Despite finishing on a down note, the equities market and stock exchange traded funds closed out their best month in four years.
Over October, the Dow Jones Industrial Average increased 8.5%, the Nasdaq Composite advanced 9.3% and the S&P 500 rose 8.3%.
The best performing non-leveraged ETFs over the past month include Global X MSCI Argentina ETF (NYSEArca: ARGT) up 24.8%, Market Vectors Solar Energy ETF (NYSEArca: KWT) up 23.5% and KraneShares CSI China Internet Fund (NasdaqGM: KWEB) up 22.9%.
A pro-business Conservative has unexpectedly gained traction in the Argentinian presidential elections, bolstering Argentina’s markets and country-specific ETF. [Argentina ETF Receives An Unexpected Political Tailwind]
Solar stocks rallied in October as value investors saw an opportunity to capitalize on attractive long-term fundamentals. For instance, according to Treasa Ni Chonghaile, co-manager of the Calvert Global Energy Solutions fund, the U.S. solar industry is expected to double in 2016 as it benefits from tax credits, reports Dimitra DeFotis for Barron’s. [ETFs For The Environmentally Conscious]
After the steep sell-off in Chinese equities, investors were returning to China and pushed Chinese stocks toward their first monthly gain since May as the government’s attempts to stabilize markets may finally be taking effect.
The worst performing non-leveraged exchange traded products over the past month include the C-Tracks on Citi Volatility Index ETN (NYSEArca: CVOL) down 51.5%, ProShares VIX Short-Term Futures ETF (NYSEArca: VIXY) down 31.2% and VelocityShares Daily Long VIX Short-Term ETN (NYSEArca: VIIX) down 31.0%.
The equities market steadily regained ground over October, with improved automobile sales supporting gains at the start of the month. A surprisingly weak September employment report added to speculation that the Fed will maintain accommodative measures.