To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing.
All eyes were on China once again this week, after the struggling country made a surprise policy move: a historic devaluation of the nation’s currency, the yuan. Subsequently, the move sent volatility across global financial markets, spurring a harsh round of panic selling. Towards the end of the week, however, equities managed to rebound slightly.
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Risk Appetite Review
Equity markets saw modest gains this week despite enduring a steep sell-off following China’s devaluation. The S&P High Beta Fund was the only one in the red this week, shedding 0.06%.
Major Index Review
Only the Dow and S&P 500 managed to eke out small gains on the week. Emerging markets came in once again at the bottom of the barrel with a 2.20% loss. On the month, EEM and IWM continue to be the worst performers.
Foreign Equity Review
Somewhat surprisingly, only China and Japan managed to log in a positive return on the week, albeit small ones. The India ETF was the worst performer on the week, while the Brazil ETF shed 19.75% on the month.
Metals were the top winners this week, with silver leading the pack, gaining 5.15%. Oil was the worst performer on the week, after WTI traded to its six-and-a-half-year low. On the month, oil continues to be the worst performer.
The U.S. dollar lost steam this week, shedding 1.53%. The euro was this week’s top performer, gaining 2.04%. Over the trailing one-month period, emerging-market currencies continue to decline.
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Disclosure: No positions at time of writing.