New ETFs On The Block: Victory CEMP Emerging Market Volatility Wtd Index ETF (CEZ)

Ulli Emerging Markets ETFs Contact

95551488After enduring turmoil in China and growth worries in Europe, emerging markets managed to get on its feet lately, as evidenced by the performance of different EM indices. That didn’t go unnoticed by Ohio-based Victory Capital, which recently launched a strategic beta fund focused on emerging markets.

The Victory CEMP Emerging Market Volatility Weighted Index ETF (CEZ) is the firm’s 11th launch and the first since Victory Capital acquired Compass EMP less than a year ago.

The new fund will track the performance of the CEMP Emerging Market 500 Volatility Index – an index developed in-house, and can be considered by investors looking for exposure in emerging markets through a low-risk alternative in order to diversify their portfolios.

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ETF/No Load Fund Tracker Newsletter For April 29, 2016

Ulli ETF Tracker Contact

ETF/No Load Fund Tracker StatSheet

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https://theetfbully.com/2016/04/weekly-statsheet-for-the-etfno-load-fund-tracker-newsletter-updated-through-04282016/

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Market Commentary

RUNNING OUT OF STEAM

Fri pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

Coming off one of the worst day for stocks since early February, domestic shares were under pressure again today. Investors have been reacting to mixed earnings reports and maybe, just maybe, the realization is sinking in that the economy is simply underperforming.

Despite the sloppy finish to the week, the Dow and S&P 500 ended April with tiny gains, with the Dow up 0.5% for the month and the S&P 0.3%. The Nasdaq did not fare nearly as well, falling 1.9% in April.

Wall Street, of course, is coping with the worst stretch for corporate profits since 2008, with earnings on track for a third straight quarter of negative growth. While there have been big beats, such as Facebook (FB) and Amazon.com (AMZN), there also have been a number of disappointments by major players ranging from Apple (AAPL) to Google parent Alphabet (GOOG).

In earnings reports Friday, oil giant Exxon Mobil (XOM) said profit fell 63% but still topped very low earnings expectations, posting earnings per share of 43 cents, topping the 31 cents forecast. Exxon Mobil, which has been savaged by the drop in oil prices to 13-year lows back in mid-February, posted revenues of $48.71 billion, which also topped estimates. Chevron, however, fell short of profit expectations but beat revenue expectations.

Investors are still digesting recent decisions by the U.S. Federal Reserve to hold off on interest rate hikes, and a surprise decision yesterday by the Bank of Japan not to inject more stimulus into its ailing economy.

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Weekly StatSheet For The ETF/No Load Fund Tracker Newsletter – Updated Through 04/28/2016

Ulli ETF StatSheet Contact

ETF/Mutual Fund Data updated through Thursday, April 28, 2016

TOC042816

If you are not familiar with some of the terminology used, please see the Glossary of Terms.

 

1. DOMESTIC EQUITY MUTUAL FUNDS/ETFs: BUY — since 4/4/2016

TTI

Our main directional indicator, the Domestic Trend Tracking Index (TTI-green line in above chart) has recently crawled above its long term trend line (red) by +1.42% generating a new Domestic Buy signal effective 4/4/2016 as posted on the blog.

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BoJ “Holds” and Wall Street “Folds;” Icahn Spooks Markets

Ulli Market Commentary Contact

Thur pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

The major indexes had not much too cheer about during the regular session, which started on a bad omen from Japan with the BoJ surprising world markets by capping their monetary stimulus, which was expected to continue with full force. As we all know by now, without central bank stimulus, equity markets will not be able to cling to these lofty levels for any length of time.

The Nikkei dropped some 1,500 points right out of the gate but managed to recover half of that during the session. Then China stepped on the breaks attempting to control its latest bubble, namely the insane volume contributed to wild commodity speculation.

And last not least, mega investor Carl Icahn disclosed, after having advocated a price target for Apple (AAPL) of some $240 over the past few years, that he had changed his mind and had liquidated all holdings. That did not sit well with Wall Street and Apple gave back another 3% leaving it wide open as to which major institutional investors, like hedge funds, will be the next ones to pull the trigger.

Saving the afternoon session were Amazon, LinkedIn and Pandora, all of which beat earnings estimates.

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Fed Holds Steady—Facebook Beats And Rips In After Hours Session

Ulli Market Commentary Contact

Wed pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

As was to be expected, the Fed held interest rates steady for the third consecutive meeting. The FOMC statement was neutral and contained the usual language of “assessing economic and labor conditions, inflationary pressures and expectations along with readings on financial and international developments before determining the size of future interest rate adjustments,” which leaves things wide open to their discretion.

The market’s reaction was slightly bullish but lacking the exuberance of the past, which could indicate that the bull market is getting tired. Although this afternoon, the beaten down Nasdaq received some good news for a change when Facebook (FB) crushed earnings estimates and saw its shares skyrocket by some 9% as of this writing.

Whether this was simply an outlier when it comes to tech world earnings remains to be seen, but I am curious if these numbers are enough to prop up the major indexes, at least for the short term.

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A Mixed Day, But: Apple Tumbles 8% In After Hours Trading; Twitter Crashes 14%

Ulli Market Commentary Contact

Tue pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

It was a fairly quiet day during the regular session despite a host of economic data points that can be summed up with one word: dismal. But none of that matters in a centrally planned economy where fundamentals are immaterial and where Wall Street hangs on to every new utterance by the the masters of the financial universe, namely the Fed.

This was the case today with poor economic data being brushed aside as all eyes are now on the Fed when they release the latest monetary policy statement due out tomorrow around 11:15 PST. A rate hike is not expected but the search for hints as to the timing of the next one will be on everyone’s mind.

This afternoon Twitter got crushed and lost over 14% while Apple disappointed and dropped some 8% as of this writing. At the same time, the FANGs (Facebook, Amazon, Netflix, Google) had their worst 3-day run in almost 3 months. None of this will bode well for the Nasdaq’s opening tomorrow morning. But, I am hopeful that the Fed as usual will come to the rescue…

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