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ETF Market Summary: Monday, June 4th, 2007

Posted June 5th, 2007 by Michael J Bomma...

Dollar-Weighted ETF/CEF Category Return

    12 of 26 categories were negative to start the week, as gains in crude and gold led to to a somewhat bearish underlying attitude.  Most affected by this trend were infrastructure and transports, both having seen a 3%+ week return prior.  Note as well that despite the 5% increase in VIX from Friday's close, small cap ETFs still closed above large caps.

    To the upside on Monday was primarily energy, driven by crude prices, as well as Asia, real estate, and retail.  Though Asia funds may attempt to continue their uptrends into today after high volatility in Asian markets, retail and real estate will likely feel the heat from this morning's retailers' negative assesments and the possible bond swings resulting form Bernanke's comments today.

Sector Day Week Month YTD Day $ Week Correlation to SPY
Infrastructure -1.98% 2.01% 0.77% 8.64% 7 50.74%
Transports -0.76% 2.40% 2.30% 13.81% 18 7.92%
Short -0.66% -4.28% -3.39% -1.83% 702 -52.70%
Emerging Markets -0.44% 3.01% 3.89% 0.97% 1195 12.76%
Utilities -0.35% 0.98% -1.37% 0.89% 520 26.47%
Biotech -0.31% 1.45% -2.36% 0.71% 136 18.66%
Latin America -0.26% 5.35% 9.39% 8.98% 65 75.40%
China -0.20% 1.96% 3.69% -0.32% 312 -20.07%
Healthcare -0.17% 0.20% -0.01% 1.08% 108 -20.91%
Convertible -0.10% 0.71% -0.19% 0.30% 15 8.51%
Dividend -0.04% 1.09% 0.91% 0.74% 39 59.62%
Large Cap -0.01% 1.33% 3.07% 0.39% 1205 70.37%
Europe 0.09% 1.67% 1.78% 0.50% 358 -9.98%
Russia 0.12% 1.84% -2.30% -7.33% 11 -4.27%
Small Cap 0.12% 2.79% 2.40% 0.26% 5533 40.55%
Commodities & Resources 0.17% 3.15% -1.39% 0.66% 323 -15.61%
Consumer Goods & Services 0.22% 1.87% 2.26% 0.41% 80 36.09%
MSCI 0.27% 1.98% 1.54% 11.25% 398 14.34%
Japan 0.35% 3.16% 2.01% 0.45% 181 -31.74%
Currency 0.37% 0.94% 0.88% 0.53% 30 -29.32%
Mid Cap 0.40% 3.07% 3.49% 0.57% 624 29.55%
Call/Write 0.44% 2.96% 3.40% 2.35% 4 12.47%
Real Estate 0.64% 6.05% 0.50% 0.13% 383 53.25%
Retail 0.65% 3.75% 4.15% 2.83% 297 51.83%
Asia 0.88% 3.09% 1.88% 1.40% 55 -9.43%
Energy 1.56% 3.39% 8.19% 1.41% 1281

7.81%