Systematically Insulting (TWTW – Oct 9-13, 2017)

Systematically Insulting – His (President Donald J. Trump’s) ratio of certitude to knowledge is nearing all times high: How newly minted Nobel Prize in Economics Laureate Thaler described the President – while also observing that current elevated market levels made him nervous …

Read more => Click HERE!

Latest Developments:

  • Bye Bye – Sears Canada … and the 14,000 jobs that go with it going into liquidation …
  • UK – Exercising pressure on Boeing to protect some 4,000 Bombardier jobs in Ireland
  • OPEC – (in the you have got to be kiddin’ me right now …) Urging its friends in the shale basins of North America to take this shared responsibility with all the seriousness it deserves as one of the key lessons learned from the current unique, supply-driven cycle… Talking of course about curbing production so as to prop up prices. I guess it’s what you do when you are OPEC, and when your earlier attempts at killing US shale have failed and you find shale technology to be a supply headache when you are trying to manipulate prices higher …
  • PM Justin Trudeau – for his part in discussion with US President Trump, pointing out that Military aircraft sales to Canada are at stake as well, talking about Boeing/Bombardier spat …
  • Delta Airlines – What do they have up their sleeves? Co CEO expressing confidence that his company would NOT pay the punitive damages slapped on his company’s purchase of C Series Aircraft …
  • NAFTA negotiations – By all accounts looking like a lot of arm wrestling and threats to walk away from the Donald …
  • US Banks – Better results on improving NIM, while trading in … decline …
  • Inflation – The missing ingredient for the moment … but one Central bankers are of the view is on its way, and to appear in clearer view in 2018 …

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 0.59% PXG RAFI Global Fundamental 0.63% VCN FTSE Canada All Cap Index ETF 0.50%
XIC S&P/TSX Capped Composite 0.52% PXS RAFI US Fundamental Index -0.08% VCE FTSE Canada Index ETF 0.63%
CRQ RAFI CDN Fundamental 0.52% QQC/F NASDAQ 100 CAD Hedged 0.49% VUN CRSP US Total Market Index Unhedged -0.42%
XSP S&P 500 CAD Hedged 0.15% PZC RAFI CDN Small-Mid Fundam 2.01% VSP S&P 500 CAD Hedged 0.16%
XUS S&P500 -0.30% VXC FTSE All-World Ex Canada Index ETF 0.35%
XMU MSCI Min Vol US 0.02% XXM/b Morningstar US Value (Unh) -0.84% VEF FTSE Developed ex North-Am CAD H 0.93%
CLU RAFI US Fund 1000 CAD H 0.09% YXM/b Morningstar US Momentum (Unh) 0.12% VDU FTSE Developed ex North-America 1.35%
XSU Russell 2000 CAD Hedged -0.47% FXM Morningstar CDN Value 0.26% VE FTSE Developed Europe 0.52%
XIN MSCI EAFE CAD Hedged 0.81% WXM Morningstar CDN Momentum 0.51% VA FTSE Developed Asia Pacific 2.22%
XEH MSCI Europe IMI CAD H 0.20% VXM/b Morningstar Intl Value (Unh) 1.25% VEE FTSE Emerging Mkts 1.37%
XEC MSCI EM IMI 1.56% ZXM/b Morningstar Intl Momentum (Unh) 1.82% HAZ Active Global Dividends 0.59%
XMM MSCI Min Vol Emerging 1.46% RWE MSCI Europe Low Risk Weighted (H) 0.88% HHF Morningstar Hedge Fund Index 0.92%
CWO RAFI Broad Emerging 1.99% HMF Auspice Managed Futures 0.49%
CJP RAFI Fundam Japan CAD H 1.68% ZDJ Dow Jones CAD Hedged 0.49% HAC Seasonal Rotation 0.05%
CDZ CDN Div Aristocrats 0.34% ZEQ MSCI Europe High Quality CAD H 0.93% HPR Active Preferred Shares 0.52%
week of: Oct 9-13, 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 0.52% VXM/b Morningstar Intl Value (Unh) 1.25% CDZ iShares S&P/TSX Canadian Dividend Aristocrats Index ETF 0.34%
CLU RAFI US Fund 1000 CAD H 0.09% XXM/b Morningstar US Value (Unh) -0.84% XHU iShares US High Dividend Equity Index ETF -0.22%
CJP RAFI Fundam Japan CAD H 1.68% FXM Morningstar CDN Value 0.26% VGG Vanguard US Dividend Appreciation Index ETF -0.02%
CWO RAFI Broad Emerging 1.99% XCV iShares Canadian Value Index ETF 0.39% CUD iShares US Dividend Growers Index ETF CAD-Hedged 0.71%
PXG RAFI Global Fundamental 0.63% VVL Vanguard Global Value Factor Etf -0.46%
PZC RAFI CDN Small-Mid Fundam 2.01% Momentum:
YXM/b Morningstar US Momentum (Unh) 0.12%
Min Vol: ZXM/b Morningstar Intl Momentum (Unh) 1.82%
VVO Vanguard Global Minimum Volatility Etf 0.81% WXM Morningstar CDN Momentum 0.51% Multi-Factors:
XMW MSCI Min Vol World 0.93% VMO Vanguard Global Momentum Factor Etf 0.52% XFC iShares Edge MSCI Multifactor Canada Index ETF 0.80%
XMI MSCI Min Vol EAFE 1.40% Liquidity: XFS iShares Edge MSCI Multifactor USA Index ETF -0.29%
XMM MSCI Min Vol Emerging 1.46% VLQ Vanguard Global Liquidity Factor Etf -0.06% XFI iShares Edge MSCI Multifactor EAFE Index ETF 1.25%
XMU MSCI Min Vol US 0.02% Quality: Low Risk Weighted:
XMV MSCI Min Vol Canada 0.82% ZEQ BMO MSCI Europe High Quality Hedged To CAD Index ETF 0.93% RWE First Asset MSCI Europe Low Risk Weighted ETF 0.88%
week of: Oct 9-13, 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 0.74%
EXGG #N/A #N/A HAC Horizons Seasonal Rotation ETF 0.05%
EXGB #N/A #N/A HRA Horizons Global Risk Parity ETF 1.08%
HHF Horizons Morningstar Hedge Fund Index ETF 0.92%
DWG PowerShares DWA Global Momentum Index ETF 0.58%
XTR iShares Diversified Monthly Income ETF 0.35%
FIE iShares Canadian Financial Monthly Income ETF 0.67%
ZMI BMO Monthly Income ETF 0.37%
CBD iShares Balanced Income CorePortfolio Index ETF 0.69% FUT First Asset US Tactical Sector Allocation Index ETF 0.35%
ETP First Trust Global Risk Managed Income Index ETF 0.41% PRP Purpose Conservative Income Fund 0.39%
CBN iShares Balanced Growth CorePortfolio Index ETF 0.63%
week of: Oct 9-13, 2017 ETF Strategists & ETFs of ETFs Source: ETFinsight/Bloomberg

