iShares S&P SmallCap 600 Growth ETF (NASDAQ: IJT)

에 대한 최신 뉴스 iShares S&P SmallCap 600 Growth ETF (NASDAQ:IJT)

iShares S&P SmallCap 600 Growth ETF

iShares S&P Small-Cap 600 Growth ETF

Industrials

Financial Services

Healthcare

Technology

Consumer Cyclical

Real Estate

Consumer Defensive

Energy

Communication Services

Basic Materials

Utilities

Other

The Fund seeks to track the investment results of the S&P SmallCap 600 Growth Index (the Underlying Index), which measures the performance of the small-capitalization growth sector of the U.S. equity market. It is a subset of the S&P SmallCap 600 (the Parent Index) and consists of those stocks in the Parent Index exhibiting the strongest growth characteristics, as determined by S&P Dow Jones Indices LLC (the Index Provider or SPDJI), a subsidiary of S&P Global, Inc. The growth characteristics used by the Index Provider include three-year change in earnings per share over price per share, three-year sales-per-share growth rate and momentum (12-month percentage share price change). To the extent that earnings, sales and price data is not available for the above-listed time periods, the Index Provider will use shorter time periods in accordance with the Index Provider's methodology. The Underlying Index represented approximately 51 percent of the market capitalization of the Parent Index as of March 31, 2024. As of March 31, 2024, stocks must have a market capitalization between dollar 900 million and dollar 5.8 billion for initial inclusion in the Parent Index; this range and constituents' market capitalization may fluctuate depending on the overall level of the equity markets.

Ati Inc

Mueller Industries Inc

Sps Commerce

Fabrinet

Ensign Group

Meritage Corporation

Carpenter Technology Corp

Spx Corp

Installed Buildi

Federal Signal Corp

Alaska Air Group Inc.

Glaukos Corp.

Brinker International Inc

Hims & Hers Health Inc

Armstrong World Industries Inc

Merit Medical Systems Inc

Badger Meter, Inc.

Aci Worldwide Inc

Corcept Therapeutics Inc

Essential Properties Realty Trust Inc

Ryman Hospitality Properties,Inc

Stride Inc

Interdigital Inc

Dycom Industries Inc

It will take more than one month for value stocks to truly shed their laggard ways, but notable is the fact that at the large-cap level, value outperformed growth in July. Large-cap value outperforming growth hasn&#39;t been a regular occurrence <a href="https://www.benzinga.com/trading-ideas/long-ideas/18/08/12135476/what-could-spark-value-etfs-back-to-life">during this bull market</a>.
While large-cap value may finally be showing signs of life, investors looking to stick with growth stocks don&#39;t need to fret. Small-cap stocks and exchange traded funds dedicated to the growth factor held up well last month.
<h3>What Happened</h3>
&ldquo;In July, the total return of the <a href="https://us.spindices.com/indices/equity/sp-smallcap-600-growth">S&amp;P SmallCap 600 Growth</a>&nbsp;was 3.75%, which was 1.15% higher than the total return of 2.60% generated by the <a href="https://us.spindices.com/indices/equity/sp-smallcap-600-value">S&amp;P SmallCap 600 Value</a>,&rdquo; said <a href="http://www.indexologyblog.com/2018/08/02/growth-is-still-hot-only-in-small-caps/">S&amp;P Dow Jones Indices</a> in a recent note. &ldquo;This is interesting since typically growth does not outperform value in small caps when value outperforms growth in large and mid caps.&rdquo;
The iShares S&amp;P Small-Cap 600 Growth ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ijt#NASDAQ">IJT</a>) is one of the ETFs that tracks the S&amp;P SmallCap 600 Index. That fund is up nearly 17 percent year-to-date while the broader S&amp;P SmallCap 600 Index is up 13.38 percent.
Data suggest it&#39;s rare that growth&#39;s outperformance of value when confined to the small-cap universe is rare.
<h3>Why It&#39;s Important</h3>
&ldquo;In 255 months, going back to May 1997, there are only 17 times when growth outperformed value in only small caps,&rdquo; according to S&amp;P Dow Jones. &ldquo;It is even rarer to find growth performing better than value in just small caps with the current magnitude of outperformance.&nbsp; It was in Sep. 2005, almost 13 years ago, when the outperformance of small cap growth over value was this big while value outperformed growth in large and mid caps.&rdquo;
Potential for outperformance by small-cap growth stocks is often reliant on the healthcare and technology sectors. IJT reflects as much, allocating over 35 percent of its combined weight to those sectors. The ETF&#39;s largest sector allocation is 21.64 percent to industrials.
Some investors may believe growth stocks are more volatile than broader benchmarks, but IJT&#39;s three-year <a href="https://www.ishares.com/us/products/239773/">standard deviation 13.46 percent</a> is 30 basis points below the same metric on the S&amp;P SmallCap 600 Index.
<h3>What&#39;s Next</h3>
If small-cap health care and industrial names keep performing well, it would be reasonable to expect small-cap growth to do the same.
&ldquo;Also industrials and health care are the two most overweighted sectors in small caps when comparing growth to value,&rdquo; according to S&amp;P Dow Jones. &ldquo;Health care has 13.2% more weight in growth than value in small caps, while small cap industrials weigh 3.6% more in growth than value.&rdquo;
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/08/12135435/more-leveraged-fang-etns-are-here">More Leveraged FAANG ETNs Arrive</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/08/12135476/what-could-spark-value-etfs-back-to-life">Why Value ETFs Can Bounce Back</a>

Long Ideas

Broad U.S. Equity ETFs

Small Cap Analysis

Trading Ideas

ETFs

iShares S&P SmallCap 600 Growth Index Fund

Growth Factor Still Working With Small-Caps

It&rsquo;s been a turbulent first half of 2018 for investors, with the return of stock market volatility and a stream of impactful geopolitical headlines. Now that the second half of the year has&nbsp;begun, here&rsquo;s a look at which&nbsp;investing ideas have been working so far this year.
<h3>U.S. Stocks</h3>
The U.S. stock market has been solid in the first half of 2018, although stocks cooled following a big gain in the opening weeks of the year. The S&amp;P 500 is now up just 1.4 percent year-to-date, but some stocks have done much better than others. Here are the five best-performing stocks in the S&amp;P 500 year-to-date:
<ul>
<li>Fossil Group Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fosl#NASDAQ">FOSL</a>) up 245.8 percent.</li>
<li>ABIOMED, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/abmd#NASDAQ">ABMD</a>) up 118.2 percent.</li>
<li>Netflix, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) up 103.9 percent.</li>
<li>Twitter, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/twtr#NYSE">TWTR</a>) up 81.8 percent.</li>
<li>Tripadvisor Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/trip#NASDAQ">TRIP</a>) up 61.6 percent.</li>
</ul>
<h3>Market Sectors</h3>
The market has been a mixed bag on a sector-by-sector level in 2018. Here are the SPDR sector ETFs that have been working this year:
<ul>
<li>Consumer Discretionary SPDR (ETF) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xly#NYSE">XLY</a>) up 10.7 percent.</li>
<li>Technology Select Sector SPDR Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlk#NYSE">XLK</a>) up 8.6 percent.</li>
<li>Energy Select Sector SPDR (ETF) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xle#NYSE">XLE</a>) up 5 percent.</li>
<li>Health Care SPDR (ETF) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlv#NYSE">XLV</a>) up 0.9 percent.</li>
<li>COMMUNICAT SVS SLCT SEC SPDR ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlc#NYSE">XLC</a>) up zero percent.</li>
</ul>
<h3>Asset Classes</h3>
In terms of the best-performing asset classes of the year, stocks and oil have been pockets of strength in an otherwise weak market. Here&rsquo;s a look at ETFs representing the best-performing asset classes in&nbsp;the first half of the year:
<ul>
<li>United States Oil Fund LP (ETF) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uso#NYSE">USO</a>): up 25.4 percent.</li>
<li>iShares S&amp;P 500 SmallCap600 Growth (ETF) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ijt#NASDAQ">IJT</a>): up 11.4 percent.</li>
<li>PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>): up 10.6 percent.</li>
<li>iShares S&amp;P SmallCap 600 Index (ETF) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijr#NYSE">IJR</a>): up 9.3 percent.</li>
<li>iShares Russell 2000 Index (ETF) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iwm#NYSE">IWM</a>): up 7.6 percent.</li>
</ul>
For investors looking for a more in-depth look at what has been working (and not working) in the first half of 2018, the image below <a href="https://www.bespokepremium.com/think-big-blog/first-half-2018-asset-class-performance-matrix/">from Bespoke</a> is a comprehensive breakdown of first-half asset performance.
<img alt="" src="/files/u81483/totalreturn.png" style="height:436px; width:480px" />
Related Links:
<a href="https://www.benzinga.com/general/education/18/07/11952323/a-2018-midyear-update-the-10-best-performing-s-p-500-stocks">A 2018 Midyear Update: The 10 Best-Performing S&amp;P 500 Stocks</a>
<a href="https://www.benzinga.com/top-stories/18/07/11957500/a-2018-midyear-update-the-10-worst-performing-s-p-500-stocks">A 2018 Midyear Update: The 10 Worst-Performing S&amp;P 500 Stocks</a>

