I will periodically publish the ETF rankings that are used by my sector model.  The list contains 50 ETFs, with the SPY ETF shaded red as it represents the market.  There are three separate lookback periods that are taken into account to compute the ranking of each individual ETF.  Those that are above SPY are outperforming the market and those below are underperforming.   The rankings also include fixed income and inverse index ETFs.