Moron (?) in Chief? (TWTW – Oct 2-6, 2017)

Moron (?) in Chief? As the Donald’s administration slaps on yet another duty on Bombardier C Series aircraft – sending troubling signals in the direction of NAFTA negotiators – the Commander in Chief’s Commerce Secretary defended himself last week against rumors he’d use the M word to describe the current occupant of the White House …

Perhaps it would be time for everyone to remind “the boss” that everyone post 2008/2009 Global Financial Crisis agreed NOT to pursue the “beggar thy neighbour” policies that ultimately helped pave the road toward WW2 … And isn’t it just possible that all this MAGA stuff in the end is just Donald’s way of winning – to the detriment of all others, friends and foes, perhaps just as he is in the habit of doing in his business dealings with anyone he can bully?

Recent Developments:

  • Catalonia – is continuing to give Spain headaches … How will it end?
  • S&P | Dow Jones – SPIVA Canada report => Latest update to June 30, 2017 => Click HERE!
  • Federal Reserve – Lots of ink flowing in recent days in relation to who Janet Yellen’s successor at the FED will be. One apparently markets would not like very much =>Stanford Economist and Taylor curve creator John Taylor … read more => Click HERE! 
  • UK Prime Minister Theresa May – is facing demands she resigns …

 

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 0.68% PXG RAFI Global Fundamental 0.86% VCN FTSE Canada All Cap Index ETF 0.66%
XIC S&P/TSX Capped Composite 0.61% PXS RAFI US Fundamental Index 1.33% VCE FTSE Canada Index ETF 0.48%
CRQ RAFI CDN Fundamental 0.26% QQC/F NASDAQ 100 CAD Hedged 1.39% VUN CRSP US Total Market Index Unhedged 1.80%
XSP S&P 500 CAD Hedged 1.27% PZC RAFI CDN Small-Mid Fundam 2.21% VSP S&P 500 CAD Hedged 1.26%
XUS S&P500 1.75% VXC FTSE All-World Ex Canada Index ETF 1.34%
XMU MSCI Min Vol US 1.43% XXM/b Morningstar US Value (Unh) 1.90% VEF FTSE Developed ex North-Am CAD H 0.77%
CLU RAFI US Fund 1000 CAD H 0.98% YXM/b Morningstar US Momentum (Unh) 2.00% VDU FTSE Developed ex North-America 0.44%
XSU Russell 2000 CAD Hedged 1.23% FXM Morningstar CDN Value 2.01% VE FTSE Developed Europe 0.38%
XIN MSCI EAFE CAD Hedged 0.85% WXM Morningstar CDN Momentum 0.70% VA FTSE Developed Asia Pacific 0.87%
XEH MSCI Europe IMI CAD H 0.89% VXM/b Morningstar Intl Value (Unh) 0.74% VEE FTSE Emerging Mkts 2.26%
XEC MSCI EM IMI 2.28% ZXM/b Morningstar Intl Momentum (Unh) 0.45% HAZ Active Global Dividends 1.15%
XMM MSCI Min Vol Emerging 1.29% RWE MSCI Europe Low Risk Weighted (H) 1.21% HHF Morningstar Hedge Fund Index 0.79%
CWO RAFI Broad Emerging 1.71% HMF Auspice Managed Futures 0.73%
CJP RAFI Fundam Japan CAD H 0.59% ZDJ Dow Jones CAD Hedged 1.76% HAC Seasonal Rotation -0.16%
CDZ CDN Div Aristocrats 0.69% ZEQ MSCI Europe High Quality CAD H 0.92% HPR Active Preferred Shares 1.16%
week of: Oct 2-6, 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 0.26% VXM/b Morningstar Intl Value (Unh) 0.74% CDZ iShares S&P/TSX Canadian Dividend Aristocrats Index ETF 0.69%
CLU RAFI US Fund 1000 CAD H 0.98% XXM/b Morningstar US Value (Unh) 1.90% XHU iShares US High Dividend Equity Index ETF 1.00%
CJP RAFI Fundam Japan CAD H 0.59% FXM Morningstar CDN Value 2.01% VGG Vanguard US Dividend Appreciation Index ETF 1.41%
CWO RAFI Broad Emerging 1.71% XCV iShares Canadian Value Index ETF 0.62% CUD iShares US Dividend Growers Index ETF CAD-Hedged 0.92%
PXG RAFI Global Fundamental 0.86% VVL Vanguard Global Value Factor Etf 1.24%
PZC RAFI CDN Small-Mid Fundam 2.21% Momentum:
YXM/b Morningstar US Momentum (Unh) 2.00%
Min Vol: ZXM/b Morningstar Intl Momentum (Unh) 0.45%
VVO Vanguard Global Minimum Volatility Etf 0.68% WXM Morningstar CDN Momentum 0.70% Multi-Factors:
XMW MSCI Min Vol World 0.88% VMO Vanguard Global Momentum Factor Etf 1.52% XFC iShares Edge MSCI Multifactor Canada Index ETF 1.58%
XMI MSCI Min Vol EAFE 0.59% Liquidity: XFS iShares Edge MSCI Multifactor USA Index ETF 1.71%
XMM MSCI Min Vol Emerging 1.29% VLQ Vanguard Global Liquidity Factor Etf 1.46% XFI iShares Edge MSCI Multifactor EAFE Index ETF 0.78%
XMU MSCI Min Vol US 1.43% Quality: Low Risk Weighted:
XMV MSCI Min Vol Canada 0.38% ZEQ BMO MSCI Europe High Quality Hedged To CAD Index ETF 0.92% RWE First Asset MSCI Europe Low Risk Weighted ETF 1.21%
week of: Oct 2-6, 2017 FACTORS / SMART BETA / STRATEGIC BETA Source: ETFinsight/Bloomberg

Factors, Factors, and more Factors –  including Multi Factors, and Single Factors on a Global basis.