Education

Markets

General

ABMD

FOSL

NFLX

TRIP

TWTR

Select Sector SPDR-Consumer Discretionary

The Best Performing Sectors, Assets In The First Half Of 2018

Broadly speaking, mutual fund companies that issue actively managed mid- and small-cap growth funds are getting away with highway robbery. Not only are these funds pricey to own, but their managers, undoubtedly highly paid, really are not all that good at their jobs.
Again, that is broadly speaking. Not all active mid- and small-cap growth funds are dogs, but statistics say plenty are, and the privilege of owning these dogs is not easy on investors&#39; wallets.<a href="http://trymsatoday.com/"> S&amp;P Capital IQ</a> said the average mid-cap growth mutual fund charges 1.3 percent a year, or $130 per $10,000 invested.
Data indicate that average fee is not warranted.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/03/7671049/hedge-funds-now-strongly-bullish-on-oil">Hedge Funds Now Strongly Bullish On Oil</a></bzrelatedlink>
&ldquo;Just 20 percent of all mid-cap growth and 12 percent of all small-cap growth funds outperformed the S&amp;P MidCap 400 Growth and the S&amp;P SmallCap 600 Growth indices, respectively. Meanwhile, 51 percent of all large-cap growth funds outperformed the S&amp;P 500 Growth index,&rdquo; said S&amp;P Capital IQ.
<h3>A Different Approach: ETFs</h3>
Exchange-traded funds <a href="http://www.benzinga.com/news/15/09/5829832/active-management-mediocrity-continues">can help investors </a>dodge the high fees that are common with active growth funds. For example, an investor wanting exposure to the S&amp;P MidCap 400 Growth Index can tap the iShares S&amp;P MidCap 400 Growth (ETF) (NYSE: <a class="ticker" href="/stock/ijk#NYSE">IJK</a>). That $4.8 billion ETF charges just 0.25 percent a year, $25 per $10,000 invested.
IJK, which allocates about 44 percent of its combined weight to financial services and technology stocks, is up 28.9 percent over the past three years.
As S&amp;P Capital IQ noted, actively managed small-cap growth funds have some performance issues as well, and these funds are not cheap, either.
&ldquo;Meanwhile, small-cap growth funds lost 2.2 percent in 2015, lagging the S&amp;P SmallCap 600 growth index by 497 basis points; the average small-cap growth fund has a 1.4 percent expense ratio,&rdquo; said the research firm. 
Investors looking for access to the S&amp;P SmallCap 600 Growth Index, one of the most widely followed small-cap growth benchmarks, can turn to the $3 billion iShares S&amp;P SmallCap 600 Growth (ETF) (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>). Like its aforementioned mid-cap counterpart, the iShares S&amp;P Small-Cap 600 Growth ETF charges just 0.25 percent per year.
Small-cap growth often means significant exposure to healthcare stocks, and IJT reflects that with a nearly 20 percent weight to that sector, the ETF&#39;s second-largest sector weight. Financial services command 23.8 percent of IJT&#39;s weight.
IJT is up 33.4 percent over the past three years, an advantage of 200 basis points over the S&amp;P SmallCap 600 Index.
Image Credit: <a href="https://pixabay.com/en/cigarettes-ashtray-money-621346/">Public Domain</a>

Don't Pay Up For Actively Managed Growth Funds

<div class="entry-content">

		Finding the best ETFs is an increasingly difficult task in a world with so many ETFs to choose from.

		You Cannot Trust ETF Labels

		There are at least 38 different large cap value ETFs and at least 216 ETFs across all styles. Do investors need that many choices? How different can the ETFs be?

		Those 38 large cap value ETFs are very different. With anywhere from 30 to 1,351 holdings, many of these ETFs have drastically different portfolios, which creates drastically different investment implications.

		I am sure that large cap value ETFs hold many of the same big stocks such as International Business Machines (NYSE: <a class="ticker" href="/stock/ibm#NYSE">IBM</a>), Chevron (NYSE: <a class="ticker" href="/stock/cvx#NYSE">CVX</a>) and 3M (NYSE: <a class="ticker" href="/stock/mmm#NYSE">MMM</a>). However, investors need to know what else those ETFs hold before they can say they have done their due diligence.

		The same is true for the ETFs in any style as each offers a very different mix of good and bad stocks. Some styles have lots of good stocks and offer lots of good ETFs. The opposite is true for others while some styles lie in between with a fair mix of good and bad stocks. For example, large cap value, per my <a href="http://blog.newconstructs.com/2012/10/11/investment-style-rankings-for-etfs-mutual-funds/">4Q Style Rankings report</a>, ranks fourth out of 12 styles when it comes to providing investors with quality ETFs. Large cap blend ranks first. Small cap value ranks last. Details on the <a href="http://blog.newconstructs.com/2012/10/22/4q-best-worst-etfs-mutual-funds-by-style-recap/">Best &amp; Worst ETFs in each style are here</a>.

		The bottom line is that investors cannot trust ETF labels or names. They do not tell you what you are getting when you buy an ETF.

		Paralysis By Analysis

		I firmly believe ETFs for a given style should not all be that different. I think the large number of large cap value (or any other) style of ETFs hurts investors more than it helps because too many options can be paralyzing. It is simply not possible for the majority of investors to properly assess the quality of so many ETFs. Analyzing ETFs, done with the proper diligence, is far more difficult than analyzing stocks because it means analyzing all the stocks within each ETF. As stated above, that can be as many as 1,351 stocks for one ETF.

		Any investor worth his salt knows that knowing the holdings of an ETF is critical to finding the best ETF.

		The Danger Within

		Why do investors need to know the holdings of ETFs before they buy? They need to know to be sure they do not buy an ETF that might blow up. Buying an ETF without analyzing its holdings is like buying a stock without analyzing its business and finances. As Barron&rsquo;s says, investors should know the <a href="http://www.newconstructs.com/nc/news/display.htm?task=view&amp;newsItemId=402880a82dd6e460012dd754baf60001">Danger Within</a>. No matter how cheap, if it holds bad stocks, the ETF&rsquo;s performance will be bad.

		PERFORMANCE OF ETF&rsquo;s HOLDINGs = PERFORMANCE OF ETF

		Finding the Style ETFs with the Best Holdings

		Figure 1 shows my top rated ETF for each style. Importantly, my <a href="http://blog.newconstructs.com/2011/11/23/predictive-fund-rating-methodology/">ratings on ETFs</a> are based primarily on my <a href="http://blog.newconstructs.com/2011/11/22/stock-rating-system-new-constructs-methodology-for-rating-equities/">stock ratings</a> of their holdings. My firm covers over 3000 stocks and is known for the due diligence we do for each stock we cover. Accordingly, our coverage of ETFs leverages the diligence we do on each stock by rating ETFs based on the aggregated ratings of the stocks each ETF holds. Here is a <a href="http://blog.newconstructs.com/wp-content/uploads/2012/12/SPHQ-Predictive-ETF-Rating-2012-12-12.pdf">sample ETF report</a>.

		PowerShares QQQ (NYSE: <a class="ticker" href="/stock/qqq#NYSE">QQQ</a>) is not only the top-rated large cap growth ETF, it is the overall top-rated ETF of the 216 style ETFs ETFs I cover. Only the large cap blend, large cap value and all cap blend styles contain any Attractive (i.e. 4-star) rated ETFs while the best every other style can offer is a Neutral or 3-star ETF.

		Sometimes, you get what you pay for.

		It is troubling to see one of the best style ETFs, PowerShares Buyback Achievers (NYSE: <a class="ticker" href="/stock/pkw#NYSE">PKW</a>) have just $206 million in assets. The largest ETF in all cap blend, Vanguard Total Stock Market ETF (NYSE: <a class="ticker" href="/stock/vti#NYSE">VTI</a>), has nearly $24 billion in assets thought it only gets a Neutral (3-star) rating. VTI&rsquo;s expense ratio at 0.07% is much lower than PKW&rsquo;s at 0.66%, but as I state above, no matter how cheap an ETF, if it does not hold good stocks it will not perform well. Sometimes, you get what you pay for.

		Another example of how to be sure you get what you pay for: PowerShares S&amp;P 500 High Quality Portfolio (NYSE: <a class="ticker" href="/stock/sphq#NYSE">SPHQ</a>) with a 4-star rating is the best large cap blend ETF but it only has $178 million in assets. iShares Core S&amp;P 500 ETF (NYSE: <a class="ticker" href="/stock/ivv#NYSE">IVV</a>) and SPDR S&amp;P 500 (SPY) soak up the majority of the assets in that style even though they earn only 3-star ratings.

		I cannot help to wonder if more investors would buy SPHQ is they knew it has a superior portfolio of stocks. It is more expensive than IVV and SPY, but as I have stated, low fees cannot growth wealth, only good stocks can.

		Sometimes, you DON&rsquo;T get what you pay for.

		The smallest ETF in Figure 1 is Vanguard S&amp;P Small-Cap 600 Growth ETF (NYSE: <a class="ticker" href="/stock/viog#NYSE">VIOG</a>) with just $14 million in assets. Sadly, other small cap growth ETFs with more assets and similar portfolios (virtually identical top 5 holdings) charge more than VIOG. In other words, small cap growth ETF investors are paying extra fees for no reason.

		Specifically, at 0.28%, both SPDR S&amp;P 600 Small Cap Growth ETF (NYSE: <a class="ticker" href="/stock/slyg#NYSE">SLYG</a>) with $161 million in assets and iShares S&amp;P SmallCap 600 Growth Index Fund (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>) with $1,579 million in assets charge more than VIOG, which charges 0.22%. Sometimes, you do not get what you pay for.

		The worst ETF in Figure 1 is small cap blend&rsquo;s iShares Core S&amp;P Small-Cap ETF (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>), which gets a Dangerous (2-star) rating. One would think ETF providers could do better for this style.

