Core Viewpoint - The SPDR S&P Transportation ETF (NYSEARCA: XTN) was previously reviewed over three years ago, with a recommendation against buying due to high risk factors [1] Group 1 - The Sunday Investor has completed educational requirements for the Chartered Investment Manager designation and is on track to become a licensed options and derivatives trading advisor [1] - The Sunday Investor focuses on U.S. Equity ETFs and maintains a comprehensive ETF Database tracking nearly 1,000 funds [1] - The Sunday Investor is active in the comments section, ready to answer questions about any ETF [1]

Group 1: Regulatory Developments - The China Securities Regulatory Commission (CSRC) has approved the registration of monthly average futures for linear low-density polyethylene, polyvinyl chloride, and polypropylene at the Dalian Commodity Exchange [1] - The Guangzhou Futures Exchange is actively promoting the research and listing of platinum, palladium, and lithium hydroxide futures, expected to launch this year [1] Group 2: Market Trends - The number of ETFs with over 10 billion yuan in assets has surpassed 90, with the total ETF scale exceeding 4.6 trillion yuan, driven by thematic products in technology, dividends, and innovative pharmaceuticals [1] - Bond funds are facing significant redemption pressure, with over 200 billion yuan in bond sales in the first four days of the week, including nearly 100 billion yuan in a single day [2] Group 3: Insurance Sector - The preset interest rate for traditional life insurance products has been lowered by 50 basis points to 2.0%, while the guaranteed interest rate cap for participating insurance has been reduced to 1.75% [3] Group 4: Company Performance - IMAX China reported a record 25 million moviegoers in the first half of 2025, generating approximately 416 million yuan in revenue, doubling the box office compared to the same period last year [4] - LVMH's net profit for the first half of 2025 fell by 22% to 5.7 billion euros, with a significant decline in sales in Japan due to currency appreciation [4] - Vanke has successfully sold the Shanghai Jinqiao Wanchuang Center project, with market speculation suggesting a transaction price of around 1.4 billion yuan [5] - China Communications Construction Company signed new contracts worth 991.05 billion yuan in the first half of the year, a year-on-year increase of 3.14% [5] - Fudan Fuhua terminated the transfer of a 28% stake in a subsidiary due to a lack of interested buyers [6] - Feima International received 437 million yuan in performance compensation from its controlling shareholder [7] - Shanghai Construction Group reported a net profit of 710 million yuan in the first half of the year, a decrease of 14.04% [8] - Funi Co., Ltd. achieved a net profit of 1.337 billion yuan in the first half of the year, an increase of 12.48% [10] - Western Mining reported a net profit of 1.869 billion yuan in the first half of the year, a growth of 15% [11] - Bomaike's net profit dropped by 80.42% to 12.39 million yuan in the first half of the year [12]

Core Insights - The Invesco Dow Jones Industrial Average Dividend ETF (DJD) is designed to provide broad exposure to the large-cap blend category and was launched on December 16, 2015 [1] - DJD aims to match the performance of the Dow Jones Industrial Average Yield Weighted index, focusing on high-yielding equity securities [5][6] Fund Overview - DJD is managed by Invesco and has accumulated over $366.38 million in assets, categorizing it as an average-sized ETF in its segment [5] - The ETF has an annual operating expense ratio of 0.07%, making it one of the least expensive options in the market [7] - The 12-month trailing dividend yield for DJD is 2.67% [7] Sector Exposure and Holdings - The fund has a significant allocation to the Healthcare sector at 17.6%, followed by Financials and Information Technology [8] - Verizon Communications Inc (VZ) constitutes approximately 10.79% of total assets, with Chevron Corp (CVX) and International Business Machines Corp (IBM) also among the top holdings [9] - The top 10 holdings represent about 57.01% of DJD's total assets under management [9] Performance Metrics - DJD has experienced an 8.7% gain year-to-date and a 15.55% increase over the past year as of July 24, 2025 [11] - The ETF has traded between $47.46 and $54.48 in the past 52 weeks [11] - DJD has a beta of 0.77 and a standard deviation of 13.65% over the trailing three-year period, indicating more concentrated exposure compared to peers [11] Alternatives - Other ETFs in the large-cap blend space include SPDR S&P 500 ETF (SPY) and Vanguard S&P 500 ETF (VOO), with assets of $655.39 billion and $699.11 billion respectively [12] - SPY has an expense ratio of 0.09%, while VOO charges 0.03% [12]

