New ETFs On The Block: WisdomTree Western Asset Unconstrained Bond Fund (UBND)

Ulli Bond ETFs Contact

InvestingUnconstrained funds, as the name implies, break this shackle and provide the flexibility that may be required to operate across different market conditions. A world that is characterized by diverging central bank policies, uncontrollable government debt from Greece to Puerto Rico and massive stock market volatility, unconstrained strategy may appeal to investors that are looking to adjust portfolios quickly amid a fast changing global environment.

WisdomTree, the third largest US provider of actively-managed exchange-traded funds, collaborated with California based Western Asset Management Company to launch the industry’s first unconstrained bond ETF recently.

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ETF/No Load Fund Tracker Newsletter For July 17, 2015

Ulli ETF Tracker Contact

ETF/No Load Fund Tracker StatSheet

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THE LINK TO OUR CURRENT ETF/MUTUAL FUND STATSHEET IS:

https://theetfbully.com/2015/07/weekly-statsheet-for-the-etfno-load-fund-tracker-newsletter-updated-through-07162015/

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Market Commentary

INDEXES RALLY WITH THE NASDAQ MAKING A NEW ALL-TIME HIGH

Fri pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

One look at the 5-day chart tells the story of the past week. The bulls had their way with the Nasdaq making a new high supported by Google’s better-than-estimated earnings.

The S&P 500 added 2.4% but lagged a little as its energy share component declined. Still, the index managed to rally within 5 points of its all-time high. Earnings so far have provided some ammunition for this rebound, which also received an assist by the agreement of Greece and its creditors.

For the S&P it was its biggest weekly gain in 4 months, even though most of the rally was based on nothing but hope that the Greek resolution will hold and that the free-fall in Chinese equities has been contained.

Domestically, we heard that Fed chair Yellen is still talking about a rate increase this year; new-home construction climbed in June, the cost of living increased and consumer confidence declined.

Today, only 2 of our 10 ETFs in the Spotlight eked out a gain with the leader being the Global 100 (IOO), which added 0.45%. On the downside, the Dividend ETF (DVY) ruled by giving back -0.83%.

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Weekly StatSheet For The ETF/No Load Fund Tracker Newsletter – Updated Through 07/16/2015

Ulli ETF StatSheet Contact

ETF/Mutual Fund Data updated through Thursday, July 16, 2015

TOC021915

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 10/22/2014

TTI

Our main directional indicator, the Domestic Trend Tracking Index (TTI), broke through its long-term trend line generating a “Sell” for this arena effective 10/14/2014, which was followed by a violent break back above the line on 10/22/14 generating a new “Buy.” It was a classic whipsaw signal, and you can read more on my blog as to the events as they were unfolding.

As of today, our TTI (green line in above chart) is positioned above its long term trend line (red) by +1.83% keeping us in the market with our established positions.

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Equities Jump As Greece’s Fallout Appears Contained

Ulli Market Commentary Contact

Thur pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

Taking a cue from the European markets, U.S. equities joined the party and moved higher with Greek exit fears subsiding after approval of new austerity programs.

Giving an assist to the markets was ECB’s Mario Draghi who commented on their willingness to expand aid to some of the troubled banks. That was all it took, and U.S. equities never looked back.

What was not explained was that a Greek deal is far from being certain. Several of the European parliaments, including Germany’s, have to agree on letting their respective FinMins enter into a new agreement. Then they have to negotiate the actual detailed bailout deal with Greece, which has to be accepted again by the German Parliament, after which then the Greece parliament will have to give its stamp of approval, a process which might take some 6-8 weeks.

As you can see, we are nowhere near that euphoric point where we could declare the Greek situation as being resolved. But, today, these minor details did not matter to the markets; it was up, up and away.

All of our 10 ETFs in the Spotlight enjoyed the renewed upward momentum and closed higher led by Consumer Staples (XLP) with a gain of 1.03%. Lagging the group was the Mid-Cap Value ETF (IWS) which added a more modest 0.46%.

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Violent Greek Protests Pull Down Equities

Ulli Market Commentary Contact

Wed pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

Finally, the 4-day winning streak came to an end, but the losses were minor as a late day turnaround caused by violent Greek protests ahead of their parliamentary votes regarding the third bailout package pulled the rug out from initial upward momentum.

While we bounced successfully off the session’s lows, it remains to be seen if there is more fallout should the outcome of the Greece vote displease the masses.

Earlier in the day, China reported a GDP of 7% vs expectations of 6.9%, which was questioned by various media outlets. Of course, China would never fudge those numbers, but even the Shanghai index, based on its loss of over 3% for the day, seems to have a different view.

It was a tug-of-war today between bulls and bears with every piece of news being dissected carefully. Fed chief Yellen had to endure some tough questioning but is still in support of raising interest rates somewhat later on this year.

8 of our 10 ETFs in the Spotlight eked out small gains during this see-saw session. On the upside, Financials (IYF) led with +0.59%, while the loser of the day was the Mid-Cap Value ETF (IWS), which gave back -0.48%.

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Squeezing Out Another Day Of Gains

Ulli Market Commentary Contact

Tue pic

[Chart courtesy of MarketWatch.com]

1. Moving the Markets

Equities managed to inch higher for the 4th day in a row and added to their recent gains. From last Wednesday’s low for then month, the S&P has managed to rally over 3%, which was strictly based on hope for a resolution in Greece.

Today’s downer was the disappointing June retail sales number at -0.3% but, this is nowadays a positive for the market as it may change the Fed’s interest rate hike, which has  been on the front burner for quite some time now and is maybe scheduled for September.

Right now, all eyes are on Wednesday’s session where fireworks in form of a variety of events are on the menu. Starting with China’s GDP announcement, we’ll move to Fed chief Yellen’s testimony about the economic outlook, which maybe interrupted by the decision of the Greek parliament as to whether the new and extremely stringent reform measures negotiated last weekend will be accepted or not.

All of our 10 ETFs in the Spotlight again joined the upward momentum and added to the gains of the past 3 days. Healthcare (XLV) took to billing with +1.05%, while Consumer Discretionaries (XLY), yesterday’s winner, managed a meager +0.16%.

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