Category Archives: ETF Insight Articles

“Surprise” Stephen … (TWTW – Sept 4-8, 2017)

"Surprise" Stephen ... Well, one thing is for certain, markets didn't see Stephen Poloz coming with his second 25bps hike, delivered this week. The consensus was - later aka October, likely - but September, nope, et pourtant - a second BoC hike materialized... CAD surged, and meanwhile, the odds of a further hike by year...

Seasonal Glitch? (Perspectives – September 2017)

Seasonal Glitch? Aside from the fact that September and October have generally proved plenty challenging to markets, we now have to contend with a continuing escalation of both rethoric, as well as provocative acts on the part of North Korea ... Markets, which to this point, have been rather resilient and seemingly immune to politics,...

Probable Termination (TWTW – Aug 21-25, 2017)

Probable Termination - President Trump - at his finest "posturing" - this time with regards to #NAFTA, the renegotiations of which, naturally - MUST produce for him a tremendous SUCCESS ... Hence his uttering the notion the agreement will probably have to be terminated as he otherwise doubts renegotiations will yield that for him ... Latest...

Alt Trump (TWTW – Aug 14-18, 2017)

Alt Trump -  It's getting lonely on planet Trump, no matter what the luxurious trappings. And consistently succeeding in alienating one and all has got to have its drawbacks. In terms of additional fireworks on the way to getting even more folks upset, respectively even less accomplished overall (?) - enter NAFTA re-negotiations - The...

Fire and Fury (TWTW – Aug 7-11, 2017)

Fire and Fury - Locked and Loaded ... the rhetoric heated up significantly this past week, with President Trump signalling he wouldn't tolerate North Korea making threats against US territory.  Not to be outdone (do we really need that? isn't one potentially trigger happy leader enough?), North Korea's leader Kim Jong Un responded by threatening...

Divergence (TWTW – Jul 31-Aug 4, 2017)

Divergence - While the Dow crossed the 22,000 level last week, Transports struggle, and as noted by pundits, many companies beating earnings and even guiding higher for 2017 aren't being "rewarded" by the market post "beat". A change of "fortunes" going forward? July Payrolls beat as well, and unemployment dipped to 4.3%. Room for further...

Red Line? (TWTW – July 24-28, 2017)

Red Line? North Korea's continued defiance of the US - via a second ICBM launch test on Friday - is probably the last thing the US Administration needs after an overwhelming week on the Washington dysfunction front ... Skinny Healthcare: defeated, courtesy Senator John McCain striking the final blow to it; Trump's new communications director: went...

Sid the Kid? SID could grow nicely … Will it?

Bottom line: SID's methodology - underpinned by a systematically applied Technical Analysis methodology - looks to deliver in an ETF format, a disciplined, and risk controlled means of accessing returns which on a historical basis - had the strategy been "live", in an ETF over the last decade - would be deemed rather enviable -...

Sweet #MAGA (TWTW – July 17-21, 2017)

Sweet #MAGA - Or ... Sweet Nothing, which seems to be what the Administration has accomplished thus far on numerous fronts... Oh well, at least a weaker USD provides a window for the FED to continue to hike rates, even if Janet Yellen remains a perma Dove, and US stocks continue to do rather well,...

Mid-July Flows: Summer lulls …

Hardly anything to report as at mid-month, as far as inflows, respectively market impact, both of which are considered rather modest in relation to June 30, 2017 AUM levels. Likely the pause that refreshes as it were, with plenty of action on the way, presumably, for back to school......

10 ETFs I’d get rid of …

10 ETFs I'd get rid of ... and no, I don't own any of them ... While product proliferation and expansion in the ranks of ETFs Providers is the order of the day and likely to continue to be at the forefront for some time to come, last week's announcement by iShares of some ETF terminations...

Suppressing Decoherence (TWTW – July 10-14, 2017)

Suppressing Decoherence - A Quantum Computing concept that capture well the essence of what Central Bankers face going forward as they push ahead with a long overdue normalization ... Getting out from under the massive damage inflicted by the 2008/2009 Global Financial crisis has proven no small feat, and any glitches from here could...

Rising Rates (TWTW – Jul 3-7, 2017)

And it is a 94% probability event ... that the BoC will hike rates this week, on the back of a strong Canadian Employment number on Friday. State-side, the US also enjoyed a stronger than expected NFP number, with upward revisions to prior readings. All-in ... Not good for bonds, where yields have continued to...

Second Half? (Perspectives – July 2017)

Second Half? With ETFs in Canada enjoying record net inflows (Est: +$15.5 Billion) in H1, 2017,  market volatility still remarkably tame, and a generally favorable market backdrop - the question is whether these conditions will continue to prevail for the rest of 2017. Naturally,  it will also be interesting to see what trends investors chose...

O’Canada (TWTW – June 26-30, 2017)

O'Canada - ... And against the backdrop of a sharply ascending Loonie in June (+4.2% m/o/m vs the USD), Canada celebrates its 150th Birthday, eagerly anticipating what H2, 2017 will bring ... which according to rising odds, first off entails a rate hike by the Bank of Canada. This is a remarkable turn of events relative...

