Monday, November 27, 2017

And the Beat...

Monday, November 27, 2017 - U.S. Equities’ record-setting year continued this week, as the major indices soared to new highs in a holiday-shortened week. Despite being confronted with a hung government in Germany, mixed economic data, persistent below-target inflation, further flattening of the yield curve and the announced resignation of Janet Yellen from the Fed Board of Governors, investor enthusiasm for equities remained unabated. This upbeat outlook is underpinned by the conviction that a strengthening domestic economy, synchronized global growth, rising corporate profits and the prospect of a tax overhaul, provide a supportive backdrop to extend this year's rally even further.

Small-Cap stocks led the way in this week's gains after being lifted by the passage of the House version of the tax bill. The tech-heavy Nasdaq composite performed similarly well with the familiar FAANG contingent leading the way. Consumer discretionary stocks also provided a boost amid positive forecasts for Black Friday and holiday season shopping. At week's end, the Russell 2000 was up 1.9%, along with 0.9% and 1.6% advances for the DJIA and Nasdaq. The S&P 500 rose 0.9%, setting another 100 point milestone as it crossed the 2,600 mark on Friday.

ETFG Equity Exposure Report - M&A activity in the fast-consolidating semiconductor industry was in focus this past week, following the news of Broadcom's unsolicited $130 billion bid to acquire Qualcomm and Marvell's $6 billion acquisition of rival Cavium. Through our equity exposure report, you can track ETPs that will be potentially be effected by corporate actions, like M&A activity and other events that have a material impact on either the composition or performance of an ETP from the constituent level. While Qualcomm rejected Broadcom's initial overtures, it will be worth monitoring going forward as Broadcom is reportedly considering upping its already record-breaking offer. Looking at our equity exposure report, we can see that 182 and 105 ETPs hold Qualcomm and Broadcom respectively. The iShares PHLX Semiconductor ETF (SOXX) is the ETF that devotes the largest weighting to both companies at 8.72% and 7.31%.

Marvell's pending acquisition of Cavium has the potential to impact the as many as 130 of the combined ETPs that hold both companies as constituents. The funds with the most exposure to Marvel are the SPDR S&P Semiconductor ETF (XSD), Powershares Dynamic Semiconductors Portfolio (PSI), and First Trust Nasdaq Smartphone Index Fund (FONE) with 3.59%, 3.31%, 2.39% weightings. Cavium's largest exposures reside in the SPDR S&P Semiconductor ETF (XSD), PowerShares Russell Midcap Pure Growth Portfolio (PXMG) and First Trust Nasdaq Semiconductor ETF (FTXL) with 3.78%, 1.9%, and 1.77% weightings.

As always, when assessing the potential impact a merger will have on a given ETP, it is important to review a fund's weighting methodology and selection criteria.

Thank you for reading ETF Global Perspectives!

ETFG 21 Day Free Trial:  https://www.etfg.com/signup/quick

_____________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

Tuesday, November 21, 2017

Registration Closing on Friday - Fall 2017 ETP Forum

Tuesday, November 21, 2017 - Registration will be closing this Friday for the Fall 2017 ETP Forum on Tuesday, November 28 at The New York Athletic Club. Thank you to all who have once again put this event on track to have a record turnout – given we are now approaching capacity for the venue, registration will close on Friday at 6:00 PM ET.







To register click here: http://etpforum.org/etp-forum/registration and complete event information is available at ETP Forum 

Updates on the event will continue to be available on Twitter via @Expert_Series

About The ETP Forum
This one-day symposium convenes some of the most widely recognized experts in Exchange-Traded-Funds and some of the brightest minds in Capital Management.  The ETP Forum features renowned speakers addressing cutting-edge topics within a vibrant and intimate learning atmosphere.  Now in its 5th year, this semi-annual conference continues to provide thought leadership on one of the most exciting investment vehicles in the market, namely Exchange-Traded-Funds.

We look forward to seeing you there and Happy Thanksgiving!

