LC Pairwise Ranking Dashboard

#1 Ranked

USO

Crude Oil ETF

Top Score

100.0%

79/79 wins

Top Riser

ICLN

+43 places

Top Bucket

Commodities

72.2% avg

Run Date

11 Sep 2026

weekly close

All 80 ETFs — pairwise momentum rank

# ↕	Ticker ↕	Bucket ↕	Score % ↕	Raw/79 ↕	Δ Score ↕	Rank Chg ↕	Prev Rank ↕	Name ↕

Price performance — indexed to 100

Daily closes · 12 Mar → 11 Sep

Weekly pairwise score %

% of ratio-vs-8W-MA matchups won each week vs all 79 ETFs

Bucket Average Relative Strength

50% = neutral vs full universe. Higher = winning more cross-asset matchups.

Commodities

72.2% -7.6pp

Intl Developed

55.7% -5.9pp

Intl EM

54.9% -11.5pp

Fixed Inc / FX

45.2% +13.2pp

US Sectors

38.4% -2.0pp

US Subsectors

31.0% +4.7pp

Weekly Trend

Regime Commentary

Commodities — 72.2% (-7.6pp)

Leaders: USO #1(100.0%); XOP #3(97.5%); OIH #7(92.4%).
Laggards: UNL #63(21.5%); PALL #64(20.3%).

Intl Developed — 55.7% (-5.9pp)

Leaders: EWT #4(96.2%); EWJ #9(89.9%); EWS #19(77.2%).
Laggards: VGK #54(32.9%); EWQ #72(10.1%).

Intl EM — 54.9% (-11.5pp)

Leaders: EWY #2(98.7%); EWZ #5(94.9%); EZA #8(91.1%).
Laggards: FXI #69(13.9%); MCHI #73(8.9%).

Fixed Inc / FX — 45.2% (+13.2pp)

Leaders: JAAA #26(68.4%); JBBB #27(67.1%); SGOV #28(65.8%).
Laggards: TLT #59(26.6%); MUB #62(22.8%).

US Sectors — 38.4% (-2.0pp)

Leaders: XLE #6(93.7%); XLK #14(83.5%); XLC #20(75.9%).
Laggards: XLU #75(6.3%); XLI #77(3.8%).

US Subsectors — 31.0% (+4.7pp)

Leaders: IGV #18(78.5%); SMH #24(70.9%); ICLN #30(63.3%).
Laggards: ITB #79(1.3%); ITA #80(0.0%).

Cross-Bucket Win Rate Matrix

% of matchups won by row vs column. Above 50% = row outperforming.

↓ vs →	US Sectors	US Subsectors	Commodities	Intl Developed	Intl EM	Fixed Inc / FX
US Sectors	—	61%	21%	33%	32%	40%
US Subsectors	38%	—	11%	29%	26%	35%
Commodities	79%	88%	—	69%	61%	81%
Intl Developed	67%	71%	30%	—	52%	64%
Intl EM	67%	74%	39%	48%	—	54%
Fixed Inc / FX	60%	65%	18%	35%	46%	—

