Greetings!
Below please find the ETF Spotlight newsletter for
the week of June 14, containing highlights of the research and
data on www.etfresearchcenter.com
as well as a recap of the past week's action in the ETF market. The focus of this week's edition is ETFs trading at a discount to book value. Feel free to share it with others who may be interested. |
In this week's issue
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 ETFs trading at a discount to book value
- Chart of the week: ETFs trading at a discount to book value
- Fund Focus: Claymore/Delta Global Shipping (SEA)
- Revisions, asset flows & short interest
- Sales estimates, growth rates and P/S multiples for major ETFs
- Market monitor - movers & categories
To download the full newsletter click here. |
| Chart of the week
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ETFs selling at a discount to book value
ETFs trading at a discount to book value  |
One of the most basic strategies of value investors is to look for stocks selling at a discount to book value. So we screened our universe of ETFs for those selling for less than book value, excluding any fund with more than 20% of its assets in the Financial sector (since "book value" there is somewhat suspect these days). But surprisingly few of the funds that made the cut appear to be a good investment, despite their P/BV multiples below 1.0x. As the chart shows, Japanese ETFs feature prominently but none has a very impressive ALTAR Score(TM). This is because of Japanese firms' generally dismal levels of profitability, One fund on the list however that is different is the Claymore/Delta Global Shipping ETF (SEA), which just re-listed and is the subject of this week's Fund Focus. To download the full newsletter, click here. |
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Fund Focus |
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Claymore/Delta Global Shipping (SEA)
Back on the market after a brief de-listing and reconsitution, SEA has the highest ALTAR Score of any ETF we cover. Many tankers fly the Greek flag and their stocks have been thrown out with the rest of that market, but we believe global trade will continue to grow and the profitability of these companies will recover along with it (estimates have been rising nicely in recent months). Meanwhile these firms trade at bargain valuations of about 5 times cash flow and less than book value.
To download the full newsletter, click here.
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