PowerShares Dynamic Large Cap Growth (PWB)

All Comments on PWB

  • commenter
    2houndz
    Aug 25 09:34 PM
    Market Rewind: Commodities Roar Back [view article]
    Key phrase here is 'roller coaster'. Man, what a bad trip these commodities have been lately. I thought I understood this sector. Reply
  • commenter
    Indexor
    Jul 12 10:58 AM
    Fees and ETFs: Will Vanguard Become the Dominant Player? [view article]
    I have a few problems with Vanguard. Their advisor website for ETFs took an excellent initial model and destroyed it. It appears they have regressed from an era of Vista/XP backward toward DOS. And the only response to the the question of "who is the genius behind the curtain making such changes" results in politically correct dribble.

    Second, being a mutual fund company, Vanguard somehow received a "patent" on the process for issuing an ETF share class of an existing mutual fund. Therefore, if other mutual fund providers realize they can capitalize on the shift to a better product for their consumer without cannibalizing their existing business, they have to pay Vanguard to be able to do so??? How could such a patent even be approved?

    And where was the SEC in approving Vanguard's ability to even apply for such a patent? No wonder Bernanke wants Christopher "do nothing" Cox to relinquish his seldom used authority to the Fed. One of the other mutual fund families should get a similarly stupid "patent" for issuing "no-load mutual funds" and begin charging Vanguard fees for issuing no-load funds. Wouldn't that simply make Vanguard's expense ratios "more competitively priced" with others in the industry (uttered tongue-in-cheek).

    Vanguard has sadly grown into another arrogant, unresponsive corporation (tried their "support" line lately?) who's mission is to dominate the mutual fund/ETF space based upon expense ratios alone. I prefer not to deal with such a commodity-based approach and have returned to iShares, SSgA and a few others for a broader product line, more helpful websites and better trained support staff. I believe a few other advisors will choose not to become "Bogleheads" as well, which just may keep them from becoming "the dominant player" in the ETF space.

    I wonder if I can get a patent on breathing air....     Reply
  • commenter
    ETF Wanderer
    May 13 12:23 PM
    My Website
    Exchange-Traded Funds and Closed-End Funds by Asset Class, Type and Provider [view article]
    can you please update this list? thanks. Reply
  • commenter
    Ames
    Tiedeman
    Apr 27 05:20 PM
    My Website
    ETF Fund Revenues: A View from the Bottom [view article]
    Nice data! Thanks! Reply
  • commenter
    SeekingAlpha
    Editors
    Apr 06 05:17 AM
    My Website
    General Discussion on PWB
    Is this a buy or a sell? Reply
  • commenter
    Reinko
    Feb 01 07:17 PM
    January in Review: All the King's Men [view article]
    I do not understand why this article should have the title 'All the king's men'. It is just like a weather report and adds nothing to what everybody already knows. Reply
  • commenter
    Internet2k4
    Jan 24 09:53 PM
    Will 2008 Be the Year of the Quant ETF? [view article]
    I noticed that several notable quant commentators in Seeking Alpha went silent last fall, and couldn't help suspecting that their software hadn't handled the current situation very well. For me, the big development in 2007 was not bond ETFs but the release of double-long / short products that are not perfect but do in fact significantly "juice" index exposure, limit downside risk, pay interest, have reasonable expense ratios given the price movement, and give those of us not glued to monitors a standing hedge against falling markets. My guess is there is a very good strategy to adjust double-short ETF exposure based on the VIX volatility trend, but I'll have to keep a damp thumb in the wind and wait for somebody smarter to figure it out. Reply
  • commenter
    gperk
    Jan 05 07:20 AM
    Better ETF Performance From Funds Based on Proprietary Index Methodologies? [view article]
    Thanks for the interesting article.
    It would be good to have a results table as well as the commentary: Eight funds, three time frames, it is really a bit much.
    Since the results are so inconclusive, it would probably be more meaningful to to look at longer time frames     Reply
  • commenter
    Fred S
    Dec 29 12:00 PM
    Sharpe Ratios on 2007 ETF Returns [view article]
    The line is supposed to slope that way (greater risk - greater return), so I'm not surprised larger amounts of data would support it. These small data sets allow one to get whatever result is desired, which is very nice if you want to "prove" something. :-) Thanks for the clarification on larger data sets, and Happy New Year. Reply
  • commenter
    NO DooDahs
    Dec 28 04:05 PM
    My Website
    Sharpe Ratios on 2007 ETF Returns [view article]
    Interesting. I've never looked at Sharpe or Sortinos on sub-annual timeframes by taking annual return data for year-ending on each point. Is this an industry norm of some sort, or are you innovating here?

    When I've looked at ratios on shorter timeframes, I've taken the returns and standard deviations on that timeframe (daily, weekly, monthly, whatever) and calculated the ratios on that data. Of course, when doing it that way, it doesn't translate to an annualized ratio and one has to be consistent in making sure that statistics are only compared to the proper timeframes.

    Speaking of translating, what is the correlation between daily year-ending return data Sharpes and non-overlapping year-period Sharpes? It would be interesting to see if what you've done translates to the larger scale.

    Perhaps when you're bored over the holidays, you could some of the longer-running sector ETFs with 7-year Sharpes done both ways:

    * 7 data points of non-overlapping years

    * 7 x 252 data points of year-ending daily returns

    ... and see if they're consistent with each other. Purely academic, because as discussed previously, I'm not a huge fan of the Sharpes, Sortinos, Alphas, Betas.
    Reply
  • commenter
    NO DooDahs
    Dec 28 03:04 PM
    My Website
    Sharpe Ratios on 2007 ETF Returns [view article]
    When you say "annualized daily data" – what exactly do you mean? How many data points of return are evaluated for each ETF, and how many are used in the calculation of standard deviation?

    I am GUESSING that you have 250-ish data points, each one being a return for the year period ending on each trading day of 2007, with the 3% RF being used for each point. Is that correct?

    Persistence of the relationships is indeed the key.

    Is your larger dataset also composed of industry (or other) ETFs? I would be curious about the relationship between return and volatility for the universe of exchange-traded stocks, but that would just be academic and not functional curiousity.
    Reply
  • commenter
    jgpietsch@gm
    ail.com
    Dec 28 02:08 PM
    Sharpe Ratios on 2007 ETF Returns [view article]
    Hi Fred, you comment on the slope of the data set is correct! However, I have performed the same analysis on a larger data set and found the same thing. So the shown regression result is indeed rubbish per se, but the point of the finding will hold to further scrutiny. Happy New Year, Gang! Reply
  • commenter
    Fred S
    Dec 28 01:04 PM
    Sharpe Ratios on 2007 ETF Returns [view article]
    The slope is meaningless for this small data set because the single XLM outlier exerts so much leverage. Drop that one point and the line has the opposite slope.

    For this data the regression line is misleading noise that should either be omitted, or calculated with a more robust means that isn't subject to outlier distortions.     Reply
  • commenter
    Fred S
    Dec 28 01:04 PM
    Sharpe Ratios on 2007 ETF Returns [view article]
    The slope is meaningless for this small data set because the single XLM outlier exerts so much leverage. Drop that one point and the line has the opposite slope.

    For this data the regression line is misleading noise that should either be omitted, or calculated with a more robust means that isn't subject to outlier distortions.     Reply
  • commenter
    JFD
    Dec 28 10:29 AM
    Sharpe Ratios on 2007 ETF Returns [view article]
    Excellent analysis. Id be curious about how the international ETF's would look under the same analysis. Reply
Loading...
Symbols:
Authors:
Quick Links: