Etfs that are down

Screening Filters

1. price: { min: 5 }

   • Purpose: Exclude very low‑priced, thin, or potentially erratic ETFs.
   • Rationale:
     • ETFs trading below $5 can behave more like “penny” instruments, with wider spreads and more volatility that isn’t necessarily tied to their underlying index or strategy.
     • By requiring price ≥ $5, the screener focuses on more established, commonly traded ETFs where “down in value” is more likely to reflect meaningful market moves rather than illiquidity or random price jumps.

2. monthly_average_dollar_volume: { min: 100000 }

   • Purpose: Ensure the ETFs are reasonably liquid and actively traded.
   • Rationale:
     • “Dollar volume” is price × volume, averaged over a month. Setting a minimum of $100,000 per day (on average) filters out obscure ETFs that hardly trade.
     • For your goal—finding ETFs that are currently down in value—liquidity matters because:
       • Prices of illiquid ETFs can be stale or distorted.
       • It can be difficult or costly (wide bid–ask spread) to actually buy or sell them.
     • This filter helps keep the results to ETFs where “down” reflects real market sentiment and where you can more practically transact.

3. price_change_pct: { max: -0.0001 }

   • Purpose: Capture ETFs that are currently down over the selected time frame (typically today’s change).
   • Rationale:
     • A maximum of -0.0001 means the percentage price change must be negative (less than roughly 0%).
     • In plain terms: only ETFs whose price has fallen (even slightly) over the chosen period will pass this filter.
     • This is the direct translation of your request: “ETFs that are currently down in value.”

Why Results Match Your Request

• The price change filter ensures you only see ETFs that are currently trading below their previous reference price (e.g., yesterday’s close), i.e., they are “down in value” right now.
• The price and dollar volume filters refine that list to more established and tradeable ETFs, avoiding ultra‑cheap or illiquid products whose price moves may be misleading or hard to act on.