ETFS

Income investors are always on the lookout for “quality” funds, and there is no dearth of commentary extolling the virtues of various supposedly quality CEFs. In this article, we try to pin down the characteristics that make a “quality” CEF. More specifically, we settle on two key features. The first is historic outperformance in absolute
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The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information has been sourced from CEFInsight or
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Since the COVID-related market meltdown in March, equity funds (including ETFs) have continued to suffer net outflows despite the average equity fund moving into positive territory and posting a year-to-date return of 2.93%. They have handed back some $317.0 billion year to date (their largest net outflows for any full one-year period) through the Refinitiv
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Thesis Summary The Fidelity Blue Chip Growth Fund (FBGRX) is an ETF that invests most of its assets into blue-chip growth stocks. It has outperformed its peers and the market over the last few years and I have strong reasons to believe this will continue. The fund invests in large and established companies, which have
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The following data is derived from trading activity on the Tradeweb Markets institutional European- and U.S.-listed ETF platforms. European-Listed ETFs Total traded volume Notional volume executed on the Tradeweb European-listed ETF marketplace reached EUR 30.7 billion in September. The proportion of transactions processed via Tradeweb’s Automated Intelligent Execution (AiEX) tool was 72%. Adriano Pace, head
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Author’s note: This article was previously released to CEF/ETF Income Laboratory members on Oct. 12, 2020. Please check latest data before investing. The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in the last week, as well as to
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This article series shows every month a dashboard with aggregate industry metrics in healthcare. Most of the companies used to calculate these metrics are holdings of the Health Care Select Sector SPDR ETF (XLV). Therefore, this is also a top-down survey of XLV. Shortcut If you are used to this dashboard series or if you
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The market had lost some of its mojo in September but has regained ground since the start of this month. The S&P 500 is attempting to make new all-time highs once again. So, what’s leading this fresh momentum? It’s probably a combination of many positive factors, for example, the renewed hope of a fresh round
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Our last article on Cornerstone Total Return Fund (CRF) provided a great fodder for the debate. This was similar to our earlier article on its sister fund Cornerstone Strategic Value Fund (CLM). While we thought the data we provided was powerful enough, there were still skeptics. We thought the best way to address that, was
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The VanEck Emerging Markets Bond Fund (MUTF:EMBAX) utilizes a flexible approach to emerging markets debt investing and invests in debt securities issued by governments, quasi-government entities or corporations in emerging markets countries. These securities may be denominated in any currency, including those of emerging markets. By investing in emerging markets debt securities, the Fund offers
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Welcome to Orchid’s Platinum Weekly report, in which we discuss platinum prices through the lenses of the GraniteShares Platinum Trust (PLTM). Thesis PLTM has performed the weakest among the precious metals group since the start of October, as the index chart below shows. Source: Bloomberg, Orchid Research While we have been willing to turn tactically
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The VanEck Vectors Morningstar Wide Moat ETF (MOAT) relies on Morningstar’s moat investing philosophy, which focuses on companies with sustainable competitive advantages trading at attractive valuations. The ETF’s track record since its inception in 2012 has been convincing, with Morningstar recognizing the strong moat of FAANG stocks, enabling the ETF to capitalize on their rise.
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All of a sudden, the future outlook turns more positive and SPY decides to break out to the upside, instead of continuing down to test the lower limits. The market seems to know the results of the impending election and is happy with the outcome. Trump wants a bigger stimulus package. The news on the
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Steadily lower CEF yields and heightened volatility have underlined the attraction of alpha-generation strategies. In this article, we take a look at a number of relative value CEF opportunities in the preferreds sector. Within the Flaherty & Crumrine suite of preferred CEFs, we highlight the Flaherty & Crumrine/Claymore Total Return Fund (FLC) over the Flaherty
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Refinitiv Lipper’s fund asset groups (including both mutual funds and ETFs) experienced net negative flows of $9.3 billion for the fund-flows trading week ended Wednesday, October 7. This week’s results marked the ninth straight overall net outflow for funds during which time their coffers have contracted by almost $159 billion. In this week’s activity, the
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Less than a month ago, I published a piece on the iShares 20+ Year Treasury Bond ETF (TLT). In it, I argued that long-term government bonds had become a terrible alternative for income-seeking investors, but at the same time a compelling diversification tool despite the zero-rate environment. Contradicting my observations, which did not properly anticipate
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The Aberdeen Asia-Pacific Income Fund (NYSEMKT:FAX) is a closed-end fund that invests in Asia-Pacific region bonds and debt securities. While the COVID-19 pandemic has represented a challenging market environment, the fund has been able to overcome significant volatility to return 2% thus far this year. The actively-managed fund currently yields 8.3% distributed monthly, making it
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Author’s note: This article was released to CEF/ETF Income Laboratory members on October 1, 2020. Please check latest data before investing. Background Remember, when Franklin Resources (NYSE:BEN) acquired Legg Mason, shareholders of the Legg Mason CEFs (including the Western Asset and Royce Funds) had to approve new management and subadvisory contracts for the funds to
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Source: Goodfon Instrument The VanEck Vectors Russia ETF (BATS:RSX) is a fund that offers exposure to equities from Russia, which include publicly-traded companies that are incorporated in Russia or that are incorporated outside of Russia but have at least 50% of their revenues/related assets in Russia. Source: VanEck Note: The RTS Index is a free-float
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So far the SPY (NYSEARCA:SPY) has had a normal correction after an enormous move up from the bottom of a market crash to a rather surprising new high. This move was fueled by extreme fiscal and monetary stimulus. The latest stimulus package is stalled in Congress and the market move up is also stalled. Interest
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The ProShares UltraPro Short S&P 500 ETF (SPXU) is one of the most popular instruments to short the broad market for trading or hedging purposes. However, its daily -3X leverage factor is a source of drift. It must be closely monitored to detect changes in the drift regime. This article explains what “drift” means, quantifies
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