<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2020/06/11/19/51/mockup-5288033_960_720.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2020/06/11/19/51/mockup-5288033_960_720.jpg"/></p>
<p><em>圖片來源：Pixabay</em></p>
<p>我們首先來看一下近期表現的基準指數 ETF 和股票</p>
<h3>ETF 表現</h3>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>代碼</strong></td>
<td><strong>名稱</strong></td>
<td><strong>VE 評級</strong></td>
<td><strong>最後收盤日期</strong></td>
<td><strong>最後收盤價格</strong></td>
<td><strong>上週價格</strong></td>
<td><strong>變動</strong></td>
</tr>
<tr>
<td>QQQM</td>
<td>Invesco NASDAQ 100 ETF</td>
<td>4</td>
<td>2026-02-06</td>
<td>251.01</td>
<td>257.82</td>
<td>-2.64%</td>
</tr>
<tr>
<td>SCHD</td>
<td>Schwab 美國股息股票 ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>31.47</td>
<td>30</td>
<td>4.90%</td>
</tr>
<tr>
<td>SPYM</td>
<td>State Street SPDR S&amp;P 500 ETF</td>
<td>4</td>
<td>2026-02-06</td>
<td>81.27</td>
<td>81.84</td>
<td>-0.70%</td>
</tr>
<tr>
<td>VB</td>
<td>Vanguard 小型股指數基金 ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>277.35</td>
<td>271.74</td>
<td>2.06%</td>
</tr>
<tr>
<td>XLB</td>
<td>State Street 材料選擇行業 SPDR ETF</td>
<td>3</td>
<td>2026-02-06</td>
<td>51.51</td>
<td>49.65</td>
<td>3.75%</td>
</tr>
<tr>
<td>XLC</td>
<td>State Street 通信服務選擇行業 SPDR ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>115.76</td>
<td>119.67</td>
<td>-3.27%</td>
</tr>
<tr>
<td>XLE</td>
<td>State Street 能源選擇行業 SPDR ETF</td>
<td>3</td>
<td>2026-02-06</td>
<td>53.25</td>
<td>50.05</td>
<td>6.39%</td>
</tr>
<tr>
<td>XLF</td>
<td>State Street 金融選擇行業 SPDR ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>54.26</td>
<td>54.03</td>
<td>0.43%</td>
</tr>
<tr>
<td>XLI</td>
<td>State Street 工業選擇行業 SPDR ETF</td>
<td>4</td>
<td>2026-02-06</td>
<td>173.18</td>
<td>167.53</td>
<td>3.37%</td>
</tr>
<tr>
<td>XLK</td>
<td>State Street 科技選擇行業 SPDR ETF</td>
<td>5</td>
<td>2026-02-06</td>
<td>141.13</td>
<td>145.26</td>
<td>-2.84%</td>
</tr>
<tr>
<td>XLP</td>
<td>State Street 消費品選擇行業 SPDR 收入 ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>87.94</td>
<td>84.5</td>
<td>4.07%</td>
</tr>
<tr>
<td>XLRE</td>
<td>State Street 房地產選擇行業 SPDR ETF</td>
<td>1</td>
<td>2026-02-06</td>
<td>41.99</td>
<td>40.96</td>
<td>2.51%</td>
</tr>
<tr>
<td>XLU</td>
<td>State Street 公用事業選擇行業 SPDR ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>43.35</td>
<td>42.62</td>
<td>1.71%</td>
</tr>
<tr>
<td>XLV</td>
<td>State Street 醫療保健選擇行業 SPDR ETF</td>
<td>3</td>
<td>2026-02-06</td>
<td>157.71</td>
<td>155.69</td>
<td>1.30%</td>
</tr>