HMMJ – The Marijuana ETF

For those interested in marijuana stocks and who have been looking for a way to add some exposure to this new and burgeoning industry, HMMJ may just be the ticket!Horizon's CEO, Steve Hawkins, provided an update on HMMJ, the world's first marijuana ETF on a webinar held Tuesday (27/6). Below are some highlights from his...

WisdomTree: Moving away from …

No - Not Canada ... But staying fairly close ... to the Aggregates (your bond betas being the aggregates, if you will). WisdomTree launched two fixed income ETFs on Monday:
  • The WisdomTree Yield Enhanced Canada Aggregate Bod Index ETF (CAGG)
  • and the WisdomTree Yield Enhanced Canada Short Term Aggregate Bond Index ETF (CAGS)
In so doing, the US...

Warren likes … (TWTW – June 19-23, 2017)

Warren likes ... Canada! and so last week, he got himself a "made for Warren" deal a la ... what he did as the 2008/2009 Global Financial crisis was battering everyone, with his capital injection into Goldman Sachs at the time. What is a "made for Warren" deal? One which features juicy terms and conditions...

CETFA 2017-2019: Onward and Upward

I had the opportunity to catch up with Atul Tiwari (Vanguard Canada) following CETFA (Canadian ETF Association) 's recent AGM, at which Atul passed on the organization's Chairmanship function to BMO's Kevin Gopaul. Here are a few points that emerged from my discussion with Atul:
  • Strong AUM growth during his 2 years tenure (AUM moving from...

Truthful Hyperboles (TWTW – June 12-16, 2017)

Truthful Hyperboles - ... And the Trump Saga continueth, with testimony this past week from AG Jeff Sessions and from then, already discussions of when, or how, the 45th President might dismiss Mueller or even his boss ... Where does that end? On the business front, yielding to sustained stock price-performance related pressure, GE replaced its...

FED up (TWTW – June 5-9, 2017)

FED up - Last week saw market participants riveted to their TV screens watching former FBI Director James Comey's testimony to Congress, pondering where this saga takes us to next. The focus then shifted to UK elections described as catastrophic for the Tories, with Theresa May's grip on power threatened.  On tap this week, we...

Climate … Whaaat? (Perspectives – June 2017)

Climate ... Whaaat?  Having left European leaders last week unimpressed, including in relation to article 5 and NATO, US President Donald Trump has now succeeded in drawing their ire - as he pulled the US out of the Paris Accord. Recent Developments:
  • May Payrolls underwhelm - but June's FED hike is still seen as in the...

The Arrogance of Entitlement (TWTW – May 22-26, 2017)

The Arrogance of Entitlement - President Trump's Travels to the Middle East and Europe - including a visit to the Pope - failed to relieve the pressure stemming from the FBI investigation into his campaign's dealings with Russia... This is as news surfaced that his son-in-law Jared Kushner was being asked about his efforts to establish...

Multivariate Unfitness (TWTW – May 15-19, 2017)

Multivariate Unfitness - The obvious headline was "Witch Hunt", that which would fit the President's narrative. Naturally, the "other" narrative is and for a while can very much be expected to remain rather uncomfortable. That narrative is that of the world's most powerful man, a man used to get his ways in probably more ways...

“Snap” Trump (TWTW – May 8-12, 2017)

"Snap" Trump - While by now renown for his rapid fire Twitter prowess berating opponents, belittling the press etc, President Trump might in fact have more in common with Snap... Lots of "flash", chutzpah or whatever you choose to call it ... and then ... poof, the picture / follow through has just vanished ... This,...

No Contest (TWTW – May 1-5, 2017)

No Contest - The pollsters had all along predicted Marine Le Pen would fall short in a contest with Emmanuel Macron, and they were right , as in the event, Macron's victory came in at 66/34 (almost like the balanced portfolio-like 60/40 the latest predictions stood at Friday). It looks like it is as good...

Against all Odds (Perspectives May 2017)

Against all Odds - Markets continue to defy the odds, high valuations in the US, rising geopolitical tensions in Asia, winds of war on the trade front (NAFTA) - and the ongoing rise of populism, notably in Europe. French Presidential elections held May 7th could - with a Macron victory - possibly given markets there...

100 Days (TWTW – Apr 24-28, 2017)

100 Days - The first 100 days of Donald Trump's Presidency came and went, with much sabre rattling, be it with North Korea, or in the context of NAFTA... Has much been accomplished? Perhaps one thing - President Trump actually realizing that it is a lot harder a job than he thought ... Q1 US GDP...

Inherited or Merited (TWTW – Apr 17-21, 2017)

Inherited or Merited ... On Being French - Marine Le Pen. One of two contenders for the French Presidency, to be decided on May 7, 2017. Le Pen came out on top with 24.2% of votes in first round held this Sunday, and will face Macron, who recorded 21.4% of the votes, with Republican Filon...