Global Gold Index ETF -5.49% $12.74 10,619,802 $135,739,710
ZMT CN Equity BMO S&P/TSX Equal Weight Global Base Metals Hedged to CAD Index ETF -6.06% $9.46 88,474 $841,650
HEP CN Equity Horizons Enhanced Income Gold Producers ETF -6.24% $25.38 94,173 $2,398,638
ZJO CN Equity BMO Junior Oil Index ETF -6.31% $12.67 490,720 $6,213,997
MXF CN Equity First Asset Can-Materials Covered Call ETF -6.61% $14.64 16,230 $238,594
XBM CN Equity iShares S&P/TSX Global Base Metals Index ETF -8.20% $11.01 103,546 $1,147,059

Top Performing ETFs – Can you spell Preferreds? Is it the prospect of rising rates in Canada as well? Preferreds dominated the list of gainers, all the while US Banks ETFs which had done well heading into last week’s FOMC meeting gave back some ground as the announcement confirmed what had been widely anticipated. Sell the News, as it were …

Bottom Performing ETFs – Is this a rethink as far as the whole synchronized Global Growth story? Metals got hit hard last week, as did Golds …

Last week’s Sector Performance:

Lopsided to the downside, mostly, with the exception of Healthcare, Utes, Industrials, and Cons. Discretionary – but with sectors being hit sustaining significantly more damage in % terms than those managing to swim against the flow …

weekly sector performance to June 16, 2017

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