Mon, Jun. 13, 2:27 PM
- Vanguard Total Stock Market ETF (NYSEARCA:VTI) of $0.469. 30-Day Sec yield of 2.00%.
- Vanguard Small-Cap Value ETF (NYSEARCA:VBR) of $0.320. 30-Day Sec yield of 2.04%.
- Vanguard Small-Cap Growth ETF (NYSEARCA:VBK) of $0.359. 30-Day Sec yield of 1.01%.
- Vanguard Mid-Cap ETF (NYSEARCA:VO) of $0.469. 30-Day Sec yield of 1.51%.
- Vanguard Large-Cap ETF (NYSEARCA:VV) of $0.426. 30-Day Sec yield of 2.03%.
- Vanguard Value ETF (NYSEARCA:VTV) of $0.484. 30-Day Sec yield of 2.63%.
- Vanguard Growth ETF (NYSEARCA:VUG) of $0.323. 30-Day Sec yield of 1.40%.
- Payable June 20; for shareholders of record June 16; ex-div June 14. 30-Day SEC yield as of 06/10/2016.
Mon, Mar. 14, 5:08 PM
Dec. 22, 2015, 2:09 PM
Sep. 27, 2015, 8:59 AM
- The $8B iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) fell 4.9% on Friday and 13% for the week - its worst weekly performance since the height of the financial panic seven years ago. Many biotech ETFs eat the same cooking - Gilead (NASDAQ:GILD), Amgen (NASDAQ:AMGN), Biogen (NASDAQ:BIIB), and Regeneron (NASDAQ:REGN) among the popular names - and FBT, XBI, and BBP fell in amounts similar to IBB.
- The news flow was relatively quiet late in the week, but Hilary Clinton's promise Monday to clamp down on drug prices set things in negative motion for the momo sector.
- Barron's Chris Dieterich reminds that a flood of biotech IPOs in recent years has filled the small cap universe with these highly speculative names, and biotech now makes up 7% of the iShares Russell 2000 Index (NYSEARCA:IWM). Indeed. The IWM fell 3.7% for the week, nearly tripling the decline of the S&P 500.
- ETFs: IWM, TZA, TNA, UWM, VB, VBK, URTY, SCHA, TWM, IWO, RWM, SRTY, VTWO, RCG, JKJ, VTWG, TWOK, FYX, JKK, EWRS, ZSML, FYC, SMLL, RYRSX
Sep. 24, 2015, 7:38 AM
Sep. 10, 2015, 12:39 PM
- The CBEO Russell 2000 Volatility Index has dipped to 26.33, while the CBOE Volatility Index (VIXX) has risen to 26.51.
- Pick your reason, but the fact that small caps tend to do more business at home vs. the more multinational large-caps makes for as good of an excuse as any.
- The upshot, however, is of more import: Those itching to buy protection (or play for a bull market), may want to look at what are now relatively cheap options on the IWM rather than on the S&P 500.
- Source: Barron's
- ETFs: IWM, TZA, TNA, UWM, VB, IJR, VBR, SLY, EES, RWJ, VBK, URTY, SCHA, TWM, RVT, RWM, SRTY, VTWO, SAA, JKL, VXX, UVXY, TVIX, XIV, SVXY, VIXY, ZIV, VXZ, VIXM, CVOL, VIIX, XVZ, XXV, XVIX, TVIZ, IVOP, VIIZ, VXUP, VXDN
Aug. 21, 2015, 3:51 PM
- With the Dow, S&P 500, and Nasdaq all down about 3%, the small-cap Russell 2000 (NYSEARCA:IWM) is lower by just 0.75%.
- The outperformance is noteworthy because it's been small caps leading on the way down - falling nearly 11% since a late-June peak, or roughly 500 basis points worse than the S&P 500.
- ETFs: VB, VBR, EES, VBK, SCHA, RVT, JKL, RCG, JKJ, TILT, FYX, FYT, JKK, IESM, VLU, ZSML, FYC
Mar. 24, 2015, 2:09 PM
Dec. 19, 2014, 7:25 AM
Oct. 13, 2014, 1:33 PM
- Electronic Cigarettes International Group, Ltd. (OTCQB:ECIG) is set for its IPO of 33.3M shares of common stock at a prospective price of $4.50 per share. The firm is selling 28,443,133 shares and selling shareholders are offering 4,890,200.
- The company markets and distributes electronic cigarettes and accessories through over 50K outlets in multiple countries.
- Proforma 2013 financials: Revenues: $113.2M; Gross Profit: $55.5M; Operating Expenses: $48.9M; Operating Income: $6.5M; Net Loss: ($11.4M); Loss Per Share: ($0.11).
