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ETF Market Summary: Wednesday, May 16th 2007

Posted May 16th, 2007 by Michael J Bomma...

    Among today's worst losers was real estate, as the new housing data hit the market this morning.  Of the worst 10 funds on the day's performance, 4 of 10 were real estate - FIO is the iShares FTSE Industrial/Office Park REIT introduced recently, URE is the ProShares REIT, RLF is a Cohen & Steers real estate fund, and DCA is the Dividend Capital Realty fund.  

    Notable also was the drop in silver futures today, as evidenced in the fall of DBS and SLV, silver ETFs.  Commodities and natural resources on the whole were down nearly 2% by my dollar-weighted calculations above.

    On the other end, the top fund for the day was CLM, the Cornerstone Strategic Value CEF.  Though closed, in 2005, they claimed their top ten holdings included Citigroup and American Internation Group, both enjoying the latest week of earnings and purchases. 

    Following CLM were mainly Latin American (Brazil's and Mexico's MSCIs EWZ and EWW, the Latin America 40 ILF, Spain Fund SNF, Brazil Telecom ADR TBH) and other foreign funds (Thai Fund TH).  As noted above, today's best performing category was Latin America, trading at another percent-and-a-quarter to China.  Expect the Mexican MSCI fund to be highly correlated to the US markets, however, as much of the rally today was on speculation of rate drop and a soft real estate impact.

    Below you'll find both the full table of the best and worst performers, as well as a list of ETFs and CEFs that traded at least 300% above their 5-session average dollar liquidity today.

Dollar-Weighted ETF/CEF Category Return

Sector Day Week Month YTD Dollar Volume (Mil. USD) Week Correlation to SPY
Short -1.81% 0.87% -5.40% -1.42% 51 -88.98%
Commodities & Resources -1.47% -2.79% -4.43% 0.44% 39 56.34%
Real Estate -0.98% -2.98% -3.60% 0.00% 22 NaN
Currency -0.35% -0.09% -0.31% 0.44% 3 26.60%
Asia -0.01% -0.51% 0.49% 1.22% 3 78.95%
Call/Write 0.14% -1.01% -0.90% 1.32% 1 11.73%
Convertible 0.17% -0.49% 0.78% 0.30% 2 42.29%
Japan 0.20% -1.66% -1.67% 0.17% 22 89.22%
Utilities 0.27% 0.63% 3.05% 1.10% 12 67.98%
Energy 0.37% 1.35% 4.48% 0.97% 63 68.83%
Mid Cap 0.39% -0.71% 1.97% 0.46% 26 84.38%
Small Cap 0.40% -1.27% 0.80% 0.29% 3 74.34%
Europe 0.45% -0.25% 0.80% 0.53% 3 87.22%
Infrastructure 0.57% 0.91% 3.46% 9.10% 1 74.91%
Retail 0.59% -1.75% -0.88% 1.07% 132 87.16%
Dividend 0.59% 0.30% 2.04% 0.71% 4 79.57%
Consumer Goods & Services 0.63% -0.19% 0.11% 0.25% 4 71.33%
Large Cap 0.80% 0.17% 2.55% 0.64% 1 91.06%
Biotech 0.89% -2.64% -0.52% 0.40% 20 94.27%
Healthcare 1.10% -0.55% 1.84% 1.03% 11 75.20%
Russia 1.42% -1.63% -5.68% -7.37% 4 88.32%
Emerging Markets 1.46% 0.62% 3.25% 0.77% 46 64.59%
MSCI 1.71% 0.61% 3.15% 0.46% 112 91.31%
Transports 1.91% 0.10% 1.38% 12.42% 192 83.69%
China 2.07% 4.15% 4.78% -0.03% 42 85.88%
Latin America 3.28% 1.93% 7.37% 6.76% 16 94.75%

 

