• The best sector across ADRs is utilities.
• The top countries are Canada, Brazil, and Mexico.

The average score across our universe of ADRs is 48.97 and the four and eight week moving average score is 48.55 and 47.62, respectively. The average ADR in our coverage is trading -24.1% below its 52 week high, 2.83% above its 200 dma, has 3.71 days to cover held short, and is expected to grow EPS by 13.9% next year.

The following are the top and bottom scoring ADRs in our universe.

Utilities (SBS, ELP, CPL) and basic materials (BP, SNP, CEO, BASFY, ECA, SUBCY, SID, REPYY) score above the ADR universe average score. Technology scores in line. Healthcare, services, financials, industrials, and consumer score below average. In low scoring sectors, concentrate on the strongest zones, regions, and countries (see further below).

The best zones are North America (BCE, TU, ECA) and Latin America (SBS, ASR, BAP, ELP, TEO, UGP, OMAB, CIB). North America, Latin America, and UK/Ireland (GWPH, BP, BTI, AMRN, PSO) are the best regions to buy. Canada (BCE, TU, ECA, RY, BMO), Brazil (SBS, ELP, UGP, SID, CPL, PBR), Mexico (ASR, OMAB, PAC), United Kingdom, and Chile (AKOB) are the highest scoring countries. Overweight them in portfolios.