<tr>
<td>XLY</td>
<td>State Street 消費品選擇行業 SPDR 收入 ETF</td>
<td>1</td>
<td>2026-02-06</td>
<td>117.99</td>
<td>121.97</td>
<td>-3.26%</td>
</tr>
</tbody>
</table>
<p>當前 ValuEngine 對所有覆蓋股票和 ETF 的報告可以在此查看</p>
<h3><strong>全球前三大股票表現者</strong></h3>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>代碼</strong></td>
<td><strong>名稱</strong></td>
<td><strong>VE 評級</strong></td>
<td><strong>最後收盤日期</strong></td>
<td><strong>最後收盤價格</strong></td>
<td><strong>30 天前價格</strong></td>
<td><strong>差異</strong></td>
</tr>
<tr>
<td>KMTUY</td>
<td>小松株式會社</td>
<td>4</td>
<td>2026-02-06</td>
<td>46.28</td>
<td>34.54</td>
<td>33.99%</td>
</tr>
<tr>
<td>STX</td>
<td>希捷科技控股公司</td>
<td>4</td>
<td>2026-02-06</td>
<td>429.32</td>
<td>321.48</td>
<td>33.54%</td>
</tr>
<tr>
<td>MT</td>
<td>阿塞洛米塔爾公司</td>
<td>5</td>
<td>2026-02-06</td>
<td>61.3</td>
<td>47.85</td>
<td>28.11%</td>
</tr>
</tbody>
</table>
<h3><strong>美國前三大股票表現者</strong></h3>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>代碼</strong></td>
<td><strong>名稱</strong></td>
<td><strong>VE 評級</strong></td>
<td><strong>最後收盤日期</strong></td>
<td><strong>最後收盤價格</strong></td>
<td><strong>30 天前價格</strong></td>
<td><strong>差異</strong></td>
</tr>
<tr>
<td>LITE</td>
<td>Lumentum Holdings Inc</td>
<td>5</td>
<td>2026-02-06</td>
<td>551.99</td>
<td>339.87</td>
<td>62.41%</td>
</tr>
<tr>
<td>SNDK</td>
<td>SanDisk 公司</td>
<td>4</td>
<td>2026-02-06</td>
<td>597.95</td>
<td>389.27</td>
<td>53.61%</td>
</tr>
<tr>
<td>GLW</td>
<td>康寧公司</td>
<td>4</td>
<td>2026-02-06</td>
<td>122.16</td>
<td>87.88</td>
<td>39.01%</td>
</tr>
</tbody>
</table>
<p><strong>策略説明：</strong></p>
<p>你對上週股市表現的看法取決於你使用哪個指數 ETF 作為你的晴雨表。從豐盛到匱乏再到迴歸，SPYM——State Street SPDRs 的最低費用 S&amp;P 500 ETF——經歷了一週過山車般的波動，堪比麥克白獨白的結尾。它 “充滿了聲音和憤怒，卻毫無意義。”</p>
<p>在總體指數水平大致不變的情況下，各種風格、規模和地域之間的劇烈輪動持續進行。價值股的表現遠超成長股，而大型科技股越來越成為小型價值股和非美國股票的資金來源。結果是，儘管某些行業、國際市場和商品實現了穩健的增長，但廣泛的美國基準指數卻經歷了波動但最終無方向的一週——這進一步強化了這樣的觀點：這仍然是一個股票挑選者和配置者的市場，而不是一個簡單的指數驅動市場。</p>
<p>對於大型成長投資者來説，上週的表現更糟糕，因為 Invesco Nasdaq-100 ETF (QQQ) 下跌了大約 2%，而 Vanguard Growth ETF (VUG) 下跌了 2.7%，而 Vanguard Value ETF 上漲了超過 3%。簡而言之，這是一個專注於與收益相關的價值機會的股票市場，而不是收益增長——一個經典的股票挑選者市場。</p>
<p>在其他市場中，iShares 新興市場 ETF (EEM) 和 iShares MSCI EAFE ETF (EFA) 均上漲超過 1.5%，而 SPDR 黃金迷你股份 (GLDM) 上漲了 2.1%。從 SPY 和 QQQ 的角度來看，“賣出美國” 的交易繼續與價值和規模輪動交易並行，大型納斯達克 100 成分股越來越多地被用作資金來源。</p>
<p>我們現在已經過了財報季的中點，儘管還遠未結束。本週有 79 家 S&amp;P 500 公司計劃發佈財報。其中最受關注的名字之一是評級為 5（強烈買入）的股票——<strong>Robinhood Markets (HOOD)</strong>，這是我們評級最高的經紀商。還有五家公司計劃發佈財報，評級為 4（買入），包括醫療保健公司 Moderna (MRNA)、Gilead Sciences (GILD) 和 CVS Health (CVS)，以及福特汽車 (F) 和半導體設備製造商應用材料 (AMAT)。</p>
