Americas ETP News
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The FORUM at ETF Research Center-Beyond ETF Fees: Total Cost of Ownership
February 28, 2019--In the war for assets, many of the largest ETF issuers appear to be waging a fierce battle over fees, constantly "one-upping" each other by lowering costs. But even though fund expenses may be the most visible cost to investors, they are not the only costs. Sometimes they're not even the biggest costs.
Our new Total Cost of Ownership ("TCO") tool can help you analyze the true cost of holding an ETF over time, as well as compare costs between funds. Just click on the TCO tab on any fund focus page. In addition to fund expenses, two trading-related costs are incorporated into our TCO analysis: brokerage commissions and bid/ask spreads.
Fortunately, with an ever-growing list of commission-free ETFs, those are becoming less of an issue, though they can still add up for frequent traders. And while bid/ask spreads are generally tight for popular, widely-held ETFs, they can quickly widen to surpass fund expenses for some ETFs.
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Source: AltaVista Research
Horizons launches tax-efficient preferred shares index ETF
February 27, 2019--HLPR is part of the firm's family of total return index ETFs
Toronto-based Horizons ETFs Management (Canada) Inc. has launched a preferred shares index ETF, the investment manager announced Wednesday.
Horizons Laddered Canadian Preferred Share Index ETF tracks the Solactive Laddered Canadian Preferred Share Index (Total Return), net of expenses. The ETF began trading on the Toronto Stock Exchange today under the ticker symbol HLPR.
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Source: investmentexecutive.com
CBO-The Economic Outlook for 2019 to 2029 in 21 Slides
February 27, 2019--Summary
Real gross domestic product (GDP) is projected to grow by 2.3 percent in 2019-down from 3.1 percent in 2018-as the effects of the 2017 tax act on the growth of business investment wane and federal purchases, as projected under current law, decline sharply in the fourth quarter of 2019.
Nevertheless, output is projected to grow slightly faster than its maximum sustainable amount this year, continuing to boost the demand for labor and to push down the unemployment rate. After 2019, annual economic growth is projected to slow further-to an average of 1.7 percent through 2023, which is below CBO's projection of potential growth for that period. From 2024 to 2029, economic growth and potential growth are projected to average 1.8 percent per year-less than their long-term historical averages, primarily because the labor force is expected to grow more slowly than it has in the past.
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Source: Congressional Budget Office (CBO)
CME Electronic Futures Trading Resumes After Halt Blamed on 'Technical Issues'
February 27, 2019--Problem started at 7:39 p.m. Eastern time and trading across all markets on CME's electronic platform was halted about 28 minutes later.
Electronic trading across CME Group Inc.'s futures markets resumed late Tuesday after technical problems triggered an hourslong trading halt.
The problem started at 7:39 p.m. Eastern time and trading across all markets on CME’s electronic platform was halted about 28 minutes later, according to a CME spokeswoman.
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Source: Wall Street Journal
CFTC.gov Swaps Report Update
February 27, 2019--CFTC's Weekly Swaps Report has been updated, and is now available.
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Source: CFTC.gov
Horizons ETFs to track Solactive Index for Canadian Preferred Share ETF
February 27, 2019--Solactive is pleased to announce that Canadian ETF provider Horizons ETFs Management (Canada) Inc. ("Horizons ETFs") utilizes the Solactive Laddered Canadian Preferred Share Index as the underlying index for the Horizons Laddered Canadian Preferred Share Index ETF ("HLPR"), which lists on the Toronto Stock Exchange today.
The index includes more than 170 Canadian preferred share securities that generally have an adjustable dividend rate.
Essentially, preferred shares are regarded as a hybrid of equity and debt securities, exhibiting characteristics of both instruments. Typically issued by large, well-established companies, preferred shares bear the potential of possible price appreciation or depreciation like common stocks.
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Source: Solactive
Principal joins with Nasdaq Dorsey Wright on Dynamic Factor ETF Model
February 26, 2019--Principal has partnered with smart beta index provider Nasdaq Dorsey Wright to launch the all-ETF factor rotation model portfolio, which is comprised entirely of Principal's US Equity Factor ETFs
Principal has partnered with Nasdaq Dorsey Wright for the first time to launch the Principal NDW Factor Rotation model portfolio.
The dynamic factor portfolio, which is comprised entirely of Principal’s US Equity factor ETF lineup, aims to identify those factors that will perform well over the coming months. This is the first guided ETF model from NDW that utilizes both momentum and mean reversion, in an attempt to capture short-term continuation signals while simultaneously avoiding performance drag due to holding momentum names too long.
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Source: Principal Financial Services, Inc
Advisors Remain Stressed but Professionally Satisfied, Second Annual FlexShares Advisor Wellness Survey Finds
February 26, 2019--FlexShares Exchange Traded Funds (ETFs) today announced the results of their second annual financial advisor wellness survey, which found that advisors are 23 percent more stressed than the national average, down only slightly from last year's 25 percent, but nonetheless remain overwhelmingly satisfied with their career choice.
Advisors reported 79 percent job satisfaction overall, with advisors who manage over $250 million in assets reporting 12 percent higher satisfaction than their peers with fewer assets under management.
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Source: AP
Vanguard Ups the Ante in an ETF Race to Zero
February 26, 2019--Fees are coming down on 10 ETFs, with combined assets of almost $175 billion
Vanguard Group is cutting management fees on 10 exchange-traded funds, the latest money manager to trim fees on a host of investment products.
The ETFs, with combined assets of $176 billion, include funds that invest in international stocks and bonds. The biggest is the $63 billion Vanguard FTSE Emerging Markets ETF, which will cost $12 a year for every $10,000 invested. That is down from $14, making it cheaper than a competing ETF from BlackRock Inc.'s iShares Core lineup. In addition, 43 Vanguard mutual funds are also reducing...
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Source: Wall Street Journal
It's Too Quiet When It Comes to Volatility for Some Analysts
February 26, 2019--Sundial sees setup as good for bonds, not for greenback
Cantor urges caution, while BTIG sees a chance for upside
The rally thundering across markets has done more than just drive up prices, it's pushed down volatility.
Markets around the world have started the year on a tear encouraged by easing trade tensions, a more dovish-sounding Federal Reserve and signs that China is bolstering its economy. And volatility gauges have responded.