- Proforma 1H 2014 financials: Revenues: $48.5M; Gross Profit: $26.8M; Operating Expenses: $57.9M; Operating Loss: ($31.1M); Net Loss: ($10.5M); Loss Per Share: (0.08).
- Actual 1H 2014 financials: Revenues: $15.4M (+862.5%); Gross Profit: $8.2M (+780.1%); Operating Expenses: $92.8M (-999%); Operating Loss: ($84.6M); Net Loss: ($84.5M); Loss Per Share: ($1.23); Quick Assets: $5.6M (+166.7%); Cash Burn Ops: ($10.9M) (-999%).
- The company expects Q3 2014 revenues to be $16M - 17M (pro forma net $22.9M - 24.3M).
- ETFs: IWM, TZA, TNA, IWC, UWM, VB, IJR, SLY, RWJ, VBK, URTY, SCHA, TWM, IWO, RWM, IJT, SRTY, SAA, DWAS, VTWO, SLYG, VIOO, SDD, RZG, PZI, SBB, RSCO, FDM, JKJ, UKK, VTWG, VIOG, WMCR, FYX, EWRS, XSLV, TWOK, SKK, JKK, SMLV, PXSG, FYC, PXSC, CSF
- ETFs: IRY, IXJ (IPO -0.5%)
Oct. 1, 2014, 3:52 PM
- Today's decline in the Russell 2000 (IWM -1.4%) puts it more than 10% below the level hit in March (and in July). The index fell 6% in September alone.
- For the year, the Russell is lower by 6.6% after gaining nearly 40% in 2013.
- As rough as it's been, it's the divergence with large caps which looks like the bigger story - while the small caps have fallen 10% during their correction, the S&P 500 is flat, and only in the last two weeks beginning to move in lockstep with the Russell.
- For the year, the S&P 500 is up 5.4%, about 1,200 basis points ahead of the Russell, and on a year-over-year basis, the S&P's 15% gain is 1,500 basis points faster than the Russell.
- ETFs: IWM, TZA, TNA, UWM, VB, VBR, EES, VBK, URTY, SCHA, TWM, IWN, IWO, RWM, SRTY, VTWO, JKL, JKJ, TILT, UKK, VTWG, FYX, FYT, EWRS, TWOK, SKK, VTWV, JKK, UVT, SJH, IESM, VLU, FYC
Jul. 25, 2014, 2:31 PM
- Hammering away at the misconception that it pays to seek active managers in supposedly "less efficient" sectors like small caps, S&P Dow Jones' Philip Murphy finds - even choosing among the top mutual fund share classes - an alarmingly small number of managers failed to beat the benchmarks.
- Starting at the March 2009 bottom and going out five years, only 9 of 139 share classes beat the S&P SmallCap 600 benchmark (that's 5.9% of the starting set).
- Where alpha might be able to be delivered though, is in choosing which benchmark to track. A fund tracking the S&P SmallCap 600 (IJR, VIOO) would have outperformed one tracking the Russell 2000 (NYSEARCA:IWM) by 23% over the 5-year period.
- ETFs: IWM, TZA, IJS, TNA, IWC, UWM, VB, IJR, SLY, VBR, EES, RWJ, VBK, URTY, SCHA, TWM, IWN, IWO, IJT, RWM, SRTY, DWAS, SAA, VTWO, JKL, RZV, SLYG, SLYV, VIOO, SDD, PZI, RZG, FDM, SBB, RSCO, WMCR, VIOG, JKJ, VTWG, UKK, TILT, VIOV, FNDA, XSLV, FYX, FYT, EWRS, JKK, TWOK, SKK, VTWV, PXSV, SMLV, UVT, SJH, IESM, PXSC, VLU, FYC, PXSG
Jun. 6, 2014, 3:03 PM
- This just in: Continuing to bounce from a tough 10-week stretch which saw the index lose about 10% of its value from the start of March, the Russell 2000 (IWM +0.9%) has turned positive for the year.
- The small cap index, however, continues to trail the S&P 500 which is ahead 5.7% YTD, as well as the Nasdaq, which is up 3.4%.
- ETFs: IWM, TZA, TNA, UWM, VB, EES, VBR, VBK, URTY, SCHA, TWM, IWN, IWO, RWM, SRTY, VTWO, JKL, JKJ, UKK, VTWG, TILT, FYX, FYT, SKK, JKK, EWRS, TWOK, VTWV, UVT, SJH, IESM, VLU, FYC
May 20, 2014, 4:37 PM
- Chicago-based Good Harbor Financial is among the largest ETF portfolio managers and the company in May began to rebalance its $11B U.S. Tactical Core Strategy twice a month instead of once - today marks the first mid-month trade for the portfolio, reports the WSJ.