		I recommend investors only buy ETFs with more than $100 million in assets. You can find more liquid alternatives for the other funds on my <a href="http://www.newconstructs.com/nc/fundscreener/fund-screener.htm">free ETF screener</a>.
<div>

			Figure 1: Best Style ETFs 
</div>
<div>

			<a href="http://blog.newconstructs.com/wp-content/uploads/2012/12/HowFindBestStyleETFs.jpg"><img alt="" class="aligncenter size-full wp-image-5142" height="180" src="http://blog.newconstructs.com/wp-content/uploads/2012/12/HowFindBestStyleETFs.jpg" title="HowFindBestStyleETFs" width="495" /></a>

			Sources: New Constructs, LLC and company filings
</div>

		Covering All The Bases, Including Costs

		My ETF rating also takes into account the <a href="http://blog.newconstructs.com/2011/10/28/total-annual-costs-methodology/">total annual costs</a>, which represents the all-in cost of being in the ETF. This analysis is simpler for ETFs than funds because they do not charge front- or back-end loads and transaction costs are incurred directly. There is only the expense ratio, which is normally quite low. However, my ratings penalize those ETFs with abnormally high expense ratios or any other hidden costs.

		Top Stocks Make Up Top ETFs

		One of my favorite holdings in SPHQ is Kellogg (NYSE: <a class="ticker" href="/stock/k#NYSE">K</a>), which gets my Attractive (4 star) rating. This company earns the rare distinction of generating positive <a href="http://blog.newconstructs.com/2010/08/05/economic-versus-accounting-earnings/">economic earnings</a> every year since my model begins in 1998. Moreover, since 1998, Kellogg&rsquo;s economic earnings have grown over 260% or 8% compounded annually. That is a very steady cash-generating machine. However, the stock&rsquo;s valuation seems to overlook the company&rsquo;s profitable history. At ~$60/share, the current market valuation implies the company&rsquo;s cash flows (<a href="http://blog.newconstructs.com/2012/11/08/nopat-definition-and-formulae-for-net-operating-profit-after-tax-and-nopat-margin/">NOPAT</a>) will permanently decline by 6%. A valuation that implies permanent profit decline and a history of strong profit generation make a nice risk/reward combination.

		One of my favorite holdings in the Dow Jones Industrial Average ETF (DIA), one of four ETFs in Figure 1 to get my 4-star rating, is Exxon Mobil (NYSE: <a class="ticker" href="/stock/xom#NYSE">XOM</a>). In &ldquo;<a href="http://blog.newconstructs.com/2012/08/07/slow-steady-wins-the-race-buy-xom/">Slow and Steady Wins the Race</a>&rdquo;, I explain how XOM has created enormous value for shareholders over the last quarter century. Buying Exxon Mobil (XOM) now is one of the easiest calls in the market these days. With superior cash flows, a cheap valuation and one of the strongest competitive positions in the business world, it is hard to make a straight-faced argument against owning this stock anywhere below $100. My model shows the stock is worth $140 if one assumes profits never grow from 2011 levels, i.e. the &ldquo;no-growth&rdquo; value of the stock. This stock offers nice risk/reward too.

		Disclosure: I own XOM. I receive no compensation to write about any specific stock, style or theme.
</div>

SLYG

SPHQ

VIOG

How To Find the Best Style ETFs

DineEquity (NYSE: <a class="ticker" href="/stock/din#NYSE">DIN</a>) is scheduled to report fourth-quarter 2011 results tomorrow, March 1, before the markets open. The stock is up nearly 20% in the past 90 days. The company has been reinvesting in the business and is expected to do so through 2012. And speculation has it initiating a dividend in the next two or three years. But the restaurant operator also lowered its same-store sales forecasts for the year when it reported results back in November. 

Analysts are looking for DineEquity to report that its per-share earnings came to $0.85 for the quarter and that revenue totaled $242.3 million. In the same quarter of last year, the company posted $0.59 per share and $299.8 million in sales. Note that the EPS estimate was a penny less some 60 days ago. And out of the past six reporting periods, DineEquity topped consensus EPS estimates three times and fell short three times.

Looking back to the previous quarter, DineEquity said adjusted earnings came to $1.04 per share, an 8.6% increase from the same period of the previous year. That topped analysts' expectations. But sales for the quarter dropped 21.2% year over year to $264.5 million. Same-store sales were down from both the Applebee's and IHOP chains, reversing their previous trends. The company attributed the higher quarterly profit in part to lower interest expenses. But it also said it expects food costs to remain high in 2012.

For the full year, the analysts' consensus estimate calls for $4.24 per share earnings, up from $3.50 the previous year. That EPS estimate has also inched up a penny in the past 60 days. And DineEquity's full-year revenues are expected to have decreased 19.4% year over year to $1.1 billion.

The Company

Glendale, Calif.-based DineEquity operates about 2,000 Applebee's Neighborhood Grill and Bar locations and about 1,500 IHOP, or International House of Pancakes, restaurants in the U.S. and internationally. Applebee's fits in the casual dining category and IHOP in the family dining category of the restaurant industry. The company was founded in 1976 and has a market cap of $944.8 million.

Competitors include Brinker International (NYSE: <a class="ticker" href="/stock/eat#NYSE">EAT</a>), Cracker Barrel Old Country Store (NASDAQ: <a class="ticker" href="/stock/cbrl#NASDAQ">CBRL</a>) and Denny's (NASDAQ: <a class="ticker" href="/stock/denn#NASDAQ">DENN</a>). The first two restaurant operators posted fourth-quarter EPS that were better than analysts expected, but Denny's fell short of estimates.

See also: <a href="http://www.benzinga.com/news/earnings/12/01/2284600/brinker-international-down-8-after-reporting-earnings">Brinker International Down 8% After Reporting Earnings</a> and <a href="http://www.benzinga.com/analyst-ratings/analyst-color/12/02/2351962/update-feltl-and-company-downgrades-dennys-to-buy">Feltl &amp; Co. Downgrades Denny's to Buy</a>

During the three months that ended in December, DineEquity opened its first IHOP Express in San Diego and it named a new vice president in charge of government affairs. IHOP locations were open on Thanksgiving and Christmas days, and Applebee's appointed a new senior vice president of operations.

See also: <a href="http://www.benzinga.com/news/11/10/1985832/founder-of-applebees-neighborhood-grill-bar-sells-40-locations-to-affiliate-of-ih">Founder of Applebee's Neighborhood Grill &amp; Bar Sells 40 Locations</a>

Performance

DineEquity's forward earnings multiple is less than the industry average P/E, and its PEG ratio is less than the industry average. The company has a long-term earnings per share growth forecast of 11.0%, and its operating margin is better than the industry average. Though short interest is 8.4% of the float, half of the eight analysts surveyed who follow the stock rate it a Buy or Strong Buy. None recommend selling shares. But their mean price target on the shares is only 3.4% higher than the current share price.

At Tuesday's close, the share price was 28.4% higher than six months ago but still 12.2% below the 52-week high of $59.64. The share price is well above the 50-day and 200-day moving averages, and the former crossed above the latter last week. The stock has outperformed Brinker International and Denny's, as well as the broader markets, over the past six months.

<div id="action-items">ACTION ITEMS:

Bullish: Investors interested in exchange traded funds invested in DineEquity might want to consider the following trades:

<ul><li>PowerShares S&amp;P Small Cap Consumer Discretionary (NASDAQ: <a class="ticker" href="/stock/pscd#NASDAQ">PSCD</a>) is about 15% higher year to date.</li>
<li>PowerShares Fundamental Pure Small Growth (NYSE: PXSG) is more than 11% higher year to date.</li>
<li>iShares S&amp;P Small Cap 600 Growth (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>) is more than 9% higher year to date.</li>
<li>SPDR S&amp;P 600 Small Cap Growth ETF (NYSE: <a class="ticker" href="/stock/slyg#NYSE">SLYG</a>) is about 9% higher year to date.</li>
</ul>Bearish: Traders may prefer to consider these alternative positions in the same industry:

<ul><li>Buffalo Wild Wings (NASDAQ: <a class="ticker" href="/stock/bwld#NASDAQ">BWLD</a>) is up about 30% year to date.</li>
<li>PF Chang's China Bistro (NYSE: <a class="ticker" href="/stock/pfcb#NYSE">PFCB</a>) is up more than 27% year to date.</li>
<li>Red Robin Gourmet Burgers (NASDAQ: <a class="ticker" href="/stock/rrgb#NASDAQ">RRGB</a>) is up about 25% year to date.</li>
</ul>Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.</div>

Earnings

News

Short Ideas

BWLD

CBRL

DENN

PFCB

PSCD

RRGB

DineEquity Earnings Preview: Q4 EPS Up 30%, Sales Down 19% Expected

Coinstar (NASDAQ: <a class="ticker" href="/stock/cstr#NASDAQ">CSTR</a>) is scheduled to report third-quarter 2011 results Thursday, October 27, after the closing bell. The company's Redbox self-service DVD-rental business seems well positioned to pick up some of those customers who continue to abandon Netflix's (NASDAQ: <a class="ticker" href="/stock/nflx#NASDAQ">NFLX</a>) DVD-by-mail service following this summer's price change.

Analysts on average predict that Coinstar will report earnings of $0.88 per share, which is up 25.0% from the same quarter of last year. That EPS estimate is unchanged over the past 60 days. And note that Coinstar's earnings have not fallen short of consensus estimates in the past six quarters.

The consensus forecast also calls for the company to post revenues of $461.8 million, which would be a 21.5% increase from a year ago. Looking ahead to the current quarter, which will include the holiday season, analysts so far are looking for 23.0% year-over-year growth in revenues. And the forecast for the full year so far calls for revenues up 25.4% from a year ago, with per-share earnings 34.3% higher.

The Company

Coinstar provides automated retail services primarily in the United States, Canada, Puerto Rico, the United Kingdom, and Ireland. The Redbox business operates more than 31,000 DVD-rental kiosks, while the Coinstar business operates more than 18,000 self-service coin-counting kiosks. The company was founded in 1991 and has a market cap of $1.6 billion.

During the three months that ended in September, the company announced an additional $250 million in share buybacks, appointed a new member to its board and added videogames to an additional 5,000 Redbox kiosks.

