What a difference a few days makes. Earlier this week, some of the 20 best performing ETFs were down versus five days before. Now, there are some ETFs trading higher than they were a week ago on the worst performers list! Iron ore has made a tentative short-term bottom in Asian trade over the last two days and that’s helped push up metals and mining as well as steel. Gold got a huge bid over the last two days following dovish reactions to the BoJ and FOMC. Biotech also continues to outperform. Despite a weakening USD post-FOMC, GBPUSD is still lower over the past five days and is the worst performer of ETFs we track. SEK has also been down notably, which is a bit confusing given the dollar index is also on the worst performers list.

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