ETF Market Summary: Week of May 14th to Friday 18th 2007
Dollar-Weighted ETF/CEF Category Return
Another bad day for real estate, which is down nearly 6% over the last week with nearly one billion traded on its ETFs. China and Japan saw jitters today as well, likely due to the Yuan band-widening that everyone has speculated over. Though little reaction was seen on the Asian markets Friday, look to the Nikkei's open on Monday for a better idea of what the following reaction will be.
To the upside were infrastructure, energy, Latin America, and Europe. I expect that dollar flow to Latin America and Europe was driven by continuing stable news, as well as flow out of Japan and China and into other growing foreign markets. Note as well that retail rebounded a percentage point, ending the week only down 1% despite the April numbers that caused the earlier sell-off.
In my opinion, most worrying is the divergence between the small- and large-caps over the week, as the gap now stands at approximately 2% on the week and month.
| Sector | Day | Week | Month | YTD | Dollar Volume (Millions) | Week Correlation to SPY |
| Short | -1.55% | 0.08% | -4.60% | -1.49% | 1115 | -58.86% |
| Real Estate | -0.97% | -5.75% | -6.48% | -0.11% | 806 | -10.60% |
| China | -0.60% | -0.10% | 3.67% | -0.25% | 236 | 47.24% |
| Japan | -0.31% | -2.10% | -2.72% | 0.02% | 198 | 56.26% |
| Convertible | -0.16% | -0.64% | 0.22% | 0.26% | 15 | 46.05% |
| Call/Write | -0.08% | -0.58% | -1.02% | 1.35% | 4 | 21.11% |
| Transports | -0.06% | 1.14% | 0.05% | 12.18% | 47 | 57.80% |
| Biotech | 0.13% | -0.92% | -2.29% | 0.30% | 133 | 82.57% |
| Asia | 0.13% | -0.56% | 0.65% | 1.25% | 64 | 27.01% |
| Currency | 0.27% | 0.15% | -0.18% | 0.45% | 20 | -14.15% |
| Healthcare | 0.42% | 0.88% | 1.02% | 1.04% | 34 | 67.25% |
| Dividend | 0.50% | 0.79% | 1.72% | 0.74% | 40 | 63.40% |
| Emerging Markets | 0.52% | 0.75% | 3.01% | 0.78% | 734 | 59.91% |
| Utilities | 0.52% | 1.37% | 3.01% | 1.11% | 167 | 48.57% |
| Large Cap | 0.62% | 1.22% | 2.45% | 0.69% | 25 | 83.30% |
| MSCI | 0.69% | 1.20% | 2.82% | 0.47% | 2241 | 69.14% |
| Small Cap | 0.73% | -0.69% | 0.33% | 0.30% | 126 | 62.58% |
| Mid Cap | 0.74% | 0.47% | 1.99% | 0.50% | 694 | 68.20% |
| Consumer Goods & Services | 0.82% | 1.30% | 0.37% | 0.30% | 116 | 70.32% |
| Commodities & Resources | 0.84% | -1.38% | -4.60% | 0.45% | 311 | -0.38% |
| Russia | 1.07% | -0.10% | -5.08% | -6.84% | 11 | 81.37% |
| Retail | 1.17% | 0.88% | -1.13% | 1.52% | 634 | 58.35% |
| Europe | 1.27% | 1.17% | 1.00% | 0.63% | 97 | 73.24% |
| Latin America | 1.39% | 4.02% | 7.26% | 7.29% | 53 | 64.22% |
| Energy | 1.60% | 3.95% | 7.38% | 1.19% | 1480 | 11.78% |
| Infrastructure | 1.91% | 3.11% | 4.25% | 10.33% | 4 | 67.28% |
Top daily and weekly gainers and losers, as well as all those that traded at least 300% above regular dollar volume Friday and at least 100 million dollars over the week.
