Disclosures ETF Research Tuesday, February 6, 2024 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com THE MAG 7 IS NOW THE SENSATIONAL 6; WHAT GETS CASH OUT OF MONEY MARKETS? With markets digesting a heavy dose of earnings and Fed related data, here's what most important from our ETF corner of the ... Those 6 stocks now account for 28% of SPY weight. We highlight a handful of equal-weight ETFs if you're in need of balancing core exposure. 2) ...

The most notable exception being Germany, where most of the curve is attractive. * Volatility is lower, with applied ATM volatility on bond ETFs normal vs the ... ATM implied volatility on major fixed income ETFs is middle of the road versus the past 7 years. The MOVE index, which measures Treasury market volatility, also remains low. 0% 25% 50% 75% 100% 0 4 8 12 16 TLT EMB LQD HYG JNK TIP IEF BND AGG MUB IEI SHY 1 Year Percentile Rank ATM Implied Volatility Bond ETF Volatility ...

... Tech Sector ETF Flows ($MM) Last 250-Days Since 10/27 S&P Low SOME POCKETS OF EXCESSIVE ENTHUSIASM... Strategas Technical & Macro Research 10 2/2/2024 Todd Sohn noted this in his Tuesday work as well, but Tech far and away the destination for the bulk of ETF flows over both ... NO LET UP FROM THE URANIUM STOCKS Strategas Technical & Macro Research 33 2/2/2024 Sprott Uranium Miners ETF (URNM) 50 & 200-Day MA Sprott Junior Uranium Miners ETF (URNJ) 50 & 200-Day MA URNJ ...

Our ETF Strategist, Todd Sohn, tells me that at the end of 2023 there were 146 dividend-oriented ETFs with $360bn of AUM. Furthermore, Meta is held in over 400 ETFs of which only 3 would fall into this dividend category. Keep in mind that there are even more dividend-oriented investors outside of the ETF world who will likely be looking to add a position. This could be a tailwind for the stock and likely limits the downside barring any significant fundamental change. ...

... Notably, the sector is breaking out after a roughly 3-year pause but without any signs of excess optimism via ETF flows. Machinery names are among ... Preference for superior operators prevalent. Recent Industrial ETF Flows Reflect Apathy Strategas Securities - Global Asset Allocation & Sector Research Please Do Not Redistribute 10 2/1/2024 Equal-Weight Industrials ETF (RSPN) Relative Equal-Weight S&P 500 ETF (RSP) 200-Day Average Industrials relative leadership has paused ...

... Financials Tech Sector ETF Flows ($MM) Last 250-Days Since 10/27 S&P Low SOME POCKETS OF EXCESSIVE ENTHUSIASM... Strategas Technical & Macro Research Please Do Not Redistribute 9 2/1/2024 Todd Sohn noted this in his Tuesday work as well, but Tech far and away the destination for the bulk of ETF flows over both the ... CHINA FUND CLOSURES Strategas Technical & Macro Research Please Do Not Redistribute 19 2/1/2024 Our ETF savant, Todd Sohn, brought this to our attention at a ...

Free Cash Flow Historically Is King A theme we have been talking about for some time is the ability for companies to self-fund and in a scenario where rates rise it will be that much more important. Knowing that companies with the highest free cash flow yields have historically outperformed we believe there is no reason for that to change today. Furthermore, there have been a slew of ETFs launched that follow this idea as well. The table below shows the S&P 500 companies with ...

$4,000 $8,000 $12,000 $16,000 Healthcare Energy Staples Utilities Materials Industrials Comm Discretionary Real Estate Financials Tech Sector ETF Flows ($MM) Last 250-Days Since 10/27 S&P Low Strategas ETF Research Please Do Not Redistribute See Appendix for Important Disclosures ETF Research Tuesday, January 30, 2024 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com TECH SECTOR FLOWS REFLECT AGGRESSIVE ATTITUDES There are a few notable Tech events ...

... Fixed Income ETFs Yield vs. Volatility Bubble Size = Duration Staples Have Major Allocation Competition Strategas Securities - Global Asset Allocation & Sector Research Please Do Not Redistribute 6 1/25/2024 Staples have a lower yield, but higher volatility than competitive bond ETFs... ... 7 1/25/2024 High Beta ETF (SPHB) Relative Low Vol ETF (SPLV) +/- 2 Standard Deviation Bands Staples Beta to S&P 500 Staples are the dominant Low Vol weight at nearly 25%. ...

... Reduced Trade Tensions FDX FedEx Corporation We believe that trade tensions, especially with Mexico, but also Europe and Canada, would be lesser under Biden given Trump's stance on the border and a 10% import tariff. Of note, the 6-year review for USMCA is due in 2025-2026. CP Canadian Pacific Kansas City Ltd EWW iShares MSCI Mexico ETF No Border Adjustable Tax BBY Best Buy Co., Inc. Talk of a border adjustable tax (BAT) in late 2016/early 2017 caused a lobbying frenzy for ...