Thank you for reading ETF Global Perspectives!

__________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

Monday, November 20, 2017

Travel Week

Monday, November 20, 2017 - Stocks dropped for the second week in a row as the S&P 500 lost 0.1% and the Dow Jones dropped 0.3%.  The Nasdaq and small-cap Russell 2000 outperformed finishing with small profits of 0.5% and 1.2%, respectively. Consumer Discretionary (+1.3%) and Consumer Staples (+1.0%) were the top performing sectors. The Energy sector (-3.4%) was the worst performing, likely due to the drop in oil prices.

Investors were keeping close tabs on the proposed tax reform bill. The House passed its version of tax reform on Thursday, while the Senate continued to make changes to its version, which now includes a provision to repeal the Affordable Care Act.

ETFG Equity Exposure Report - Walmart, on Thursday, reported their third-quarter adjusted earnings and revenue that beat Wall Street estimates. Walmart earned an adjusted $1 per share, beating the $0.98 that the Street projected. The reported revenue was $123.18 billion beating the $121 billion that was projected.  Shares of Wal-Mart (WMT) jumped 10.9% to a new all-time high.  In the ETF Global Equity Exposure Report we can look at the top ETFs that have exposure to Walmart. The Funds with most exposure to Walmart (WMT) are CNSF, iShares Edge MSCI Multifactor Consumer Staples ETF, with 10.8% in WMT, FTXD, First Trust NASDAQ Retail ETF, which has 8.96% exposure and FSTA, Fidelity MSCI Consumer Staples Index ETF, which holds 7.67%.

ETFG Quant Movers - This week, in the ETF Global Quant Movers section, the ETFs with the biggest increase in their Quant score were SCHA, Schwab US Small Cap ETF, which gained 21.83%, KBE, SPDR S&P Bank ETF, which gained 19.1%, and CNSF, iShares edge MSCI Multifactor Consumer Staples ETF, which gained 17.5%. On the flip side, the biggest droppers in our Quant model were CID Victoryshares International High Div Volatility WTD ETF, which lost 17.77%, ITA, iShares U.S Aerospace & Defense ETF, which lost 17.65% and DWX, SPDR S&P International Dividend ETF, which lost 17.07%.

ETFG Select List - This week, in our weekly select list, we had 2 funds that made it to their top spot in their respective categories after not being rated last week: EWP, iShares MSCI Spain Capped ETF, in the European category and LVHD, Legg Mason Low Volatility High Dividend ETF, in the High Dividend Yield Category.

We wish you and your families a very happy Thanksgiving and thank you for reading ETF Global Perspectives!

ETFG 21 Day Free Trial:  https://www.etfg.com/signup/quick

_____________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.


This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

Saturday, November 18, 2017

Leaderboard Update - ETF Global Portfolio Challenge - Fall 2017

Saturday, November 18, 2017 - It's hard to imagine that only two weeks remain in the Fall 2017 ETF Global Portfolio Challenge!

This semester's competitive landscape once again features a globally diverse array of students and universities with students hailing from six different continents and 214 schools.  

Against this backdrop, our contestants have experienced highly competitive playing conditions and constant change atop our leaderboard.  Here's where our leaderboard stands through eight weeks of competition.

Fall 2017 - Week 8 - Leaderboard
Name
School
Return
Patrick Michael
Saint Joseph's University
18.84%
Si Young Choi
HK U of Science & Technology
17.38%
Ryan Hannifan
Univ of Wisconsin - Madison
17.05%
Anthony Petretti
Xavier University
15.98%
Anthony Calderone
Arizona State University
15.82%
Connor Pritchard
Arizona State University
15.00%
Brian Toy
Binghamton University
14.69%
Ryan James
Univ of Wisconsin - Madison
14.12%
Adam Ross
University of Detroit Mercy
12.83%
Spencer Owens
Utah Valley University
12.14%

If the previous eight weeks of competition are any indication, we will continue to see changes and new challengers emerge on our leaderboard. Stay tuned for a full recap after the challenge concludes at the beginning of December.