| Sector | Day | Week | Month | YTD | Dollar Volume (Millions) | Week Correlation to SPY |
| Real Estate | -0.97% | -5.75% | -6.48% | -0.11% | 806 | -10.60% |
| Japan | -0.31% | -2.10% | -2.72% | 0.02% | 198 | 56.26% |
| Commodities & Resources | 0.84% | -1.38% | -4.60% | 0.45% | 311 | -0.38% |
| Biotech | 0.13% | -0.92% | -2.29% | 0.30% | 133 | 82.57% |
| Small Cap | 0.73% | -0.69% | 0.33% | 0.30% | 126 | 62.58% |
| Convertible | -0.16% | -0.64% | 0.22% | 0.26% | 15 | 46.05% |
| Call/Write | -0.08% | -0.58% | -1.02% | 1.35% | 4 | 21.11% |
| Asia | 0.13% | -0.56% | 0.65% | 1.25% | 64 | 27.01% |
| Russia | 1.07% | -0.10% | -5.08% | -6.84% | 11 | 81.37% |
| China | -0.60% | -0.10% | 3.67% | -0.25% | 236 | 47.24% |
| Short | -1.55% | 0.08% | -4.60% | -1.49% | 1115 | -58.86% |
| Currency | 0.27% | 0.15% | -0.18% | 0.45% | 20 | -14.15% |
| Mid Cap | 0.74% | 0.47% | 1.99% | 0.50% | 694 | 68.20% |
| Emerging Markets | 0.52% | 0.75% | 3.01% | 0.78% | 734 | 59.91% |
| Dividend | 0.50% | 0.79% | 1.72% | 0.74% | 40 | 63.40% |
| Healthcare | 0.42% | 0.88% | 1.02% | 1.04% | 34 | 67.25% |
| Retail | 1.17% | 0.88% | -1.13% | 1.52% | 634 | 58.35% |
| Transports | -0.06% | 1.14% | 0.05% | 12.18% | 47 | 57.80% |
| Europe | 1.27% | 1.17% | 1.00% | 0.63% | 97 | 73.24% |
| MSCI | 0.69% | 1.20% | 2.82% | 0.47% | 2241 | 69.14% |
| Large Cap | 0.62% | 1.22% | 2.45% | 0.69% | 25 | 83.30% |
| Consumer Goods & Services | 0.82% | 1.30% | 0.37% | 0.30% | 116 | 70.32% |
| Utilities | 0.52% | 1.37% | 3.01% | 1.11% | 167 | 48.57% |
| Infrastructure | 1.91% | 3.11% | 4.25% | 10.33% | 4 | 67.28% |
| Energy | 1.60% | 3.95% | 7.38% | 1.19% | 1480 | 11.78% |
| Latin America | 1.39% | 4.02% | 7.26% | 7.29% | 53 | 64.22% |
Top 10 ETF/CEF Gainers/Losers For The Day
| Symbol | Day | Week | Month | YTD | Day $ | Week $ | Month $ | Day / Avg. Week $ | MA 20 Price | MA 20 Vol | Week SPY Corr |
| Lowest | |||||||||||
| TF | -4.10% | 2.35% | 5.77% | 15.96% | 0 | 1 | 4 | 101.72% | 3.56% | 3.56% | 42.61% |
| DUG | -2.90% | -7.21% | -12.47% | NaN | 3 | 14 | 31 | 133.91% | -8.79% | -8.79% | -85.67% |
| URE | -2.84% | -11.19% | -13.70% | NaN | 0 | 1 | 4 | 201.83% | -10.76% | -10.76% | -85.39% |
| JRS | -2.64% | -6.80% | -11.93% | -13.04% | 9 | 22 | 45 | 240.44% | -8.28% | -8.28% | -92.35% |
| RAP | -2.58% | -8.06% | 1.55% | 12.13% | 1 | 2 | 12 | 244.74% | -5.01% | -5.01% | -82.00% |
| NXE | -2.55% | 0.35% | -0.07% | 6.06% | 0 | 0 | 1 | 104.18% | 0.18% | 0.18% | 34.28% |
| IIA | -2.51% | -6.01% | -5.76% | -9.37% | 1 | 5 | 18 | 162.25% | -4.71% | -4.71% | -82.09% |
| DCR | -2.50% | -6.19% | -8.97% | -20.08% | 0 | 1 | 6 | 174.70% | -5.60% | -5.60% | -86.17% |
| SRQ | -2.30% | -6.36% | -5.61% | 1.71% | 2 | 8 | 21 | 191.45% | -5.52% | -5.52% | -86.91% |
| Highest | |||||||||||
| UWM | 2.19% | -1.59% | -1.67% | NaN | 6 | 29 | 111 | 127.37% | -0.79% | -0.79% | 12.97% |