<p>GILD 是 <strong>Invesco Nasdaq 生物科技 ETF (IBBQ)</strong> 中第二大持倉，這是我們唯一評級為 5（強烈買入）的醫療保健相關 ETF。值得注意的是，IBBQ 中的另外三隻生物科技股票也獲得了 5 的評級：<strong>阿斯利康 (AZN)、阿根克斯 (ARGX)</strong> 和 Insmed (INSM)。前兩者與 “賣出美國” 的配置主題特別契合。</p>
<p>目前與 ValuEngine 評級相符的最有效的 “賣出美國” ETF 是 <strong>AdvisorShares Dorsey Wright ADR ETF (AADR)</strong>。該 ETF 本身的評級為 5，其十個最大持倉的評級也均為 5。巴西航空航天和國防公司 <strong>Embraer (ERJ)</strong> 是該 ETF 的最大持倉。此外，材料類的敞口也相當顯著，Gold Fields (GFI) 在該組中佔據最大配置。</p>
<p>關於大型美國成長股將持續作為其他投資資金來源的時間，意見不一。對於那些認為這一趨勢仍處於早期階段的人來説，以下幾隻高評級的 ETF 和股票尤為突出。</p>
<hr/>
<p><em>更多來自此作者的文章：</em></p>
<p>一月以對美元的重新穩定感知結束</p>
<p>&#34;賣出美國&#34; - 本週成為焦點的交易趨勢</p>
<p>每週策略更新和 ETF 回顧</p>

2 倍做多 Robinhood ETF - Leverage Shares

AdvisorShares Dorsey Wright美國存託憑證ETF

HOOD

2 倍做多 HOOD ETF - T-Rex

<p>基準指數 ETF 的近期表現顯示出風格、規模和地區之間的顯著輪動。價值股表現優於成長股，大型科技股為小型股和非美國股票提供了資金。市場仍然波動但缺乏方向，偏向於選股者。國際市場和商品出現了顯著的漲幅。財報季持續進行，本週有 79 家標準普爾 500 指數公司發佈財報，包括 Robinhood 和幾家醫療保健公司。AdvisorShares Dorsey Wright ADR ETF 被強調為追求 “賣出美國” 策略的強勁選擇，所有主要持股均獲得高評級</p>

<p><img src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2020/06/11/19/51/mockup-5288033_960_720.jpg" alt="" original-src="https://cdn.pixabay.com/photo/2020/06/11/19/51/mockup-5288033_960_720.jpg"/></p>
<p><em>Image Source: Pixabay</em></p>
<div class="lb-trans"><p><em>圖片來源：Pixabay</em></p>
</div><p>We begin with a look of recent performance for featured benchmark index ETFs and stocks</p>
<div class="lb-trans"><p>我們首先來看一下近期表現的基準指數 ETF 和股票</p>
</div><h3>ETF Performance</h3>
<div class="lb-trans"><h3>ETF 表現</h3>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Ticker</strong></td>
<td><strong>Name</strong></td>
<td><strong>VE Rating</strong></td>
<td><strong>Last Close Date</strong></td>
<td><strong>Last Close Price</strong></td>
<td><strong>Last Week Price</strong></td>
<td><strong>Change</strong></td>
</tr>
<tr>
<td>QQQM</td>
<td>Invesco NASDAQ 100 ETF</td>
<td>4</td>
<td>02-06-2026</td>
<td>251.01</td>
<td>257.82</td>
<td>-2.64%</td>
</tr>
<tr>
<td>SCHD</td>
<td>Schwab US Dividend Equity ETF</td>
<td>2</td>
<td>02-06-2026</td>
<td>31.47</td>
<td>30</td>
<td>4.90%</td>
</tr>
<tr>
<td>SPYM</td>
<td>State Street SPDR Portfolio S&amp;P 500 ETF</td>
<td>4</td>
<td>02-06-2026</td>
<td>81.27</td>
<td>81.84</td>
<td>-0.70%</td>
</tr>
<tr>
<td>VB</td>
<td>Vanguard Small-Cap Index Fund ETF</td>
<td>2</td>
<td>02-06-2026</td>
<td>277.35</td>
<td>271.74</td>
<td>2.06%</td>
</tr>
<tr>
<td>XLB</td>
<td>State Street Materials Select Sector SPDR ETF</td>
<td>3</td>
<td>02-06-2026</td>
