Still Bearish On EM, But Less So

Vijit Bagh/Pexels

A Quick Update

Portfolio Armor is still bullish on the Direxion Daily MSCI Emerging Markets Bear 3X Shares (EDZ), a leveraged bet against emerging markets, but it was not in our top ten as of Wednesday’s close.

The same is true of other inverse ETFs I’ve mentioned here recently: the Direxion Daily Gold Miners Index Bear 2X Shares (DUST), Direxion Daily 20+ Year Treasury Bear 3X Shares (TMV), ProShares UltraPro Short 20+ Year Treasury (TTT), and Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS).

I’ve been meaning to write an update on the Ukraine War, given all that’s happened this week, but in the meantime I wanted to mention this. Timing entries with volatile names such as leveraged ETFs is tricky, and something our new factor (described here) seems to have improved.

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