Nasdaq releases its top 25 ETFs for the last week and month — here's what's working (via ETFEdgeCNBC)
The Nasdaq uses a combination score for its ranking that considers four factors: the ETF's potential for return, or how much it moves; its inflows and outflows; how many of its shares trade and its ability to grow assets in absolute terms.
With ETFs accounting for about 40% of the value traded during the March sell-off, according to Nasdaq Economics Research, the rankings have shed light on buyers' strategies, Phil Mackintosh, Nasdaq's chief economist, told CNBC's"You've really seen a cycling of investor appetite," Mackintosh said.
"We've seen value, we've seen small cap[s] and we've seen a lot of trading into international markets because they've been stretched on the downside, probably oversold," he said. "As we see people getting back to work, as we see Europe getting back to work and not seeing a case spike, it makes sense to start to think about whether those economies might recover a little bit more quickly than the U.S. market.
Dave Nadig, chief investment officer and director of research at ETF Trends, interpreted this week's ranking as more and more buyers trying to call a bottom in various market groups. "We've seen things with USO when people were trying to call the bottom in oil. We saw that with JETS when people were trying to call the bottom in airlines," Nadig said in the same "ETF Edge" interview.
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