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ETF Update: Pipeline Continues To Fill

Michael Johnston — Tue, 16 Aug 2011 11:00:13 +0000

The summer months generally bring a slowdown in trading activity on Wall Street, so it isn’t surprising that product development activity has seemingly slowed a bit in the ETF industry as of late. After dozens of new product launches in previous months, just ten new ETFs debuted in July according to the ETF Launch Center. And as we near the midway point in August, only four new ETFs have started trading this month: the India Consumer ETF (INCO), Emerging Markets High Beta Low Income ETF (HILO), SmallCap 600 Equal Weight ETF (EWSM), and MidCap 400 Equal Weight ETF (EWMD). But while the pace of new launches may have slowed, issuers have remained busy behind the scenes laying groundwork for new ETPs that could begin trading later in 2011 (of course, many proposed ETFs may never see the light of day). Among the ideas stuffed into a bursting pipeline over the [...]

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Wednesday’s ETF To Watch: Regional Banks Fund (IAT)

Jared Cummans — Wed, 19 Jan 2011 09:00:02 +0000

The financial sector of the U.S. market has seen its ups and downs over the last several years, tumbling after the collapse of Lehman Brothers and staging a remarkable rally during the final three quarters of 2009. Although it has been a long road from this dark point, recent years have seen numerous banks and financial companies make strong rebounds, helping to pave the way to recovery for the entire economy. But markets are still not up to pre-recession levels, and another boost from the financial sector would go a long ways towards reclaiming levels not touched in several years. As we officially kick off earnings season this week, investors will look to the various financial firms to report their most recent fiscal quarter’s earnings. Last week saw JP Morgan Chase crush the Street estimates, while yesterday brought bad news from Citigroup, which fell short of estimates. Today will see [...]

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Earnings Surprises Rally Regional Bank ETFs

Michael Johnston — Fri, 23 Oct 2009 06:00:02 +0000

This earnings season, which many analysts have called the most important in decades, has certainly had its shares of disappointments. Boeing reported a larger-than-expected loss and reduced its full year guidance to levels more than 40% below Wall Street expectations. AMR, parent of American Airlines, reported a huge loss, hurt by a tough environment and inability to rein in costs as efficiently as some competitors. But the vast majority of companies have either met or exceeded Street expectations, in many cases by a wide margin. High profile announcements from Apple, Amazon, eBay, and McDonalds have given stocks a boost, with most major benchmarks up since reporting season began last week. But perhaps the biggest upside surprises came Thursday when a series of banks reported better-than-expected profits (or better-than-feared losses) for the third quarter. PNC, the fifth-largest U.S. bank by deposits, posted a profit of $559 million, or $1 per share, [...]

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Daily ETF Roundup: XLF Jumps, VXX Slides Again

Michael Johnston — Thu, 22 Oct 2009 21:29:07 +0000

Earnings season surprises continued on Thursday, with strong reports from Travelers, 3M, and McDonald’s contributing to a rally in U.S. equity markets. The Dow reclaimed the 10,000 level that it crossed just last week for the first time in a year. The ETFdb 60 Index, a benchmark designed to measure the performance of a variety of asset classes, gained 4.45, or 0.4%, to close at 1,023.91. Winners outnumbered losers by nearly four-to-one in relatively heavy trading. The biggest winner on Thursday was the financial sector. The Financial Select Sector SPDR Fund (XLF) jumped more than 3%, driven by big gains for components Travelers (7.7%), PNC Financial (12.7%), and Fifth Third (6.8%). XLF is now up more than 22% on the year, and is now in the black over the last year. SunTrust also gave an unexpectedly rosy quarterly report, giving a boost to regional banks. The SPDR KBW Regional Banking [...]

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Regional Bank ETFs: Head-To-Head

Michael Johnston — Thu, 08 Oct 2009 13:55:36 +0000

When the U.S. financial sector experienced an unprecedented meltdown and set off a global recession, many investor wondered just how far financial stocks would slide. After struggling to find a bottom for nearly two years, many financials ETFs have found their footing since hitting market lows in March, posting solid gains for the year. But there are a few glaring exceptions. Regional banks ETFs, funds that invest in equities of small and mid-sized financial institutions, have lagged behind many other financials ETFs in 2009, as institutions continue to fail at an alarming rate. Last week, regulators seized three small banks, bringing the total of U.S. banks that have failed in 2009 to 98. Among the 24 ETFs included in the Financials ETFdb Category, only five are in the red for the year, including two regional bank ETFs. The number of bank closures in 2009 is already the highest since the [...]

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Regional Bank ETFs: Caught Under The TARP

Eric Dutram — Mon, 07 Sep 2009 14:34:51 +0000

When the financial bomb went off in the fall of 2008, it damaged or destroyed nearly everything in its path. Banking stocks (and banking ETFs) were near the epicenter of the blast, and therefore suffered significant damage. But even within the banking sector, there is a huge discrepancy in the returns generated by various types of financial institutions. While some types of banks have begun to prosper, regional bank ETFs have been among the hardest hit in our Financials ETFdb Category, and face a tough road to recovery. Two regional bank ETFs, the iShares Dow Jones U.S. Regional Banks Index Fund (IAT) and the SPDR KBW Regional Banking ETF (KRE) are down roughly 16.4% and 29.7%, respectively, year to date. Meanwhile, XLF, an ETF holding a sizable stake in large banks such as J.P. Morgan, Wells Fargo, and Bank of America, is up over 23% year to date. This large [...]

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Five Financial ETFs Flying Under The Radar

Michael Johnston — Thu, 16 Jul 2009 08:30:40 +0000

Over the past year, the financial sector has been a favorite target of criticisms, frequently accused of outrageous greed that sparked the mortgage meltdown in the U.S., eventually spreading to nearly all corners of the global economy. Moreover, the volatility of financial companies has skyrocketed, perhaps best evidenced by the fact that Direxion’s 3x leveraged Daily Bull (FAS) and Bear (FAZ) Financial Funds (which are vulnerable to big losses in oscillating markets) are down more than 60% and 80%, respectively, since the start of year. These big swings and substantial losses have caused many investors to stay away from the financial sector altogether. While many banking and diversified finance ETFs have continued to trend down in the first half of 2009, the news out of the financial sector hasn’t been all bad. Here’s a look at five ETFs that have bucked the trend and posted strong returns year-to-date: iShares Dow Jones U.S. [...]

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Stress Tests Results Set Stage For Bank ETF Rally

Michael Johnston — Fri, 08 May 2009 05:01:06 +0000

Late Thursday afternoon, the U.S. Treasury Department released the much-awaited results of the government’s “stress tests” on 19 of the nation’s largest banks. Among the big names instructed to raise capital: Bank of America (BAC), Wells Fargo (WFC), and GMAC. In all, the government’s results indicate that 10 of the banks tested need to raise a total of $75 billion in capital. Bank of America (BAC): $33.9 billion Wells Fargo (WF): $13.7 billion GMAC: $11.1 billion Citigroup (C): $5.5 billion Regions Financial Corp. (RF): $2.5 billion SunTrust Banks (STI): $2.2 billion KeyCorp (KEY): $1.8 billion Morgan Stanley (MS): $1.8 billion Fifth Third (FITB): $1.1 billion PNC Financial Services: $600 million But the news out of Washington wasn’t all bad – JP Morgan (JPM), American Express (AXP), and Goldman Sachs (GS), along with 6 others, were told that their capital levels are sufficient to withstand a deeper recession: JP Morgan Chase (JPM) [...]

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ETF Database » IAT

ETF Update: Pipeline Continues To Fill

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