<td>51.51</td>
<td>49.65</td>
<td>3.75%</td>
</tr>
<tr>
<td>XLC</td>
<td>State Street Com Svc Sel Sec SPDR ETF</td>
<td>2</td>
<td>02-06-2026</td>
<td>115.76</td>
<td>119.67</td>
<td>-3.27%</td>
</tr>
<tr>
<td>XLE</td>
<td>State Street Energy Select Sector SPDR ETF</td>
<td>3</td>
<td>02-06-2026</td>
<td>53.25</td>
<td>50.05</td>
<td>6.39%</td>
</tr>
<tr>
<td>XLF</td>
<td>State Street Financial Sel Sec SPDR ETF</td>
<td>2</td>
<td>02-06-2026</td>
<td>54.26</td>
<td>54.03</td>
<td>0.43%</td>
</tr>
<tr>
<td>XLI</td>
<td>State Street Industrial Select Sector SPDR ETF</td>
<td>4</td>
<td>02-06-2026</td>
<td>173.18</td>
<td>167.53</td>
<td>3.37%</td>
</tr>
<tr>
<td>XLK</td>
<td>State Street Technology Select Sector SPDR ETF</td>
<td>5</td>
<td>02-06-2026</td>
<td>141.13</td>
<td>145.26</td>
<td>-2.84%</td>
</tr>
<tr>
<td>XLP</td>
<td>State Street Cons Staples Sel Sec SPDR Inc ETF</td>
<td>2</td>
<td>02-06-2026</td>
<td>87.94</td>
<td>84.5</td>
<td>4.07%</td>
</tr>
<tr>
<td>XLRE</td>
<td>State Street Real Estate Select Sector SPDR ETF</td>
<td>1</td>
<td>02-06-2026</td>
<td>41.99</td>
<td>40.96</td>
<td>2.51%</td>
</tr>
<tr>
<td>XLU</td>
<td>State Street Utilities Select Sector SPDR ETF</td>
<td>2</td>
<td>02-06-2026</td>
<td>43.35</td>
<td>42.62</td>
<td>1.71%</td>
</tr>
<tr>
<td>XLV</td>
<td>State Street Health Care Select Sector SPDR ETF</td>
<td>3</td>
<td>02-06-2026</td>
<td>157.71</td>
<td>155.69</td>
<td>1.30%</td>
</tr>
<tr>
<td>XLY</td>
<td>State Street Cons Disc Sel Sect SPDR Income ETF</td>
<td>1</td>
<td>02-06-2026</td>
<td>117.99</td>
<td>121.97</td>
<td>-3.26%</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>代碼</strong></td>
<td><strong>名稱</strong></td>
<td><strong>VE 評級</strong></td>
<td><strong>最後收盤日期</strong></td>
<td><strong>最後收盤價格</strong></td>
<td><strong>上週價格</strong></td>
<td><strong>變動</strong></td>
</tr>
<tr>
<td>QQQM</td>
<td>Invesco NASDAQ 100 ETF</td>
<td>4</td>
<td>2026-02-06</td>
<td>251.01</td>
<td>257.82</td>
<td>-2.64%</td>
</tr>
<tr>
<td>SCHD</td>
<td>Schwab 美國股息股票 ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>31.47</td>
<td>30</td>
<td>4.90%</td>
</tr>
<tr>
<td>SPYM</td>
<td>State Street SPDR S&amp;P 500 ETF</td>
<td>4</td>
<td>2026-02-06</td>
<td>81.27</td>
<td>81.84</td>
<td>-0.70%</td>
</tr>
<tr>
<td>VB</td>
<td>Vanguard 小型股指數基金 ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>277.35</td>
<td>271.74</td>
<td>2.06%</td>
</tr>
<tr>
<td>XLB</td>
<td>State Street 材料選擇行業 SPDR ETF</td>
<td>3</td>
<td>2026-02-06</td>
<td>51.51</td>
<td>49.65</td>
