Schwab International Equity ETF (ARCA: SCHF)

에 대한 최신 뉴스 Schwab International Equity ETF (ARCA:SCHF)

Schwab International Equity ETF

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Industrials

Technology

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Consumer Cyclical

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Basic Materials

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Communication Services

Utilities

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Other

To pursue its goal, the fund generally invests in stocks that are included in the FTSE Developed ex US Index. The index is comprised of large and mid-capitalization companies in developed countries outside the United States, as defined by the index provider. The index defines the large and mid-capitalization universe as approximately the top 90 percent of the eligible universe. As of August 31, 2023, the index was composed of 1,549 stocks in 24 developed market countries.

Novo Nordisk A/S B Common Stock Dkk.1

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Samsung Electronics Ltd.

Developed Markets Nestle Sa (reg. S)

AstraZeneca PLC

Saputo Inc

Toyota Motor Corp.

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지난 두 달 동안 불확실성이 커지고 변동성이 지속되는 가운데, 외국인 투자자들이 투자금을 회수하면서 미국 증시의 새로운 지표는 불안한 추세를 보이고 있다. 무슨 일 있었나: 일요일(8일), 인기 투자 뉴스레터인 코베이시 레터(The Kobeissi Letter)에서 골드만삭스 데이터를 인용해 소셜미디어 엑스(X)에 게시한 바에 따르면, 외국인 투자자들은 5월에 미국 주식에서 370억 달러를 회수하여 4월에 70억 달러를 회수한 데 이어 두 달 연속으로 자금이 유출된 것으로 나타났다. 

5월 미국 증시 대탈출: 외국 투자자들 370억 달러 회수···1년래 최대 월간 자금 유출

New figures from U.S. equity markets indicate a troubling trend, as foreign investors pull back amid mounting uncertainties and persistent volatility over the past two months.
What Happened: On Sunday, popular investment newsletter, The Kobeissi Letter, posted on X, citing Goldman Sachs data, showed that foreign investors pulled $37 billion from U.S. equities in May, marking the second consecutive month of outflows following a $7 billion withdrawal in April.
This sharp pullback, which also marks the biggest monthly outflow in at least a year, comes amid tariffs and trade tensions that continue to persist, over two months into President Donald Trump&#8217;s &#8220;Liberation Day&#8221; announcements.
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Despite a strong domestic equity rally following the temporary 90-day easing of trade tensions starting April 10, overseas capital continues to rotate out of American markets. The year-to-date tally now sits at a net $31 billion in outflows, showing a sharp reversal in sentiment, compared ot $201 billion in net inflows between just November and December last year.
This comes as the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500, the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) for the Nasdaq, and the SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) witnessed strong recoveries over the past two months, and are up 2.48%, 3.86%, and 1.08% year-to-date, respectively.
This exodus suggests that macro risks, including geopolitical instability, currency fluctuations, and concern over U.S. trade and fiscal policy, are all outweighing near-term market optimism. 
&#8220;Foreigners are rotating out of US stocks,&#8221; the post concludes, highlighting the divergence being seen between investor sentiments domestically and abroad.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Foreign investors withdrew a net -$37 billion out of US equities in May, the most in at least 12 months, according to Goldman Sachs. This marks the 2nd consecutive monthly net withdrawal after -$7 billion in April. Year-to-date, foreign investors have withdrawn a net… <a href="https://t.co/LZ4J52a7be">pic.twitter.com/LZ4J52a7be</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1931425677502230658?ref_src=twsrc%5Etfw">June 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Economist Peter Schiff, who&#8217;s been a vocal critic of Trump&#8217;s tariffs, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44883642/peter-schiff-rings-alarm-after-foreign-investors-dump-6-5-billion-in-us-equities-in-a-week-quips-trump-thought-tariffs-would-bring-capital-into-america">pointed out the irony</a> of these outflows way back in April, saying that &#8220;Trump thought tariffs would bring capital into America. Instead, it triggered a global run out of U.S. assets.&#8221;
This shift is also visible among domestic investors, with international ETFs such as the&nbsp;Schwab International Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHF#NYSE">SCHF</a>) and the Vanguard Total International Stock Index Fund ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VXUS#NASDAQ">VXUS</a>), soaring 18.55% and 15.60% year-to-date, respectively, <a href="https://www.benzinga.com/25/05/45550710/investors-ditch-us-stocks-as-international-etfs-hit-52-week-highs-heres-whats-driving-the-portfolio-pivot">hitting their 52-week highs</a> in recent weeks.
Photo Courtesy: Gsign76 On Shutterstock.com
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Foreign Investors Pull $37 Billion From US Stocks In May—Largest Monthly Exit In A Year: Exodus Amid Market Recovery, 90-Day Tariff Pause

Investors are often driven by the pursuit of massive <a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/03/44378283/ralph-laurens-prospects-of-market-share-gains-margin-expansion-turns-this-analyst-bullish">gains</a> and few assets capture this ambition better than individual stocks–like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)–that have seen a meteoric climb.
For many, high returns from individual <a href="https://www.benzinga.com/markets/25/03/44239013/retirement-investor-with-21-600year-in-dividends-needs-2-200-more-per-month-what-high-yield-stocks-w">stocks</a> and/or options trading are irresistible because such investments can turn a modest sum of money into life-changing <a href="https://www.benzinga.com/markets/25/02/43801235/paper-mill-worker-builds-1-7-million-fortune-through-investing-top-3-stocks-that-boosted-his-wealth">wealth</a>.
This is the case of a 32-year-old ex-military who made $700,000 in options trading but is unsure of what to do next. After hitting it big, the investor is wondering whether he should double down on high-risk strategies, or pivot to more stable, long-term investments, so he&#8217;s taken to Reddit to seek advice.
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With 4,200 shares of NVDA at a cost basis of $69 and $350,000 in cash, he is at a crossroads. His end goal is to preserve and grow his wealth while minimizing risk because he thinks his options trading run may be coming to an end. Still, he isn&#8217;t sure about what to do next.
&#8220;I was in the military but I started trading options and just did that for a few years. I think my run is at the end, though. Finishing school and getting a job now in the next year. I've been waiting for a pullback, unsure when to hop in. Kinda just wanna be done with it,&#8221; he wrote.
He asked whether he should put all his money in Schwab U.S. Dividend Equity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHD#NYSE">SCHD</a>), which is known for its focus on high-quality dividend-oriented stocks. The community offered plenty of suggestions so let&#8217;s analyze the comments and distill the most relevant advice below.
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<h2 class="wp-block-heading">$350,000 in SCHD? Reddit Assesses His Plan and Gives Suggestions</h2>
Avoid Putting All Your Money in One Asset
One of the most prevalent advice in the comments was to avoid putting all the money into a single investment–SCHD in this case–and diversify the portfolio into several assets.
&#8220;At age 32, I think you should consider a mix of SCHD, [Schwab U.S. Large-Cap Growth ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schg#NYSE">SCHG</a>)], and perhaps [Schwab International Equity ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schf#NYSE">SCHF</a>)]. Perhaps 45/45/10 or 50/45/5,&#8221; a Redditor advised.
A commenter suggested the investor a mix of growth and dividend-paying investments, as well as international exposure.
&#8220;Personally though, I&#8217;d put $50,000 to $100,000 into ex-U.S. markets. [Vanguard International High Dividend Yield ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vymi#NASDAQ">VYMI</a>)], [Legg Mason International Low Volatility High Dividend ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lvhi#NASDAQ">LVHI</a>)], [Franklin International Core Dividend Tilt Index ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/divi#NYSE">DIVI</a>)] are a few dividend-focused options,&#8221; he said.
Recommending a mix of individual stocks, ETFs, and dividend-paying assets, this Reddit user provided a detailed illustration of how diversification can be achieved in a portfolio.
&#8220;$50,000 [Vanguard S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voo#NYSE">VOO</a>)], $50,000 growth stocks like [Apple Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>)], NVDA, and others, $50,000 SCHD, $50,000 [JPMorgan Nasdaq Equity Premium Income ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jepq#NASDAQ">JEPQ</a>)], $50,000 [JPMorgan Equity Premium Income ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jepi#NYSE">JEPI</a>)], $50,000 [Simplify Volatility Premium ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/svol#NYSE">SVOL</a>)], $50,000 ([Pfizer Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>)], and other dividend stocks),&#8221; his suggestion reads.
&#8220;At 30, SCHG 50% VOO 50%,&#8221; another comment says.
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Consider Tax Efficiency and Long-Term Growth
Another recurring theme in the thread was the importance of tax efficiency and the possible drawbacks of focusing only on dividend income, with many Redditors suggesting that dividend-paying ETFs might not be the best option when it comes to taxes.
&#8220;Dumping $350,000 in there is a monumentally terrible idea. SCHD underperforms the S&amp;P 500 with dividends reinvested and not even counting the extra tax drag. You&#8217;d be creating more taxable income for yourself which is a terrible strategy. You want to minimize income and maximize net worth. Dumping all of your capital into something paying income is the opposite of what you should be doing,&#8221; a Reddit user wrote.
A Redditor suggested to the investor several other options that he says would yield more returns than SCHD.
&#8220;SCHD is a good fund, but is it best for you? With $350,000 invested, it will produce about $12,000 a year. Instead, $350,000 invested in [iShares Preferred and Income Securities ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pff#NASDAQ">PFF</a>)] with a 6% yield, would earn you about $21,000 a year. Or you could invest in [business development companies] using [Putnam BDC Income ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pbdc#NYSE">PBDC</a>)] and earn $31,000. Or [NEOS Nasdaq-100 High Income ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqqi#NASDAQ">QQQI</a>)] with a 23% yield and earn $45,000,&#8221; the commenter said.
&#8220;SCHD 30%, VOO 20%, [Realty Income Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/o#NYSE">O</a>)] 14%, [PepsiCo Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>)] 14%, [Enterprise Products Partners L.P. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>)] 12%, [Ares Capital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arcc#NASDAQ">ARCC</a>)] 10%,&#8221; a user recommended.
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32-Year-Old Investor With Massive NVDA Gains And $350K Cash Asks Reddit: 'What's Stopping Me From Putting It All In SCHD?'