Performance

The company has a long-term earnings per share growth forecast of 18.6% and its return of equity is 19.4%. While the P/E ratio is higher than the industry average, so is Coinstar's operating margin. The PEG ratio is 0.8. Eleven of 16 analysts who follow the stock consider it a Buy or Strong Buy, and they have a mean price target of $61.62 per share, which is more than 15% higher than the current share price.

The share price has surged about 26% in the past month but is still about 22% lower than the 52-week high of $67.56. The current share price is above the 50-day and 200-day moving averages. The stock has outperformed competitors such as Netflix and Western Union (NYSE: <a class="ticker" href="/stock/wu#NYSE">WU</a>) over the past six months.

Action Items:

Bullish: Investors interested in exchange traded funds invested in Coinstar might want to consider the following trades:

<ul><li>Rydex S&amp;P SmallCap 600 Pure Growth (NYSE: <a class="ticker" href="/stock/rzg#NYSE">RZG</a>) is more than 10% higher than a year ago.</li>
<li>iShares S&amp;P SmallCap 600 Growth (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>) is about 10% higher than a year ago.</li>
<li>PowerShares S&amp;P SmallCap Consumer Discretionary (NASDAQ: <a class="ticker" href="/stock/pscd#NASDAQ">PSCD</a>) is more than 5% higher than a year ago.</li>
</ul>

Bearish: Traders may want to consider these alternative positions:

<ul><li>ProShares UltraShort SmallCap600 (NYSE: <a class="ticker" href="/stock/sdd#NYSE">SDD</a>) is more than 7% higher than six months ago.</li>
<li>ProShares Short SmallCap600 (NYSE: <a class="ticker" href="/stock/sbb#NYSE">SBB</a>) is more than 7% higher than six months ago.</li>
</ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Previews

CSTR

Rydex ETF Trust S&P Smallcap 600 Pure Growth ETF

Earnings Preview: Coinstar Still Cashing In

Coinstar (NASDAQ: <a class="ticker" href="/stock/cstr#NASDAQ">CSTR</a>) is scheduled to report its second-quarter 2011 results Thursday, July 28, after the markets close. Coinstar's Redbox DVD rental business may ultimately benefit from Netflix's (NASDAQ: <a class="ticker" href="/stock/nflx#NASDAQ">NFLX</a>) recently announced price change, but for the second quarter, investors no doubt will be keeping an eye on the growth in rental revenue and in the number of kiosks.

Analysts are looking for the self-service kiosk operator to report earnings of $0.81 per share, which is up from $0.39 in the same period of last year. That estimate is also up from $0.79 per share 60 days ago. The analysts' forecast also calls for the company to post revenues of $445.9 million, an increase of 30.3% from a year ago. Note that is above Coinstar's recent revenue guidance.

Analysts have underestimated Coinstar's per-share earnings in the past five quarters; in the first quarter earnings results were more than double the consensus estimate. Also, analysts so far are looking for sequential and year-over-year growth of both earnings and revenue in the current quarter.

The Company

Bellevue, Washington-based Coinstar operates automated retail businesses under the Redbox self-service DVD rental (more than 30,000 kiosks) and Coinstar self-service coin-counting (about 19,000 kiosks) brands. The company's kiosks can be found in the United States, Canada, Puerto Rico, the United Kingdom, and Ireland. The company was founded in 1991.

During the three months that ended in June, Redbox announced that it would begin offering video game rentals, and Coinstar announced a deal to put kiosks in Safeway (NYSE: <a class="ticker" href="/stock/swy#NYSE">SWY</a>) grocery stores. Coinstar also appointed a new chief customer officer.

Performance

The company has a long-term earnings per share growth forecast of 22.3%. Its forward P/E ratio estimate is less than the trailing P/E ratio, and it has a PEG ratio of 0.7. The consensus recommendation has been to buy the stock for more than 90 days; 12 of 18 analysts now rate CSTR a Buy or Strong Buy. Their mean price target (where analysts expect the share price to go) is currently $62.88 per share.

The share price closed Tuesday at $51.68, down from about $60 late last week, following lowered revenue guidance and the announcement of an executive departure. But shares are still 25.9% higher than six months ago. In that time, the stock has outperformed the specialty retail industry average and the broader markets, but it has underperformed Netflix.

Action Items:

Bullish: Traders interested in exchange traded funds invested in Coinstar might want to consider the following trades:

<ul><li>Vanguard Small-Cap Growth Index Fund (NYSE: <a class="ticker" href="/stock/vbk#NYSE">VBK</a>): up 32.9% in the past year</li>
<li>iShares Russell 2000 Growth Index Fund (NYSE: <a class="ticker" href="/stock/iwo#NYSE">IWO</a>): up 30.0% in the past year</li>
<li>iShares S&amp;P SmallCap 600 Growth Index Fund (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>): up 29.4% in the past year</li></ul>

Bearish: Traders looking for contrarian option might want to consider these positions:

<ul><li>ProShares UltraShort Russell2000 Growth (NYSE: <a class="ticker" href="/stock/sdd#NYSE">SKK</a>): up 150.1% year to date</li>
<li>ProShares UltraShort SmallCap600 (NYSE: <a class="ticker" href="/stock/sdd#NYSE">SDD</a>): up 122.3% year to date</li>
<li>Direxion Daily Small Cap Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tza#NYSE">TZA</a>): up 119.1% year to date</li></ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

Coinstar Earnings Preview: Strong EPS, Revenue Results Expected

Buffalo Wild Wings (NASDAQ: <a class="ticker" href="/stock/bwld#NASDAQ">BWLD</a>) is scheduled to report its second-quarter 2011 results Tuesday, July 26, after the closing bell. The question for investors is whether the quick-casual restaurateur can top consensus earnings estimates for a sixth straight quarter.

Analysts are looking for Buffalo Wild Wings to report per-share earnings of $0.60, which is a 16.7% rise from the same period of last year. That EPS estimate was $0.59 just 60 days ago. The consensus forecast also calls for the company to post revenues of $176.7 million, an increase of 21.3% from a year ago.

As noted above, analysts have underestimated Buffalo Wild Wings earnings in recent quarters; the beat has been by as much as eight cents per share. Also, analysts so far are looking for similar year-over-year growth of earnings and revenue in the current quarter.

The Company

Minneapolis-based Buffalo Wild Wings owns, operates and franchises more than 750 Buffalo Wild Wings Grill &amp; Bar restaurants in about 45 states. The menu offers more than a dozen unique dipping sauces to accompany with the spicy wings, as well as other items such as chicken tenders and legs. The eateries also offer appetizers, burgers, tacos, salads and desserts, along with beer, wine and other beverages. The company was founded in 1982.

During the three months that ended in June, the company opened a location in Oshawa, Ontario, its first in Canada. It also entered into a service agreement with Buzztime, an interactive digital entertainment network.

Performance

The company has a return on equity of 16.4% and a long-term earnings per share growth forecast of 21.3%. The company boosted its gross margin by 3.1 percentage points in the previous quarter. The consensus recommendation is to buy BWLD; four of 13 analysts rate it a Strong Buy. Their mean price target (or where analysts expect the share price to go) is $70.78 per share.

At $67.32, the share price has pulled back a bit from the recent 52-week high of $69.52, but still is 53.5% higher than at the beginning of the year. That price also is above the 50-day and 200-day moving averages. Year to date, the stock has outperformed the restaurant industry average, as well as the competitors such as BJ's Restaurants (NASDAQ: <a class="ticker" href="/stock/bjri#NASDAQ">BJRI</a>), California Pizza Kitchen (NASDAQ: <a class="ticker" href="/stock/cpki#NASDAQ">CPKI</a>) and Cheesecake Factory (NASDAQ: <a class="ticker" href="/stock/cake#NASDAQ">CAKE</a>).

Action Items:

Bullish: Traders interested in exchange traded funds invested in Buffalo Wild Wings might want to consider the following trades:

<ul><li>iShares S&amp;P SmallCap 600 Index Fund (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>): up 29.5% in the past year</li>
<li>iShares Russell 2000 Index Fund (NYSE: <a class="ticker" href="/stock/iwm#NYSE">IWM</a>): up 29.4% in the past year</li>
<li>iShares S&amp;P SmallCap 600 Growth Index (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>): up 34.6% in the past year</li>
<li>iShares Russell 2000 Growth Index Fund (NYSE: <a class="ticker" href="/stock/iwo#NYSE">IWO</a>): up 35.9% in the past year</li></ul>

Bearish: Traders looking for a contrarian option might want to consider these alternative positions:

<ul><li>ProShares UltraShort SmallCap600 (NYSE: <a class="ticker" href="/stock/sdd#NYSE">SDD</a>): up 104.6% in the past year</li>
<li>ProShares UltraShort Russell2000 (NYSE: <a class="ticker" href="/stock/twm#NYSE">TWM</a>): up 101.1% in the past year</li>
<li>Direxion Daily Small Cap Bear 3X Shares (NYSE: <a class="ticker" href="/stock/tza#NYSE">TZA</a>): up 107.2% in the past year</li></ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

BJRI

CAKE

CPKI

Buffalo Wild Wings Earnings Preview: Double-Digit EPS Growth Expected

Wolverine World Wide (NYSE: <a class="ticker" href="/stock/www#NYSE">WWW</a>) will be reporting its second-quarter 2011 results Tuesday, July 12, before the markets open. Investors will be watching to see if the Hush Puppy maker can continue its long string of quarterly earnings beats.

Analysts are looking for the company to report per-share earnings of $0.46, which is up from $0.39 per share in the same period of last year. The consensus earnings estimate is unchanged in the past 60 days. Analysts also expect to see revenues of $294.3 million, an increase of 14.0% from a year ago.

