Tue, Jul. 12, 11:44 AM
- That the valuations on these popular names are stretched isn't new news, but, putting numbers on it, JPMorgan's Dubravko Lakos-Bujas says prices are 30% above levels justified by profitability, and 10% above fair value based dividend growth.
- This can be resolved in one of two ways, he says: Either momentum stocks snap back, causing low-vol to lag, or the whole market turns lower. Either way, investors in USMV or SPLV, to name two, should take caution.
- Low-vol ETFs: SPLV, USMV, HDLV, XMLV, XSLV, SMLV, LGLV, CFA, CDC, CFO, XRLV, LVHD, CSF, OVLC, ONEV
Fri, Jun. 17, 7:37 PM
- SPDR S&P Health Care Equipment ETF (NYSEARCA:XHE) $0.0325. 30-Day Sec yield of 0.11%.
- SPDR Russell 1000 Low Vol ETF (NYSEARCA:LGLV) $0.5091. 30-Day Sec yield of 2.51%.
- SPDR S&P 1500 Momentum Tilt ETF (NYSEARCA:MMTM) $0.4326. 30-Day Sec yield of 1.90%.
- SPDR S &P 1500 Value Tilt ETF (NYSEARCA:VLU) $0.4613. 30-Day Sec yield of 2.30%.
- SPDR S&P 500 High Dividend ETF (NYSEARCA:SPYD) $0.3256. 30-Day Sec yield of 3.97%.
- SPDR S&P 500 Fossil Fuel Free ETF (SPYX) $0.2410. 30-Day Sec yield of 1.88%.
- SPDR Russell 1000 Momentum Focus ETF (NYSEARCA:ONEO) $0.2493. 30-Day Sec yield of 1.58%.
- SPDR Russell 1000 Low Volatility Focus ETF (NYSEARCA:ONEV) $0.3071. 30-Day Sec yield of 1.94%.
- SPDR Russell 1000 Yield Focus ETF (NYSEARCA:ONEY) $0.4768. 30-Day Sec yield of 3.13%.
- SPDR SSGA Gender Diversity Index ETF (NYSEARCA:SHE) $0.2782.
- Payable June 27; for shareholders of record June 21; ex-div June 17. 30-Day Sec yield as on 6/16/16.
Fri, Mar. 18, 3:38 PM
- SPDR S&P Transportation ETF (NYSEARCA:XTN) - quarterly distribution of $0.0804. 30-Day Sec yield of 0.74% (as of 3/16/2016).
- SPDR S&P Health Care Equipment ETF (NYSEARCA:XHE) - quarterly distribution of $0.0107. 30-Day Sec yield of 0.37% (as of 3/16/2016).
- SPDR Russell 1000 Low Vol ETF (NYSEARCA:LGLV) - quarterly distribution of $0.3917. 30-Day Sec yield of 2.51% (as of 3/16/2016).
- SPDR S&P 1500 Momentum Tilt ETF (NYSEARCA:MMTM) - quarterly distribution of $0.3675. 30-Day Sec yield of 1.75% (as of 3/16/2016).
- SPDR S &P 1500 Value Tilt ETF (NYSEARCA:VLU) - quarterly distribution of $0.4496. 30-Day Sec yield of 2.38% (as of 3/16/2016).
- SPDR S&P 500 High Dividend ETF (NYSEARCA:SPYD) - quarterly distribution of $0.2772. 30-Day Sec yield of 4.15% (as of 3/16/2016).
- SPDR S&P 500 Fossil Fuel Free ETF (SPYX) - quarterly distribution of $0.2381. 30-Day Sec yield of 1.88% (as of 3/16/2016).
- SPDR Russell 1000 Momentum Focus ETF (NYSEARCA:ONEO) - quarterly distribution of $0.2556.
- SPDR Russell 1000 Low Volatility Focus ETF (NYSEARCA:ONEV) - quarterly distribution of $0.3144.
- SPDR Russell 1000 Yield Focus ETF (NYSEARCA:ONEY) - quarterly distribution of $0.4792.
- SPDR SSGA Gender Diversity Index ETF (SHE) - quarterly distribution of $0.0731.
- All are payable Mar. 29; for shareholders of record Mar. 22; ex-div Mar. 18.
Thu, Mar. 10, 3:26 PM
- The iShares MSCI USA Minimum Volatility ETF (NYSEARCA:USMV) is this year's most popular stock ETF, garnering $2.8B of inflows.
