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
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
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
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
Jul. 1, 2014, 12:40 PM
- Traditionally a mutual fund issuer, Compass EMP is striking out into the ETF industry with the creation of 3 smart beta funds, each tracking an index made by Compass EMP.
- The Compass EMP U.S. EQ Income 100 Enhanced Volatility Weighted Fund (CDC), Compass EMP U.S. 500 Volatility Weighted Index ETF (CFA), and Compass EMP U.S. 500 Enhanced Volatility Weighted Index ETF (CFO) will all begin trading on July 2nd.
- These funds all feature a focus on volatility management and will charge an expense ratio between 58 and 68 basis points.
- U.S. ETFs with a focus on volatility: SPLV, LGLV, USMV, VQT, PHDG, XSLV, SPXH, XMLV, SMLV, ERW, VIXH
Jun. 4, 2014, 12:49 PM
- The iShares MSCI ex-Japan Minimum Volatility ETF (AXJV), the iShares MSCI Europe Minimum Volatility ETF (EUMV), and the iShares MSCI Japan Minimum Volatility ETF (JPMV) will launch on June 5th .
- The three new offerings will offer "min vol" fans global exposure and join BlackRock's existing minimum volatility offering, the USA Minimum Volatility ETF (USMV).
- Other low volatility ETFs: SPLV, EEMV, USMV, EFAV, HILO, ACWV, EELV, IDLV, XSLV, XMLV, SMLV, LGLV
Jun. 3, 2014, 3:23 PM
- The three new offerings will offer "min vol" fans global exposure with the iShares MSCI ex-Japan Minimum Volatility ETF, the iShares MSCI Europe Minimum Volatility ETF, and the iShares MSCI Japan Minimum Volatility ETF.
- BlackRock's existing minimum volatility offerings include the USA Minimum Volatility ETF (USMV).
- ETFs: SPLV, USMV, EFAV, ACWV, IDLV, XSLV, XMLV, SMLV, LGLV
May 16, 2014, 10:57 AM
- Barely in the green for the year at the moment, the S&P 500 could slide 10% between now and October, says the technician, but there's a stealth bear market already happening in the Nasdaq, S&P Mid-Cap, and Russell 2000, and when support breaks (less than another 2%), those indices could see 20-25% declines.
- The situation reminds him of 1994 when the Dow and S&P were in a trading range all year, but things were falling apart underneath the surface.
- Following the washout into October, though, Acampora sees a "very, very strong Q4."
- Nasdaq ETFs: QQQ, PSQ, TQQQ, QID, SQQQ, QLD, QQEW, QQQE, QQXT, TNDQ
- Mid-cap ETFs: MDY, MVV, IJH, VO, EZM, MIDU, RWK, UMDD, IWR, SCHM, DIM, IVOO, MIDZ, MZZ, CZA, FNX, JKG, SMDD, XMLV, MYY, TRNM, EWRM, PXMC
- Russell 2000 ETFs: IWM, TZA, TNA, UWM, URTY, TWM, RWM, SRTY, VTWO, EWRS, TWOK, SMLV
Feb. 21, 2013, 4:26 PMState Street rolls out 2 low-volatility ETFs: SPDR Russell 1000 Low Volatility (LGLV) and SPDR Russell 2000 Low Volatility (SMLV). SMLV has an expense ratio of 0.25% while LGLV is the cheapest among peers at 0.20%. Competitors SPLV, IDLV, XMLV and XSLV charge 0.25% while EELV charges 0.29%. Demand for low volatility ETFs has picked up due to recent risk-adjusted outperformance vs. standard market cap weighted funds. | Feb. 21, 2013, 4:26 PM
Feb. 15, 2013, 3:41 AMPowerShares expands its Low Volatility ETF suite with 2 new ETFs: S&P MidCap Low Volatility (XMLV) and S&P SmallCap Low Volatility (XSLV). The ETFs come with a 0.25% expense ratios, in line with counterpart IDLV (0.25%) and SPLV (0.25%), and slightly less than EELV (0.29%). Over the recent 1-year period, SPLV returned 16.36%, 68 basis points better than SPY, with an SD of just 8.6% vs. 12.8% for SPY. (pdf) | Feb. 15, 2013, 3:41 AM | 1 Comment
The PowerShares S&P MidCap Low Volatility Portfolio (Fund) is based on the S&P MidCap 400 Low Volatility Index (Index). The Fund generally will invest at least 90% of its total assets in common stocks that comprise the Index. The Index is compiled, maintained and calculated by Standard & Poor's, consisting of 80 out of 400 medium-capitalization range securities from the S&P MidCap 400 Index with the lowest realized volatility over the past 12 months. Volatility is a statistical measurement of the magnitude of up and down asset price fluctuations over time. The Fund is rebalanced and reconstituted quarterly.
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