The <a href="https://www.benzinga.com/coronavirus-covid-19/">Coronavirus pandemic</a> has brought with it widespread disruption across the world. As global stock markets continue to tumble, investors are facing up to one of the most testing periods they&rsquo;re likely to have seen.&nbsp;
With countless industries grinding to a halt as lockdown measures prevent business operations, the markets have reacted with extreme volatility, with much economic activity becoming non-existent.&nbsp;
Key indexes like the S&amp;P 500 and Dow Jones Industrials have become subject to wild daily swings of around 5%, a rate that&rsquo;s become more frequent in the past few weeks than it was in the 12 years prior.&nbsp;
The record-breaking 10% decline in the stock market back in late February has been matched on numerous occasions in the weeks since, and&nbsp;<a href="https://www.fool.co.uk/investing/2020/03/31/to-invest-amid-the-coronavirus-market-crash-start-with-this-strategy/" target="_blank">March 11th saw a 10% drop in value recorded within a single day</a>.&nbsp;
It&rsquo;s natural to see such figures and feel the urge to withdraw your investments and hibernate until we see a return to normality. However, the sad truth about investing is that you only ever make a loss until you withdraw a depreciating portfolio.&nbsp;
While there&rsquo;s plenty of market jitters from investors across the world, there are still opportunities to build portfolios that can help to ensure that you continue to yield profitable returns in the long term. Let&rsquo;s take a deeper look into how you can navigate your portfolio through the uncertain financial landscape:
Take Care In&nbsp;Catching The Bottom
One of the most anticipated&nbsp;<a href="https://daglar-cizmeci.com/wealth-management-in-2020/" target="_blank">investment strategies</a>&nbsp;since the full effects of Coronavirus emerged involved &lsquo;catching the bottom&rsquo; of falling markets.&nbsp;
Catching the bottom is the approach where investors anticipate the collapse of stocks and begin investing, or re-investing when they appear to have dropped as far as they&rsquo;re likely to fall.&nbsp;
This approach was undertaken successfully by investors during the fallout of the 2008 financial crash and is highly regarded as a safe strategy due to the fact that markets often recover over time.&nbsp;
However, <a href="https://www.benzinga.com/general/education/20/04/15822818/10-stocks-hitting-all-time-highs-amid-the-covid-19-pandemic">COVID-19</a> is a little bit more difficult to read than recent bear markets. As the industry comes to a standstill, losses could be felt long into the future.&nbsp;
It&rsquo;s highly likely that markets will recover to their early 2020 highs over time, but anticipating where rock bottom could be might lead to a series of false dawns.&nbsp;
To better illustrate how false dawns can lead to misjudgments in the market,&nbsp;<a href="https://www.fool.co.uk/investing/2020/03/31/to-invest-amid-the-coronavirus-market-crash-start-with-this-strategy/" target="_blank">The Motley Fool</a>&nbsp;refers to investments made in late November 2008, in the midst of the largest global market downturn for 80 years. The early signs suggested that a recovery was underway, and yet by March 2009 stocks had fallen 29% from their January peak.&nbsp;
Despite there being clear lessons to learn regarding timing, the technique of catching the bottom has historically served investors well. Whether they really do time their investments to perfection or decide to buy earlier or later, market recoveries can generally be relied upon.
Consider International Stock Funds
In the short term, it&rsquo;s worth looking deeper into international stocks. Nations are adopting varied approaches to combatting Coronavirus, with differing results. This means that different economies could recover at different rates.&nbsp;
One of the most&nbsp;effective ways of diversifying your investment risk&nbsp;and turning prospective profits from international economic recoveries is by looking to the Schwab International Equity ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schf#NYSE">SCHF</a>).&nbsp;
This particular fund can help investors to access over 1,500 stocks from developed markets worldwide. Countries like Japan, the UK and France have plenty of coverage within the ETF&rsquo;s portfolio, and esteemed names like Nestle, Samsung and Roche are all accessible. What&rsquo;s more, is that the fund has a lower expense fee of 0.06% - leaving less margin for risk.&nbsp;
International lockdowns will come and go at different times. As China already begins its recovery into returning to normal life, other nations may soon be ready to follow suit. Be sure to take the time to consider the viability of the wider world when looking to protect your portfolio.&nbsp;
Revise Your Diversification
Naturally, regardless of the <a href="https://www.benzinga.com/trading-ideas/long-ideas/20/03/15653155/8-best-investment-strategies-during-a-recession">difficulty facing the stock markets</a>, there&rsquo;s never a reason to avoid diversifying your portfolio. There&rsquo;s no better way of future-proofing your revenue than by looking at&nbsp;owning shares within a wider range of industries and sectors.&nbsp;
Take the time to look at your portfolio and scrutinize where your investments are. Try not to concentrate on a handful of stocks or funds and try to find a wider range of funds in more industries within a larger array of countries.&nbsp;
Try to avoid industries that have been thrown into uncertainty following the emergence of the pandemic, like travel and tourism for instance, but aim to adopt a variety of goals and targeted returns.&nbsp;
In the midst of this unprecedented level of disruption, it can be tempting to take a punt on a specific stock or market, but acting on a whim at a time of uncertainty will&nbsp;<a href="https://www.cityam.com/investment-experts-keep-calm-and-dont-cash-out/" target="_blank">most likely hurt your chances of returning profits rather than help them</a>.&nbsp;

Investing in Uncertainty: How Your Portfolio Can Navigate The Uncertain Financial Landscape