<td>3.75%</td>
</tr>
<tr>
<td>XLC</td>
<td>State Street 通信服務選擇行業 SPDR ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>115.76</td>
<td>119.67</td>
<td>-3.27%</td>
</tr>
<tr>
<td>XLE</td>
<td>State Street 能源選擇行業 SPDR ETF</td>
<td>3</td>
<td>2026-02-06</td>
<td>53.25</td>
<td>50.05</td>
<td>6.39%</td>
</tr>
<tr>
<td>XLF</td>
<td>State Street 金融選擇行業 SPDR ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>54.26</td>
<td>54.03</td>
<td>0.43%</td>
</tr>
<tr>
<td>XLI</td>
<td>State Street 工業選擇行業 SPDR ETF</td>
<td>4</td>
<td>2026-02-06</td>
<td>173.18</td>
<td>167.53</td>
<td>3.37%</td>
</tr>
<tr>
<td>XLK</td>
<td>State Street 科技選擇行業 SPDR ETF</td>
<td>5</td>
<td>2026-02-06</td>
<td>141.13</td>
<td>145.26</td>
<td>-2.84%</td>
</tr>
<tr>
<td>XLP</td>
<td>State Street 消費品選擇行業 SPDR 收入 ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>87.94</td>
<td>84.5</td>
<td>4.07%</td>
</tr>
<tr>
<td>XLRE</td>
<td>State Street 房地產選擇行業 SPDR ETF</td>
<td>1</td>
<td>2026-02-06</td>
<td>41.99</td>
<td>40.96</td>
<td>2.51%</td>
</tr>
<tr>
<td>XLU</td>
<td>State Street 公用事業選擇行業 SPDR ETF</td>
<td>2</td>
<td>2026-02-06</td>
<td>43.35</td>
<td>42.62</td>
<td>1.71%</td>
</tr>
<tr>
<td>XLV</td>
<td>State Street 醫療保健選擇行業 SPDR ETF</td>
<td>3</td>
<td>2026-02-06</td>
<td>157.71</td>
<td>155.69</td>
<td>1.30%</td>
</tr>
<tr>
<td>XLY</td>
<td>State Street 消費品選擇行業 SPDR 收入 ETF</td>
<td>1</td>
<td>2026-02-06</td>
<td>117.99</td>
<td>121.97</td>
<td>-3.26%</td>
</tr>
</tbody>
</table>
</div><p>Current ValuEngine reports on all covered stocks and ETFs can be viewed at HERE</p>
<div class="lb-trans"><p>當前 ValuEngine 對所有覆蓋股票和 ETF 的報告可以在此查看</p>
</div><h3><strong>Top 3 Stock Performers (Global)</strong></h3>
<div class="lb-trans"><h3><strong>全球前三大股票表現者</strong></h3>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Ticker</strong></td>
<td><strong>Name</strong></td>
<td><strong>VE Rating</strong></td>
<td><strong>Last Close Date</strong></td>
<td><strong>Last Close Price</strong></td>
<td><strong>Price 30 Days Ago</strong></td>
<td><strong>Difference</strong></td>
</tr>
<tr>
<td>KMTUY</td>
<td>Komatsu Ltd</td>
<td>4</td>
<td>02-06-2026</td>
<td>46.28</td>
<td>34.54</td>
<td>33.99%</td>
</tr>
<tr>
<td>STX</td>
<td>Seagate Technology Holdings PLC</td>
<td>4</td>
<td>02-06-2026</td>
<td>429.32</td>
<td>321.48</td>
<td>33.54%</td>
</tr>
<tr>
<td>MT</td>
<td>ArcelorMittal SA</td>
<td>5</td>
<td>02-06-2026</td>
<td>61.3</td>
<td>47.85</td>
<td>28.11%</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>代碼</strong></td>