Thank you for reading the ETF Global Perspectives!

ETFG 21 Day Free Trial:  https://www.etfg.com/signup/quick

_____________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

Tuesday, November 14, 2017

Meet the Speakers - Fall 2017 ETP Forum, Tuesday, November 28, 2017

Tuesday, November 14, 2017 - The Fall 2017 ETP Forum is just 2 weeks away and will be held on Tuesday, November 28th at the New York Athletic Club!

The event once again will feature thought and business leaders from across the Asset Management and the Exchange-Traded-Fund industries. You can register here for the event: http://etpforum.org/etp-forum/registration

Now let's meet the terrific speaking lineup for this event:

Chris Romano, Director of Research, ETF Global
Dr. Brian Portnoy, Director of Investment Education, Virtus
Mike Castino, Senior Vice President, U.S. Bancorp Fund Services
Michael Mell, Director-Custom Indices, S&P Dow Jones indexes
Tim Ng, Chief Investment Officer, ClearShares
Shana Martin, ETF Product Manager/Capital Markets, Nationwide Inv. Mgmt.
Alexandra Levis, Founder, Arro Financial Communications
Carol Robbins, Branding Expert
Joe Anthony, President, Financial Services, Gregory FCA
Eric Alexander, Chief Strategy Officer, madandwall
Ray Hennessey, Chief Innovation Officer, JConnelly
Lisa Jane O’Neil, President, LJOPR Communications
Dan Carlucci, CFA, ETFG Research Advisory Board
Meb Faber, Chief Investment Officer, Cambria Investments
Ed Coyne, EVP, National Sales, Sprott Asset Management USA
Travis Briggs, CEO & Partner, ROBO Global
Jim Pacetti, Director of Marketing, ETF Global
Lauren Jack, SS&C Learning Institute
Matt Horne, Portfolio Manager, Fidelity Investments
Bruce Dorey, Consultant & Executive Coach
Jessica Rabe, DataTrek Research
Frank Riggio, Director of Wealth Management, SMC Global USA
John Cole Scott, Chief Investment Officer, CEFA
Francis Rodilosso, Head of Fixed Income ETF Portfolio Mgmt., Van Eck
Jay Hatfield, Co-Founder, CEO and Portfolio Manager, Infracap
Paul Kovarsky, Director, Institutional Partnerships at CFA Institute
Karl Snyder, Chief Market Strategist, Vets Indexes
Glen Yelton, ESG and Impact Research Analyst, Oppenheimer Funds
Herman Bril, Director of the Investment Management, UN Joint Staff Pension Fund
Walter Mello, CIO, WMM Capital Advisors
Marc Zabicki, CIO, Bower Hill Capital Management
Jason Orlosky, CIO, Ziegler Capital Management's BPG Strategies
Will Rhind, Founder & CEO, Graniteshares
Chuck Self, Chief Investment officer, iSectors
Matthew Bielski, Head of Asset Allocation & ETF Distribution, Direxion

We look forward to seeing you!

___________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

Monday, November 13, 2017

Earnings Season Wrapping Up

Monday, November 13, 2017 - Global equities reached all-time highs last week before dropping off at the end of the week. The Dow Jones Industrial Average ended the week down .5% and both the S&P and NASDAQ ended down .2%. The yield on the 10-year Treasury crept up 4 basis points from 2.34% to 2.38%. Oil prices rose as well from $54.6 per barrel to $57.2 per barrel driven primarily by the events unfolding in Saudi Arabia and the potential of a Venezuelan default.

Last week Real Estate, Consumer Staples and Energy were the best performing sectors rising 3.24%, 2.15% and 1.43% respectively. On the other hand, Financials, Industrials and Materials were the worst performing sectors losing 2.61%, 1.07% and 1.22%.