- “A lot of people don’t believe in the rally,” says Pravit Chintawongvanich, from Macro Risk Advisors. "Lw volatility stocks are going to be things like utilities, consumer staples, telecoms, real estate investment trusts -- sectors that have outperformed."
- Checking the scorecard, USMV is higher by 1.8% this year, outperforming the S&P 500 410 basis points. On a year-over-year basis, USMV is doing better by about 760 basis points.
- Low-vol ETFs: SPLV, USMV, HDLV, XSLV, XMLV, SMLV, LGLV, CFA, CFO, CDC, CSF, LVHD
Wed, Jan. 13, 5:06 AM
- The SocGen strategist says the West is about to be hit by a wave of deflation from emerging market economies and that central banks were unaware of the disaster about to hit them.
- “I realize most people think I am talking utter garbage but I’m used to that. And maybe I am! But the truth will come out in the next recession which may be pretty close now,” Edwards says.
- “The previous bear market low was in March 2009 when the S&P reached 666. I think we’ll go below that within this bear market.
- “Developments in the global economy will push the U.S. back into recession. The financial crisis will reawaken. It will be every bit as bad as in 2008-09 and it will turn very ugly indeed.
- “Emerging market currencies are still in freefall. The U.S. corporate sector is being crushed by the appreciation of the dollar.
- He says the U.S. economy is in far worse shape than the Fed realizes: “We have seen massive credit expansion in the U.S. This is not for real economic activity; it is borrowing to finance share buybacks.”
- Edwards attacked the “incredible conceit” of central bankers, who had failed to learn the lessons of the housing bubble that led to the financial crisis and slump of 2008-09. “They didn’t understand the system then and they don’t understand how they are screwing up again. Deflation is upon us and the central banks can’t see it.”
- Note: Edwards's "Ice Age" thesis goes back to Aug. 2008, and was reiterated in Dec. 2009, Sept. 2011, and May 2012.
- ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, PSQ, SPXU, TQQQ, SPXL, SPLV, RSP, SPXS, QID, PRF, SQQQ, QLD, CRF, DOG, DXD, RWL, UDOW, EPS, SDOW, VV, USA, SCHX, DDM, VFINX, IWB, OEF, ZF, SPHB, MGC, SPHQ, BXUB, QQEW, FEX, QQQE, VONE, XLG, JKD, EEH, SPLX, SFLA, BXUC, EQL, QQXT, ROLA, IWL, SPUU, ONEK, EQWL, EWRI, LGLV, ERW, EQAL, FWDD, FMK, ZLRG
Mon, Jan. 11, 4:38 AM
- JPM strategists note that earnings expectations have been managed aggressively going into earnings season. Four months ago, the "hurdle rate" for S&P 500 stocks was +5% Y/Y; now it's -4% Y/Y. “If this were to materialize, it would be the weakest quarter for EPS delivery so far in the upcycle.”
- Energy sector earnings consensus signals only single-digit losses, while oil prices are 36% below the 21015 average.
- Sees euro-zone earnings outperforming U.S. for second year running.
- Overall, firm says risk/reward for stocks is poor. Use bounces as selling opportunities.
- ETFs: SPY, QQQ, DIA, SH, XLE, SSO, SDS, VOO, IVV, VDE, UPRO, PSQ, SPXU, ERX, TQQQ, OIH, SPXL, SPLV, XOP, RSP, SPXS, QID, PRF, SQQQ, ERY, FCG, QLD, CRF, DOG, DIG, GASL, DXD, PBW, RWL, UDOW, EPS, DUG, SDOW, BGR, XES, IYE, VV, USA, IEO, SCHX, DDM, VFINX, IEZ, QCLN, FENY, PXE, IWB, OEF, PXI, ZF, FIF, PXJ, SPHB, MGC, SPHQ, PSCE, BXUB, NDP, RYE, QQEW, FEX, QQQE, VONE, XLG, JKD, FXN, EEH, SPLX, PUW, SFLA, BXUC, EQL, QQXT, DDG, ROLA, IWL, SPUU, ONEK, HECO, EQWL, EWRI, LGLV, ERW, FWDD, EQAL, ZLRG, FMK, CFA, SYE, CFO, LLSP, UDPIX, SBUS, USWD, USSD, DRIP, GUSH, OTPIX, QUS, RYARX, GSLC
Dec. 18, 2015, 5:59 PM
Sep. 18, 2015, 4:02 PM
Jun. 19, 2015, 4:03 PM
Apr. 9, 2015, 1:33 PM
- The PowerShares S&P 500 ex-Rate Sensitive Low Volatility Portfolio (NYSEMKT:XRLV) takes the 100 stocks from the S&P 500 that feature low-volatility and are not sensitivity to interest rate changes.