Brought to you by: 

Providers’ News:

iShares: Koesterich – Energy and Financials – the Value within Value … 

Vanguard: A Review of alternative approaches to fixed income indexing => Click HERE!

BMO ETFs: Launching several new ETFs this  past week, including Shiller CAPE based ZEUS => Read more: Click: Greek God ZEUS began trading on the TMX

Upcoming ETF Essentials “events” => Click HERE!

Horizons ETFs: Thackray’s October Newsletter => Hold Your Nose

Forstrong = Global Thinking, Fall 2017 => Click HERE!

and more importantly – Tyler on Super Trends and Tactical Views => click HERE!

Investors’ Sentiment => Bullish Canada and EM => Click HERE!

First Asset – Momentum ahead of Value across the board (Intl / US / Canada) this past week.

Weekly Volumes History to October 13, 2017:

 

volumes week ending October 13, 2017

Top and Bottom performing ETFs for the week of Oct 9-13, 2017:

Ticker Name % Change Avg Price Weekly Volume $ Volume traded
Top Performers week of Oct 9-13, 2017
CCX CN Equity Auspice Canadian Crude Oil Index ETF 5.11% $9.30 17,768 $164,134
HNY CN Equity Horizons Natural Gas Yield ETF 3.31% $12.28 23,564 $287,863
HUZ CN Equity Horizons Silver ETF 3.08% $9.59 20,456 $195,003
XID CN Equity iShares India Index ETF 3.03% $33.38 22,415 $749,074
SVR CN Equity iShares Silver Bullion ETF 3.02% $9.45 46,936 $438,986
HUC CN Equity Horizons Crude Oil ETF 2.50% $11.00 31,366 $345,547
VA CN Equity Vanguard FTSE Developed Asia Pacific All Cap Index ETF 2.22% $32.70 88,517 $2,898,368
RTA CN Equity Redwood Tactical Asset Allocation ETF 2.21% $19.39 7,441 $144,281
CWO CN Equity iShares Emerging Markets Fundamental Index ETF 1.99% $35.99 13,758 $495,824
HUG CN Equity Horizons Gold ETF 1.96% $11.85 38,806 $460,731
Bottom Performers
FCW/B CN Equity First Asset Cambridge Global Dividend ETF -0.88% $20.32 21,943 $444,505
ZJN CN Equity BMO Junior Gas Index ETF -0.93% $15.04 18,710 $282,307
HFMU/U CN Equity Hamilton Capital US Mid-Cap Financials ETF -0.99% $17.20 105,046 $1,806,689
FHD CN Equity First Trust AlphaDEX US Consumer Discretionary Sector Index ETF -1.00% $22.93 453,520 $10,471,227
HXE CN Equity Horizons S&P/TSX Capped Energy Index ETF -1.08% $19.41 40,832 $796,363
ZUH CN Equity BMO Equal Weight US Health Care Hedged to CAD Index ETF -1.13% $48.45 146,348 $7,100,702
XEG CN Equity iShares S&P/TSX Capped Energy Index ETF -1.19% $11.74 15,176,436 $178,131,220
ZUB CN Equity BMO Equal Weight US Banks Hedged to CAD Index ETF -2.13% $27.48 456,262 $12,526,877
ZBK CN Equity BMO Equal Weight US Banks Index ETF -2.48% $24.30 242,123 $5,882,815
HUV CN Equity BetaPro S&P 500 VIX Short-Term Futures ETF -5.50% $6.37 68,492 $439,913

Top Performing ETFs – On and off with Crude, respectively Nat Gas, this past week ending on the positive side of the ledger… Beyond that, uptick in Silver and Gold, and EM showing resilience – a continued positive, as their status could be challenged by rising rates…

Bottom Performing ETFs – After strong recent performance – some weakness in US Banks, which remain, however, a favored play in terms of their potential going forward, with the prospect of further rate hikes and their implication in terms of NIM improvement …

Last week’s Sector Performance:

Energy pulling back some more as it did a week earlier, giving back a little additional after putting in a strong showing in September …

weekly performance ending October 13, 2017

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