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VOX vs. ETF Alternatives
Vanguard Telecommunication Services ETF seeks to track the performance of a benchmark index that measures the investment return of telecommunication services stocks.
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Thursday, Sep 121:39 PMScreening for dividend growth names
Thursday, Sep 121:39 PM| 4 Comments
- Dividend payers may be a good place to hide out from rising interest rates, but those stocks sporting the highest yields - telecoms and utilities - tend to have slow payment growth, making them less-attractive as rates rise. Checking back to the 1994 bond bear market, telecoms and utilities were among the market's worst performers.
- Better to shop for modest payers, but above-average payment growth. Barron's screens for those characteristics combined with reasonable overall valuation and turns up three names: Boeing (BA), CVS Caremark (CVS), and GE.
- Certain dividend ETFs employ this strategy as well, with Vanguard's Dividend Appreciation (VIG) - almost zero exposure to telecoms and utilities - and WisdomTree's U.S. Dividend Growth ETF (DGRW) coming to mind. Others include DGRS, DNL, EMDG, DGRE.
- Other dividend ETFs: FDL, FVD, MDIV, QDF, QDYN, QDEF, DIV, CVY, DVY, HDV, IYLD, PEY, PFM, SCHD, SDY, SDYL, DVYL, VYM, DHS, DTD, SYLD, KBWD, SPHD, DLN, DON, HILO.
- Telecom and utility ETFs: IYZ, XTL, VOX, LTL, TLL, IDU, PUI, XLU, VPU, RYU, FXU, PSCU, UPW, SDP, UTLT.
Thursday, May 303:26 AMWhile service providers have been worrying about households ending their cable TV subscriptions, a bigger trend has been customers dropping wire-line Internet. With consumers being able to take advantage of faster cellular networks and the proliferation of WiFi, 1% of households ended their Internet subscription last year vs 0.4% for pay-TV. |Thursday, May 303:26 AM| Comment!
Tuesday, Jan 83:29 PMVanguard's recent expense reduction means 9 of its 10 sector ETFs are now the cheapest available to U.S. investors. With an annual expense ratio of just 0.14%, VOX, VPU, VCR, VDC, VDE, VHT, VIS, VGT, and VAW stack up favorably vs. the 0.18% charged by State Street's Sector SPDRs (XLU, XLY, XLP, XLE, XLF, XLV, XLK, XLI, XLB and XTL which charges 0.35%) and the 0.47%-0.48% iShares sector ETFs (RXI, KXI, IYE, IYF, IYZ, IYH, IDU, IYW, IYM, IYJ) charge. At 0.19%, Vanguard Financials (VFH) is still slightly more expensive than the Financial SPDR (XLF). |Tuesday, Jan 83:29 PM| 2 Comments
Tuesday, Jan 89:59 AMJust before New Year's, Vanguard cut fees on more than a third of its U.S.-listed ETF lineup while raising fees on just 2 ETFs. Its sector ETFs saw the biggest price cuts (from 0.19% to 0.14%) while its 2 small cap funds (VIOO, VIOV) actually saw slight fee hikes. |Tuesday, Jan 89:59 AM| Comment!
Monday, Oct 292012, 1:15 PMSome areas of the dividend universe (telecom, utilities) may be pricey, but dividend stocks are not in a bubble, says ClearBridge's Mike Clarfeld. He suggests looking not just at the upfront yield, but instead at the ability of the company to increase the payout over time. "The sweet spot ... attractive dividends, but really dividend growers - we don't think they are overvalued at all." |Monday, Oct 292012, 1:15 PM| 1 Comment
Wednesday, Oct 172012, 9:13 PMCurrently weighting U.S. telecoms and utilities at zero in his dividend stock portfolio, Pimco's Brad Kinkelaar notes both sectors are trading at near off-the-chart premiums to their average relative multiple. Dividend investors would do better to look overseas, he says, where one can find companies that are growing, paying good dividends, and trading at better value. An excellent presentation. |Wednesday, Oct 172012, 9:13 PM| 7 Comments
Monday, Apr 232012, 7:57 AMAmong the major ETFs seeing redemptions last week were the Industrial SPDR (XLI), losing 9% of its AUM, the Retail Spider (XRT) losing 6%, and the Vanguard Telecommunication Services (VOX), losing 12%. Among the top ETF creations were Semiconductors (SMH), gaining 31% in AUM, and the Euro (FXE), +21%. |Monday, Apr 232012, 7:57 AM| Comment!
Wednesday, Jan 252012, 3:33 AM
Tuesday, Jan 102012, 10:52 AMLiquidity in the telecom and cable sector remains strong, says Fitch, while margins are solid despite competition. These factors should provide a "sufficient buffer to material negative rating changes" in the face of economic headwinds. Of Fitch-rated issuers, 90% have a Stable Outlook, 5% are Positive, and 5% are Negative. |Tuesday, Jan 102012, 10:52 AM| Comment!
Thursday, May 192011, 1:26 PMThe real battle for smartphone combatants Apple (AAPL) and Google (GOOG) may not be against each other - it may be against dumbphones. While smartphones now account for a record 27% of phone shipments, that means the other 73% of the market has yet to be penetrated. Which means it may be less predictable (and less discountable) than expected. |Thursday, May 192011, 1:26 PM| 6 Comments
Thursday, Jan 62011, 12:36 PMProper "earth shattering" news from CES could have a ripple effect on technology ETFs, says Tom Lydon. Given consumer hunger for advanced graphics capabilities, investors should pay special attention to semiconductor funds like SPDR S&P Semiconductor (XSD) and Semiconductor HOLDRs (SMH). And there's software and telecom potential, too. |Thursday, Jan 62011, 12:36 PM| Comment!