ETFG Equity Exposure Report - Earnings season is wrapping up with just 17 companies in the S&P 500 still to report earnings over the next few weeks and this past week saw many tech companies report with one being Square (SQ). Square's revenue and earnings per share for its third quarter were $257 million and $0.07, respectively, increases from $178 million and $0.01 in the 3rd quarter a year ago. Both statistics exceeded analyst estimates of $245 million and $0.05. Square stock increased about 7% on the earnings release. In the ETF Global Equity Exposure Report, we can see what ETFs currently hold Square and how they did this week. The ETFs with the biggest exposure to SQ are IPO, Renaissance IPO ETF, which has 10.69% in Square, FINX, Global X Fintech Thematic ETF, with 6.55% exposure, and FNG, Advisor shares New Tech and Media ETF, which has 4.19% exposure.

ETFG Select List - This week, in the ETF Global Select list, we had a few funds making the jump into the number 1 spot including 2 of the Funds moving from being ranked 4th last week to first this week - JHMA, John Hancock Multifactor Materials ETF, in the Basic Materials category and QDEU, SPDR MSCI Germany Quality Mix ETF, in the Europe category.  While 2 other funds managed to move up from being unranked last week to the number 1 spot this week - XPH, SPDR S&P Pharmaceuticals ETF, in the North America  category and DEM WisdomTree Emerging Markets Equity Income Fund in the  High Dividend Yield  category.

ETFG Quant MoversIn the ETFG Quant Movers this week, the biggest gainers in their ETFG Quant Score were DON, WisdomTree Midcap Dividend Fund, which increased by 48.61%, EPS, WisdomTree Earnings 500 Fund, which increased by  36.51% and EXT, WisdomTree Total Earnings Fund, which increased by 33.78%. On the flip side, the funds that had the biggest drop off in their ETFG Quant Score were EUFN, iShares MSCI Europe Financials ETF, which dropped by  17.24%, WBIB, WBI SMID Tactical Value Shares, which lost 16.74% and IYF, iShares US Financials ETF, which lost 15.29%.

Thank you for reading the ETF Global Perspectives!

ETFG 21 Day Free Trial:  https://www.etfg.com/signup/quick

_____________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.


This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

Friday, November 10, 2017

Veterans Day 2017

We extend our sincerest appreciation for our United States Military Veterans – thank you for your service!

We also want to thank and recognize our friends at VETS Indexes for the terrific work that they do in honor and support of our Military Veterans - please see below for VETS Indexes Veterans Day 2017 message:

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In recognition of Veterans Day 2017, VETS Indexes proudly salutes our United States Military Veterans

NEW YORK, NY – November 10, 2017: As we commemorate Veterans Day 2017, it gives us great pride at VETS Indexes to salute all our United States Military Veterans. 

We offer our genuine gratitude and thank these brave men and women for tirelessly serving our great nation both near and far, so that we may live in freedom. It also gives us great satisfaction to wish the United States Marine Corps a happy 242nd birthday on this most fitting day. The service and sacrifices made by all veterans from each branch of service is to be commended with reverence and appreciation.

“On this Veterans Day, we thank all the men and women who have selflessly served our country,” said Karl Snyder, Managing Director and Chief Market Strategist of VETS Indexes. “As a Marine Corps veteran, I am proud to demonstrate that companies who hire and professionally develop our brothers and sisters in uniform benefit tremendously in their enterprise value.”

VETS Indexes is built on the premise that companies who consistently employ, develop and support our military veterans reap the benefit of their specialized skill sets, mission-critical approach and strategic training to achieve greater enterprise performance.
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ABOUT VETS Indexes: VETS Indexes is an independent provider of custom indexes within the Environmental, Social and Governance arena.  Drawing on deep and broad industry experience, we construct and disseminate thematic impact indexes for investors, exchanges and asset managers which serve as the underlying portfolios for financial products.