Top 5 per Bucket

US Sectors — 38.4%

#6 XLE +4 93.7%

#14 XLK +11 83.5%

#20 XLC +15 75.9%

#32 XLF +1 60.8%

#46 XLV -24 43.0%

US Subsectors — 31.0%

#18 IGV -4 78.5%

#24 SMH +36 70.9%

#30 ICLN +43 63.3%

#34 CIBR +16 58.2%

#42 XBI -23 48.1%

Commodities — 72.2%

#1 USO 100.0%

#3 XOP +1 97.5%

#7 OIH +2 92.4%

#10 COPX -5 88.6%

#11 PPLT +2 87.3%

Intl Developed — 55.7%

#4 EWT -1 96.2%

#9 EWJ +12 89.9%

#19 EWS -1 77.2%

#25 EWP +2 69.6%

#31 EWI +20 62.0%

Intl EM — 54.9%

#2 EWY 98.7%

#5 EWZ +6 94.9%

#8 EZA -1 91.1%

#13 UAE +27 84.8%

#22 KSA +6 73.4%

Fixed Inc / FX — 45.2%

#26 JAAA +17 68.4%

#27 JBBB +14 67.1%

#28 SGOV +17 65.8%

#29 BIL +17 64.6%

#33 UUP +33 59.5%

⬆ Biggest Risers — rank gain vs prior week

#30 ICLN Clean Energy +43 63.3%

#24 SMH Semiconductors +36 70.9%

#33 UUP US Dollar +33 59.5%

#13 UAE UAE +27 84.8%

#31 EWI Italy +20 62.0%

#26 JAAA CLO AAA +17 68.4%

#28 SGOV 0-3M T-Bills +17 65.8%

#29 BIL 1-3M T-Bills +17 64.6%

#34 CIBR Cybersecurity +16 58.2%

#43 IAGG Intl Aggregate +16 46.8%

⬇ Biggest Fallers — rank drop vs prior week

#64 PALL Palladium -49 20.3%

#69 FXI China (FXI) -39 13.9%

#73 MCHI China (MCHI) -29 8.9%

#52 EWH Hong Kong -28 35.4%

#60 ECH Chile -28 25.3%

#66 XLB Materials -28 17.7%

#40 NLR Nuclear Energy -24 50.6%

#46 XLV Health Care -24 43.0%

#42 XBI Biotech -23 48.1%

#61 INDA India -22 24.1%

🥇 Top 10 Overall

#1 USO Crude Oil ETF 100.0%

#2 EWY South Korea 98.7%

#3 XOP Oil & Gas E&P 97.5%

#4 EWT Taiwan 96.2%

#5 EWZ Brazil 94.9%

#6 XLE Energy 93.7%

#7 OIH Oil Services 92.4%

#8 EZA South Africa 91.1%

#9 EWJ Japan 89.9%

#10 COPX Copper Miners 88.6%

🔴 Bottom 10 Overall

#71 XLY Consumer Discret. 11.4%

#72 EWQ France 10.1%

#73 MCHI China (MCHI) 8.9%

#74 XLRE Real Estate 7.6%

#75 XLU Utilities 6.3%

#76 XRT Retail 5.1%

#77 XLI Industrials 3.8%

#78 JETS Airlines 2.5%

#79 ITB Homebuilders 1.3%

#80 ITA Aerospace & Def. 0.0%

Macro Regime — 11 Sep 2026 · Auto-generated from pairwise data · Internal use only.

⛽ Commodities Leads — 72.2% Average

Commodities leads the 80-ETF universe at 72.2% (-7.6pp vs prior week). Equities outpacing FI/FX—Commodities (72.2%) leads Fixed Inc (45.2%). Risk-on signal. Weakest bucket: US Subsectors at 31.0%.

📈 Fixed Inc / FX Surges +13.2pp — Biggest Bucket Move

Fixed Inc / FX moved +13.2pp to 45.2% this week. At the other end, Intl EM fell 11.5pp to 54.9%.

⬆ Biggest Risers — ICLN +43 Places

ICLN +43 to #30(63.3%), SMH +36 to #24(70.9%), UUP +33 to #33(59.5%), UAE +27 to #13(84.8%).

🏆 Top of Universe — USO #1 at 100.0%

USO (Crude Oil ETF) holds #1 with 100.0% pairwise win rate—near-perfect, winning almost every cross-asset matchup. Bottom: ITA (0.0%) losing most matchups.

📋 Positioning Reads

Conviction longs (20): USO · EWY · XOP · EWT · EWZ · XLE · OIH · EZA · EWJ · COPX · PPLT · WEAT · UAE · XLK.

Underweight / avoid (20): INDA · MUB · UNL · PALL · XLP · XLB · KBE · KRE · FXI · KIE · XLY · EWQ.

Near neutral (watch): HYG · EWU · EWC · NLR · CPER · XBI · IAGG · EWG — at the cross-asset inflection point.

Internal use only. Not investment advice. Compliance/Investments review recommended before client-facing use.

LC Pairwise Ranking · 80 ETFs · 3,160 pairs · 8-week MA · 11 Sep 2026