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  1. ETF Building Blocks Channel
  2. EDOG Outperforms Global Equities Markets
ETF Building Blocks Channel
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EDOG Outperforms Global Equities Markets

Elle CarusoDec 13, 2022
2022-12-13

The ALPS Emerging Sector Dividend Dogs ETF (EDOG B+) outperformed broader global equities markets last week.

The U.S. dollar’s weakening amid optimism around China’s less restrictive COVID-19 measures has been supportive for EDOG. Additionally, a number of EDOG’s holdings had positive news stories last week that drove performance, SS&C ALPS Advisors wrote in a December 12 ETF Spotlight.

Within EDOG’s Communication Services sector, cellular network provider Vodacom Group Ltd (VOD SJ, 1.94% weight as of December 9) rallied 4.77% last week on the back of a potential acquisition from Abu Dhabi-based Emirates Telecom Group. The deal would bring synergies from Vodacom’s African footprint that could benefit both communications providers, according to ALPS.

Additionally, Philippines-based digital services provider PLDT Inc. (TEL PM, 2.11% weight as of December 9) gained nearly 8% last week on a follow-through rally from its recent earnings beat, where the company cited strong growth within its datacenters and broadband buildout in the Philippines, ALPS wrote.

EDOG’s overweight to cyclical sectors — energy and materials — outperformed last week with South African mining company, African Rainbow Minerals Ltd. (ARI SJ, 2.19% weight as of December 9), gaining nearly 6% after consumer confidence in South Africa posted a strong recovery along with a rise in employment growth, driving the South African Rand higher, according to ALPS.

South African energy producer Exxaro Resources Ltd. (EXX SJ, 1.91% weight as of December 9) increased full-year revenue guidance on a rise in coal sales volumes and expectation of coal production to increase 3% for the year, sending its stock 3.57% higher last week.

Momentum continued last week for EDOG’s China-based stocks, which comprise nearly 10% of the fund as of December 9. News of China’s potential reopening and the discontinuation of COVID-19 testing in public venues extended China-based stocks month-long rally.

Catalyzed last week by the potential jump in China’s manufacturing and economic activity from its less restrictive COVID-19 policies, Zoomlion Heavy Industry Co. (1157 HK, 2.28% weight as of December 9), a construction equipment manufacturer, rose 8.98%. During the same period, Legend Holdings Corp. (3396 HK, 1.97% weight as of December 9), an IT developer for Chinese financial firms, and China Railway Signal (3969 HK, 2.09% weight as of December 9), a railroad systems manufacturer, both gained 7.54% and 4.85%, respectively, according to ALPS.

For more news, information, and analysis, visit the ETF Building Blocks Channel.

vettafi.com owned by VettaFi, which also owns the index provider for EDOG. VettaFi is not the sponsor of EDOG, but VettaFi’s affiliate receives an index licensing fee from the ETF sponsor.

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