ETFS

Sign up for Let’s Talk ETFs on your favorite podcast platform: By Jonathan Liss First noted by Nobel laureate Eugene Fama in his seminal 1965 paper The Behavior of Stock-Market Prices, the anomaly known as the “short-term reversal” has piqued the curiosity of both professional and retail investors with its promise of immediate, outsized returns.
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The VanEck Vectors Oil Refiners ETF (CRAK) is an investment instrument that provides investors with broad exposure to the global refining sector. Its holdings focus on merchant refiners rather than integrated oil & gas names that have large refining segments. U.S. refiners such as HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), and Valero Energy
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Lipper’s fund asset groups (including both mutual funds and exchange-traded funds) took in $70.4 billion of net new money for the fund-flows trading week ended Wednesday, March 11. Money market funds (+$87.6 billion) were responsible for all of the week’s net inflows as investors parked a significant amount of money on the sidelines, driven by
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Equity ETFs suffered their fifth worst one-week net outflow in history (Lipper began tracking equity ETF flows data in 1996) as the group had $17.8 billion leave its coffers for the fund-flows trading week ended Wednesday, February 26. As the perceived threat from the coronavirus has grown over the last week, the major U.S. equity
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“When It Rains, It Pours” That is the phrase that comes to mind when trying to describe the 2-day meltdown in U.S. stock markets. After shaking off the Covid-19 outbreak which was largely contained outside of China, the suddenly out-of-control spread to South Korea and Italy proved too much to overcome, as the Dow Jones
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Main Thesis The purpose of this article is to evaluate the iShares U.S. Utilities ETF (IDU) as an investment option at its current market price. In the short term, the utilities sector continues to push to new highs, and it is actually the second best performing sector so far in 2020. With this bullish momentum,
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Main Thesis The purpose of this article is to evaluate the SPDR Portfolio Short Term Corporate Bond ETF (SPSB) as an investment option at its current market price. This is a fund that holds corporate bonds that are rated investment grade, which also have a remaining maturity between 1 – 3 years. I believe now
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ETF Overview Fidelity MSCI Energy Index (FENY) owns a portfolio of large-cap U.S. stocks in the energy sector. The ETF seeks to track the performance of the MSCI USA IMI Energy Index. The fund’s top 10 stocks represent about 70% of the total portfolio and these stocks are trading at valuations below their historical averages.
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The IPO market is red-hot. Anyone who has worked on Wall Street knows that investment banks and investors love a hot IPO. While listening to my favorite financial media outlets today, I overheard the anchors discussing the big returns IPOs are making for investors year-to-date. The problem that seems to come from an oversubscribed IPO
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A loyal follower on Seeking Alpha reached out to me about researching a fascinating fixed-income mutual fund. I have to be honest here and disclose my discomfort for closed-end funds that RNSIX owns. Due to CEF premiums and discounts to net asset value, it can be hard for retail investors to understand why these funds
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For the sixth week in seven, investors were overall net purchasers of fund assets (including those of conventional funds and ETFs), injecting $3.9 billion for Lipper’s fund flows week ended February 5, 2020. Fund investors were net purchasers of taxable fixed-income funds (+$7.0 billion), equity funds (+$3.4 billion), and municipal bond funds (+$1.6 billion), but
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It’s been a hard year for holders of the Invesco DB Oil ETF (DBO) with shares falling by over 16% since the start of this year. While this negative return has been difficult to stomach for some, it is my opinion that we are sitting on the cusp of a large rally in crude oil.
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Thesis Welcome to Orchid’s Platinum Weekly report, in which we discuss platinum prices through the lenses of the GraniteShares Platinum Trust (PLTM). PLTM has come under pressure since it reached a local high on January 16, driven by a sell-off in the PGM space and a lack of haven flows as platinum has become increasingly
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Investment Thesis In this regular note, we provide a discussion on the macroeconomic environment and the fundamental dynamics across the industrial metals, with a special focus on copper, zinc, and aluminium, in order to formulate a clear view on the Invesco DB Base Metals Fund (DBB). By tracking many technical and real-time micro indicators across
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At the start of January, PIMCO succumbed to the inevitable and cut distributions on a number of municipal closed-end funds. The move was emblematic in our view of a difficult market environment of low yields, flat curves, tight credit spreads, and higher cost of leverage than existed for most of the post-crisis period. In this
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Investment thesis Welcome to Orchid’s Silver weekly report, in which we wish to deliver our regular thoughts on the silver market through the Aberdeen Standard Physical Silver Shares ETF (SIVR). SIVR proved weaker than our expectations in January, as the silver spot price made a loss of roughly 1%, underperforming gold, which enjoyed a gain
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Thesis Welcome to Orchid’s Palladium Weekly report, in which we discuss palladium prices through the lenses of the Aberdeen Standard Physical Palladium Shares ETF (PALL). First and foremost, we would like to apologize to our readers for not having published an update sooner this year. PALL has exploded higher since our last update published on
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Over the last week, the price of the ProShares Short VIX Short-Term Futures ETF (SVXY) has taken a bit of a clobbering in line with a surge of volatility in global markets. At present, the coronavirus in China appears to be driving much of the market volatility; however, I believe that this volatility is poised
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Co-produced by Stanford Chemist BlackRock Enhanced Capital and Income Fund (CII) is entering the 2020 New Year the right way, with a higher distribution. The distribution was raised from $0.0828 to $0.0875 per share per month. This was a welcomed 5.7% increase and brings the fund’s distribution rate to an attractive 6.11%. This new distribution
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Lipper’s high yield funds peer groups (including both mutual funds and ETFs) experienced net outflows of $2.9 billion for the fund-flows week ended Wednesday, January 29, 2020. This was the worst weekly result for the group in more than five months (when it registered net-negative flows of $4.1 billion for the fund-flows week of August
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