|TOP ETFS – BY ALL FAs (Total Traffic) Previous Week||Ticker||TOP ETFS BY FAs w/ AUM>$1B (Total Traffic) Previous Week||Ticker||TOP INDUSTRIES BY ALL FAs (Total Traffic) Previous Week||TOP ETF CATEGORIES BY ALL FAs (Total Traffic) Previous Week|
|SPDR S&P 500 ETF||SPY||SPDR S&P 500 ETF||SPY||Biotechnology||Large Cap Growth Equities|
|Invesco QQQ||QQQ||iShares Russell 2000 ETF||IWM||Internet Content & Information||Leveraged Equities|
|ProShares Ultra VIX Short-Term Futures||UVXY||VanEck Vectors Gold Miners ETF||GDX||Software – Application||Technology Equities|
|ProShares UltraPro Short QQQ||SQQQ||Invesco QQQ||QQQ||Auto Manufacturers||Leveraged Volatility|
|iPath Series B S&P 500 VIX Short-Term Futures ETN||VXX||ProShares Ultra VIX Short-Term Futures||UVXY||Consumer Electronics||Precious Metals|
|ProShares UltraPro QQQ||TQQQ||Direxion Daily Gold Miners Bull 2X Shares||NUGT||Credit Services||All Cap Equities|
|SPDR Dow Jones Industrial Average ETF||DIA||SPDR Gold Trust||GLD||Internet Retail||Volatility|
|SPDR Gold Trust||GLD||Financial Select Sector SPDR Fund||XLF||Diagnostics & Research||Alternative Energy Equities|
|iShares Russell 2000 ETF||IWM||SPDR S&P Regional Banking ETF||KRE||Software – Infrastructure||Health & Biotech Equities|
|iShares Silver Trust||SLV||iShares MSCI Emerging Markets ETF||EEM||Semiconductors||Materials|
|VanEck Vectors Gold Miners ETF||GDX||iShares Silver Trust||SLV||Specialty Retail||Small Cap Growth Equities|
|ARK Innovation ETF||ARKK||Energy Select Sector SPDR Fund||XLE||Drug Manufacturers – Specialty & Generic||Energy Equities|
|iPath S&P 500 Dynamic VIX ETN||XVZ||Global X Lithium ETF||LIT||Medical Devices||Government Bonds|
|Technology Select Sector SPDR Fund||XLK||iShares Core S&P Mid-Cap ETF||IJH||Entertainment||Oil & Gas|
|Energy Select Sector SPDR Fund||XLE||Health Care Select Sector SPDR Fund||XLV||Aerospace & Defense||Large Cap Blend Equities|
|iShares Edge MSCI USA Momentum Factor ETF||MTUM||iShares Core MSCI International Developed Markets ETF||IDEV||Utilities – Regulated Electric||Asia Pacific Equities|
|iShares 20+ Year Treasury Bond ETF||TLT||Invesco Global Listed Private Equity ETF||PSP||Conglomerates||Consumer Discretionary Equities|
|Invesco Solar ETF||TAN||ProShares Short 20+ Year Treasury||TLT||Oil & Gas E&P||Leveraged Commodities|
|Direxion Daily Aerospace & Defense Bull 3X Shares||DFEN||Technology Select Sector SPDR Fund||XLK||Specialty Industrial Machinery||China Equities|
|SPDR S&P Biotech ETF||XBI||KraneShares CSI China Internet ETF||KWEB||Scientific & Technical Instruments||Financials Equities|
A Happy Monday to all! Markets are off to a strong start on Election Day Eve. There are a multitude of theories for the early rally, but the anticipation of election results materializing is encouraging. It is interesting to see how your peers were preparing for a busy week that includes, not only elections, but also the latest PMI sentiment data, a Fed meeting, and the release of October jobs number.
November is the month that kicks-off holiday decorations and music, and when ‘Black Friday’ turns into ‘Black Q4’. That is why a look into this week’s searches by Financial Advisors had me thinking of the song ‘Silver and Gold’, famously sung by the prospector Yukon Cornelius in Rudolph the Red Nose Reindeer. Precious metals searches dominated among FAs with >$1 bln in assets (Ranking GDX #3, GLD #7 and SLV #11) as well as the broader FA population (GLD #8, SLV #10, and GDX #11). Precious Metals also emerged on the Top ETF Categories searched by FAs (#5).
The price action in gold suggests that FAs are still in a shopping phase. Despite being heavily researched, Gold ETF (GLD) was down -1.4% on the week. Some of the weakness can be attributed to a stronger dollar which was seeing a haven bid and a boost from a weaker euro which makes up 57% of the DXY basket. The latest CFTC data released on Friday showed large speculators had reduced their bullish net positions in gold futures. At the same time, we are seeing the key September support levels in both gold ETFs and futures tested. Given the focus on gold by your FAs and the huge macro implications for this week, investors need to have these ETFs on their radar.
Silver is a little more interesting as the iShares Trust Silver ETF (SLV) has been persistent in attracting advisor interest. SLV enjoyed a huge run from its March lows, rallying from $11 to $27 in early August. The commodity has since been faltering as it drifted below its 50-sma back in late September. This is also testing key support levels around the $21 area. Like gold, FAs are closely watching this price action.
Perhaps prospectors are waiting for Mr. Cornelius to lick his pick ax and give the ‘all-clear’ that the 800-pound Abominable snow men have left the room. But until then, it is evident that silver and gold will be a focus of financial professionals.
Other names of interest:
- UVXY (#3 overall, #5 AUM over $1 bln) – Volatility remains a concern for FAs.
- LIT (#13 AUM >$1 bln)- Electric Vehicles have been a popular focus for advisors but this is the first time we have seen the battery ETF hit our Top 20 list.
- DFEN (#15 Overall FAs)- This is the 3x Bull ETF for Aerospace & Defense which suggests expectations of some volatility in the space around elections.