As investors look for equity market value, plenty of developed markets outside the U.S. are likely to appear on their screens, shining a light on some cost-effective exchange traded funds in the process.
<h3>What Happened</h3>
One of those ETFs is the $19.7-billion Schwab International Equity ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schf#NYSE">SCHF</a>). Up nearly 18% year-to-date, the Schwab International Equity ETF follows the FTSE Developed ex US Index, making it an alternative to MSCI EAFE Index tracking funds.
SCHF is big, broad and diverse, both in terms of number of holdings (nearly 1,500) and the number of countries represented in the portfolio (24).
&ldquo;Diversifying across a wide range of stocks mitigates the impact of the worst performers on the fund&rsquo;s overall performance,&rdquo; <a href="https://www.morningstar.com/articles/956655/low-cost-diversified-exposure-to-foreign-developed-markets">Morningstar said in a recent note</a>.
&ldquo;The portfolio holds more than 1,400 names, and its 10 largest stocks account for only 10% of its assets. It excludes companies listed in emerging markets, while a typical competitor has 7% of its assets allocated to companies from these regions.&rdquo;
<h3>Why It&#39;s Important</h3>
As is par for the course <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/11/14804696/3-vanguard-etfs-that-just-got-cheaper">with many Schwab ETFs</a>, SCHF is inexpensive. The developed markets fund charges just 0.06% per year, or $6 on a $10,000 investment, making it one of the least expensive ETFs in its respective category.
&ldquo;This fund&rsquo;s biggest advantage is its ultralow expense ratio. Schwab charges just 0.06% annually for this fund, but this has not translated into superior category-relative performance,&rdquo; according to&nbsp;Morningstar.
&ldquo;From its launch in November 2009 through November 2018, the fund&rsquo;s total and risk-adjusted returns landed near the midpoint of the category because the fund remains fully invested and foreign markets have not performed well by historical standards.&rdquo;
At the geographic level, SCHF devotes over 36% of its combined weight to Japan and the U.K., while France and Switzerland combine for over 17%.
<h3>What&#39;s Next</h3>
&ldquo;This portfolio effectively diversifies sector- and country-specific risks,&rdquo; according to Morningstar. &ldquo;Despite excluding firms listed in emerging markets, the fund&#39;s sector composition closely resembles the category average. Financials firms represent the largest sector weighting, at 20% of the portfolio.&rdquo;
Portfolio turnover within SCHF is just 8%. Morningstar has a Silver rating on the fund, which turned 10 years old earlier this month.
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A Schwab ETF For Accessing International Equities At A Nominal Fee

International travel can be expensive, but thanks to exchange traded funds, investing in ex-U.S. markets can be downright cheap.
In recent years, data confirm advisors and investors are apt to embrace the least expensive ETFs, namely those with annual fees of 0.20 percent or less. Plenty of developed markets funds, including the Schwab International Equity ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/schf#NYSE">SCHF</a>), fit that bill.
<h3>What Happened</h3>
The Schwab International Equity ETF charges just 0.06 percent per year, or $6 on a $10,000 investment, making it one of the least expensive funds in the international developed markets category. Schwab clients can realize additional savings with SCHF because, like all Schwab ETFs, the fund is available on the firm&#39;s commission-free ETF platform.
&ldquo;SCHF has a well-diversified, cap-weighted portfolio that captures the market&rsquo;s collective wisdom, and is complemented by one of the lowest expense ratios in the foreign large-blend Morningstar Category,&rdquo; <a href="https://www.morningstar.com/articles/888355/cheap-diversified-exposure-to-foreign-developed-ma.html">said Morningstar in a note out Friday</a>.
SCHF is just days shy of its ninth birthday and has $16.4 billion in assets under manageable. The fund targets the FTSE Developed ex-U.S. Index, a benchmark heavy on developed Asia and Europe stocks.
<h3>Why It&#39;s Important</h3>
In addition to being inexpensive, SCHF provides a high level of diversification, an important trait for investors looking to avoid stock picking in markets outside the U.S.
&ldquo;While the fund is limited to large- and mid-cap names, it still provides effective diversification,&rdquo; said Morningstar. &ldquo;It holds more than 1,300 stocks, and its 10 largest names account for only 10% of its assets. The fund excludes companies listed in emerging markets, while a typical competitor has 7% of its assets allocated to companies from developing regions. This modest difference can limit the portfolio&rsquo;s diversification potential but shouldn&rsquo;t hurt its long-term category-relative performance.&rdquo;
The financial services and industrial sectors combine for 36 percent of SCHF&#39;s weight while the consumer staples and consumer discretionary sectors combine for 21.3&nbsp;percent. Year-to-date, SCHF is slightly trailing the MSCI EAFE Index.
<h3>What&#39;s Next</h3>
&ldquo;Market-cap-weighted funds, like this one, provide cost-efficient, diversified exposure to the opportunity set that active managers select from and make no active bets on specific regions, countries, sectors, or individual stocks,&rdquo; according to Morningstar. &ldquo;Using this technique, a stock&rsquo;s weighting will float with changes in its price and will require very little turnover to maintain its desired exposures. Market-cap weighting essentially free-rides on the judgment of active investors. The allocation to each stock reflects their collective opinion about its relative value. Low turnover translates into low transaction costs.&rdquo;
Morningstar has a Silver rating on SCHF.
Related Links:
<a href="https://www.benzinga.com/trading-ideas/long-ideas/18/10/12572389/a-different-kind-of-value-etf">A New Value ETF</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/18/10/12562639/an-appropriate-time-to-embrace-a-defensive-sector">Right Here, Right Now For Utilities ETFs</a>

A Cheap International ETF Trip

Several of this year&#39;s top asset-gathering exchange traded funds are products focusing on developed market equities outside the U.S. Amid the rush to developed market ex-U.S. ETFs, another theme is becoming abundantly clear: Investors continue embracing low-fee ETFs.
That includes the Schwab International Equity ETF (NYSE: <a class="ticker" href="/stock/schf#NYSE">SCHF</a>). SCHF, which will celebrate its eighth birthday in November, recently became the first ETF from the Charles Schwab Corporation (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>) to top the coveted $10 billion in assets under management mark. As of July 13, SCHF had over $10.7 billion in assets under management, <a href="https://www.schwabfunds.com/public/csim/home/products/exchange_traded_funds/summary.html?symbol=SCHF">according to issuer data</a>.
SCHF also lays claim to another honor, that being it&#39;s the least expensive ex-U.S. developed markets ETF on the market today with an annual expense ratio of just 0.06 percent, or $6 on a $10,000 investment. Schwab clients realize additional savings with SCHF because the ETF can be traded commission-free on the firm&#39;s ETF OneSource Platform.
<h3>
	More On SCHF</h3>
SCHF tracks the FTSE Developed ex-U.S. Index and holds nearly 1,300 stocks. Portfolio turnover in the ETF is just over 5 percent. The Schwab ETF competes with funds that track the widely followed MSCI Index, but there are differences between the FTSE Developed ex-U.S. Index and the MSCI EAFE Index.
Notably, SCHF features exposure to Canadian stocks, a trait not found in the MSCI benchmark. SCHF allocates 7.6 percent of its weight to Canadian stocks, making that country the ETF&#39;s sixth-largest geographic allocation. Japan and the U.K. are SCHF&#39;s two largest country allocations, combining for 37.5 percent of the fund&#39;s weight.
SCHF holds some mid-cap stocks, but its lineup is primarily large-cap and the ETF is considered &ldquo;foreign large blend&rdquo; by Morningstar.
<h3>
	Attractive Valuations</h3>
One of the primary reasons why investors have been flocking to ex-U.S. developed markets ETFs this year is that those markets are sporting equity valuations that look attractive relative to U.S. stocks. SCHF obliges on that front.
&ldquo;SCHF makes good on delivering compelling equity valuations. SCHF shows a 15.0 price-to-earnings and a 1.6 price-to-book. In contrast, the S&amp;P 500 is trading at a 19.9 P/E and a 2.8 P/B,&rdquo; <a href="https://www.etftrends.com/investors-accessing-developed-markets-on-the-cheap/">according to ETF Trends</a>.&nbsp;
SCHF is up 16.7 percent year-to-date, putting it about 200 basis points ahead of the MSCI EAFE Index.
Related Links:
<a href="http:// https://www.benzinga.com/analyst-ratings/analyst-color/17/07/9781290/3-new-etfs-oppenheimer-adds-to-revenue-weighted-lineup">Consider These New International ETFs</a>
<a href="https://www.benzinga.com/trading-ideas/long-ideas/17/07/9760574/schwab-expands-commission-free-platform">More Commission-Free ETFs</a>

