ETF Market Summary: Week Ending August 24th, 2007
In polar contrast to last week's summary, only the shorts were down this week.
Overall, the average week category return was 4%. Of the categories that were up, the average was 4.5%, with the only down category, shorts, seeing a 5.7% drop. The week was led by ex-US, specifically China, Latin America, and Asia overall. Following these were infrastructure, call/write, and convertible funds. Those at the bottom were biotech, small cap, and currency funds.
Now for the month, 14 of 26 categories are up. Of the up categories, the average return is 2.6%, with the other 12 down categories seeing an average of 1.5% down. The month has been led by China, utilities, and real estate, with the downside fronted by infrastructure, short, Russia, and transports.
| Category | Day | Week | Month | YTD | Week Correlation to SPY |
| Short | -2.62% | -5.73% | -3.25% | -1.63% | -79.88% |
| Biotech | 0.58% | 1.32% | 1.05% | -0.03% | 59.93% |
| Small Cap | 1.33% | 1.58% | 3.90% | 0.07% | 73.37% |
| Dividend | 0.79% | 1.65% | 3.44% | 0.10% | 83.81% |
| Currency | 0.99% | 2.14% | -0.48% | 0.68% | 37.09% |
| Russia | 2.46% | 2.25% | -2.70% | -8.07% | 91.00% |
| Commodities & Resources | 1.45% | 2.34% | -0.44% | 0.39% | 67.21% |
| Large Cap | 1.22% | 2.54% | 1.47% | 0.31% | 85.76% |
| Healthcare | 0.63% | 2.56% | 2.94% | 0.46% | 64.38% |
| Energy | 2.12% | 2.63% | 1.02% | 1.35% | 51.18% |
| Utilities | 0.62% | 2.69% | 5.37% | 0.60% | 41.67% |
| Japan | 0.50% | 2.70% | -2.06% | -0.23% | 47.26% |
| Real Estate | -0.45% | 2.92% | 5.06% | -0.48% | -27.96% |
| Retail | 1.52% | 2.92% | -0.59% | -0.05% | 78.14% |
| Transports | 1.28% | 3.16% | -2.46% | 5.89% | 65.22% |
| Mid Cap | 1.56% | 3.19% | 1.43% | 0.29% | 83.94% |
| Consumer Goods & Services | 1.60% | 3.53% | 0.74% | -0.04% | 66.52% |
| Europe | 2.07% | 4.16% | 1.61% | 0.30% | 84.04% |
| Convertible | 0.61% | 4.52% | -0.58% | -1.01% | 23.07% |
| MSCI | 1.74% | 4.88% | 0.80% | 6.46% | 91.01% |
| Call/Write | 0.11% | 6.55% | -0.68% | -0.53% | 1.97% |
| Emerging Markets | 2.39% | 7.18% | -0.05% | 1.07% | 52.54% |
| Infrastructure | 1.03% | 8.24% | -3.93% | 2.37% | 36.93% |
| Asia | 1.99% | 9.42% | 0.62% | 1.28% | 33.47% |
| Latin America | 2.95% | 9.86% | -1.14% | 7.30% | 89.03% |
| China | 4.03% | 15.22% | 7.15% | 3.81% | 86.25% |
- Michael J Bommarito II's blog
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