As mentioned, analysts have underestimated Wolverine World Wide quarterly earnings in the past few years. And analysts so far are looking for sequential and year-over-year growth of earnings and revenue in the current quarter.

The Company

Michigan-based Wolverine World Wide manufactures, markets, licenses, and distributes footwear, apparel, and accessories primarily in North America and Europe. Its products are available worldwide through department and specialty stores, independent distributors, Internet retailers, and about 90 company-owned retail stores in the U.S. and the UK.

During the three months that ended in June, the company reported record first-quarter results and raised its full-year guidance. The Cat Footwear division teamed with Mike Rowe, creator and host of TV's Dirty Jobs to offer a line of work boots.

Performance

The long-term earnings per share growth forecast is 13.5%, the return on equity is 20.8%, and the dividend yield is 1.0%. The P/E ratio is less than the industry average. The consensus recommendation is to buy the stock; three of 11 analysts rate it a Strong Buy.

The share price is about 38% higher than six months ago. During that time, the stock has outperformed competitors Deckers (NASDAQ: <a class="ticker" href="/stock/deck#NASDAQ">DECK</a>) and Skechers (NYSE: <a class="ticker" href="/stock/skx#NYSE">SKX</a>), as well as the industry average and the broader markets.

Action Items:

Bullish: Traders looking for exchange traded funds with positions in Wolverine World Wide might want to consider the following trades:

<ul><li> PowerShares S&amp;P SmallCap Consumer Discretionary Portfolio (NASDAQ: PSCD)</li>
<li> iShares S&amp;P SmallCap 600 Growth Index Fund (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>)</li></ul>

Bearish: Traders looking for stronger growth than Wolverine World Wide has to offer may want to consider these alternate positions:

<ul><li>Timberland (NYSE: <a class="ticker" href="/stock/tbl#NYSE">TBL</a>)</li>
<li>Crocs (NASDAQ: <a class="ticker" href="/stock/crox#NASDAQ">CROX</a>)</li></ul>

Neither Benzinga nor its staff recommend that you buy, sell, or hold any security. We do not offer investment advice, personalized or otherwise. Benzinga recommends that you conduct your own due diligence and consult a certified financial professional for personalized advice about your financial situation.

CROX

DECK

Wolverine World Wide Earnings Preview

Small cap ETFs are generally made up of investments in companies with less than $1 billion in market capitalization. Small Cap Growth ETFs offer investors diversification throughout a wide range of industries and the potential for very high returns. At the same time, these ETFs tend to move up and down with the market and are subject to high levels of volatility.
US Small Cap Growth ETFs, represented by the iShares Russell 2000 Small Cap Growth Index ETF (IWO), continued to outperform other styles of US Equity Assets with a one week return of 2.66% and a trend score of 13.93%. The small cap growth sector has also outperformed other US Equity Assets over a 52 week period, returning 24.31% in the past year. (See Russell Table)
<h2>US Equity Style Return</h2>
<h3>4/29/2011</h3>
 
<table border="2">
</table>
<table border="0" cellspacing="12">
<tbody>
<tr>
<th align="left">Assets Class</th>
<th>Symbols</th>
<th>04/27 Trend Score</th>
<th>04/20 Trend Score</th>
<th>Direction</th>
</tr>
<tr>
<td>Russell Smallcap Growth</td>
<td>IWO</td>
<td>14.01%</td>
<td>13.06%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Midcap Growth</td>
<td>IWP</td>
<td>12.57%</td>
<td>11.91%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Smallcap Index</td>
<td>IWM</td>
<td>11.05%</td>
<td>9.92%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Midcap Indedx</td>
<td>IWR</td>
<td>10.9%</td>
<td>10.15%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Midcap Value</td>
<td>IWS</td>
<td>9.84%</td>
<td>9.03%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Largecap Growth</td>
<td>IWF</td>
<td>9.25%</td>
<td>8.24%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Smallcap Value</td>
<td>IWN</td>
<td>8.56%</td>
<td>7.26%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Largecap Index</td>
<td>IWB</td>
<td>8.52%</td>
<td>7.38%</td>
<td>^</td>
</tr>
<tr>
<td>Russell Largecap Value</td>
<td>IWD</td>
<td>8.15%</td>
<td>6.96%</td>
<td>^</td>
</tr>
</tbody>
</table>
The trend score is defined as the average of 1,4,13,26 and 52 week total returns (including dividend reinvested).
<a rel="lightbox" href="http://www.myplaniq.com/LTISystem/article_toptablechart.action?tableName=USStyleReturnTableWed"> <img src="http://www.myplaniq.com/LTISystem/article_toptablechart.action?tableName=USStyleReturnTableWed" /> </a>
<a rel="lightbox" href="http://www.myplaniq.com/LTISystem/article_lowtablechart.action?tableName=USStyleReturnTableWed"> <img src="http://www.myplaniq.com/LTISystem/article_lowtablechart.action?tableName=USStyleReturnTableWed" /> </a>
 
<div id="smallCapGrowth" class="back">
<h2>U.S. Small Cap Growth</h2>
04/29/2011
<div class="dividerTop">
<table id="USSmallCapGrowth" class="tablesorter" border="1" cellspacing="1" cellpadding="2">
<thead>
<tr>
<th> Description </th>
<th> Symbol </th>
<th> 1 Yr </th>
<th> 3 Yr </th>
<th> 5 Yr </th>
<th> Avg. Volume(K) </th>
<th> 1 Yr Sharpe </th>
</tr>
</thead>
<tbody>
<tr class="even">
<td>Vanguard Small Cap Growth ETF</td>
<td><a href="http://www.myplaniq.com/LTISystem/jsp/fundcenter/View.action?symbol=VBK&amp;type=1&amp;includeHeader=true" target="_blank">VBK</a></td>
<td>27.33%</td>
<td>10.31%</td>
<td>6.52%</td>
<td>248</td>
<td>121.29%</td>
</tr>
<tr class="odd">
<td>iShares Russell 2000 Growth In</td>
<td><a href="http://www.myplaniq.com/LTISystem/jsp/fundcenter/View.action?symbol=IWO&amp;type=1&amp;includeHeader=true" target="_blank">IWO</a></td>
<td>26.68%</td>
<td>9.57%</td>
<td>4.89%</td>
<td>1,679</td>
<td>119.24%</td>
</tr>
<tr class="even">
<td>iShares S&amp;P SmallCap 600 Growth</td>
<td><a href="http://www.myplaniq.com/LTISystem/jsp/fundcenter/View.action?symbol=IJT&amp;type=1&amp;includeHeader=true" target="_blank">IJT</a></td>
<td>24.47%</td>
<td>8.6%</td>
<td>5.17%</td>
<td>187</td>
<td>121.82%</td>
</tr>
</tbody>
</table>

Among US Small Cap Growth ETFs, the Vanguard Small Cap Growth ETF (VBK) has shown the most strength, returning 27.33% in the past year. Others, including the iShares Russell 2000 Growth Index ETF (IWO) and the iShares S&amp;P SmallCap 600 Growth ETF (UT) have also provided investors with returns higher than 24%.
In recent periods, equities have experienced high levels of growth, leading many to speculate that a retraction is inevitable. If equity markets begin to lose value, US Small Cap Growth ETFs will certainly be impacted, as the performance of these ETFs correlate with general market conditions. Still, investors should expect strong returns from ETFs in this sector for the foreseeable future.

Symbols: <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=VBK&amp;count=0032'>VBK</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWO&amp;count=0027'>IWO</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IJT&amp;count=0024'>IJT</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWO&amp;count=0027'>IWO</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWM&amp;count=00110'>IWM</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWR&amp;count=0032'>IWR</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWS&amp;count=0025'>IWS</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWF&amp;count=0013'>IWF</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWN&amp;count=0027'>IWN</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWB&amp;count=0011'>IWB</a>, <a href ='http://www.myplaniq.com/LTISystem/f401k_symbols.action?symbol=IWD&amp;count=0015'>IWD</a>
 
Tickers: (NYSE: VBK) (NYSE: IWO) (NYSE: IJT) (NYSE: IWO) (NYSE: IWP) (NYSE: IWM) (NYSE: IWR) (NYSE: IWS) (NYSE: IWF) (NYSE: IWN) (NYSE: IWB) (NYSE: IWD)
 
Disclosure: MyPlanIQ does not have any business relationship with the company or companies mentioned in this article. It does not set up their retirement plans. The performance data of portfolios mentioned above are obtained through historical simulation and are hypothetical.
</div>
</div>
 
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QQQQ

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National Semiconductor Provides Good Funds in Their Retirement Plan

