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ETF Spotlight Newsletter
A sampling of research & data on ETFs from AltaVista Research
In This Issue
In This Issue
Chart of the week
Fund focus
New coverage
Quick Links
Coverage at a glance
No. of ETFs
538

Total Mkt Cap ($bns)

$563.7

Avg. daily value traded ($bns)

$57.6
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June 28, 2010
Greetings!

Below please find the ETF Spotlight newsletter for the week of June 28, 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 estimate revisions. Feel free to share it with others who may be interested. 
 
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In this week's issue

technicianEstimate revisions
  • Chart of the week: ETFs with positive, accelerating estimate revisions
  • Fund Focus: Financial Select Sector SPDR (XLF)
  • Revisions, asset flows & short interest
  • Estimate revisions and P/E multiples for major ETFs
  • Market monitor - movers & categories
To download the full newsletter click here.
 
Chart of the week
ETFs with accelerating, positive estimate revisions
ETFs with positive, accelerating estimate revisions
ChartOfWeek

Estimate revisions are closely monitored by investors as an indication how expectations are changing. Historically, they tend to persist in one direction for months or even years at a time, so a change in direction can be a significant development.

Unfortunately, we've picked up signs of weakness in many broad index funds on page 4: while estimates are still up strongly over the past 3 months, more recently many estimates have started to decline, and even where they are still increasing momentum has slowed dramatically.

So for this week's chart we scanned our universe for funds where earnings estimates are still rising and momentum has accelerated. Specifically, we looked for funds where the increase in estimates over the past month was more than one-third of the increase in estimates over the past three months. The resulting list is an eclectic one, including some funds with high ALTAR Scores(TM) and others with rather low scores.

To download the full newsletter, click here.
 
Fund Focus
Financial Select Sector SPDR (XLF)XLF

Although profits will likely more than double in 2010, they will remain far below the levels of earlier in the decade, and the sector probably has more political risk than any other. Further, while the ALTAR Score suggests above average appreciation potential, investors should consider the high degree of uncertainty in estimates, as well as the possibility that return on equity (on which our rating is based) may in fact never return to its prior levels.


To download the full newsletter, click here.
 
New Coverage
We have initiated coverage on the following ETFs...
As always your questions & feedback are most welcome.
 
Sincerely,
 
Michael Krause
AltaVista Research