- This fund takes the established theme of the PowerShares S&P 500 Low Volatility Portfolio (NYSEARCA:SPLV) to another level by including interest rate sensitivity as a requirement.
- Other low volatility ETFs: LGLV, CFO, CFA
Apr. 9, 2015, 9:16 AM
- Volatility in the PowerShares S&P 500 Low Volatility ETF (NYSEARCA:SPLV) has been higher than the S&P 500 each day since Feb. 27, according to Bloomberg, with the gap peaking at 244 basis points on March 18 - the widest since the ETF opened for business in 2011.
- “There’s no guarantee that the name of an ETF, the label, means it’s going to perform the way it’s advertised,” says Morningstar's Michael Rawson. “Investors need to know there’s no magic formula.”
- The SPLV holds the 100 stocks in the S&P 500 which have fluctuated the least over the prior 12 months. One reason for the high volatility of late, says Rawson, could be energy stocks - the SPLV owns none vs. the S&P's 8.24% weighting, and volatility in the energy names tumbled lower in March.
- Other low vol ETFs: SPLV, USMV, HDLV, XSLV, XMLV, SMLV, LGLV, CDC, CFO, CFA, CSF
Mar. 20, 2015, 2:06 PM
Feb. 3, 2015, 12:35 PM
- Among those cut is the SPDR Barclays Capital Aggregate Bond (NYSEARCA:LAG), which now charges 0.1% per year, down from 0.21%, and making it more competitive with AGG and BND.
- SSgA's (NYSE:STT) ten international ETFs - a group including IPD, IPW, and IPK - now have annual fees of 0.4% vs. 0.5% previously. The emerging markets ETFs' - including EDIV and GML - new expense ratios are 0.49%, down from 0.50-0.59% previously.
- Some of the fee reductions are more dramatic: The SPDR 1500 Value Tilt ETF (NYSEARCA:VLU) and the SPDR S&P 1500 Momentum Tilt ETF (NYSEARCA:MMTM) are cut to 0.12% from 0.35%, and the SPDR Russell 2000 Low Volatility ETF (NYSEARCA:SMLV) is cut to 0.12% from 0.25%.
- Others with cuts: ITE, SST, TLO, ITR, LGLV, LWC, SCPB, IPE, MOYG, MOYV, SLY, SLYG, SLYV, SPYG, SPVV, JPP, JSC, MTK, GWX, IPF, IPN, PS, IPU, IRV, IRY, IST, BIK, EEMB, GAF, GMF, GML, GUR, IBND.
Dec. 19, 2014, 2:03 PM
Aug. 22, 2014, 5:58 AM
- London Stock Exchange (OTCPK:LDNXF) has announced that it is looking to raise £938M ($1.6B) to part fund the acquisition of stock index unit Frank Russell.
- LSE will offer 74,347,813 new shares at a price of 1,295 pence, a 30.1% percent discount to yesterday's closing price.
- The deal would give London Stock Exchange third place in the booming ETF market, behind market leaders S&P Dow Jones and MSCI.
- Russell ETFs: IWM, TZA, TNA, UWM, SPXS, IWF, SKF, URTY, IWD, TWM, IWO, IWN, RWM, SRTY, IWV, IWB, VTWO, VONE, IWW, IWZ, VTWG, UKK, ROLA, RTLA, FBG, THRK, UKF, SKK, EWRS, ONEK, TWOK, VTHR, VONG, VTWV, SMLV, UVT, VONV, UVG, EWRI, SJH, UWC, LGLV, TWQ, SJF, FIBG
Jul. 31, 2014, 11:04 AM
- The Compass EMP U.S. Discovery 500 Enhanced Volatility Weighted Fund (Pending:CSF) will include only companies with consistent positive earnings (at least its 4 most recent quarters) and is weighted based on the volatility of each stock.
- According to a regulatory filing, stocks with lower volatility receive a higher weighting, while stocks with higher volatility will receive a lower weighting in the fund.
- Earlier this month, Compass EMP launched its first three ETFs, all of which feature a volatility-targeting strategy and fall into the trendy "smart beta” umbrella.
- U.S. ETFs with a focus on volatility management: SPLV, USMV, XMLV, XSLV, SMLV, LGLV, CFA, CFO, CDC, CFA, CFO
The SPDR Russell 1000® Low Volatility ETF (the "Fund") seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the performance of the U.S. large capitalization low volatility market.
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