<td><strong>名稱</strong></td>
<td><strong>VE 評級</strong></td>
<td><strong>最後收盤日期</strong></td>
<td><strong>最後收盤價格</strong></td>
<td><strong>30 天前價格</strong></td>
<td><strong>差異</strong></td>
</tr>
<tr>
<td>KMTUY</td>
<td>小松株式會社</td>
<td>4</td>
<td>2026-02-06</td>
<td>46.28</td>
<td>34.54</td>
<td>33.99%</td>
</tr>
<tr>
<td>STX</td>
<td>希捷科技控股公司</td>
<td>4</td>
<td>2026-02-06</td>
<td>429.32</td>
<td>321.48</td>
<td>33.54%</td>
</tr>
<tr>
<td>MT</td>
<td>阿塞洛米塔爾公司</td>
<td>5</td>
<td>2026-02-06</td>
<td>61.3</td>
<td>47.85</td>
<td>28.11%</td>
</tr>
</tbody>
</table>
</div><h3><strong>Top 3 Stock Performers (US)</strong></h3>
<div class="lb-trans"><h3><strong>美國前三大股票表現者</strong></h3>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>Ticker</strong></td>
<td><strong>Name</strong></td>
<td><strong>VE Rating</strong></td>
<td><strong>Last Close Date</strong></td>
<td><strong>Last Close Price</strong></td>
<td><strong>Price 30 Days Ago</strong></td>
<td><strong>Difference</strong></td>
</tr>
<tr>
<td>LITE</td>
<td>Lumentum Holdings Inc</td>
<td>5</td>
<td>02-06-2026</td>
<td>551.99</td>
<td>339.87</td>
<td>62.41%</td>
</tr>
<tr>
<td>SNDK</td>
<td>SanDisk Corp</td>
<td>4</td>
<td>02-06-2026</td>
<td>597.95</td>
<td>389.27</td>
<td>53.61%</td>
</tr>
<tr>
<td>GLW</td>
<td>Corning Inc</td>
<td>4</td>
<td>02-06-2026</td>
<td>122.16</td>
<td>87.88</td>
<td>39.01%</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td><strong>代碼</strong></td>
<td><strong>名稱</strong></td>
<td><strong>VE 評級</strong></td>
<td><strong>最後收盤日期</strong></td>
<td><strong>最後收盤價格</strong></td>
<td><strong>30 天前價格</strong></td>
<td><strong>差異</strong></td>
</tr>
<tr>
<td>LITE</td>
<td>Lumentum Holdings Inc</td>
<td>5</td>
<td>2026-02-06</td>
<td>551.99</td>
<td>339.87</td>
<td>62.41%</td>
</tr>
<tr>
<td>SNDK</td>
<td>SanDisk 公司</td>
<td>4</td>
<td>2026-02-06</td>
<td>597.95</td>
<td>389.27</td>
<td>53.61%</td>
</tr>
<tr>
<td>GLW</td>
<td>康寧公司</td>
<td>4</td>
<td>2026-02-06</td>
<td>122.16</td>
<td>87.88</td>
<td>39.01%</td>
</tr>
</tbody>
</table>
</div><p><strong>Strategy Note:</strong></p>
<div class="lb-trans"><p><strong>策略説明：</strong></p>
</div><p>Your perspective on how the stock market performed last week depended on which index ETF you used as your barometer. From feast to famine and back again, SPYM — the lowest fee S&amp;P 500 ETF from State Street SPDRs — had a roller coaster week worthy of the end of the MacBeth soliloquy. It was “full of sound and fury, signifying nothing.”</p>
