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MATH Lesson: AdvisorShares Rolls Out Tactical Advantage ETF

Michael Johnston — Thu, 23 Jun 2011 14:00:14 +0000

AdvisorShares continued a busy week on the product development front, following up the launch of three Madrona funds earlier in the week with the debut of the Meidell Tactical Advantage ETF (MATH). The newest actively-managed ETF will be sub-advised by American Wealth Management, and will be structured as an ETF-of-ETFs that invests in other exchange-traded products. MATH will offer exposure to a number of different asset classes, shifting exposure based on the management team’s view of various risk factors. MATH will rely on a quant-based formula build around the concepts of relative strength and moving averages that strives to select asset classes that exhibit characteristics of long-term “durable” trends. The methodology will utilize price-to-velocity metrics in its analysis of various asset classes [read more in the Active ETF Center]. Under The Hood MATH Ranges Foreign Stocks 0% – 50% Large Cap Stocks 0% – 50% Mid Cap Stocks 0% – [...]

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May ETFdb Category Kings: Best Performing ETFs

Michael Johnston — Fri, 03 Jun 2011 13:00:43 +0000

The month of May was a generally disappointing stretch for investors, as both international and domestic equity markets struggled to overcome obstacles new and old. Commodities, which had been a nice source of absolute returns for much of the last year, fell on hard times as well; precious metals went into a brief freefall, and most other natural resources saw price declines as well. May demonstrated the importance of a meaningful allocation to fixed income within any long-term portfolio, as most bond ETFs turned in nice gains during the month. The following tables highlight the best performers from each ETFdb Category during the month of May [ETFdb Pro members can download spreadsheets showing performance and expense data for the entire ETF universe]. Equity ETFs Though most equity ETFs finished May in negative territory, there were a handful of bright spots among the hundreds of ETFs that slice and dice the [...]

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State Street Plans Active ETFs

Michael Johnston — Fri, 08 Apr 2011 11:00:50 +0000

The dawn of the second quarter of 2011 has seemingly brought a fresh round of momentum to the active ETF space, as the logjam at the SEC has been broken–at least initially–and some major names in both the ETF and mutual fund space have inched closer towards rolling out actively-managed ETFs. State Street, the issuer behind the two largest U.S.-listed passive ETFs, became the latest to throw its name into the ring as a potential issuer of active ETFs. In a recent SEC filing the company detailed six active ETFs covering various asset classes and investment strategies: SSgA Real Assets ETF: This fund would seek “to achieve real return consisting of capital appreciation and current income” according to the filing, and would invest primarily in exchange-traded products offering exposure to four asset classes: 1) TIPS, 2) domestic and international real estate, 3) commodities, and 4) equities of companies in the [...]

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Size Does Matter (To a Point): Study of ETF Liquidity

Michael Johnston — Thu, 11 Jun 2009 07:00:36 +0000

As the ETF industry has exploded on to the scene in recent years, sponsors have aggressively launched funds in an attempt to gain market share. While many of these new ETFs have attracted sufficient investor funds to justify continued operation, some have failed to garner a level of investment necessary to support an active, liquid market and been shuttered. And then there are those that remain in business but are cited as having “insufficient liquidity.” Although there are certain rules of thumb – assets under management (AUM) of $25 million and daily volume of 25,000 are often cited as “liquidity thresholds” – there is no hard evidence to support these guidelines. In an effort to determine where illiquidity ends and an active market begins, I analyzed the impact of size and daily volume on the liquidity of various ETFs. To start, I divided ETFs into six baskets based on three-month average daily [...]

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MATH Lesson: AdvisorShares Rolls Out Tactical Advantage ETF

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May ETFdb Category Kings: Best Performing ETFs

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State Street Plans Active ETFs

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