MFSA is defunct since September 17, 2013. Early Redemption
Oct. 17, 2013, 5:25 AM
- Global equities are mostly lower after Washington approved a deal to finance the U.S. government until January 15 and raise the debt limit so that the country can continue to increase its borrowing until February 7.
- The short-term nature of the agreement has markets wary of another stand-off in another three months or so.
- Japan +0.8%, Hong Kong -0.6%, China -0.2%, India -0.4%.
- EU Stoxx 50 -0.6%, London -0.4%, Paris -0.7%, Frankfurt -0.6%, Milan -0.6%, Madrid -0.3%.
- U.S. Stock futures: Dow -0.4%. S&P -0.25%. Nasdaq -0.1%
- ETFs: ADRA, AIA, VPL, ASDR, AAXJ, AXJS, EPP, GMF, GMFS, AXJL, UXJ, JPX, PAF, ASEA, EEMA, DVYA, EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU, EFA, IEFA, VEA, ADRD, MFLA, EFO, MFSA, EFU, PDN, PIZ, EFZ, PXF, EFG, PFA, EFV, DZK, DPK, IDLV, DTH
Sep. 18, 2013, 5:25 AM
- Global equities are mainly higher as markets await the word from the FOMC later in the day, when the Fed is expected to announce that it's going to start tapering its bond-buying program.
- Japan +1.4%, Hong Kong -0.3%, China +0.3%, India +0.3%.
- EU Stoxx 50 +0.5%, London +0.1%, Paris +0.4%, Frankfurt +0.3%, Milan +0.5%, Madrid +0.8%.
- U.S. futures: Dow +0.1%, S&P +0.1%, Nasdaq +0.3%.
- ETFs: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU, EFA, IEFA, VEA, ADRD, MFLA, EFO, MFSA, EFU, PDN, PIZ, EFZ, PXF, EFG, EFV, DZK, DPK, IDLV, DTH, DWM, URTH, FDTS, ADRA, AIA, VPL, ASDR, AAXJ, AXJS, EPP, GMF, GMFS, AXJL, UXJ, JPX, PAF, ASEA, EEMA, DVYA
Sep. 11, 2013, 3:30 PM
- The Short Enhanced MSCI EAFE ETN's redemption feature was triggered automatically after recent months of rising global market indices.
- MFSA offered 2x inverse exposure to global markets, excluding North America, and performed best at the height of the euro crisis.
- The MSCI EAFE has gained close to 18% in the past year, causing MFSA to tumble and lose over 60% of its value according to a press release.
- Related funds: EFA, IEFA, VEA, DBEF, ADRD, FDT, URTH, FWDI, FNDF, MFLA, EFO, EFU, DZK, DPK, EFZ, PXF, IDHQ, PIZ
Jun. 5, 2013, 11:38 AMThere's another index change at Vanguard, with the firm's Tax-Managed International Fund (VEA) now tracking the FTSE Developed ex-North America Index instead of the MSCI EAFE Index (EFA). Vanguard began its shift away from MSCI last fall, causing a cratering in the shares, but they've retaken all of the lost ground. | Jun. 5, 2013, 11:38 AM | Comment!
Mar. 18, 2013, 8:47 AMWhile the currency-hedged Japan ETF has been the hit of the season, investors exposed more generally to overseas stocks - say through the EFA - also have an ETF to protect against sliding foreign currencies, the DBA ETF Trust (DBEF). The fund provides the exact same exposure as the EFA, but hedges against currency movement. When the dollar shines, so will the fund, +10.6% YTD vs. 5.3% for EFA. | Mar. 18, 2013, 8:47 AM | Comment!
Feb. 12, 2013, 10:46 AMThe Dogs of the Dow system doesn't work that well, according to the Leuthold Group, which instead suggests the "bridesmaid" strategy - buying the previous year's 2nd best performing sector. It would have returned 15% annualized over the past 40 years. 2012's runner-up and 2013's buy: Foreign stocks (EFA). | Feb. 12, 2013, 10:46 AM | 1 Comment
Jan. 7, 2013, 12:18 PMAnother new launch quickly attracting assets is the iShares Core MSCI EAFE ETF (IEFA). With $280M AUM, the fund has an expense ratio of 14 bps vs. 34 bps for the (also iShares) MSCI EAFE ETF (EFA), with $38B AUM. The IEFA holds about triple the number of stocks as the EFA and has returned 7.9% since late-October inception, about 100 bps better than its big brother. | Jan. 7, 2013, 12:18 PM | Comment!