SCHW

Rapid Growth For This International ETF

Last week, BlackRock, Inc. (NYSE: <a class="ticker" href="/stock/blk#NYSE">BLK</a>) iShares unit, the world&#39;s largest sponsor of exchange-traded funds, shook the ETF industry with wide-ranging fee reductions to its iShares core lineup, a suite of ETFs designed four years with cost-conscious, long-term investors in mind.
All told, iShares <a href="http://www.benzinga.com/news/16/10/8530578/blackrock-flexes-its-muscles-in-fee-battle-cuts-core-etf-prices">lowered fees on 15</a> of its 22 core ETFs, including well-known offerings such as the iShares Core S&amp;P 500 Index (ETF) (NYSE: <a class="ticker" href="/stock/ivv#NYSE">IVV</a>), iShares S&amp;P SmallCap 600 Index (ETF) (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>), iShares Core High Dividend ETF (iShares Trust NYSE: <a class="ticker" href="/stock/hdv#NYSE">HDV</a>)) and the iShares Barclays Aggregate Bond Fund (NYSE: <a class="ticker" href="/stock/agg#NYSE">AGG</a>).
<h3>Mirroring Strategies</h3>
As is par for the course in the ETF business, fee cuts from one issuer are usually followed by some from a rival and usually that happens in short order. That is again the case as Charles Schwab Corp (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>) responded to the iShares fee cuts with its own fee reductions, announced last Friday.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/10/8535976/inside-blackrocks-etf-fee-cuts">Inside BlackRock's ETF Fee Cuts</a></bzrelatedlink>
Schwab, the fifth-largest U.S. ETF issuer, said it lowered fees on five of its ETFs, which already among the industry&#39;s least expensive. The company lowered the annual expense ratios on the Schwab U S Small-Cap ETF (NYSE: <a class="ticker" href="/stock/scha#NYSE">SCHA</a>) and the Schwab Strategic Trust (NYSE: <a class="ticker" href="/stock/schm#NYSE">SCHM</a>) to 0.06 percent, or $6 per year on a $10,000 investment, from 0.07 percent.
The Schwab International Equity ETF (NYSE: <a class="ticker" href="/stock/schf#NYSE">SCHF</a>) is now charging 0.07 percent per year, down from 0.08 percent while the Schwab Emerging Markets Equity ETF (NYSE: <a class="ticker" href="/stock/sche#NYSE">SCHE</a>) saw its fee reduced to 0.13 percent annually down from 0.14 percent.
The Schwab Strategic Trust (NYSE: <a class="ticker" href="/stock/schz#NYSE">SCHZ</a>) undercuts the aforementioned AGG by a single basis point with a new annual fee of 0.04 percent.
Schwab clients can realize additional cost savings on the company&#39;s Schwab ETF OneSource platform, the largest commission-free platform in the brokerage business.
<a href="https://pro.benzinga.com/?utm_source=Benzinga&amp;utm_medium=Benzinga%20Top%20of%20Article&amp;am%22%3">Full ratings data available on Benzinga Pro.</a>
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Broad U.S. Equity ETFs

SCHA

SCHB

SCHE

SCHM

SCHZ

Schwab Has An Answer In Latest ETF Fee Tussle

Less than four years after the debut of its first exchange traded fund, discount broker Charles Schwab (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>) announced Thursday that its suite of 15 equity-based and bond ETFs has reached a combined $10.02 billion in assets under management. That number pertains to the firm's ETF AUM total as of February 8.

Schwab's first ETFs debuted in November 2009 and were immediately made available to the firm's clients on a commission-free basis. Since that time, California-based Schwab has leveraged the combination of commission-free trading and paltry expense ratios to become one of the fastest-growing U.S. ETF sponsors.

With $10.2 billion in ETF assets, Schwab is the tenth-largest U.S. ETF sponsor, just behind PIMCO, which has $10.3 billion in ETF assets. Three Schwab ETFs – the Schwab U.S. Broad Market ETF (NYSE: <a class="ticker" href="/stock/schb#NYSE">SCHB</a>) Schwab U.S. Large-Cap ETF (NYSE: <a class="ticker" href="/stock/schx#NYSE">SCHX</a>) and the Schwab International Equity ETF (NYSE: <a class="ticker" href="/stock/schf#NYSE">SCHF</a>) – combine for about 38 percent of the firm's ETF assets.

SCHX, which competes with the Vanguard Large Cap ETF (NYSE: <a class="ticker" href="/stock/vv#NYSE">VV</a>) among other funds, has $1.2 billion in AUM, <a href="https://www.schwabetfs.com/summary.asp?symbol=SCHX">according to Schwab data</a>. SCHF, which competes with the massive iShares MSCI EAFE Index Fund (NYSE: <a class="ticker" href="/stock/efa#NYSE">EFA</a>), has $1.1 billion in AUM. SCHB is Schwab's largest ETF with $1.6 billion in assets.

Schwab's largest bond ETF is the Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) with $602.4 million in AUM. All 15 of the firm's ETFs have over $100 million in asssets.

Earlier this month, Schwab unveiled its Schwab ETF OneSource platform, which allows its clients to buy and sell 105 ETFs with $0 online trade commissions. In additional Schwab ETFs, OneSource allows the firm's clients to trade ETFs from State Street Global Advisors, PowerShares, Guggenheim, ETF Securities and United States Commodity Funds commission-free.

For more on Schwab ETFs, click <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/02/3314763/schwab-unveils-massive-additions-to-commission-free-etf-lineu">here</a>.

Bonds

Intraday Update

SCHP

SCHX

Schwab ETFs Reach $10B in Combined Assets

Discount broker Charles Schwab (NYSE: <a class="ticker" href="/stock/schw#NYSE">SCHW</a>), sponsor to some of the least expensive ETFs on the market, is making some of those funds even cheaper. In a filing with the <a href="http://www.sec.gov/Archives/edgar/data/1454889/000119312512398527/d403516d497.htm">Securities and Exchange Commission</a>, Schwab outlined fee cuts a wide array of its ETFs.

Among the Schwab funds with lower expense ratios will be two of the firm's most popular products. The Schwab U.S. Broad Market ETF (NYSE: <a class="ticker" href="/stock/schb#NYSE">SCHB</a>) will see its fee reduced to 0.04 percent per year from 0.06 percent. The annual expense ratio on the Schwab U.S. Large-Cap ETF (NYSE: <a class="ticker" href="/stock/schx#NYSE">SCHX</a>) goes to 0.04 percent from 0.08 percent. SCHB has $1.1 billion in assets under management while <a href="https://www.schwabetfs.com/summary.asp?symbol=SCHX">SCHX had $887.5 million in AUM at the end of August</a>.

The Schwab U.S. Large-Cap Growth ETF (NYSE: <a class="ticker" href="/stock/schg#NYSE">SCHG</a>), Schwab U.S. Large-Cap Value ETF (NYSE: <a class="ticker" href="/stock/schv#NYSE">SCHV</a>). Schwab U.S. REIT ETF (NYSE: <a class="ticker" href="/stock/schh#NYSE">SCHH</a>) and the Schwab U.S. Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/schm#NYSE">SCHM</a>) will see annual fees reduced to 0.07 percent from 0.13 percent.

The Schwab U.S. Small-Cap ETF (NYSE: <a class="ticker" href="/stock/scha#NYSE">SCHA</a>) goes down three basis points to 0.1 percent from 0.13 percent. In the dividend space, Schwab slashed the expense ratio on the Schwab U.S. Dividend Equity ETF (NYSE: <a class="ticker" href="/stock/schd#NYSE">SCHD</a>) to 0.07 percent from 0.17 percent.

Schwab also reduced expenses on several of its international funds, including the Schwab International Equity ETF (NYSE: <a class="ticker" href="/stock/schf#NYSE">SCHF</a>), which is going to 0.09 percent from 0.13 percent. The Schwab International Small-Cap Equity ETF (NYSE: <a class="ticker" href="/stock/schc#NYSE">SCHC</a>) will now have an expense ratio of 0.2 percent down from 0.35 percent.

Interestingly, the Vanguard MSCI Emerging Markets ETF (NYSE: <a class="ticker" href="/stock/vwo#NYSE">VWO</a>) has lost the title of cheapest emerging markets ETF. That honor now goes to the Schwab Emerging Markets Equity ETF (NYSE: <a class="ticker" href="/stock/sche#NYSE">SCHE</a>), which will now charge 0.15 percent compared with 0.25 percent in the past.