As the world’s first resource for US Military Veterans’ themed indexes, our mission is to provide innovative solutions that recognize the value created by the mission critical mindset, unique skill sets and specialized training that US Military Veterans bring to the workplace. Additionally, our Mission includes a commitment to always donate a significant portion of our net profits to charitable organizations that support the wellness of our Military Veterans and their families.

“SERVING THOSE WHO SERVED” - VETS Indexes provides a social impact via those public companies that support the hiring and professional development of our military veterans.

Learn more about us at VETS Indexes and follow us on social media channels via LinkedIn, Facebook and Twitter.

PR Contact:
Nicholas Antaki
Director of Marketing
VETS Indexes
Phone: 914-837-1860

Monday, November 6, 2017

Investor News = Market Surge

Monday, November 6, 2017 - Momentum stocks continued to drive US Equity Markets which set new highs last week with the S&P 500 and NASDAQ Composite closing at 2587.84 and 6764.44 respectively for a weekly gain of .26% and .94% on the release of the first comprehensive Tax Reform Bill in over 30 years by House Republicans and a moderately good employment report. Stocks shrugged off a terror attack in NYC, Tech and Energy stocks roared ahead as investors are beginning to sense a turnaround in Oil & Gas producers. This can be seen by the MSCI US Momentum Index which is up 33.9% thru the end of October compared to the MSCI US Index which returned approximately 17% over the same period.

Trump’s announcement of his selection of Jerome Powell for Fed Chairman to succeed Janet Yellen signaled a continuation of Fed Policy to investors.

Investors appear to be looking forward to continued strong economic growth partially from rebuilding efforts from hurricane damages in Texas, Florida and Puerto Rico as well as corporate tax reform including the repatriation of foreign earnings. The latter is critical to fund the proposed infrastructure spend pursued by both parties. While the tax debate is just starting, investors should consider that the new tax bill will limit tax subsidies to borrowers across the board thus discouraging highly leveraged deal making. This is very significant but little understood as the tax code has favored borrowers for decades. The High Yield Sector could suffer negative consequences if the proposed bill stands as is. Nevertheless, the reduction in corporate taxes and incentive to repatriate overseas cash is key to expanding the economy particularly in high value infrastructure projects.

On the international front, the POTUS started an extended trip in Asia to reaffirm US commitments to the region, discuss trade and the issue of North Korea.  The big surprise over the weekend was news out of Saudi Arabia of an anti-corruption clampdown in across the board and a missile attack on Riyadh. While the purge is likely an attempt for the Crown Prince Salman to consolidate power to push through a much needed aggressive social and economic modernization program, more troubling is the missile attack on the capital which signals a new level of instability in the Middle East. Frontier investors in the Middle East should heed news events and be prepared to trade on any unexpected developments.

In the ETF space, it was not a good week for Active Managers. First, S&P DJI released their latest SPIVA report card on Thursday which showed that active managers across the globe have failed to keep up with their respective benchmarks (see chart below). Business Insider went as far to say that “This is one of the most devastating reports we’ve seen for the future of Wall Street stock pickers.” Simply put, the numbers are the numbers.  This no doubt will accelerate the move to ETFs and other passive strategies.
















Adding fuel to the campaign against active managers, John Bogle in an interview with the Financial Times last week sees indexing eventually comprising somewhere between 70-90% of the market. This will accelerate fee compression pressures. Astute fund managers are jumping on the trend as evidenced by Franklin Templeton’s announcement to launch a broad complex of low cost country and regional ETFs which will nibble away at the big 3 international funds.

These trends show that new research tools like our Weekly Select List and Risk and Reward Ratings are increasingly needed to evaluate the fast growing ETF marketplace. Investing in ETFs requires a new approach to macro investing, one in which investors are just beginning to realize.

Interest in these themes are seen by weekly percentage gainers in our Weekly Select List and jumps in Energy ETFs such as QCLN, PCG and MLPY and KSA for Saudi Arabia.

Investors and traders are advised to check our Ratings and Select list to gain insight into the latest news developments.

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