Best & Worst ETFs Of Thanksgiving Week

The 2018 Thanksgiving week defied historical trends. The holiday-shortened week is usually a treat for stock investors, even with low volumes. However, this time around, bitter U.S.-China trade relations and global growth worries kept investors jittery. Additionally, the oil price rout worsened last week and took a toll on sentiments.

The three major indices logged in their biggest losses in a Thanksgiving week since 2011 with Dow Jones, S&P 500 and Nasdaq Composite Index tumbling 4.4%, 3.8% and 4.3%, respectively. The decline came in spite of a solid start to the holiday shopping season. A burst of online deals on products ranging from apparel to flat-screen TVs had boosted online sales in the Thanksgiving week.

According to Adobe Analytics, online sales jumped 28% to $3.7 billion on Thanksgiving Day and 23.6% to a record $6.22 billion on Black Friday. This makes Thursday the fastest-growing day for e-commerce sales in history and makes the Friday after Thanksgiving Day the first to see more than $2 billion in sales stemming from smartphones. About 33.5% of e-commerce sales came from mobile devices compared with 29.1% in 2017.

While the sluggish trading in the stock world pushed many ETFs in red last week, the optimism for the holiday season and defensive approach led to the emergence of a few winners. Given this, we have highlighted the best and worst performing ETFs of the Thanksgiving week:

Best ETFs

Principal Contrarian Value Index ETF (PVAL - Free Report) – Up 3%

This fund tracks the Nasdaq U.S. Contrarian Value Index, which uses a quantitative model designed to identify equity securities in the Nasdaq US Large Mid Cap Index that appear to be undervalued by the market relative to their fundamental value. This methodology seeks to capitalize on inefficiencies in the market and has the potential to deliver higher returns with lower volatility compared with growth and blend counterparts. Holding 251 stocks in its basket, the product is widely diversified with each accounting for less than 1% share. It has amassed $3.7 million in its asset base since its debut more than a year ago and charges 29 bps in annual fees. 

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