- Good Harbor's main strategy today, says the Journal, looked to be selling small caps as well as two ETFs tied to the S&P 500 (SPY -0.7%), and volume spiked in the iShares Russell 2000 ETF (IWM -1.6%), the ProShares Ultra Russell 2000 (UWM -3%), the iShares Core S&P 500 ETF (IVV -0.7%) and the ProShares Ultra S&P 500 (SSO -1.5%).
- Good Harbors was the largest single holder of three of those funds as of the end of March, and the 2nd largest holder of the fourth.
- As it sold the equity ETFs, Good Harbors appeared to be buying two mid-to-long-dated Treasury bond ETFs, the iShares 7-10 Year Treasury Bond Fund (IEF +0.3%) and the ProShares Ultra 7-10 Year Treasury ETF (UST +0.7%), with both having volumes many multiples higher than normal.
- Good Harbors was also a seller of small caps and a buyer of Treasurys in early May, says the Journal, which earlier this year reported traders growing accustomed to waiting for the firm's monthly rebalance.
- ETFs: IWM, IJS, TZA, TNA, UWM, VB, IJR, SLY, EES, VBR, RWJ, VBK, URTY, SCHA, TWM, IWO, IWN, IJT, RWM, SRTY, DWAS, SAA, VTWO, JKL, RZV, SLYG, SLYV, VIOO, SDD, SBB, RZG, JKJ, RSCO, VTWG, UKK, VIOG, TILT, FYX, FNDA, VIOV, XSLV, FYT, SKK, JKK, EWRS, TWOK, PXSV, VTWV, SMLV, UVT, SJH, PXSC, IESM, FYC, VLU, PXSG
May 10, 2014, 8:25 AM
- Small-cap stocks enjoyed a bit of a bounce yesterday but they've lagged the broader market this year, and Credit Suisse predicts more pain ahead.
- Even though many individual growth stocks have been hit much harder, the Russell 2000 has dropped only ~9% from its early March 2014 peak; average and median pullbacks in the Russell 2000 since the mid-1990s have been a respective 21% and 14%, so Credit Suisse thinks the historical track record points to the Russell approaching 1,000 (vs. its YTD peak of 1,209 and Friday's close of 1,097) before finding a bottom.
- The iShares Russell 2000 ETF (IWM) is down ~5% YTD, with its biggest losers - MLI, MDSO, FNGN, ISIS - all plunging at least 40% so far.
- Meanwhile, the S&P continues to hold up relatively well, and Citigroup’s Tobias Levkovich thinks easier lending standards for bigger companies is an important factor explaining large-cap outperformance; Bespoke sees large-cap stability holding just as much weight as the argument that weakness in momentum names eventually will spill over to the broad market.
- ETFs: IWM, TZA, TNA, UWM, VB, VBK, URTY, SCHA, TWM, IWO, RWM, SRTY, DWAS, VTWO, JKJ, FYX, VTWG, UKK, SKK, EWRS, JKK, TWOK, SMLV, PXSC, FYC, PXSG
May 8, 2014, 3:31 PM
- Making the rounds across trading desks is this chart showing the Russell 2000 (IWM -1%) this week closing below its 200-day moving average for the first time since November 2012.
- BAML's Macneil Curry adds a couple of additional technical ideas, noting Tuesdays this year have typically been positive, but not this week, and the Russell 2000 looks to be completing a 4-month head-and-shoulders top.
- The small cap index is now off 5.3% YTD vs. a 1.6% gain for the S&P 500. It's also now fallen below the S&P on a Y/Y basis, up 13.3% vs. the big cap's 14.9% gain.
- ETFs: IWM, IJS, TZA, TNA, UWM, VB, IJR, SLY, EES, VBR, RWJ, VBK, URTY, SCHA, TWM, IWO, IWN, IJT, RWM, SRTY, DWAS, SAA, VTWO, JKL, RZV, SLYG, SLYV, VIOO, SDD, RZG, SBB, RSCO, JKJ, VTWG, FYX, UKK, TILT, VIOG, FNDA, XSLV, VIOV, FYT, SKK, EWRS, JKK, TWOK, PXSV, VTWV, UVT, SMLV, SJH, IESM, VLU, PXSC, FYC, PXSG
Vanguard Small-Cap Growth ETF seeks to track the performance of a benchmark index that measures the investment return of small-capitalization growth stocks. Investment approach: Seeks to track the performance of the CRSP US Small Cap Growth Index. Small-cap growth equity. Employs a passively managed, full-replication strategy. The fund remains fully invested. Low expenses minimize net tracking error.
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