Amazon.com (Ticker: AMZN) is the largest online book and goods seller. It was founded in 1994 and is headquartered in Seattle, Washington. It pioneered in online ecommerce and has been very successful in its aggressive business expansion. When it comes to its retirement plan investment choices, however, it provides a somewhat U.S. centric and old style plan.
The <a rel="nofollow">Amazon.com 401K Plan</a> consists of 12 funds. These funds enable participants to gain exposure to 3 major assets: US Equity, Foreign Equity, Fixed Income. This is a very conventional retirement plan that has been clearly U.S. and developed countries centric.
<table style="width: 50%;" border="0">
<thead>
<tr>
<th align="left">Asset Class</th>
<th align="left">Ticker</th>
<th align="left">Name</th>
</tr>
</thead>
<tbody>
<tr>
<td width="40%">LARGE GROWTH</td>
<td width="20%">RGAEX</td>
<td width="40%">American Funds Growth Fund of Amer R4</td>
</tr>
<tr>
<td width="40%">LARGE BLEND</td>
<td width="20%">VFINX</td>
<td width="40%">Vanguard 500 Index Investor</td>
</tr>
<tr>
<td width="40%">LARGE GROWTH</td>
<td width="20%">VFTSX</td>
<td width="40%">Vanguard FTSE Social Index Inv</td>
</tr>
<tr>
<td width="40%">LARGE VALUE</td>
<td width="20%">VWNFX</td>
<td width="40%">Vanguard Windsor II</td>
</tr>
<tr>
<td width="40%">MID-CAP BLEND</td>
<td width="20%">VSEQX</td>
<td width="40%">Vanguard Strategic Equity</td>
</tr>
<tr>
<td width="40%">SMALL VALUE</td>
<td width="20%">AVPAX</td>
<td width="40%">American Beacon Small Cp Val Plan</td>
</tr>
<tr>
<td width="40%">Small Growth</td>
<td width="20%">VEXPX</td>
<td width="40%">Vanguard Explorer</td>
</tr>
<tr>
<td width="40%">Foreign Large Blend</td>
<td width="20%">JIEIX</td>
<td width="40%">Artio International Equity I</td>
</tr>
<tr>
<td width="40%">Intermediate-Term Bond</td>
<td width="20%">PTTRX</td>
<td width="40%">PIMCO Total Return Instl</td>
</tr>
<tr>
<td width="40%">Retirement Income</td>
<td width="20%">VTINX</td>
<td width="40%">Vanguard Target Retirement Income</td>
</tr>
<tr>
<td width="40%">US EQUITY</td>
<td width="20%">AMZN</td>
<td width="40%">Amazoncom Inc</td>
</tr>
<tr>
<td width="40%">Money Market</td>
<td width="20%"></td>
<td width="40%"> </td>
</tr>
</tbody>
</table>
 
The list of minor asset classes covered: Foreign Large Blend: EFA, VEU, GWL, PFA Intermediate-term Bond: AGG, CIU, BIV, BND Large Blend: IVV, IYY, IWV, VTI, VV, SPY, DLN, RSP, SCHX Large Growth: IVW, IWZ, JKE, VUG, ELG, QQQQ, RPG, SCHG Large Value: IVE, IWW, JKF, VTV, ELV, PWV, RPV, SCHV Mid-cap Blend: IJH, IWR, JKG, VO, MDY, EMM, PJG, DON, EZM, MVV Retirement Income: Small Growth: IJT, IWO, JKK, VBK, DSG, PWT, RZG, UKK Small Value: IJS, IWN, JKL, VBR, DSV, PWY, RZV, UVT Us Equity: IVV, IYY, IWV, VTI, VV, SPY, DLN, RSP, SCHX
<table border="0">
<thead>
<tr>
<th align="left">Asset Class</th>
<th>Number of funds</th>
</tr>
</thead>
<tbody>
<tr>
<td>REITs</td>
<td>0</td>
</tr>
<tr>
<td>Balanced Fund</td>
<td>1</td>
</tr>
<tr>
<td>Fixed Income</td>
<td>1</td>
</tr>
<tr>
<td>Commodity</td>
<td>0</td>
</tr>
<tr>
<td>Sector Fund</td>
<td>0</td>
</tr>
<tr>
<td>Foreign Equity</td>
<td>1</td>
</tr>
<tr>
<td>Emerging Market Equity</td>
<td>0</td>
</tr>
<tr>
<td>US Equity</td>
<td>8</td>
</tr>
<tr>
<td>Other</td>
<td>9</td>
</tr>
<tr>
<td>Total</td>
<td>12</td>
</tr>
</tbody>
</table>
As of Mar 21, 2011, this plan investment choice is rated as below average based on MyPlanIQ <a rel="nofollow">Plan Rating methodology </a> that was designed to measure how effective a plan's available investment funds are . It has the following detailed ratings:
Diversification -- Rated as average (43%) Fund Quality -- Rated as below average (19%) Portfolio Building -- Rated as average (38%) Overall Rating: 		below average (34%)
Since Amazon.com was founded in 1994, the world has gone through dramatic changes. Globalization has enabled countries like China, India and Brazil to emerge as strong economic powers in the world, partly due to the rapid development in internet and communication. Ironically, Amazon.com, while being aggressive to pursue its cutting edge business practice and technology, has provided its employees a very traditional retirement plan that lacks of other major asset exposure including emerging market stocks and real estate investments (REITs). This is reflected in the performance of the following model portfolios that adopt asset allocation strategies: strategic and tactical asset allocation strategies (<a rel="nofollow">SAA </a>and <a rel="nofollow">TAA </a>for participants in Amazon.com 401K Plan).
Strategic Asset Allocation is based on well known modern portfolio theory and its key features include: diversification, proper fund selection and periodically re-balancing.
Tactical Asset Allocation works on a diversified array of assets provided by funds in a plan and adjusts asset mixes based on market conditions such as asset price momentum utilized by TAA.
The chart and table below show the historical performance of moderate model portfolios employing strategic and tactical asset allocation strategies. For comparison purpose, we also include the moderate model portfolios of a typical 3 asset <a rel="nofollow">SIB (Simpler Is Better) plan </a>. This SIB plan has the following candidate index funds and their ETFs equivalent:
US Equity: SPY or VTI Foreign Equity: EFA or VEU Fixed Income: AGG or BND Performance chart (as of Mar 21, 2011)
<a rel="lightbox"> </a>
<a rel="lightbox" href="../LTISystem/article_viewchart.action?portfolioID=17111,17117,31628,31631"> <img style="margin: 6px;" title="chart" src="http://www.myplaniq.com/LTISystem/article_viewchart.action?portfolioID=17111,17117,31628,31631" alt="chart" /></a><a rel="lightbox" href="../LTISystem/article_viewchart.action?portfolioID=17111,17117,31628,31631"> </a>
Performance table (as of Mar 21, 2011)
<div id="show_Port_div" style="display: block;">
<table id="comparetablePort" class="tablesorter" style="width: 100%;" border="0" cellspacing="1" cellpadding="0">
<thead>
<tr>
<th class="header" width="40%">Portfolio Name</th>
<th class="header" width="10%">1Yr AR</th>
<th class="header" width="10%">1Yr Sharpe</th>
<th class="header" width="10%">3Yr AR</th>
<th class="header" width="10%">3Yr Sharpe</th>
<th class="header" width="10%">5Yr AR </th>
<th class="header" width="10%">5Yr Sharpe</th>
</tr>
</thead>
<tbody>
<tr>
<td><a> Amazon.com 401K Plan Tactical Asset Allocation Moderate</a></td>
<td>4%</td>
<td>32%</td>
<td>7%</td>
<td>70%</td>
<td>8%</td>
<td>70%</td>
</tr>
<tr>
<td><a> Amazon.com 401K Plan Strategic Asset Allocation Moderate</a></td>
<td>7%</td>
<td>60%</td>
<td>4%</td>
<td>26%</td>
<td>5%</td>
<td>30%</td>
</tr>
<tr>
<td><a> Three Core Asset ETF Benchmark Tactical Asset Allocation Moderate</a></td>
<td>-2%</td>
<td>-32%</td>
<td>2%</td>
<td>16%</td>
<td>4%</td>
<td>28%</td>
</tr>
<tr>
<td><a> Three Core Asset ETF Benchmark Strategic Asset Allocation Moderate</a></td>
<td>11%</td>
<td>69%</td>
<td>4%</td>
<td>13%</td>
<td>4%</td>
<td>14%</td>
</tr>
</tbody>
</table>
</div>
Currently Commodities, Real Estate and US Equity are doing well. Only US Equity is available to Amazon.com 401K Plan participants.
This plan beats the three asset benchmark by virtue of the US asset class choices. If would be a stronger plan with more fixed income choices and an additional asset class.
To summarize, Amazon.com 401K Plan would do well by their employees to consider reviewing their existing funds and adding additional asset classes such as REITs and emerging market stocks.
Symbols:<a href ='../../../../LTISystem/f401k_symbols.action?symbol=AMZN&amp;count=002'>AMZN</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=SPY&amp;count=00127'>SPY</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VTI&amp;count=0091'>VTI</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=EFA&amp;count=00142'>EFA</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VEU&amp;count=00124'>VEU</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=AGG&amp;count=00134'>AGG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=BND&amp;count=00144'>BND</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IVV&amp;count=0044'>IVV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IYY&amp;count=0036'>IYY</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IWV&amp;count=0041'>IWV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VV&amp;count=0036'>VV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=DLN&amp;count=0038'>DLN</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=RSP&amp;count=0040'>RSP</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=SCHX&amp;count=0036'>SCHX</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=CIU&amp;count=00104'>CIU</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=BIV&amp;count=0045'>BIV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=GWL&amp;count=0038'>GWL</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=PFA&amp;count=0035'>PFA</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IVE&amp;count=0035'>IVE</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IWW&amp;count=0032'>IWW</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=JKF&amp;count=0025'>JKF</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VTV&amp;count=0037'>VTV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=ELV&amp;count=0024'>ELV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=PWV&amp;count=0025'>PWV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=RPV&amp;count=0025'>RPV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=SCHV&amp;count=0027'>SCHV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IVW&amp;count=0040'>IVW</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IWZ&amp;count=0032'>IWZ</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=JKE&amp;count=0029'>JKE</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VUG&amp;count=0041'>VUG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=ELG&amp;count=0028'>ELG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=QQQQ&amp;count=0081'>QQQQ</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=RPG&amp;count=0029'>RPG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=SCHG&amp;count=0031'>SCHG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IJH&amp;count=0026'>IJH</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IWR&amp;count=0026'>IWR</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=JKG&amp;count=0017'>JKG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VO&amp;count=0026'>VO</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=MDY&amp;count=0072'>MDY</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=EMM&amp;count=0020'>EMM</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=PJG&amp;count=0017'>PJG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=DON&amp;count=0020'>DON</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=EZM&amp;count=0020'>EZM</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=MVV&amp;count=0016'>MVV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IJS&amp;count=0022'>IJS</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IWN&amp;count=0022'>IWN</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=JKL&amp;count=0013'>JKL</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VBR&amp;count=0021'>VBR</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=DSV&amp;count=0014'>DSV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=PWY&amp;count=0013'>PWY</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=RZV&amp;count=0013'>RZV</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=UVT&amp;count=0013'>UVT</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IJT&amp;count=0019'>IJT</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=IWO&amp;count=0020'>IWO</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=JKK&amp;count=0013'>JKK</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=VBK&amp;count=0024'>VBK</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=DSG&amp;count=0013'>DSG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=PWT&amp;count=0011'>PWT</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=RZG&amp;count=0010'>RZG</a>,<a href ='../../../../LTISystem/f401k_symbols.action?symbol=UKK&amp;count=0010'>UKK</a>,
Exchange Tickers:(AMZN),(SPY),(VTI),(EFA),(VEU),(AGG),(BND),(IVV),(IYY),(IWV),(VV),(DLN),(RSP),(SCHX),(CIU),(BIV),(GWL),(PFA),(IVE),(IWW),(JKF),(VTV),(ELV),(PWV),(RPV),(SCHV),(IVW),(IWZ),(JKE),(VUG),(ELG),(QQQQ),(RPG),(SCHG),(IJH),(IWR),(JKG),(VO),(MDY),(EMM),(PJG),(DON),(EZM),(MVV),(IJS),(IWN),(JKL),(VBR),(DSV),(PWY),(RZV),(UVT),(IJT),(IWO),(JKK),(VBK),(DSG),(PWT),(RZG),(UKK)
Disclosure:
MyPlanIQ does not have any business relationship with the company or companies mentioned in this article. It does not set up their retirement plans. The performance data of portfolios mentioned above are obtained through historical simulation and are hypothetical.
 