   Top 10 ETF/CEF Gainers/Losers

Symbol Day Week Month YTD Day $ Week $ Month $ Day / Avg. Week $ MA 20 Price MA 20 Vol Week SPY Corr
Lowest                      
FIO -2.90% -3.81% NaN NaN 0 0 NaN 82.23% NaN NaN -57.10%
CUBA -2.71% -3.91% 13.06% -19.40% 0 1 4 145.95% 2.46% 15.52% -64.24%
FMO -2.37% -1.91% 0.56% 16.26% 3 8 26 212.19% -0.24% 120.78% -25.27%
EGX -2.35% -6.11% -10.66% -6.21% 0 0 0 65.52% -6.43% 17.76% -62.89%
URE -2.24% -6.62% -9.06% NaN 0 1 3 110.34% -6.54% 9.42% -26.82%
RLF -2.15% -3.56% -6.47% -10.23% 2 7 23 161.94% -3.90% 78.83% -47.28%
HYI -2.15% -0.37% 0.00% 9.22% 1 2 5 342.31% -0.57% 322.09% -3.66%
DCA -2.13% -4.78% -1.88% -3.32% 1 3 12 202.12% -2.81% 92.21% -24.41%
DBS -2.08% -3.27% -7.52% NaN 0 1 7 195.74% -3.96% 42.23% 5.11%
SLV -2.00% -3.48% -7.35% 2.40% 98 313 1198 187.30% -3.94% 78.01% 12.09%
Highest                      
TBH 2.83% 3.44% 5.38% 24.74% 1 4 16 117.00% 4.25% 0.26% 82.07%
TF 2.83% 3.59% 4.35% 16.51% 0 1 4 86.54% 4.86% -1.58% 55.86%
BIF 2.90% -11.44% -21.83% 18.17% 3 31 98 52.11% -15.41% -34.72% -20.63%
IFN 2.95% 2.65% 1.65% -7.65% 17 100 341 103.33% 2.07% 4.21% 91.92%
EWW 3.16% 1.47% 6.39% 16.32% 393 1309 3638 180.00% 4.84% 116.76% 93.57%
EWZ 3.18% 3.07% 8.89% 23.77% 636 3191 8227 119.64% 6.39% 53.23% 90.27%
ILF 3.40% 1.96% 7.48% 20.62% 59 377 1156 94.33% 5.28% 2.25% 91.37%
SNF 3.53% 3.08% 0.00% 12.45% 0 2 9 106.16% 0.07% 2.04% 85.16%
BHH 3.92% 0.00% 0.00% -1.85% 0 1 2 131.89% 1.74% 17.14% 59.08%
CLM 4.30% -4.49% -0.91% 8.04% 2 16 34 78.62% -2.95% 37.66% -20.22%

ETFs/CEFs Trading At Least 300% Above

Their 5-Session Average Dollar Liquidity

Symbol Day Week Month YTD Day $ Week $ Month $ Day / Avg. Week $ MA 20 Price MA 20 Vol Week SPY Corr
IIH 1.63% -1.96% -6.73% -5.85% 3 7 17 302.19% -2.55% 329.97% 7.79%
GVI 0.07% 0.02% -0.24% NaN 2 3 19 306.85% -0.13% 73.89% -51.54%
PEZ 0.35% -0.21% -0.83% 6.27% 0 0 2 313.54% -0.41% 89.45% 57.35%
HYI -2.15% -0.37% 0.00% 9.22% 1 2 5 342.31% -0.57% 322.09% -3.66%
PRFQ 0.94% 0.77% 5.80% 9.31% 0 1 4 345.06% 2.84% 45.32% 96.12%
PRFH 0.89% -0.25% 2.31% 10.96% 0 0 4 353.04% 0.99% -9.73% 79.31%
IHF 1.38% 1.06% 1.62% 12.62% 12 21 119 355.30% 1.81% 115.53% 86.03%
NAZ 0.28% 0.21% -0.07% 4.37% 0 1 2 359.34% -0.36% 517.11% -0.56%
SQF 0.36% 0.50% 2.10% 2.62% 2 3 6 362.93% 1.60% 458.81% 82.37%
PTH 0.66% -0.51% 0.03% 11.95% 2 4 14 366.78% 0.07% 282.59% 59.94%
DPC 0.31% 0.85% 1.48% 13.67% 0 0 3 367.95% 1.29% 64.98% 78.43%
RYF -0.40% -0.17% 1.13% 3.42% 0 0 1 385.55% 0.61% 21.94% 29.62%
ELR 0.09% -0.04% 2.80% 8.08% 0 0 1 400.00% 1.13% -19.23% -10.69%
SCV -0.20% -1.97% NaN NaN 0 0 NaN 406.85% NaN NaN 23.84%
PRFE 0.11% 2.19% 4.59% 17.66% 1 1 4 424.50% 2.56% 316.72% 48.80%
NMB 0.00% -0.13% 2.26% 6.38% 0 0 1 433.38% 0.80% 254.04% -10.96%
RYT -0.93% -1.08% 1.64% 5.82% 0 0 0 453.51% 0.05% 540.24% -50.26%
HHN -1.23% -3.86% -7.29% NaN 0 0 0 462.07% -5.61% 375.47% -45.00%
VO 0.41% -0.77% 1.94% 10.23% 220 262 310 504.18% 0.53% 1385.28% 58.56%
PRFF 0.00% -0.40% 1.54% 2.66% 2 2 6 561.60% 0.88% 701.71% 60.53%