SA News • Tue, Sep. 9
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Tue, Sep. 9, 1:58 PM
- The First Trust Long/Short Equity ETF (NYSEARCA:FTLS) is an actively managed fund that invests in other U.S.-listed equity securities for foreign and domestic firms, including U.S.-listed ETFs that cover domestic and international markets.
- According to prospectus, "the overall portfolio, under normal market conditions, will be 90 to 100% invested in long positions and 0% to 50% invested in short positions."
- FTLS will charge 99 basis points, just 4 more than the largest fund in the long/short space, the Proshares RAFI Long/Short (NYSEARCA:RALS).
- Other long/short ETFs: ALFA, CSM, AGLS, CSLS, LALT
Wed, May. 14, 2:25 PM
- The PowerShares Multi-Strategy Alternative Portfolio (LALT) is expected to launch on May 29th and is supported by a partnership between Invesco and Morgan Stanley.
- As described by Dan Draper, Invesco PowerShares Managing Director of Global ETFs: “One of the primary goals for investors that use alternative strategies is to minimize exposure to equity and bond markets, and to achieve better risk-adjusted returns compared to portfolios consisting only of traditional asset classes. LALT is an actively managed long-short strategy that seeks to provide efficient exposure to a broad mix of alternative-asset classes.”
- Other long-short ETFs: ALFA, CSM, RALS, AGLS, CSLS
Thu, May. 1, 1:09 PM
- The Etracs Fisher-Gartman Risk Off ETF (OFF) and the Etracs Fisher-Gartman Risk On ETF (ONN) will be called for redemption on May 9th after roughly 2.5 years of trading.
- OFF provides inverse exposure to an index of long positions in risk-on instruments and short positions in risk-off instruments; ONN tracks an index with 150% in long positions in securities that gain in a strong market and 50% in short positions expected to fall in a strong market.
- UBS gave no further details on the reason for redemption in the NYSE communique.
- Other long/short ETFs: ALFA, CSM, RALS, AGLS, CSLS
Mon, Mar. 10, 10:07 AM
- To those who remember the risk on/risk off days of 2011 when the entire universe of assets seemingly moved together based on the utterings of some politician here or across the pond, today is quite a different matter. The instances of days in which more than 90% of S&P 500 stocks move together have all but vanished late last year and this year.
- The 65-day average correlation of stocks fell to 0.52% in January vs. an average of 0.63% between 2009 and 2013 (it rose as high as 0.84% late in 2011).
- Investors have responded by moving money into so-called actively managed strategies, with those funds seeing inflows of $1.3B this year on top of $9.8B in 2013. It's a small amount, but contrasts with $360B pulled out of such funds between 2009-2012.
- Related ETFs: GURU, ALFA, CSM, QAI, ONN, OFF, BTAL, MCRO, CHEP, RALS, HDG, QEH, AGLS, CSLS, SIZ, QMN, CSMN
Jun. 11, 2013, 9:41 AMAdvisorShares will be closing its actively managed sector rotation ETF SSAM on 14th June. The fund has failed to generate investor interest, losing more than 6% in the year and a half since it launched. SPY is up 20% over that period. Closure of ETFs and ETNs with unsuccessful strategies sets up the industry for smooth long-term growth. | Comment!
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CSLS vs. ETF Alternatives
The Credit Suisse Long/Short Liquid Index (Net) (the "CS L/S Liquid Index" or the "Index") reflects the return of a dynamic basket of liquid, investable market factors selected and weighted in accordance with an algorithm that aims to track the performance of the Credit Suisse Tremont Long/Short Equity Hedge Fund Index (the "CS Tremont L/S Index") by allocating weights to non-hedge fund, transparent market factors.
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