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Barclays analysts listed the top 10 exchange-traded funds among their covered universe that have the most bearish sentiment and the most bullish sentiment, according to the firm’s Sentiment Indicator.
Two China-related funds, the ASHR Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) and the KraneShares CSI China Internet ETF (KWEB), were in Barclays’ bearish sentiment screen.
Their appearance came ahead of a key July meeting of the Communist Party’s lead governing body, “underscoring the potential for a positive market reaction should the Chinese surprise with a favorable policy announcement,” Barclays Analyst Stefano Pascale said in a note Thursday.
The CPC’s third plenary session will be held July 15-18 in Beijing.
Here are the ETFs with the most bearish sentiment:
- U.S. Global Jets ETF (JETS) – Sentiment: 80%
- iShares Semiconductor ETF (SOXX) – Sentiment: 72%
- SPDR S&P Metals and Mining ETF (XME) – Sentiment: 70%
- SPDR S&P Regional Banking ETF (KRE) – Sentiment: 70%
- iShares MSCI Emerging Markets ETF (EEM) – Sentiment: 69%
- United States Oil Fund (USO) – Sentiment: 66%
- VanEck Gold Miners ETF (GDX) – Sentiment: 65%
- ASHR Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR) – Sentiment: 65%
- SPDR Euro Stoxx 50 ETF (FEZ) – Sentiment: 64%
- KraneShares CSI China Internet ETF (KWEB) Sentiment: 63%
Here are the ETFs with the most bullish sentiment:
- iShares MSCI Mexico ETF (EWW) – Sentiment: 39%
- iShares 20+ Year Treasury Bond ETF (TLT) – Sentiment: 39%
- SPDR S&P Retail ETF (XRT) – Sentiment: 37%
- iShares MSCI South Africa ETF (EZA) – Sentiment: 37%
- Materials Select Sector SPDR Fund ETF (XLB) – Sentiment: 36%
- iShares iBoxx IG Corporate Bond ETF (LQD) – Sentiment: 35%
- WisdomTree Europe Hedged Equity ETF (HEDJ) – Sentiment: 35%
- SPDR S&P Oil & Gas Exploration & Production ETF (XOP) –Sentiment: 33%
- iShares MSCI United Kingdom ETF (EWU) – Sentiment: 32%
- Financial Select Sector SPDR Fund ETF (XLF) – Sentiment: 31%