Active, you say? – See below, which captures weekly performance for ETFs managed by Strategists, or wraps incorporating several ETFs into one to solve for Conservative, Balanced, or Growth objectives:

ticker name change ticker name change ticker name change
HGM Horizons Managed Global Opportunities ETF 0.65%
EXGG Excel Global Growth Asset Allocation Etf 0.97% HAC Horizons Seasonal Rotation ETF -0.16%
EXGB Excel Global Balanced Asset Allocation Etf 0.79% HRA Horizons Global Risk Parity ETF 0.00%
HHF Horizons Morningstar Hedge Fund Index ETF 0.79%
DWG PowerShares DWA Global Momentum Index ETF 2.25%
HMA #N/A #N/A
XTR iShares Diversified Monthly Income ETF 0.44%
FIE iShares Canadian Financial Monthly Income ETF 1.36%
ZMI BMO Monthly Income ETF 0.31%
CBD iShares Balanced Income CorePortfolio Index ETF 0.14% FUT First Asset US Tactical Sector Allocation Index ETF 1.34%
ETP First Trust Global Risk Managed Income Index ETF 0.21% PRP Purpose Conservative Income Fund 0.44%
CBN iShares Balanced Growth CorePortfolio Index ETF 0.68%
week of: Oct 2-6, 2017 ETF Strategists & ETFs of ETFs Source: ETFinsight/Bloomberg

Brought to you by: 

iShares: Koesterich – A song of ice and fire => click HERE!

Final valuation of ETFs terminated in September => click HERE!

Vanguard: Gauging Global Growth => click HERE!

BMO ETFs: Upcoming ETF Essentials “events” => Click HERE!

Horizons ETFs: Hans Albrecht weighing in on Commodities and Potash => Click HERE!

First Asset – FSB now available in US Units => click HERE!

Other:

ETFinsight – 30th Anniversary (October 2017 Perspectives) => Click HERE! 

Weekly Volumes History to October 6, 2017:

Top and Bottom performing ETFs for the week of Oct 2-6, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of Oct 2-6, 2017
HMMJ CN Equity Horizons Marijuana Life Sciences Index ETF 9.19% $9.89 1,983,900 $19,889,129
ZMT CN Equity BMO Equal Weight Global Base Metals Hedged to CAD Index ETF 5.72% $11.78 541,180 $6,394,643
ZJG CN Equity BMO Junior Gold Index ETF 5.19% $9.24 203,488 $1,882,298
XBM CN Equity iShares S&P/TSX Global Base Metals Index ETF 4.86% $12.97 304,203 $3,987,798
XCH CN Equity iShares China Index ETF 4.53% $27.29 69,179 $1,875,668
XMA CN Equity iShares S&P/TSX Capped Materials Index ETF 3.32% $13.18 370,694 $4,902,986
MEE CN Equity Mackenzie Maximum Diversification Emerging Markets Index Etf 3.22% $23.10 27,350 $634,073
ZGD CN Equity BMO Equal Weight Global Gold Index ETF 3.19% $9.87 44,553 $440,541
MXF CN Equity First Asset Can-Materials Covered Call ETF 3.03% $14.46 19,519 $282,541
XGD CN Equity iShares S&P/TSX Global Gold Index ETF 3.02% $12.43 6,441,822 $80,001,190
Bottom Performers
XEG CN Equity iShares S&P/TSX Capped Energy Index ETF -1.99% $11.98 17,700,396 $212,236,030
HEE CN Equity Horizons Enhanced Income Energy ETF -2.01% $12.39 30,787 $382,058
ZEO CN Equity BMO Equal Weight Oil & Gas Index ETF -2.04% $10.99 2,037,298 $22,387,747
HXE CN Equity Horizons S&P/TSX Capped Energy Index ETF -2.16% $19.80 53,085 $1,042,563
HUC CN Equity Horizons Crude Oil ETF -2.35% $10.94 38,813 $424,411
ZJO CN Equity BMO Junior Oil Index ETF -2.71% $12.44 60,768 $754,534
FHB CN Equity First Asset European Bank ETF -3.00% $9.51 105,820 $1,008,514
ZJN CN Equity BMO Junior Gas Index ETF -3.01% $15.46 33,062 $510,688
HNY CN Equity Horizons Natural Gas Yield ETF -4.12% $12.31 38,149 $468,496
HUV CN Equity BetaPro S&P 500 VIX Short-Term Futures ETF -4.94% $6.68 103,568 $695,452

Top Performing ETFs – HMMJ – the Marijuana (medicinal, recreational et al) ETF – led last week’s top performers, up 9.2% on the week. Otherwise on the list, Gold and Material exposure, as well as some EM and China exposure. As to the gains in Gold last week – interesting in that lest I am mistaken, the period of seasonal strength for that exposure is now … behind us.

Bottom Performing ETFs – After a strong showing performance-wise in September, Energy pulls back somewhat. An opportunity to reload? After all, YTD (to Sept 30, 2017), Energy is still meaningfully off from where 2017 started (XEG for instance: -12.8%).

Last week’s Sector Performance:

Energy pulling back somewhat after a strong September …

Materials ahead …

sector performance week ending October 6, 2017

 

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