Home » Blogs » Michael J Bommarito II's blog

ETF Market Summary: Week Ending September 21st, 2007

Posted September 22nd, 2007 by Michael J Bomma...

    Not since the week ending August 24th just one month ago has the overall market ended up.  Granted, the average up category return was 3.3% this week, in contrast to the prior occasion's 4.5% average.  Though the following week brought another dramatic increase in volatility, nearly all categories have since then risen, with the exception of transports, likely due to dollar-related energy costs, and Japan, similarly due to dollar-related exporters.

    As far as top performers go, BRIC really brought it home this week, as is quite apparent on both the category- and fund-specific level.  Dollar-weighted China performance was 8.1%, with the Morgan Stanley CEF hitting 10% and the PowerShares ETF hitting 9%.  Latin America, Emerging Market, and Russia were close behind with nearly 7%, 6%, and 6% respectively. 

    The real story this week though has been inflation, and that is unfortuntately similarly apparent in these charts.  Though dollar-weighted performance puts energy, precious metals, and commodities at 5%, 4%, and 4% respectively, 6 of the top 10 best performing ETFs this week were one of these.  Given that all of the 10 worst performing CEFs are longer maturity fixed-income, it seems that these inflation concerns are causing many to dump longer horizon yield assets on real inflation-adjusted income concerns.

Dollar-Weighted Category Summary

Category Day Week Month YTD Day $ % RSI5 ΔRSI5 SPY R
Short -1.1% -5.1% -9.1% -2.4% 8.8% 22.5 -1.1 -97.4%
Transports 0.7% 0.7% -0.4% 4.2% 0.2% 54.1 4.4 95.3%
Call/Write 0.2% 0.9% 0.3% -0.7% 0.0% 48.4 7.6 93.5%
Consumer Goods & Services 0.1% 1.1% 2.7% 0.0% 0.9% 70.6 1.2 91.0%
Currency -0.1% 1.2% 2.5% 1.0% 0.8% 67.8 3.2 31.6%
Retail 0.0% 1.2% 3.6% 0.7% 3.4% 59.4 -6.2 96.6%
Japan 0.1% 1.3% -0.8% -0.4% 1.9% 63.3 1.4 49.5%
Healthcare & Biotech 0.7% 1.9% 5.4% 0.5% 0.9% 72.4 9.5 91.4%
Mid Cap 0.0% 2.1% 3.5% 0.4% 7.0% 74.7 0.2 94.0%
Utilities & Infrastructure 0.2% 2.3% 3.2% 0.7% 1.4% 67.7 -2.5 77.4%
Dividend 0.2% 2.6% 2.2% 0.2% 0.2% 67.7 0.8 0.88
Large Cap 0.3% 2.8% 4.8% 0.5% 9.2% 79.8 2.3 98.4%
Convertible 1.2% 3.5% 2.1% -0.9% 0.1% 66.8 7.0 70.3%
Real Estate 0.1% 3.6% 3.7% -0.4% 2.1% 69.6 3.3 74.5%
Small Cap 0.2% 3.7% 3.0% 0.1% 31.9% 75.3 2.7 86.6%
Asia 0.8% 3.8% 9.6% 2.5% 0.1% 77 0.1 84.5%
Europe 0.6% 3.9% 6.3% 0.5% 1.1% 78.4 9.7 87.8%
Commodities & Resources -0.5% 4.0% 15.7% 2.5% 1.4% 88.7 2.3 33.7%
Precious Metals -0.4% 4.2% 12.8% 3.1% 5.7% 89.2 -3.9 -14.4%
Energy 0.6% 4.7% 11.8% 2.0% 5.7% 72.6 4.7 71.4%
Russia 0.9% 5.4% 9.7% -5.9% 0.1% 90 4.3 88.8%
Emerging Markets 1.4% 5.7% 13.3% 2.0% 9.3% 72.7 5.3 85.3%
Latin & South America 1.7% 6.6% 16.0% 4.2% 4.1% 72.6 3.6 85.3%
China 2.9% 8.1% 22.6% 6.7% 3.9% 77.8 1.0 88.3%

Top CEF Week Advances and Declines

Symbol Name Return
Top Declines    
EGX Engex Inc. -11.6%
BZM BlackRock Maryland Municipal Bond Trust -6.5%
MZA BlackRock MuniYield Arizona Fund Inc. -5.5%
NGB Nuveen Virginia Dividend Advantage Municipal Fund -5.4%
XAA American Municipal Income Portfolio -5.0%
NXJ Nuveen New Jersey Dividend Advantage Municipal Fund -5.0%
NCO Nuveen California Municipal Market Opportunity Fund -4.6%
RNY BlackRock New York Investment Quality Muni Trust -4.1%
NKL Nuveen Insured California Dividend Advantage Municipal Fund -3.9%
NRL Neuberger Berman Real Estate Income Fund -3.9%
Top Advances  
LDF The Latin America Discovery Fund 6.4%
IAF Aberdeen Australia Equity Fund 6.5%
MVC MVC Capital 6.6%
CUBA Herzfeld Caribbean Basin Fund 6.9%
ASA ASA Limited 7.3%
IF Indonesia Fund 7.7%
CRF Cornerstone Total Return Fund 7.9%
FXX Foxby Corp 8.3%
TF Thai Capital Fund 9.3%
CAF Morgan Stanley China A Share Fund 10.4%

Top ETF Week Advances and Declines

Symbol Name Return
Top Declines    
SMN ProShares UltraShort Basic Materials -11.9%
SJH ProShares UltraShort Russell2000 Value -8.5%
DUG ProShares UltraShort Oil & Gas -8.5%
SKK ProShares UltraShort Russell2000 Growth -8.2%
SSG ProShares UltraShort Semiconductors -7.9%
TWM ProShares UltraShort Russell2000 -7.7%
SDD ProShares UltraShort SmallCap600 -6.9%
SRS ProShares UltraShort Real Estate -6.5%
SJF ProShares UltraShort Russell1000 Value -5.8%
SDK ProShares UltraShort Russell MidCap Growth -5.5%
Top Advances  
GDX Market Vectors TR Gold Miners 7.6%
PBW PowerShares WilderHill Clean Energy Portfolio 7.6%
MXI iShares S&P Global Materials Sector Index Fund 7.6%
FXI iShares FTSE/Xinhua China 25 Index Fund 7.7%
EWZ iShares MSCI Brazil Index Fund 7.8%
UKK ProShares Ultra Russell2000 Growth 8.3%
DIG ProShares Ultra Oil & Gas 9.0%
SLX Market Vectors Steel Index ETF Fund 9.1%
PGJ PowerShares Golden Dragon Halter USX China Portfolio 9.4%
UYM ProShares Ultra Basic Materials 10.5%