Fees on the Schwab U.S. TIPS ETF (NYSE: <a class="ticker" href="/stock/schp#NYSE">SCHP</a>) were cut in half to 0.07 percent from 0.14 percent. The Schwab Short-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="/stock/scho#NYSE">SCHO</a>) goes to 0.08 percent from 0.12 percent while the Schwab Intermediate-Term U.S. Treasury ETF (NYSE: <a class="ticker" href="/stock/schr#NYSE">SCHR</a>) will now charge 0.1 percent compared with 0.12 percent in the past.

The Schwab U.S. Aggregate Bond ETF (NYSE: <a class="ticker" href="/stock/schz#NYSE">SCHZ</a>) also cut its fees in half to 0.05 percent from 0.1 percent while the Schwab U.S. REIT ETF (NYSE: <a class="ticker" href="/stock/schh#NYSE">SCHH</a>) will now charge 0.07 percent, down from 0.13 percent. 

All that on top of the fact that Schwab offers all of its ETFs on a commission-free basis to its clients.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

Sector ETFs

New ETFs

Emerging Market ETFs

Pre-Market Outlook

SCHC

SCHH

SCHO

SCHR

SCHV

Schwab ETF Fees Hit Rock Bottom

The Japanese yen plunged in Thursday's trading as the Bank of Japan intervenes to weaken the yen. Presently, the U.S. dollar added 3.04% to its value against the yen to trade around ¥79.38, while the euro stands around ¥113.31, or 2.7% above its previous close.

On Thursday, the Bank of Japan sent the yen tumbling after announcing measures to contain its rise. The yen rose around 5% in the last month alone, too much for the Japanese authorities to stand by idly, it seems. <a href="http://www.reuters.com/article/2011/08/04/us-japan-economy-yen-idUSTRE77308U20110804">Japan's central bank</a> left its interest rates, which are currently between 0% and 0.1%, on hold. More importantly, the central bank announced it will increase the size of its asset buying fund to ¥15 trillion from ¥10 trillion.

The yen has been rising as a result of the debt crises in the Eurozone and the United States. Japan's authorities were not too pleased about it as strong yen makes Japan's exports less competitive in the global markets. Many analysts place their hopes on Japan's powerful exporting sector to push Japan out of doldrums created by the twin disasters. 

This is the second time this year that the Japanese authorities have intervened in the currency markets. Following the devastating natural disasters that have struck Japan in March, <a href="http://www.omaha.com/article/20110804/AP05/308049989">the G7 countries</a> made an orchestrated intervention to weaken the yen, the first time the group made such an effort since the year 2000, when the group came to the euro's rescue. This time, however, Japan acted on its own.

The Bank of Japan's move comes after similar effort by the Swiss central bank. In the past 52 weeks, the franc increased its value against the greenback by 36% and by 26% against the euro. It seemed only the sky is the limit for the franc, so the Swiss National Bank had to step in. <a href="http://www.reuters.com/article/2011/08/03/us-swiss-snb-idUSTRE7721MS20110803">The Swiss central bank</a> surprised the markets on Wednesday by cutting its interest rates from 0.25% to as close to zero as possible. At the same time, the central bank pledged to increase monetary supply in order to further weaken the franc. At around 6:24 am GMT, the greenback added 1.02% to its value against the franc to stand around 0.7782. At the same time, the European currency recovered some of its losses against the Swiss currency, trading around 1.1114, or 0.71% above its previous close. 

Like Japan, Switzerland is an exports-led economy. Even though the performance of the Swiss economy has been stellar in recent years, at least compared to other developed nations, strong franc threatens to hurt the Swiss producers as it makes exports more expensive and imports cheaper. However, it is not clear how much the Swiss National Bank can do to contain the rise of the franc. The strength of the franc has little to do with the country's interest rates. Instead, the franc is skyrocketing because traders view the Swiss currency as a safe-haven in turbulent times. As both the United States and the Eurozone are pressed by debt problems, which threaten the world economy's recovery, traders are increasingly fleeing to the safety of the franc, and gold for that matter. The actions by the Swiss central bank have pushed the yellow metal to new heights. Presently, gold trades around $1,663.45, or 0.08% below its previous close, while silver retreated 0.26% to stand around $41.67.

ACTION ITEMS: Bullish: Traders who believe that the actions of the Japanese and Swiss central bank will be in vain, and that the yen and the franc will keep rising due to debt problems in the Eurozone and the United States, might want to consider the following trades: 

<ul><li>CurrencyShares Japanese Yen Trust ETF (NYSE: <a class="ticker" href="/stock/fxy#NYSE">FXY</a>) is a long play on the yen. FXY may rise if the yen appreciates.</li></ul>

<ul><li>ProShares Ultra Yen ETF (NYSE: <a class="ticker" href="/stock/ycl#NYSE">YCL</a>) is another long play on the yen. However, YCL should rise more than FXY if the yen appreciates.</li></ul>

<ul><li>CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>) is a long play on the franc. FXF may rise if the franc appreciates.</li></ul>

Bearish: Traders who believe that the central banks will be able to push the values of the franc and the yen down may consider an alternate positions: 

<ul><li>ETFS Short Japanese Yen Long US Dollar ETC (Sterling) ETF (SJPP) is a short play on the yen. SJPP may rise if the yen depreciates.</li></ul>

<ul><li>ProShares UltraShort Yen ETF (NYSE: <a class="ticker" href="/stock/ycs#NYSE">YCS</a>) is another short play on the yen. However, YCS should rise more than SJPP if the yen depreciates.</li></ul>

<ul><li>ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>) is a short play on the franc. SCHF may rise if the franc depreciates.</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.

Short Ideas

Forex

Economics

Yen Plunges as Central Bank Intervenes

Precious metals and the Swiss franc are the clear winners in Monday's early trading, as there is little improvement in the debt ceiling negotiations in the United States, while at the same time the market euphoria over the EU agreement on Greece is fading. At around 5:40 GMT, the euro moved one step closer to parity with the franc as the European currency lost 0.73% of its value to trade around 1.1678, while the greenback slid 0.8% to 0.8126. At the same time, gold was pushed to new heights as the yellow metal passed through the $1,615 mark. At the moment, gold is trading around $1,615.65, or 0.81% above previous close. Silver is trading over the $40 barrier once more. Currently, silver stands at $40.55, or 1.16% above previous close.

Precious metals and the franc are traditionally seen as safe-havens by investors, as shelters to turn to in times of big crises and uncertainties. World is moving towards another crisis as the U.S. debt ceiling talks fail to progress. Over the weekend, the two sides were unable to break the ideological deadlock between them. Republicans still want to reduce the massive U.S. deficit through spending cuts, while Democrats are more comfortable with taxing the rich than with slashing spending on social welfare programs for the U.S. elderly and the poor.

As the negotiations approach August 2, the day when the U.S. government will not be able to repay its debts and will be forced to shut down, the stakes are rising. <a href="http://www.reuters.com/article/2011/07/25/us-usa-debt-downgrades-idUSTRE76O0BE20110725">Rating agencies</a> have warned they will slash their triple-A rating on the U.S. government bonds if shutdown takes place. However, rating agencies have also warned that the only way to safeguard the highest rating for the U.S. bonds will be to reach a credible plan to reduce the U.S. budget deficit. 

Other countries are becoming increasingly agitated over the failure to reach a debt ceiling agreement. Vince Cable, U.K.'s Business Secretary, has attacked the U.S. Republicans over their failure to compromise with President Obama. Speaking in a BBC show, <a href="http://www.bbc.co.uk/news/business-14267091">Mr. Cable</a> placed the blame for the current stalemate on “a few right-wing nutters in the American Congress”. It remains to be seen how Republicans and the U.S. public will respond to a strong criticism of the G.O.P. by the member of a foreign government. However, other governments should fear the U.S. government shutdown, since it is likely that the effects will be felt across the globe.

U.S. Treasury Secretary, <a href="http://www.bbc.co.uk/news/business-14268147">Tim Geithner</a>, remains confident that the last ditch efforts will be made and the worst case scenario will be avoided. Many traders still seem to believe the same, as the U.S. dollar is holding ground against its main rivals on Monday. At the moment, the U.S. dollar made a small retreat against the Japanese yen, falling 0.17% to stand around ¥78.41. At the same time, the euro added only 0.01% to its value against the greenback to trade around $1.4359.