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AMZN

streetTRACKS Dow Jones U.S. Small Cap Value Index Fund

iShares S&P SmallCap 600 Value Index Fund

iShares Morningstar Small Value Index Fund

PowerShares Exchange Traded Fund Trust Dynamic Small Cap Value Portfolio

Rydex ETF Trust S&P Smallcap 600 Pure Value ETF

Online Pioneer Amazon.com Can Expand Its 401K Plan for More Diversification

One anecdote that was bandied about quite a bit in 2010 was that small-caps historically outperform their large-cap peers when the market is emerging from a recession and that did hold true last year with the Russell 2000 gaining 26%, almost double the return delivered by the S&amp;P 500.
Sounds good, but the fun for small-caps may just be getting started. Bloomberg ran an interesting piece on Monday that featured bullish outlooks on small-caps from BlackRock and JPMorgan and some very telling statistics.
Feel wary about small-caps? Take a look at these numbers: Profits among smaller companies rose five times faster than larger ones last year, and analysts' predictions show the outperformance will continue. The average company in the Russell 2000 posted a 165 percent gain in income last year, the most since 2003, as S&amp;P 500 profits rose 29 percent, according to data compiled by Bloomberg.
Add to that an expected 80% jump in profits in 2011 for small-caps, almost quadruple the estimate for S&amp;P 500 members and it's time to freshen up on worthwhile small-cap ETFs for 2011. 
Here are five non-leveraged domestic funds to get started with:
1) iShares S&amp;P SmallCap 600 Index Fund (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>): 
IJR won't follow the Russell 2000 directly because it is based on another index, but the fund is sensitive to the Russell 2000's gyrations. In fact, IJR is a great trader's ETF because it is pretty volatile as far as index funds go. Financial dominate the ETF at over 18%, but four other sectors get double-digit weights.
2) PowerShares S&amp;P SmallCap Energy ETF (Nasdaq: XLES): 
XLES is a direct energy play and despite the slack volume, this is another fund that can have wide intraday moves. Patience will prove to be a virtue with XLES as the ETF should be a winner due to $100 oil and more energy industry consolidation.
3) Vanguard SmallCap ETF (NYSE: <a class="ticker" href="/stock/vb#NYSE">VB</a>): 
VB is heavy on financials, materials and consumer goods names, making it not much different than IJR in that regard, but as always, Vanguard is able to deliver a compelling reason to give its ETFs a look: Low fees.
4) Rydex S&amp;P SmallCap 600 Pure Value ETF (NYSE: <a class="ticker" href="/stock/rzv#NYSE">RZV</a>): 
RZV emphasizes the same sectors at IJR and VB, but with slightly different weights and the key difference here is a focus on less speculative value names. The ETF is up 27.4% in the past year, so if offered barely a better return than the Russell 2000.
5) iShares S&amp;P SmallCap 600 Growth Index Fund (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>): 
If the stats proffered up by Bloomberg prove accurate, IJT could wind up being one of the ideal ways to get small-exposure this year as growth names are sure to benefit, if not be market leaders, as small-caps continue their ascent. Heavy on financials, IJT also offers solid exposure to tech and energy among other sectors.

Sector ETFs

Specialty ETFs

Five Domestic Small-Cap ETFs To Watch In 2011

Vanguard launched nine new ETFs on September 9, 2010 targeting the style-box matrix based on S&amp;P indexes with growth, value, and blend versions of the large cap S&amp;P 500, the S&amp;P Mid-Cap 400, and the S&amp;P Small-Cap 600.  All will compete with existing SPDRs and iShares products based on the same indexes.
Some analysts may brush these off as “me too” products, but Vanguard knows how to play “me too” better than anyone.  Most Vanguard products on the market fit this description, yet the company has quietly entrenched itself as the third largest ETF provider with more than $110 billion in assets.
Vanguard introduced its first two ETFs in 2001, then sat quietly until January 2004 when it introduced 14 new funds.  Only a licensing disagreement kept the 2004 batch from tracking S&amp;P indexes.  So Vanguard brought them out based on MSCI indexes.
Now, 34 years after the introduction of the <a href="https://personal.vanguard.com/us/funds/snapshot?FundId=0040&amp;FundIntExt=INT" target="_blank">Vanguard 500 Index Fund</a> (<a class="ticker" href="/stock/vfinx#">VFINX</a>), the ETF version has arrived.  According to a <a href="https://personal.vanguard.com/us/insights/article/fund-announcement-09092010" target="_blank">Vanguard article</a>, the new Vanguard S&amp;P 500 ETF (VOO) features an expense ratio of 0.06%, the lowest expense ratio in the industry for an ETF based on the S&amp;P 500 Index or any other large-capitalization domestic benchmark.  All nine of the new ETFs are eligible for commission-free trading by Vanguard brokerage clients.  The new ETFs:
<ul>
<li>Vanguard S&amp;P 500 ETF (VOO) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=0968&amp;FundIntExt=INT" target="_blank">VOO summary</a>) has an expense ratio of 0.06% and will directly compete with SPDR S&amp;P 500 (<a class="ticker" href="/stock/spy#">SPY</a>) and iShares S&amp;P 500 (<a class="ticker" href="/stock/ivv#">IVV</a>), which both have a 0.09% expense ratio.</li>
<li>Vanguard S&amp;P 500 Growth ETF (VOOG) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3341&amp;FundIntExt=INT" target="_blank">VOOG summary</a>) has an expense ratio of 0.15% and will directly compete with iShares S&amp;P 500 Growth (<a class="ticker" href="/stock/ivw#">IVW</a>) which has a 0.18% expense ratio.</li>
<li>Vanguard S&amp;P 500 Value ETF (VOOV) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3340&amp;FundIntExt=INT" target="_blank">VOOV summary</a>) has an expense ratio of 0.15% and will directly compete with iShares S&amp;P 500 Value (<a class="ticker" href="/stock/ivw#">IVW</a>) which has a 0.18% expense ratio.</li>
<li>Vanguard S&amp;P Mid-Cap 400 ETF (IVOO) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3342&amp;FundIntExt=INT" target="_blank">IVOO summary</a>) has an expense ratio of 0.15% and will directly compete with SPDR S&amp;P MidCap 400 (<a class="ticker" href="/stock/mdy#">MDY</a>) which has a 0.25% expense ratio and iShares S&amp;P MidCap 400 (<a class="ticker" href="/stock/ivw#">IVW</a>) which has a 0.20% expense ratio.</li>
<li>Vanguard S&amp;P Mid-Cap 400 Growth ETF (IVOG) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3343&amp;FundIntExt=INT" target="_blank">IVOG summary</a>) has an expense ratio of 0.20% and will directly compete with iShares S&amp;P MidCap 400 Growth (<a class="ticker" href="/stock/ijk#">IJK</a>) which has a 0.25% expense ratio.</li>
<li>Vanguard S&amp;P Mid-Cap 400 Value ETF (IVOV) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3344&amp;FundIntExt=INT" target="_blank">IVOV summary</a>) has an expense ratio of 0.20% and will directly compete with iShares S&amp;P MidCap 400 Value (<a class="ticker" href="/stock/iws#">IWS</a>) which has a 0.25% expense ratio.</li>
<li>Vanguard S&amp;P Small-Cap 600 ETF (VIOO) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3345&amp;FundIntExt=INT" target="_blank">VIOO summary</a>) has an expense ratio of 0.15% and will directly compete with iShares S&amp;P SmallCap 600 (<a class="ticker" href="/stock/ijr#">IJR</a>) which has a 0.20% expense ratio.</li>
<li>Vanguard S&amp;P Small-Cap 600 Growth ETF (VIOG) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3347&amp;FundIntExt=INT" target="_blank">VIOG summary</a>) has an expense ratio of 0.20% and will directly compete with iShares S&amp;P SmallCap 600 Growth (<a class="ticker" href="/stock/ijt#">IJT</a>) which has a 0.25% expense ratio.</li>
<li>Vanguard S&amp;P Small-Cap 600 Value ETF (VIOV) (<a href="https://personal.vanguard.com/us/funds/snapshot?FundId=3346&amp;FundIntExt=INT" target="_blank">VIOV summary</a>) has an expense ratio of 0.20% and will directly compete with iShares S&amp;P SmallCap 600 Value (<a class="ticker" href="/stock/ijs#">IJS</a>) which has a 0.25% expense ratio.</li>
</ul>
Expense ratios are not the only factor when choosing between ETFs tracking identical indexes.  Other consideration include commissions, dividend payment policies, liquidity, and tracking error:
<ul>
<li>Commissions: the Vanguard ETFs are commission-free for clients of Vanguard and the iShares ETFs listed above are commission-free for clients of Fidelity.  Investors using other firms and anyone trading the SPDR ETFs will have to pay standard brokerage commissions.</li>
<li>Dividend Payment Policy: Vanguard and iShares typically follow the “industry best practice” of paying dividends within four business days of the ex-dividend date.  SPDR has one of the most egregious dividend policies of any ETF sponsor by <a href="http://investwithanedge.com/spy-taking-shareholder-money-via-dividend-float" target="_blank">delaying dividend payments from SPDR S&amp;P 500 (<a class="ticker" href="/stock/spy#">SPY</a>) up to six weeks</a>.</li>
<li>Liquidity: SPY wins the liquidity argument hands down as it typically accounts for <a href="http://investwithanedge.com/etf-stats-for-august-2010-36-7-of-dollar-volume-went-to-spy" target="_blank">more than a third of all ETF dollar volume</a> every month.  The nine competitive products from iShares are all in the top 20% of all ETFs for average dollar volume and assets under management.  The new Vanguard products have some catching up to do in this regard, but based on the success of their other products, this should not be a significant disadvantage for too long.</li>
<li>Tracking Error: The S&amp;P indexes are well understood and all three firms have extensive experience managing products based on them.  The new ETFs will likely own all stocks in the index being tracked and not rely on sampling techniques.  Therefore, any tracking error is likely to be insignificant.</li>
</ul>
When I first saw the ticker symbols for the new Vanguard ETFs, I thought they were just a hodge-podge of letters with Vs and Gs stuck on the end to distinguish Value from Growth.  Then someone pointed out that the letters on the front are derivatives of roman numerals: V for 5 and VOO for S&amp;P 500, IV for 4 and IVOO for S&amp;P 400, VI for 6 and VIOO for S&amp;P 600.  I have them memorized already.
Disclosure covering writer, editor, and publisher:  Long IJH.  No positions in any of the companies or ETF sponsors mentioned.  No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.
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VFINX

