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New White Paper on Analysis of Options-Based Funds and Benchmark Indexes
March 6, 2018--Paper, which updates 2014 study, to be presented Wednesday at Cboe's Risk Management Conference
The number of options-based funds grew from just 10 in 2000 to 157 in 2017
Assets under management for all options-based funds grew from $4.1 billion in 2000 to $54 billion in 2017.
The new white paper, planned to be presented on Wednesday at the 34th annual Cboe Risk Management Conference (RMC)
U.S. in Bonita Springs, Florida, finds that the number of options-based funds continued to grow from just 10 in 2000 to 157 in 2017, and presents a sample of equity funds and funds with objectives other than broad-based U.S. equities.
Performance analysis of funds benchmarked to indexes beyond diversified U.S. equities is not conducted in this study.
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Source: Cboe Global Markets
DR Index Monthly Performance-February 2018
March 6, 2018--The BNY Mellon DR Index Monthly Performance for February 2018 report is now available.
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Source: BNY Mellon
Cboe Global Markets Reports February 2018 Trading Volume
March 5, 2018--VIX futures, VIX options and SPX options set new ADV records in February 2018
Record month of trading across Cboe Options Exchange, Cboe Futures Exchange, Cboe Periodic Auctions Book and Cboe FX
Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today reported February monthly trading volume and average revenue per contract (RPC)/net revenue capture data
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Source: Cboe Global Markets
AdvisorShares Weekly Market Review-Trade Wars! Give Me Those Trade Wars!
March 5, 2018--Highlights of the Prior Week Ending 3/2/2018
Macro
Markets tumbled last week for many reasons potentially as Barron's blamed FOMC Chair Powell citing the potential need for four hikes this year, long awaited wage inflation, higher interest rates (although they were actually steady last week), concerns there may be no infrastructure plan from congress
and an "easy to win" trade war proposed by President Trump consisting, for now of a 25% tariff on steel and aluminium.
Interestingly, markets were up of Friday, after a bad start on the heels of the trade war tweets. For the week the Dow Jones Industrial Average fell 3.06%, the S&P 500 was down 2.04%, the NASDAQ slid 1.12% and the Russell 200 dropped 1.02%.
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Source: AdvisorShares
CBO-Revenues in 2017: An Infographic
March 6, 2018--Revenues received by the federal government in 2017 totaled $3.3 trillion, of which $1.6 trillion was receipts of individual income taxes.
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Source: Congressional Budget Office (CBO)
The Federal Budget in 2017: An Infographic
March 5, 2018--The federal deficit in 2017 was $665 billion, equal to 3.5 percent of gross domestic product.
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Source: Congressional Budget Office (CBO)
It's Getting Harder to List Exotic ETFs
March 4, 2018--The bitcoin-fund pushback ends a long period of what seemed like 'anything goes' for ETF issuers
After years of unbridled growth, the introduction of new ETFs and other exchange-traded products has run into hurdles recently from both regulators and forces within the securities industry.
The most significant line in the sand drawn recently by regulators was a Jan. 18 letter from Dalia Blass, head of investment management for the Securities and Exchange Commission, regarding applications and listings for bitcoin-linked exchange-traded products (ETPs).
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Source: Wall Street Journal
Passive fund managers face showdown in US gun debate
March 3, 2018--BlackRock, State Street Global Advisors and Vanguard struck an analogous note this year as one after another of the world's largest fund managers announced they were beefing up corporate governance and stewardship in 2018.
The fund giants, which collectively oversee $14tn in assets, called on...
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Source: FT.com
AdvisorShares Active ETF Report: A Review of the First Month of 2018
March 2, 2018--Total assets in actively managed ETFs grew by $2.57 billion, or 5.6%, in January to reach $48.43 billion. Only one new fund added to the active ranks in January, which brings the total to 206.
Much, of course, has been made about the record broad inflows into ETFs last month. Industry ETF flows-both passive and active-totaled $75 billion, which eclipses the old record by more than $15 billion.
The breakdown of all ETF flows according to CNBC was $39.7 billion into Domestic Equity, $26.1 billion into International Equity and $8.8 billion into Fixed Income. The tilt to equity flows was also captured in the active space, which has not been common for actively managed ETFs. Global Equity captured the most flows in January.
26% of actively managed ETFs eligible for a Morningstar rating carry a three-star rating, which means they provide similar risk-adjusted returns to their category.
64% of actively managed ETFs eligible for a Morningstar rating range from three-star to five-star ratings, which means they provide similar or better risk-adjusted returns compared to their category.
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Source: AdvisorShares
Three Vanguard Funds To Transition Benchmarks To Align With MSCI's Sector Changes
March 2, 2018--Vanguard today announced plans to change benchmarks for three sector funds and their corresponding ETF Shares: Vanguard Telecommunication Services Index Fund, Vanguard Consumer Discretionary Index Fund, and Vanguard Information Technology Index Fund.
The changes will be consistent with S&P Dow Jones and MSCI's planned revisions announced in November 2017 to the funds' respective target benchmarks under its Global Industry Classification Standards methodology.
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Source: Vanguard