<div class="lb-trans"><p>你對上週股市表現的看法取決於你使用哪個指數 ETF 作為你的晴雨表。從豐盛到匱乏再到迴歸，SPYM——State Street SPDRs 的最低費用 S&amp;P 500 ETF——經歷了一週過山車般的波動，堪比麥克白獨白的結尾。它 “充滿了聲音和憤怒，卻毫無意義。”</p>
</div><p>Beneath largely unchanged headline index levels, sharp rotations continued across style, size, and geography. Value stocks outperformed growth by a wide margin, while large-cap technology names increasingly served as sources of funds for smaller-cap, value-oriented, and non-US equities. The result was a volatile but ultimately directionless week for broad US benchmarks, even as select sectors, international markets, and commodities delivered solid gains—reinforcing the view that this remains a stock-picker’s and allocator’s market rather than a simple index-driven one.</p>
<div class="lb-trans"><p>在總體指數水平大致不變的情況下，各種風格、規模和地域之間的劇烈輪動持續進行。價值股的表現遠超成長股，而大型科技股越來越成為小型價值股和非美國股票的資金來源。結果是，儘管某些行業、國際市場和商品實現了穩健的增長，但廣泛的美國基準指數卻經歷了波動但最終無方向的一週——這進一步強化了這樣的觀點：這仍然是一個股票挑選者和配置者的市場，而不是一個簡單的指數驅動市場。</p>
</div><p>It was a far worse week for large-cap growth investors as the Invesco Nasdaq-100 ETF (QQQ) lost roughly 2% and Vanguard Growth ETF (VUG) declined 2.7%, while Vanguard Value ETF gained more than 3%. In short, it was a market of stocks focused on value opportunities tied to earnings rather than earnings growth — a classic stock-picker’s market.</p>
<div class="lb-trans"><p>對於大型成長投資者來説，上週的表現更糟糕，因為 Invesco Nasdaq-100 ETF (QQQ) 下跌了大約 2%，而 Vanguard Growth ETF (VUG) 下跌了 2.7%，而 Vanguard Value ETF 上漲了超過 3%。簡而言之，這是一個專注於與收益相關的價值機會的股票市場，而不是收益增長——一個經典的股票挑選者市場。</p>
</div><p>In other markets, both iShares Emerging Markets ETF (EEM) and iShares MSCI EAFE ETF (EFA) gained more than 1.5%, while SPDR Gold MiniShares (GLDM) advanced 2.1%. Viewed through the lenses of SPY and QQQ, the “Sell America” trade continues to work alongside the value-and-size rotation trade, with large Nasdaq-100 constituents increasingly used as sources of funds.</p>
<div class="lb-trans"><p>在其他市場中，iShares 新興市場 ETF (EEM) 和 iShares MSCI EAFE ETF (EFA) 均上漲超過 1.5%，而 SPDR 黃金迷你股份 (GLDM) 上漲了 2.1%。從 SPY 和 QQQ 的角度來看，“賣出美國” 的交易繼續與價值和規模輪動交易並行，大型納斯達克 100 成分股越來越多地被用作資金來源。</p>
</div><p>We are now past the halfway point of earnings season, though it is far from over. Seventy-nine S&amp;P 500 companies are scheduled to report this week. Among the most closely followed names is one 5-rated (Strong Buy) stock — <strong>Robinhood Markets (HOOD)</strong>, our highest-rated broker-dealer. Five additional companies scheduled to report carry 4 (Buy) ratings, including health-care firms Moderna (MRNA), Gilead Sciences (GILD), and CVS Health (CVS), along with Ford Motor (F) and semiconductor equipment maker Applied Materials (AMAT).</p>