Dec. 21, 2012, 9:57 AMLaunched in October, iShares' Core MSCI EAFE ETF (IEFA) has pulled in more than $200M in AUM. The fund charges just 14 basis points, less than the 34 of its big brother, the EFA. It also holds 2,512 names as opposed to the 912 held by EFA. Scoreboard: IEFA +7.23%, EFA +6.58% since the October 23 inception. | Dec. 21, 2012, 9:57 AM | Comment!
Dec. 13, 2012, 12:04 PMLatin American stocks (ILF) have outperformed much of the developed world for most of the last decade, but that could be about to change. Using EFA as a proxy for developed markets, ex-North America, J.C. Parets sees a huge base and potential bottom formed in the EFA/ILF ratio. Bulls on beaten down spots like Japan and Europe may have reason to cheer in coming years. | Dec. 13, 2012, 12:04 PM | Comment!
Nov. 29, 2012, 1:12 PMThe MSCI EAFE Index (EFA +0.8%) - representing international stocks - continues a 3-month run of outperformance over the S&P 500 in which it's gained nearly 6% while U.S. big caps have been about flat. Now up 12.2% YTD, the EFA has pulled nearly even with the S&P after falling way behind this summer. | Nov. 29, 2012, 1:12 PM | Comment!
Nov. 1, 2012, 11:26 AMLong-term investors looking for international equity exposure might find a better deal in the new sister fund of the MSCI EAFE Index (EFA). The Core MSCI EAFE ETF (IEFA) has a lower annual fee, 0.14% vs. 0.34%, and includes a market-weighting of small caps - EFA and others lop them off. Of course cost is more than the annual fee, and EFA's $37B AUM assures better liquidity for the moment. | Nov. 1, 2012, 11:26 AM | Comment!
Oct. 22, 2012, 4:48 PMBlackRock rolls out four new ETFs for its so-called core series featuring expense ratios under 0.2%. The MSCI EAFE ETF (IEFA) and the MSCI Emerging Markets ETF (IEMG) are notable because they seemingly compete with other iShares offerings - EFA and EEM. The other two are the MSCI Total International Stock ETF (IXUS) and the Core Short-Term U.S. Bond ETF (ISTB). | Oct. 22, 2012, 4:48 PM | Comment!
Oct. 12, 2012, 3:28 PM
Jul. 31, 2012, 1:08 PMThe S&P 500 in July slightly expands its lead over other developed equity markets (as measured by the MSCI EAFE Index). Three hours before month's end, SPY has gained 1.4% vs. 0.3% for EFA. YTD, EFA is up 1.1%, nearly 700 basis points less than SPY. On a Y/Y basis, the S&P has outperformed by a whopping 3700 basis points. | Jul. 31, 2012, 1:08 PM | Comment!
Dec. 15, 2011, 3:59 AMThe economic crisis threatens to increase protectionism, says WTO Director General Pascal Lamy, creating a "vicious circle where crisis erodes the capacity of governance to cooperate well," and thereby makes it more difficult to begin a recovery. "I’m afraid we have to expect difficult times for the world economy at large." | Dec. 15, 2011, 3:59 AM | 1 Comment
Nov. 30, 2010, 4:54 PMToday saw the launch of 17 new exchange traded notes: 11 from iPath offering leveraged and inverse leveraged exposure to major U.S. and international equity indexes, and 6 from new issuer VelocityShares offering multiple ways to access long, short, and leveraged VIX Volatility Index exposure. | Nov. 30, 2010, 4:54 PM | Comment!
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iPath® Short Enhanced MSCI EAFE® Index ETN is linked to a leveraged return on the inverse performance of the MSCI EAFE® Net Total Return Index (the "Index"). The Index is a free float-adjusted market capitalization index that is designed to offer a representation of equity market performance of developed markets in Europe, Australasia and the Far East.. As of October 29, 2010, the Index consisted of the following 22 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.
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