Our weekly looks at the most searched exchange traded funds are usually an entertaining, instructive exercise.
Still, even we will admit that the dominance of Russia ETFs among the most searched international funds was getting a little too predictable. Seeing a Russia ETF, or two or three at or near the top of the most searched ETFs for multiple months started to lack in entertainment value after a while.
That changed this week as it was India ETFs that were far and away the most searched global funds on ETF Trends. http://www.etftrends.com/
In fact, the most searched ETF of any type was the WisdomTree India Earnings Fund (NYSEArca: EPI), the largest India ETF. India ETFs were highly trafficked after Narendra Modi, the leader of the Hindu nationalist Bharatiya Janata Party cruised to victory in one of the most widely followed elections in recent memory for the world’s largest democracy.
Importantly, Modi’s BJP party appears likely to gain enough Narendra Modi, the leader of the Hindu nationalist Bharatiya Janata Party, for a majority.
A majority government would be India’s first in three decades and gives Modi the mandate markets are hoping for to spur infrastructure and increase economic reforms. [India Election Results Could Lift Infrastructure ETF]
Other India ETFs that were highly searched on the week include the PowerShares India Portfolio (NYSEArca: PIN), the Infrastructure Index Fund (NYSEArca: INXX) and the Market Vectors India Small-Cap Index ETF (NYSEArca: SCIF). PIN closed at a 27-month high Friday. [PIN-terest Among India ETFs]
On the domestic front, some symmetry was readily identified. For example, the iShares Russell 2000 ETF (NYSEArca: IWM) was this week’s most searched broad market ETF. That stirred searches of the Direxion Daily Small Cap Bear 3X Shares (NYSEArca: TZA), which finished the week as the most searched leveraged ETF. [The Smal-Cap ETF Riddle]
The ongoing rally in Treasury ETFs lifted the iShares 20+ Year Treasury Bond ETF (NYSEArca: TLT) to the top spot among the most searched bond funds. As was noted Thursday, some investors are messing with fire during this Treasury. That was evident with appearance of the Direxion Daily 20-Year Treasury Bear 3X Shares (NYSEArca: TMV) in the top-10. TMV was the second-most searched bond and leveraged ETF. [Inverse Bond ETFs: A Losing Bet]
The Market Vectors Gold Miners ETF (NYSEArca: GDX) made a return appearance on this week’s most searched list, perhaps stoked by 13F filing season. Those filings are showing that some big-name hedge fund managers are still long and adding to positions in bullion and mining stocks. [Paulson, Soros Still Like Gold ETFs]
Other highly searched ETFs on the week included the iShares MSCI EAFE ETF (NYSEArca: EFA) and the Guggenheim Solar ETF (NYSEArca: TAN), which slumped 4.2% for the week.
WisdomTree India Earnings Fund
Tom Lydon’s clients own shares of EFA, IWM and TLT.