ETF Strategies and Tactics Hedge Your Portfolio in a Changing Market

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2008-04-14
  • Publisher: McGraw-Hill Education
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In just a decade, the exchange-traded funds (ETFs) market has grown from one billion dollars to more than half-a-trillion dollars.While previous books have provided introductions to and listings of ETFs,ETF Strategies and Tacticsoffers practical guidance on how to invest in these funds and use them to balance your portfolio.Written by a powerhouse authorial team,ETF Strategies and Tacticsthoroughly covers the ins and outs of ETFs, detailing how they work, their distinctive characteristics, who trades them, who owns them, and their advantages and disadvantages compared with other investment vehicles. As markets evolve, new ETFs come and go. This authoritative reference will keep you on top of your game by providing focused decision-making techniques that help determine the viability of any ETF, including its value in sector and international investing.While laying out a proven, systematic ETF investment plan,ETF Strategies and Tacticscovers such valuable topics as: ETFs vs. mutual funds How ETFs are developed, what types of indexes are used, and the costs that determine returns How ETF regulations can help investors spot red flags in a fund and avoid tax problems The underlying tools of every ETF that can contribute to effective trading and minimized costs and taxes The proper use of ETFs based on an investor's goals and his/her ability to manage risk The unique short-selling opportunities associated with ETFs ETF options How to trade ETFs in the European market Inverse ETFs that go up when the market goes downComplete with one-on-one interviews with professionals from major ETFs, as well as a number of valuable appendixes,ETF Strategies and Tacticsis a unique guide you will keep at your fingertips during your day-to-day activities.

Author Biography

Laurence M. Rosenberg is the former chairman of the Chicago Mercantile Exchange.

Neal Weintraub is director of education and strategy for World Wide Associates, Ltd., and author of Tricks of the Active Trader (0-07-146863-3).

Andrew S. Hyman is marketing director at Fiske Walter Capital Management.

Table of Contents

Acknowledgmentsp. xiii
Introductionp. xix
What Are ETFs, and What Makes Them Good
Investments?p. 1
What Is an ETF?p. 2
Origins of ETFsp. 2
Growth of the ETF Marketp. 5
Product Varietiesp. 6
Why Investors Are Embracing ETFsp. 7
ETFs Compared to Mutual Fundsp. 11
The Investment Universep. 12
Investment Companiesp. 14
Expensesp. 26
Tax Efficiencyp. 36
Similarities and Differences between Mutual Funds and ETFsp. 42
How ETFs Workp. 47
Buying and Selling ETFs: An Illustrationp. 47
ETF Mechanismp. 49
Arbitrage and ETFsp. 51
Differences between Unit Investment Trusts and Open-End Companiesp. 52
Grantor Trusts/HOLDRsp. 54
Actively Managed ETFs in the Futurep. 57
ETF Regulationp. 61
ETFs and ETF Look-Alikesp. 62
Illustration of an ETF Look-Alikep. 64
Personnel Issuesp. 66
Taxesp. 69
Regulations outside the United Statesp. 72
ETF Indexesp. 77
What Are Indexes?p. 77
Development of an Indexp. 79
Index Diversityp. 82
Major Indexes Measured by ETFsp. 83
Tax Issuesp. 85
The ETF Universep. 89
ETF Investment Optionsp. 89
Classification by Capitalizationp. 99
Broad Market Indexp. 100
Funds Classified by Market Capitalization of Investmentsp. 101
Stylep. 104
International Fundsp. 109
Sectorp. 114
Specialty Fundsp. 122
Commodityp. 125
Currencyp. 125
Fixed Incomep. 126
Support and Resistance with Pivotsp. 129
Pivot Points and ETFsp. 130
Moving Averages and ETFsp. 133
What about Swing Trading?p. 135
ETF Money Managementp. 145
Margin-to-Equity Parameterp. 145
Short Selling: Securities and ETFsp. 153
Short Selling Securitiesp. 154
Short Selling ETFsp. 154
Hedging Your Portfoliop. 156
ETF Arbitrage and Spreadingp. 159
Forms of Arbitragep. 160
ETF Arbitragep. 161
Advantages of Spreadingp. 162
Identifying Arbitrage Opportunitiesp. 163
Options for ETFsp. 165
Four Basic Strategiesp. 166
Option Terminologyp. 167
Option Strategiesp. 169
Evaluating ETFsp. 173
Price/Earnings Ratiop. 173
Price/Sales Ratiop. 174
Financial Ratiosp. 175
Analyze the Company's Profitabilityp. 176
Getting the Research Donep. 180
ETFs and Market Activityp. 183
Read the Trends ... and That Includes ETFsp. 184
Trade in Terms of Probabilityp. 187
Design, Maintain, and Manipulate Your ETF Portfoliop. 191
Develop Your "Watch List" of ETFsp. 191
Export Your Portfolio into Excelp. 194
Maintain and Manipulate Your Portfoliop. 197
Two Significant Trading Strategiesp. 199
European ETFsp. 203
Invest in European ETFsp. 204
ETF Choicesp. 205
ETF Managers-Europe and the United Statesp. 205
Taxesp. 209
Regulationp. 210
Strategiesp. 211
European Currency ETFsp. 211
Europe Is Not One Countryp. 212
Eurozone Issuesp. 212
ETF Practical Applicationsp. 223
Navigating Web Pagesp. 224
Examine Typical ETF Screensp. 225
Herd Mentalityp. 232
ETF Spreadsp. 233
One-on-One Interviews: Leading ETF Providersp. 241
American Stock Exchange: The Birthplace of Exchange-Traded Fundsp. 242
Dow Jonesp. 246
iShares Germanyp. 250
Keefe, Bruyette, and Woods (KBW)p. 256
Van Eck Globalp. 265
WisdomTreep. 268
XShares and HealthSharesp. 275
U.S. ETFs and Trading Volume as of October 1, 2007p. 287
SPDR Strategiesp. 313
Building a Customized and Diversified Equity Portfolio That Matches Your Specific Objectivep. 313
Manage Risk through Asset Allocation by Sectorp. 315
Rebalance Portfolio Based on Current Sector Weightingsp. 317
Gain Diversified Access to Attractive Investment Themesp. 318
Enhance After-Tax Returns with Tax Swapsp. 319
Use ETF Flexibility to Hedge Concentrated Positionsp. 320
Web Sitesp. 323
www.finance.yahoo.comp. 323
www.etfguide.comp. 325
www.etfconnect.comp. 326
www.indexuniverse.comp. 327
www.finra.orgp. 328
www.amex.com/etf/EtMain.jspp. 330
www.fidelity.comp. 331
www.geckosoftware.comp. 333
www.investors.com/etfp. 333
www.lrosenberg.comp. 334
www.seekingalpha.comp. 335
www.cheatthestreet.comp. 336
www.vanguard.comp. 336
www.optionsxpress.comp. 337
Endnotesp. 339
Bibliographyp. 347
Indexp. 351
Table of Contents provided by Ingram. All Rights Reserved.

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