Whenever we enter a new season or phase of the calendar, we like to think of things getting off to a fresh start where everyone starts from the same point. It’s still early in the second half, but so far at least, most of the trends from Q1 remain in place this half. So much for the blank slate! Check out our ETF Matrix below to see how this has played out.
Take the Nasdaq 100 (QQQ) among US indices. YTD, QTD, and this week it is the top performing US index ETF. Among different US style ETFs, growth (IVW) leads the way in all three categories. As far as sectors are concerned, it is a similar picture as Technology (XLK), Health Care (XLV), Materials (XLB), and Industrials (XLI) are all near the top in all three categories. The one sector bucking the trend is Energy (XLE). While it is down the most YTD and lagging QTD, this week the sector outperformed every other ETF except Technology.
In International markets, it is a similar trend to a degree, except that just about everything is up, and you can thank the weakness in the US dollar for that. Finally, the Treasury market has seen middling returns, which is exactly the way it should be!
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Have a great weekend!