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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. The weekly performance is from last Friday’s open to this week’s Thursday close. Since markets were closed on Thursday, this week the performance is measured as of Wednesday’s close price.
- U.S. markets were flat for the week.
- Most major foreign markets, including developed and emerging markets, are down for the week.
- History shows that the markets tend to outperform during Thanksgiving week. To find out more about this, please read ETFs to Play the Thanksgiving Rally.
- The Fed announcement on Monday set a hawkish tone and it’s now almost certain that interest rates will rise in December.
- Bureau of Economic Analysis released the latest GDP q/q figures this Tuesday. GDP is reported at a better than expect growth rate of 2.1% vs. the analysts’ expectations of 2%.
- Consumer confidence reported on Tuesday a worse than expected figure of 90.4, vs. the expectation of 99.3.
- The Euro is under pressure as more investors bet on the ECB rolling out more stimulus.
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Risk Appetite Review
- U.S. equity markets were fairly flat this week.
- The overall market as measured by the S&P 500 ETF (SPY ) was slightly down at a 0.06% decrease.
- The high-beta ETF (SPHB ) is in the lead, with a 0.41% gain for the week.
- The low volatility ETF (SPLV ) was the worst performer out of the bunch, with a 0.13% loss for the week.
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Major Index Review
- The Russell 2000 ETF (IWM ) is the best performer for the week and rolling month, with a 2.31% and 4% gain, respectively.
- The Emerging Markets ETF (EEM ) is the worst performer for the week, with a 1.17% loss.
Foreign Equity Review
- All major foreign tracking ETFs are down for the week, except the Russian ETF (RSX ), which is up 0.52%.
- The Russian ETF (RSX ) is also the best performer for the rolling month, with a 6.31% gain.
- The worst performer for the week is the Brazilian ETF (EWZ ), with a loss of 5.31%.
- The Indian ETF (EPI ) is still the worst performer for the rolling month, with a 5.55% loss.
Commodities Review
- Commodities are still trending down for the week, except Oil (USO ) and Agriculture (DBA ) with gains of 3.48% and 0.10%, respectively.
- All commodities are down for the rolling month.
- Copper (JJC ) is the worst performer for the week and rolling month, with a loss of 2.30% and 14.72%, respectively.
Currency Review
- The U.S. dollar (UUP ) has outperformed the other major currencies this week and for the rolling month, with gains of 0.70% and 2.97%, respectively.
- With the ECB most likely rolling out more stimulus soon, the Euro (FXE ) is the worst performer out of the bunch, with a loss of 0.86% and 4.06% for the week and month, respectively.
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Disclosure: No positions at time of writing.