| IIH | 2.20% | -0.20% | -4.66% | -3.58% | 1 | 6 | 18 | 107.05% | 0.35% | 0.35% | 42.45% |
| MFD | 2.41% | 6.42% | 11.29% | 22.79% | 2 | 9 | 19 | 138.13% | 7.12% | 7.12% | 84.32% |
| MVC | 2.54% | -0.59% | 10.66% | 39.18% | 2 | 13 | 64 | 100.97% | 3.59% | 3.59% | 14.31% |
| TBH | 2.60% | 7.29% | 6.40% | 27.81% | 1 | 4 | 16 | 127.77% | 6.16% | 6.16% | 91.88% |
| RRE | 2.63% | -0.59% | -2.16% | 1.02% | 12 | 51 | 96 | 145.20% | -1.76% | -1.76% | -29.63% |
| UGE | 2.65% | 2.65% | 1.62% | NaN | 0 | 0 | 0 | 303.92% | 0.56% | 0.56% | 84.97% |
| FDN | 2.68% | 1.04% | 5.55% | 10.30% | 0 | 3 | 9 | 56.64% | 2.49% | 2.49% | 67.33% |
| DIG | 3.12% | 7.60% | 13.90% | NaN | 4 | 11 | 28 | 190.91% | 9.31% | 9.31% | 87.82% |
| SCD | 3.89% | 3.26% | 4.58% | 8.43% | 8 | 14 | 39 | 321.79% | 3.62% | 3.62% | 79.53% |
Top 10 ETF/CEF Gainers/Losers For The Week
The obvious winners this week were Latin American and Energy, by and large. TBH and EWZ are Brazil-specific, MXE is a Mexico fund, and LDF is a Latin America Discovery fund. IEZ, PRFE, and DIG are all likewise oil and gas holders.
| Symbol | Day | Week | Month | YTD | Day $ | Week $ | Month $ | Day / Avg. Week $ | MA 20 Price | MA 20 Vol | Week SPY Corr |
| Lowest | |||||||||||
| URE | -2.84% | -11.19% | -13.70% | NaN | 0 | 1 | 4 | 201.83% | -10.76% | -10.76% | -85.39% |
| JOF | -1.52% | -9.24% | -10.79% | -18.22% | 2 | 13 | 31 | 113.17% | -8.25% | -8.25% | -77.01% |
| RAP | -2.58% | -8.06% | 1.55% | 12.13% | 1 | 2 | 12 | 244.74% | -5.01% | -5.01% | -82.00% |
| DUG | -2.90% | -7.21% | -12.47% | NaN | 3 | 14 | 31 | 133.91% | -8.79% | -8.79% | -85.67% |
| RFI | -1.16% | -7.16% | -4.79% | -6.37% | 1 | 3 | 7 | 112.56% | -4.77% | -4.77% | -72.26% |
| RPF | -1.83% | -7.02% | -9.57% | -11.65% | 6 | 21 | 47 | 176.29% | -7.13% | -7.13% | -86.85% |
| RLF | -1.53% | -6.90% | -9.20% | -13.72% | 4 | 12 | 29 | 183.71% | -6.82% | -6.82% | -87.45% |
| JRS | -2.64% | -6.80% | -11.93% | -13.04% | 9 | 22 | 45 | 240.44% | -8.28% | -8.28% | -92.35% |
| ICF | -1.25% | -6.56% | -8.33% | -4.66% | 57 | 285 | 725 | 121.01% | -6.37% | -6.37% | -83.93% |
| SRQ | -2.30% | -6.36% | -5.61% | 1.71% | 2 | 8 | 21 | 191.45% | -5.52% | -5.52% | -86.91% |
| Highest | |||||||||||
| IEZ | 1.13% | 4.68% | 10.44% | 28.70% | 3 | 11 | 40 | 192.60% | 5.85% | 5.85% | 84.31% |
| EWZ | 1.16% | 4.92% | 8.13% | 25.10% | 451 | 3058 | 8540 | 88.46% | 6.59% | 6.59% | 89.45% |
| PRFE | 1.12% | 5.12% | 6.49% | 20.58% | 0 | 1 | 4 | 51.79% | 4.41% | 4.41% | 72.38% |
| TTF | 2.15% | 5.41% | 6.02% | 2.15% | 2 | 6 | 23 | 230.21% | 5.91% | 5.91% | 83.69% |
| LDF | 0.89% | 5.60% | 7.60% | 12.19% | 1 | 7 | 20 | 52.72% | 6.30% | 6.30% | 87.85% |
| MXE | -0.22% | 6.37% | 5.05% | 37.95% | 0 | 7 | 34 | 37.73% | -0.25% | -0.25% | 64.28% |
| MFD | 2.41% | 6.42% | 11.29% | 22.79% | 2 | 9 | 19 | 138.13% | 7.12% | 7.12% | 84.32% |
| TBH | 2.60% |