The European currency is again under attack as the euphoria over the second Greek bailout eases. Rating agencies have warned that any “voluntary” participation of the private sector in the Greek bailout will be viewed as selective default and now they are starting to act on their promises. <a href="http://www.guardian.co.uk/business/2011/jul/22/fitch-puts-greece-on-restricted-default">Fitch</a> was the first to confirm it will put Greece into a “restricted default” rating. 

On Monday, <a href="http://www.reuters.com/article/2011/07/25/us-markets-ratings-greece-idUSTRE76O0I420110725">Moody's</a> slashed its rating on Greece by three notches from Caa1 to Ca, citing serious medium term insolvency problems. Policies agreed by the Europeans and the Greek government, which include privatization and austerity cuts, remain deeply unpopular among the Greek people. Many analysts are therefore rightfully worried that the Greek government will have huge difficulties in implementing the agreed reforms.

ACTION ITEMS: Bullish: Traders who believe that the two U.S. parties will not be able to reach an agreement by August and that Greece will falter in implementation of the agreed reforms, which should send the value of safe-havens skyrocketing, might want to consider the following trades: 

<ul><li>CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>) is a long play on the franc. FXF should rise if the franc appreciates.</li></ul>

<ul><li>iPath Dow Jones-AIG Precious Metals Total Return Sub-Index ETN (NYSE: <a class="ticker" href="/stock/jjp#NYSE">JJP</a>) is a long play on precious metals. JJP is expected to rise if prices of precious metals increase.</li></ul>

<ul><li>E-TRACS CMCI Gold ETN (NYSE: <a class="ticker" href="/stock/ubg#NYSE">UBG</a>) is a long play on gold. UBG should rise if the price of gold increases.</li></ul>

Bearish: Traders who believe that there is enough pragmatism among the U.S. political elites to reach a compromise and that the European determination will eventually prevail over its debt problems may consider an alternate positions: 

<ul><li>ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>) is a short play on the franc. SCHF should rise if the franc depreciates.</li></ul>

<ul><li>PowerShares DB Gold Short ETN (NYSE: <a class="ticker" href="/stock/dgz#NYSE">DGZ</a>) is short play on gold. DGZ should rise if the price of gold decreases.</li></ul>

<ul><li>ProShares UltraShort Gold ETF (NYSE: <a class="ticker" href="/stock/gll#NYSE">GLL</a>) is another short play on gold. However, GLL should rise more than DGZ if the price of gold decreases.</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.

Commodities

Currency ETFs

iPath DJ-UBS Precious Metals Subindex Total Return ETN

Precious Metals and Swiss Franc Rise Strongly as Debt Worries in Europe and the United States Continue

The Swiss currency is continuing to gather strength against the euro on Tuesday. At around 6 am GMT, the euro lost 0.14% of its value against the euro to stand around 1.1521. At the same time, the greenback recovered some of its earlier losses, rising 0.09% to 0.8183.

The franc is considered by many as a safe-haven or a place where traders can find shelter from global uncertainties and risks. There is certainly no lack of uncertainties in today's world, as both the Eurozone and the United States are struggling to resolve their debt problems. According to a survey compiled by <a href="http://gulfnews.com/business/markets/franc-most-overpriced-currency-and-rising-1.840001">Bloomberg</a>, the median estimate is for the franc to finish the year at 1.26 against the euro, while in April the median estimate was 1.34. 

At the moment, three Eurozone members – Greece, Portugal and Ireland - have their credit rating set to junk by at least one credit rating agency. Even bigger problem is that the crisis does not end there. In fact, it is spreading to Spain and most recently Italy. Italy has the highest debt to GDP ratio among the Eurozone countries, after Greece of course. Recently, the Italian government has passed a new package of austerity cuts aimed at eliminating the country's budget deficit by 2014 through both houses of parliament. Markets are not convinced this is enough, it seems, as the <a href="http://www.irishtimes.com/newspaper/finance/2011/0719/1224300947237.html">yield on Italian 10-year bonds</a> rise above 6%. The yield on Spanish 10-year bonds is also higher, rising to 6.36%. Both the Italian and Spanish bond yields are dangerously approaching the 7% landmark, after which investors normally lose faith in a country.

Spain is also under a threat of a new financial crisis, as <a href="http://www.bbc.co.uk/news/business-14169940">five of its banks fail to pass the stress test</a>. Other banks that failed the test include one Austrian bank and two Greek banks. This group should be extended to the German bank Helaba, since the bank withdrew from the test after it became clear it will not be able to pass the test.

The greatest concern of most traders remains Greece. The troubled Eurozone member had to be bailed out twice since the onset of the financial crisis. In spite of many attempts to control its debt, Greece is only seeing a rise in its debt to GDP ratio. <a href="http://www.bbc.co.uk/news/business-14177208">The IMF</a> recently stated Greece's debt is still manageable but it is on a “knife's edge”. The Eurozone leaders have agreed upon a new bailout for Greece, but its exact form is yet to be decided. Things should be a lot clearer later this week when the Eurozone leaders gather to discuss the debt crisis. The most influential member of the Eurozone, Germany, is aggressively pushing the idea that private players, most notably banks, should bear some of the costs of the crisis. 

There are a number of options on how to make the private sector participate in resolving the Greek crisis, the problem is the credit rating agencies have already made their position clear. Any “voluntary” extension of debt maturity or lowering of interest rates by banks will be viewed as a default. A default in Greece will most likely quickly spread to other troubled economies. A <a href="http://www.reuters.com/article/2011/07/18/us-eurozone-debt-idUSTRE76H2GB20110718">new proposal involves taxing banks</a>. This way, the Europeans might avoid their plan being declared a Greek default by credit rating agencies.

Across the Atlantic, the US is fighting its own debt war, as Republicans and Democrats make little progress on raising the debt ceiling. Republicans want very deep public spending cuts, while Democrats want to balance spending cuts with raising taxes for the rich. So far, not much progress has been made in reaching a compromise. If the two sides do not reach an agreement, the U.S. government will be forced to shut down as early as August 2. <a href="http://www.reuters.com/article/2011/07/19/us-usa-debt-idUSTRE7646S620110719">President Obama</a> said that any deal should be made by the end of this week, in order to provide enough time to turn the deal between two sides into law. The Obama deadline is approaching very quickly, and the two sides' positions do not seem to be getting any closer. 

Debt fears in the Eurozone and the United States have pushed gold over $1,600 mark, a new record. At the moment, gold is trading around $1,608.05, or 0.16% above yesterday's close. At the same time, silver also climber higher, adding 0.78% to its value to stand around $40.84. Like the franc, precious metals are seen as very safe investments and their price tends to rise as global economy approaches a slump. 

ACTION ITEMS: Bullish: Traders who believe that the Eurozone and the U.S. debt woes will push the global economy back into recession, which should provide a lot of headwind for the franc and precious metals, might want to consider the following trades: 

<ul><li>CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>) is a long play on the franc. FXF should rise if the frank appreciates.</li></ul>

<ul><li>ELEMENTS MLCX Precious Metals ETN (NYSE: PMY) is a long play on precious metals. PMY should rise should the prices of precious metals climb higher.</li></ul>

<ul><li>E-TRACS CMCI Gold ETN (NYSE: <a class="ticker" href="/stock/ubg#NYSE">UBG</a>) is a long play on gold. UBG should rise if the price of gold continues to increase.</li></ul>

Bearish: Traders who believe that the U.S. and the Eurozone will avoid the worst case scenario, which should send the franc and precious metals into retreat from all time highs, may consider an alternate positions: 

<ul><li>PowerShares DB Gold Short ETN (NYSE: <a class="ticker" href="/stock/dgz#NYSE">DGZ</a>) is a short play on gold. DGZ should rise is the price of gold declines.</li></ul>

<ul><li>PowerShares DB Gold Double Short ETN (NYSE: <a class="ticker" href="/stock/dzz#NYSE">DZZ</a>) is another short play on gold. DZZ should rise more than DGZ, should the price of gold fall.</li></ul>

<ul><li>ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>) is a short play on the franc. SCHF should rise if the franc depreciates.</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.

