Greetings!
Below please find the ETF Spotlight newsletter 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. |
In this week's issue
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- Chart of the week: Rising Expectations in a World of Gloom
- Fund Focus: iShares DJ Oil Equipment & Services (IEZ)... page 2
- Revisions, assets flows & short interest...page 3
- 2012 Dividend per share estimates, annual change, and yield of major ETFs...
page 4 - Market monitor: big movers & market segments...page 5
Download ETF Spotlight here. |
Chart of the week
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Rising Expectations in a World of Gloom
Earnings estimates are being cut around the globe amid the European debt crisis, but there are some broad indices where estimates are still on the rise, giving investors something to cheer about. In the U.S., the First Trust Value Line fund (FVL) is seeing estimates hold up better than those in the S&P500 (SPY), while in Emerging Markets firms in the First Trust Emg Mkts fund (FEM) have seen forecasts tick up, unlike their counterparts in the iShares MSCI Emg Mkts fund (EEM). FEM is however more concentrated in Chinese stocks.
But the real stand-out in terms of estimate revisions is the RevenueShares Navell Overall A-100 fund (RWV), which is dominated by U.S. stocks at 71%, but also includes overseas developed and emerging markets exposure. RWV's revenue-weighting scheme means it has largely avoided the revenue-challenged Financial sector, which has been dragging estimates down for most other broad indices.
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Figure: Trend in Current FY Estimates
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Fund in Focus
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 iShares Oil Equipment & Services (IEZ)
As a long-term investment theme we think equipment and services firms are best positioned to benefit from the revolution in shale oil and gas reserves, in the same fashion that shovel sellers do well in a gold rush. Among equipment and services ETFs available, IEZ currently enjoys the highest ALTAR Score. Lastly, shares are trading near the bottom of their historical P/E range.
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