Vanguard Declares War in Fight for Broad Market ETF Supremacy

Here is the ETF Professor's ETF Watch List for Tuesday March 2, 2010.
The iShares MSCI Australia Index (NYSE: <a class="ticker" href="/stock/ewa#NYSE">EWA</a>) was one of the better performing international ETFs on Monday, gaining nearly 3%. The same can be said for the Market Vectors Brazil Small-Cap ETF (NYSE: <a class="ticker" href="/stock/brf#NYSE">BRF</a>).
With tech getting a nice boost on Monday, take a look at the Ultra QQQ ProShares ETF (NYSE: <a class="ticker" href="/stock/qld#NYSE">QLD</a>).
The Market Vectors Coal ETF (NYSE: <a class="ticker" href="/stock/kol#NYSE">KOL</a>) was one of the better performing energy ETFs on Monday, gaining nearly 3%.
Take a look at the Direxion Daily Small Cap Bull 3X Shares (NYSE: <a class="ticker" href="/stock/tna#NYSE">TNA</a>), which was up nearly 7% on Monday.
Play strength in the biotech sector with the SPDR S&amp;P Biotech ETF (NYSE: <a class="ticker" href="/stock/xbi#NYSE">XBI</a>).
Track small-caps with the iShares S&amp;P SmallCap 600 Growth (NYSE: <a class="ticker" href="/stock/ijt#NYSE">IJT</a>).

Emerging Market ETFs

Currency ETFs

Pre-Market Outlook

ETFs To Watch March 2, 2010 (TNA, IJT, EWA, BRF)

The longer I study <a href="http://investwithanedge.com/fidelity-shoots-back-in-etf-brokerage-price-war" target="_blank">Fidelity’s commission-free ETF announcement</a> of last week (2/2/10), the more impressed I become.  This is not a hap-hazard list of ETFs that Fidelity and BlackRock threw together.  It is a solid lineup assembled from what many would consider the best iShares core offerings in domestic equities, international equities, and fixed income ETFs.
The domestic equity lineup includes both the S&amp;P style index offerings familiar to retail investors as well as the Russell stock funds that institutional investors often prefer.  The S&amp;P-based funds include the popular <a href="http://investwithanedge.com/ivv-buying-the-sp-500-without-commissions" target="_blank">iShares S&amp;P 500 Index Fund (IVV)</a>.  The Russell-based funds do not include the mid-cap offerings, but the Russell 3000 whole-market ETF is included.
The international lineup has the two grand-daddies of international ETF investing (EFA and EEM) as well as a small cap international and a whole world fund.  The fixed income lineup has a solid representative from each of five major bond sectors.  Last, but not least, is Fidelity’s own Nasdaq Composite ETF (ONEQ).
Below is the complete list of the 26 commission-free ETFs at Fidelity along with their current expense ratio and a link to their overview page with top holdings and other important details:
<h4>Russell Style Box ETFs</h4>
<ul>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWV.htm" target="_blank">iShares Russell 3000 Index (IWV)</a> 0.21%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWD.htm" target="_blank">iShares Russell 1000 Value Index (IWD)</a> 0.20%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWB.htm" target="_blank">iShares Russell 1000 Index (IWB)</a> 0.15%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWF.htm" target="_blank">iShares Russell 1000 Growth Index (IWF)</a> 0.20%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWN.htm" target="_blank">iShares Russell 2000 Value Index(IWN)</a> 0.33%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWM.htm" target="_blank">iShares Russell 2000 Index (IWM)</a> 0.24%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IWO.htm" target="_blank">iShares Russell 2000 Growth Index (IWO)</a> 0.25%</li>
</ul>
<h4>S&amp;P Style Box ETFs</h4>
<ul>
<li><a href="http://us.ishares.com/product_info/fund/overview/IVE.htm" target="_blank">iShares S&amp;P 500 Value Index (IVE)</a> 0.18%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IVV.htm" target="_blank">iShares S&amp;P 500 Index (IVV)</a> 0.09%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IVW.htm" target="_blank">iShares S&amp;P 500 Growth Index (IVW)</a> 0.18%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IJJ.htm" target="_blank">iShares S&amp;P Mid Cap 400 Value Index (IJJ)</a> 0.28%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IJH.htm" target="_blank">iShares S&amp;P Mid Cap 400 Index (IJH)</a> 0.21%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IJK.htm" target="_blank">iShares S&amp;P Mid Cap 400 Growth Index (IJK)</a> 0.25%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IJS.htm" target="_blank">iShares S&amp;P Small Cap 600 Value Index (IJS)</a> 0.25%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IJR.htm" target="_blank">iShares S&amp;P Small Cap 600 Index (IJR)</a> 0.20%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/IJT.htm" target="_blank">iShares S&amp;P Small Cap 600 Growth Index (IJT)</a> 0.25%</li>
</ul>
<h4>International and Global Equity ETFs</h4>
<ul>
<li><a href="http://us.ishares.com/product_info/fund/overview/EFA.htm" target="_blank">iShares MSCI EAFE Index (EFA)</a> 0.35%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/EEM.htm" target="_blank">iShares MSCI Emerging Markets Index (EEM)</a> 0.72%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/SCZ.htm" target="_blank">iShares MSCI EAFE Small Cap Index (SCZ)</a> 0.40%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/ACWI.htm" target="_blank">iShares MSCI ACWI Index (ACWI)</a> 0.35%</li>
</ul>
<h4>Fixed Income ETFs</h4>
<ul>
<li><a href="http://us.ishares.com/product_info/fund/overview/AGG.htm" target="_blank">iShares Barclays Aggregate Bond Fund (AGG)</a> 0.24%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/TIP.htm" target="_blank">iShares Barclays TIPS Bond Fund (TIP)</a> 0.20%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/LQD.htm" target="_blank">iShares iBoxx $ Investment Grade Corporate Bond Fund (LQD)</a> 0.15%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/EMB.htm" target="_blank">iShares JPMorgan USD Emerging Markets Bond Fund (EMB)</a> 0.60%</li>
<li><a href="http://us.ishares.com/product_info/fund/overview/MUB.htm" target="_blank">iShares S&amp;P National AMT-Free Municipal Bond Fund (MUB)</a> 0.25%</li>
</ul>
<h4>Fidelity ETFs</h4>
<ul>
<li><a href="http://content.members.fidelity.com/etf/frame/0,,315912808,00.html?refpr=zwycbetf007" target="_blank">Fidelity Nasdaq Composite Index Tracking Stock (ONEQ)</a> 0.30%</li>
</ul>
Fidelity also <a href="http://personal.fidelity.com/products/trading/index_content.shtml.cvsr" target="_blank">reduced commissions</a> for other ETFs, stocks, and options.
Disclosure covering writer, editor, publisher, and affiliates: Long some positions in this list. No positions in any of the companies or ETF sponsors mentioned.  No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.  Our affiliate, <a href="http://www.ccam.com/">Capital Cities Asset Management</a>, uses Fidelity Brokerage Services and Ameritrade Institutional as custodians and brokerage for client accounts.
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ACWI

iShares JPMorgan USD Emerging Markets Bond Fund

iShares S&P National AMT-Free Municipal Bond Fund

Fidelity NASDAQmposite Index Fund ETF-Tracking NASDAQmposite Index

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