Swiss Franc Continues Rallying against Euro as Debt Fears Persist

The Swiss franc lost some ground in Thursday's early trading against the U.S. dollar. At around 6 am GMT, the greenback rose 0.31% against the franc to 0.8419.

The Swiss currency is often seen as a safe haven for investors. In times of global uncertainties and risks, investors rush to the safety of the franc and gold. Both safe havens are losing ground today, however, as the price of gold fell 0.25% to 1,547.35.

The Swiss economy has been very strong recently, especially compared to other developed nations. The Swiss economy is export-driven, however, and some traders might fear that the strong franc, which is trading near record heights for some time now, might start to take its toll on the economy.

These fears might be alleviated by the Swiss trade balance data published today. The <a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=8f247354-a034-41d8-a907-5fd326fa49d3">Swiss trade surplus</a> increased from 1.44 billion CHF in April to 3.31 billion CHF in May. Most analysts had predicted the Swiss trade surplus to widen modestly to 1.79 billion CHF.

The U.S. dollar seems to have recovered from yesterday's downgrade of the U.S. growth by the <a href="http://www.bbc.co.uk/news/business-13882420">Fed</a>, which now predicts the U.S. economy will grow by 2.7%-2.9%, down from its previous estimate of 3.1%-3.3%. 

Slow growth is not the only problem facing the U.S. economy, however, as it becomes increasingly uncertain if the government will be able to persuade the U.S. lawmakers to raise the debt ceiling. In case the opposition Republicans, who control the House of Representatives, decide to block the government's attempt, the U.S. government will be forced to shut down as early as August.

The franc is retreating against the British pound as well, as the pound added 0.14% to its value and stands around 1.3506. The recent performance of the British economy has not been stellar, to say the least. In addition, there seems to be a shift in the power balance between doves and hawks in the <a href="http://www.bbc.co.uk/news/business-13871449">Bank of England's policy setting committee</a>. Minutes from the last meeting showed that the newest member of the BoE's committee, Ben Broadbent, voted for leaving the interest rates unchanged. His predecessor, Andrew Sentance, however, was more hawkish and had voted to raise the interest rates. The new composition of the BoE's policy setting committee makes it less likely the BoE will start raising its interest rates any time soon. As a result, some traders might think that the pound's gains are only temporary.

The franc is still too strong for the euro, however, as the European currency has fallen 0.07% to 1.2033. In spite of surviving the confidence vote, some <a href="http://www.cnbc.com//id/43483813">analysts</a> are fearful the Greek prime minister will not be able to push the new round of austerity cuts. Since these cuts were set as a precondition by the EU for the next tranche of the EU/IMF loan, the failure to vote in these reforms will effectively force Greece to proclaim a default on its debt. Needless to say, the effects of a potential Greek default on the euro will be devastating, as traders will quickly turn their attention to the debt problems of Portugal and Ireland. 

Many traders believe the global recovery is still on shaky ground. The U.S. growth has recently been downgraded, the Eurozone is fighting, it seems, a never-ending debt battle, and the Japanese economy has still not recovered from the earthquake/tsunami disaster. These factors should persuade some traders that the global economy is marred with uncertainty and that the Swiss currency is the best place to hide from the global risks. These traders will be interested in the CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>).

Other traders might think that the Swiss currency has been trading too high and will soon start to hurt the performance of the Swiss economy. At the same time, traders might be hopeful that the Eurozone and the U.S. will be able to resolve their debt problems soon, providing a lot of tailwind for their currencies. Traders who find appeal in this scenario will be interested in the ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>).

Swiss Franc Loses Ground Against U.S. Dollar

The Swiss franc lost some ground against the U.S. dollar on Wednesday, after the first signs of deflation appeared. at around 1:15 pm GMT, the U.S. dollar rose 0.68% to 0.8512.

The Swiss currency was pulled back by unexpected price level data which showed deflationary pressures. According to the <a href="http://www.xe.com/news/2011/06/15/1967089.htm?c=1&amp;t=">Federal Statistics Office</a>, the Swiss producer and import prices fell in April by 0.2% compared to a month earlier and 0.4% compared to a year ago. The deflation data should probably persuade the Swiss central bank not to raise its interest rates on Thursday.

In recent times, the Swiss economy posted very strong results. As a result, the Swiss franc rose to new heights against other currencies. The value of the franc was further supported by unstable recovery in the Eurozone and the United States. The Swiss economy is exports-oriented, however, and strong franc might cripple the Swiss economic growth. The Swiss central bank, therefore, will be reluctant to provide more steam to the Swiss currency.

In spite of recent setbacks, the franc is still too strong for the euro as the European currency lost 0.49% of its value to trade at $1.2148. The euro has been hit hard by recent developments in Greece, where the government is trying to push through parliament yet another austerity packet as the Greeks gather at mass protests in front of the parliament building. 

The euro failed to find strength in better than expected industrial production data. According to <a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=618819ef-df4a-4c90-a9bd-5d8ec04bd600">Eurostat</a>, industrial production in the EU rose unexpectedly by 0.2% in April, compared to a month earlier, from 0% recorded in March. Most analysts had predicted a fall of 0.2%. At an annual rate, the EU industrial production rose 5.2% in April, down from 5.8% in March.

Traders who believe the Swiss currency has risen too far and will soon start to hurt the Swiss growth performance, forming a lot of downward pressure on the franc, will be interested in the ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>).

Other traders will think that the continuing uncertainties about the debt-ridden economies on the Eurozone periphery, along with an unstable recovery in the United States, will provide sufficient tailwind for the franc. Traders who find appeal in this scenario will be more interested in the CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>).

Swiss Franc Falls Against U.S. Dollar on Deflation Pressures

The Swiss franc fell against other European currencies on Tuesday, after the Swiss economy posted flat inflation data for May. According to the <a href="http://www.dailymarkets.com/forex/2011/06/07/swiss-cpi-unexpectedly-flat-in-may/">Swiss Federal Statistics Office</a>, the CPI fell to 0.0% in May from 0.1% in April. Most analysts were expecting the CPI to fall 0.1%, however. 

Avoiding deflationary pressures should be good news for the Swiss franc. The Swiss currency lost some value against other European currencies, however. At around 8:30 am GMT, the British pound added 0.3% to its value to trade around 1.3693 against the franc. At the same time, the euro rose 0.39% to 1.2214. The franc made some gains against the U.S. dollar, however, as the greenback fell 0.1% to 0.8338.

The Swiss currency has skyrocketed since the beginning of the financial crisis. The value of the franc has been partly supported by the relatively healthy Swiss economy, especially compared to that of the Eurozone periphery. The Swiss economy is exports-driven, however, and strong currency is putting its exporter under pressure. 

As a result, in spite of higher than expected inflation data, which should push the value of the franc higher, other considerations, like the negative effects of strong franc on Swiss exporters, seemed to push the value of the franc downwards.

Traders who believe the health of the Swiss economy and inability of the recovery in the U.S. and Eurozone to find a solid foothold will provide additional steam for the franc will be interested in the CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>).

Other traders might think that the value of the franc has gone too high and is making Swiss exporters uncompetitive will be more interested in the ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>).

Swiss Franc Falls Against European Currencies on Flat Inflation Data

The Swiss franc surged against major currencies on Wednesday after the Swiss economy produced a number of strong economic results. The Swiss manufacturing activity rose unexpectedly in May. The research showed that the <a href="http://www.dailymarkets.com/forex/2011/06/01/swiss-svme-pmi-rises-unexpectedly-in-may/">manufacturing activity index</a> rose to 59.20 in May from 58.40 in April. Most analysts were expecting manufacturing activity to slow down to 57.60. Further signs of strong fundamentals in the Swiss economy could be found in its retail sector. According to the <a href="http://www.rttnews.com/Content/AllEconomicNews.aspx?Id=1636402&amp;SM=1">Federal Statistics Office</a> data, the Swiss retail sales surged 0.7% in April compared to a month earlier, following a 0.4% rise in March. On a yearly basis, the April retail sales were 7.5% higher than in April 2010. Strong results by the Swiss economy provided more steam to the Swiss currency, as the franc surged against the euro, the U.S. dollar and the British pound. At around 9 am GMT, the euro lost 0.58% of its value against the franc to trade at 1.2223, while the U.S. dollar traded at around 0.84860, or 0.64% below yesterday's close. The biggest loser was the pound, however, falling 0.87% to 1.3914.