<div class="lb-trans"><p>我們現在已經過了財報季的中點，儘管還遠未結束。本週有 79 家 S&amp;P 500 公司計劃發佈財報。其中最受關注的名字之一是評級為 5（強烈買入）的股票——<strong>Robinhood Markets (HOOD)</strong>，這是我們評級最高的經紀商。還有五家公司計劃發佈財報，評級為 4（買入），包括醫療保健公司 Moderna (MRNA)、Gilead Sciences (GILD) 和 CVS Health (CVS)，以及福特汽車 (F) 和半導體設備製造商應用材料 (AMAT)。</p>
</div><p>GILD is the second-largest holding in the <strong>Invesco Nasdaq Biotech ETF (IBBQ)</strong>, our only Health-Care-related ETF rated 5 (Strong Buy). Notably, three other biotech stocks within IBBQ also carry 5 ratings: <strong>AstraZeneca (AZN), Argenx (ARGX)</strong>, and Insmed (INSM). The first two align particularly well with a “Sell America” allocation theme.</p>
<div class="lb-trans"><p>GILD 是 <strong>Invesco Nasdaq 生物科技 ETF (IBBQ)</strong> 中第二大持倉，這是我們唯一評級為 5（強烈買入）的醫療保健相關 ETF。值得注意的是，IBBQ 中的另外三隻生物科技股票也獲得了 5 的評級：<strong>阿斯利康 (AZN)、阿根克斯 (ARGX)</strong> 和 Insmed (INSM)。前兩者與 “賣出美國” 的配置主題特別契合。</p>
</div><p>The most efficient “Sell America” ETF currently aligned with ValuEngine ratings is the <strong>AdvisorShares Dorsey Wright ADR ETF (AADR)</strong>. The ETF itself is rated 5, and each of its ten largest holdings also carries a 5 rating. Brazilian aerospace and defense firm <strong>Embraer (ERJ)</strong> represents the ETF’s largest position. Materials exposure is significant as well, with Gold Fields (GFI) holding the largest allocation among that group.</p>
<div class="lb-trans"><p>目前與 ValuEngine 評級相符的最有效的 “賣出美國” ETF 是 <strong>AdvisorShares Dorsey Wright ADR ETF (AADR)</strong>。該 ETF 本身的評級為 5，其十個最大持倉的評級也均為 5。巴西航空航天和國防公司 <strong>Embraer (ERJ)</strong> 是該 ETF 的最大持倉。此外，材料類的敞口也相當顯著，Gold Fields (GFI) 在該組中佔據最大配置。</p>
</div><p>Opinions vary on how long large U.S. growth stocks will continue to serve as sources of funds for other investments. For those who believe this trend is still in its early stages, several highly rated ETFs and stocks stand out below.</p>
<div class="lb-trans"><p>關於大型美國成長股將持續作為其他投資資金來源的時間，意見不一。對於那些認為這一趨勢仍處於早期階段的人來説，以下幾隻高評級的 ETF 和股票尤為突出。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多來自此作者的文章：</em></p>
</div><p>January Ends With Perceived Renewed Stability For The US Dollar</p>
<div class="lb-trans"><p>一月以對美元的重新穩定感知結束</p>
</div><p>&#34;Sell America&#34; - A Trading Trend That Took Center Stage This Week</p>
<div class="lb-trans"><p>&#34;賣出美國&#34; - 本週成為焦點的交易趨勢</p>
</div><p>Weekly Strategy Update And ETF Review</p>
<div class="lb-trans"><p>每週策略更新和 ETF 回顧</p>
</div>

輪換和國際輪換成為關注的中心 - 一些值得深思的觀點