The Swiss economy has been outperforming that of other developed nations, providing a boost to its currency. The franc also benefited from the uncertainties with respect to fragile global recovery, since the franc is traditionally considered a safe-heaven for investors in times of crisis and uncertainties. Traders who believe the strong Swiss economy and global uncertainties will contribute to the rising value of the franc will be interested in the CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>). Other Investors will be cautious about placing their money into the rising franc. The Swiss economy is export-driven and the strong franc is making Swiss exporters less competitive. The Swiss currency is already trading near its highest point against the U.S. dollar since the 1970s and is threatening to reach parity with the euro. Some traders will believe this is as much as the Swiss franc can go. These traders will be more interested in the ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>).

Swiss Franc Surges On Strong Retail and Manufacturing Data

The Swiss franc fell against the euro as its economy slowed down in the first quarter of the year. According to <a href="http://www.seco.admin.ch/themen/00374/00456/index.html?lang=en">government data</a>, the Swiss GDP grew by 0.3% in Q1, down from 0.8% in Q4 last year. Most analysts predicted the Swiss economy to grow by 0.6%. The Swiss franc was further hit by falling consumption, after the <a href="http://www.rttnews.com/Content/AllEconomicNews.aspx?Node=B2&amp;Id=1635268">UBS Consumption Index</a> fell to 1.59 in April from 1.69 in March. Around 9 am GMT, the euro stood at 1.2264, or 0.35% above Monday's close. The franc still managed to pull ahead of the U.S. dollar, however, as the dollar fell 0.73% to CHF0.8512.

Traders who believe the Swiss economy will continue to loose pace, thus reducing the value of the franc, will be interested in the ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>). Those traders who believe the uncertainties surrounding the Eurozone periphery and global recovery will continue to push the value of the franc higher will be interested in the CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>).

Swiss Franc Falls Against Euro as Swiss Economy Slows

The Swiss economy posted trade surplus below market expectations in April. According to <a href="http://www.forexpros.com/news/economic-indicators/swiss-trade-surplus-widens-less-than-expected-in-april-215830">government data</a>, April's exports were CHF1.52 billion higher than imports, up from CHF1.09 billion in March but below CHF2 billion expected by most analysts. The Swiss franc is seen as a safe-haven for investors; its value generally rises in times of uncertainty. The Swiss currency has been riding high following the global crisis and the strength of the franc seems to be taking its toll on this export oriented economy. The Swiss exporters will be pleased to know the franc lost some value against the euro. At the moment, the euro stands at 1.2343 against the franc, or 0.4% above yesterday's close. The value of franc was higher against the U.S. dollar, however, as the greenback stands at $0.8718, or 0.09% lower than yesterday. 

Traders who believe the strong franc will continue to take its toll on the Swiss economy, ultimately forcing the value of franc downwards, will be interested in the Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>). Those traders who believe the global uncertainties will keep pushing the franc higher will be interested in the CurrencyShares Swiss Franc Trust ETF (NYSE: <a class="ticker" href="/stock/fxf#NYSE">FXF</a>) and the Long Swiss Franc Short US Dollar ETC (Sterling) ETF (CHFP).

Swiss Franc Falls Against Euro after Weaker Trade Balance Data

Swiss producer and import prices decreased in April. According to <a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=cf32078e-88f8-49db-be8c-9ef95abb3ac3">Federal Statistics Office</a>, producer and import prices grew by 0.3% in April, down from 0.4% recorded in February and 0.5% expected by most analysts. Slowdown in producer and import prices might reduce the overall level of inflation, lowering pressure on the Swiss central bank to increase interest rates. Lower interest rates will not be seen as good news for the Swiss franc.

Those traders who believe interest rates in Switzerland are not likely to rise might be interested in ETFS Short Swiss Franc Long US Dollar ETC (Sterling) ETF (SCHP) and ETFS Short Swiss Franc Long US Dollar ETC ETF (<a class="ticker" href="/stock/schf#">SCHF</a>).

Swiss Producer and Import Prices Decrease in April (SCHP, SCHF)

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지난 두 달 동안 불확실성이 커지고 변동성이 지속되는 가운데, 외국인 투자자들이 투자금을 회수하면서 미국 증시의 새로운 지표는 불안한 추세를 보이고 있다.
무슨 일 있었나: 일요일(8일), 인기 투자 뉴스레터인 코베이시 레터(The Kobeissi Letter)에서 골드만삭스 데이터를 인용해 소셜미디어 엑스(X)에 게시한 바에 따르면, 외국인 투자자들은 5월에 미국 주식에서 370억 달러를 회수하여 4월에 70억 달러를 회수한 데 이어 두 달 연속으로 자금이 유출된 것으로 나타났다.
최소 1년 만에 월간 최대 규모인 이 급격한 자금 유출은 도널드 트럼프 대통령의 &#8216;해방의 날&#8217; 발표 이후 두 달이 넘도록 지속되는 관세와 무역 긴장이 지속되는 가운데 발생한 것이다.
4월 10일부터 90일간 일시적으로 무역 긴장이 완화되면서 국내 증시가 강세를 보였지만, 해외 자본은 계속해서 미국 시장에서 이탈하고 있다. 올해 들어 현재까지 310억 달러가 순유출되어 작년 11월부터 12월까지 순유입액이 2,100억 달러였던 것과 비교하면 급격한 투자심리 반전을 보이고 있다.
이는 SPDR S&amp;P 500 ETF 트러스트(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), 인베스코 QQQ 트러스트(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), SPDR 다우 존스 산업평균 ETF 트러스트(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)가 지난 두 달 동안 강한 회복세를 보이며 각각 2.48%, 3.86%, 1.08% 상승한 것과 관련이 있다.
이러한 이탈은 지정학적 불안정, 환율 변동, 미국 무역 및 재정 정책에 대한 우려 등 거시적 리스크가 단기적인 시장 낙관론보다 더 큰 영향을 미치고 있음을 시사한다.
이 게시물은 "외국인이 미국 주식에서 이탈하고 있다"고 결론을 내리며 국내외 투자심리 사이에 차이가 있음을 강조했다.
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
BREAKING: Foreign investors withdrew a net -$37 billion out of US equities in May, the most in at least 12 months, according to Goldman Sachs.
This marks the 2nd consecutive monthly net withdrawal after -$7 billion in April.
Year-to-date, foreign investors have withdrawn a net… <a href="https://t.co/LZ4J52a7be">pic.twitter.com/LZ4J52a7be</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1931425677502230658?ref_src=twsrc%5Etfw">June 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
왜 중요한가: 트럼프의 관세를 강력하게 비판해 온 경제학자 피터 쉬프는 지난 4월에 "트럼프는 관세가 자본을 미국으로 끌어들일 것이라고 생각했다"며 이러한 자금 유출의 <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44883642/peter-schiff-rings-alarm-after-foreign-investors-dump-6-5-billion-in-us-equities-in-a-week-quips-trump-thought-tariffs-would-bring-capital-into-america" target="_blank" rel="noopener">아이러니를 지적한 바 있다.</a> 그는 &#8220;하지만 오히려 미국 자산의 글로벌 유출을 촉발했다&#8221;고 지적했다.
이러한 변화는 미국 내 투자자들에게도 나타나고 있으며, 슈왑 국제 주식 ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHF#NYSE">SCHF</a>)와 뱅가드 총 국제 주식 지수 펀드 ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VXUS#NASDAQ">VXUS</a>)가 각각 18.55% 및 15.60% 상승하며, 최근 몇 주 동안 각각 <a href="https://www.benzinga.com/25/05/45550710/investors-ditch-us-stocks-as-international-etfs-hit-52-week-highs-heres-whats-driving-the-portfolio-pivot" target="_blank" rel="noopener">52주 최고치를 기록했다.</a>
사진 제공: Gsign76 On Shutterstock.com
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