Core Insights - The iShares Core High Dividend ETF (HDV) is a smart beta ETF launched on March 29, 2011, providing broad exposure to the Large Cap Value category [1] - HDV is sponsored by Blackrock and has accumulated over $11.22 billion in assets, making it one of the larger ETFs in its category [5] - The ETF aims to match the performance of the Morningstar Dividend Yield Focus Index, which includes high-quality U.S. companies with strong financial health and above-average dividend payouts [5] Fund Characteristics - HDV has an annual operating expense of 0.08%, positioning it as one of the least expensive options in the market [6] - The ETF has a 12-month trailing dividend yield of 3.38% [6] - The fund's largest sector allocation is in Healthcare, comprising approximately 22.5% of the portfolio, followed by Energy and Consumer Staples [7] Holdings and Performance - Exxon Mobil Corp (XOM) is the largest holding, accounting for about 8.97% of total assets, with the top 10 holdings representing approximately 50.15% of HDV's total assets [8] - The ETF has returned roughly 8.49% year-to-date and 11.81% over the past year, with a trading range between $108.41 and $121.28 in the last 52 weeks [10] - HDV has a beta of 0.64 and a standard deviation of 13.12% over the trailing three-year period, indicating medium risk [10] Alternatives - Other ETFs in the same space include Schwab U.S. Dividend Equity ETF (SCHD) and Vanguard Value ETF (VTV), with SCHD having $71.39 billion in assets and VTV at $141.38 billion [12] - SCHD has an expense ratio of 0.06% and VTV at 0.04%, presenting lower-cost alternatives for investors [12]

Core Insights - The SoFi Select 500 ETF (SFY) offers broad exposure to the Style Box - Large Cap Growth category, making its debut on April 11, 2019 [1] - SFY is designed for investors looking to outperform the market through stock selection, utilizing non-cap weighted strategies based on fundamental characteristics [3][4] - The fund is managed by Sofi and has accumulated over $516.29 million in assets, aiming to match the performance of the SOLACTIVE SOFI US 500 GROWTH INDEX [5][6] Fund Details - SFY has an annual operating expense ratio of 0.05%, positioning it as one of the least expensive ETFs in its category, with a 12-month trailing dividend yield of 0.54% [7] - The ETF has a significant allocation in the Information Technology sector, comprising about 39% of the portfolio, with top holdings including Nvidia Corp (13.32%), Microsoft Corp, and Amazon.com Inc [8][9] Performance Metrics - As of July 24, 2025, SFY has increased by approximately 12.34% year-to-date and 21.73% over the past year, with a trading range between $90.76 and $121.62 in the last 52 weeks [10] - The ETF has a beta of 1.07 and a standard deviation of 18.94% over the trailing three-year period, indicating effective diversification with around 504 holdings [10] Competitive Landscape - SFY is positioned as a strong option for investors seeking to outperform the Style Box - Large Cap Growth segment, with alternatives like Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ) also available [11] - VUG has $179.85 billion in assets and an expense ratio of 0.04%, while QQQ has $358.67 billion in assets with a 0.20% expense ratio [11]

Core Insights - The Global X U.S. Infrastructure Development ETF (PAVE) is designed to provide broad exposure to the Utilities - Infrastructure segment of the equity market and was launched on March 6, 2017 [1] - PAVE has amassed over $9.12 billion in assets, making it one of the largest ETFs in its category [3] - The fund seeks to match the performance of the INDXX U.S. Infrastructure Development Index, which includes companies involved in various aspects of infrastructure development [4] Fund Details - PAVE has an annual operating expense ratio of 0.47%, which is competitive within its peer group, and a 12-month trailing dividend yield of 0.54% [5] - The ETF has a significant allocation in the Industrials sector, comprising approximately 74.10% of the portfolio, with Materials and Utilities as the next largest sectors [6] - The top three holdings include Howmet Aerospace Inc (4.22%), Fastenal Co, and Quanta Services Inc, with the top 10 holdings accounting for about 32.52% of total assets [7] Performance Metrics - As of July 24, 2025, PAVE has returned approximately 14.48% year-to-date and 18.22% over the past year, with a trading range between $33.78 and $46.15 in the last 52 weeks [8] - The ETF has a beta of 1.23 and a standard deviation of 21.47% over the trailing three-year period, indicating effective diversification of company-specific risk [8] Investment Considerations - PAVE holds a Zacks ETF Rank of 2 (Buy), indicating strong expected asset class return, favorable expense ratio, and positive momentum [10] - Other ETFs in the infrastructure space include the First Trust NASDAQ Clean Edge Smart Grid Infrastructure ETF (GRID) and the iShares Global Infrastructure ETF (IGF), with GRID having $2.94 billion in assets and IGF having $7.57 billion [11]

Core Viewpoint - The Schwab Fundamental U.S. Large Company ETF (FNDX) is a smart beta ETF designed to provide broad exposure to the Large Cap Value category, with a focus on fundamental characteristics to enhance risk-return performance [1][3][5]. Fund Overview - FNDX was launched on August 13, 2013, and has accumulated over $18.97 billion in assets, making it one of the largest ETFs in its category [1][5]. - The fund is managed by Charles Schwab and aims to match the performance of the Russell RAFI US Large Co. Index [5]. Cost Structure - The ETF has an annual operating expense ratio of 0.25%, which is competitive within its peer group [6]. - It offers a 12-month trailing dividend yield of 1.72% [6]. Sector Exposure and Holdings - The fund has a significant allocation to the Financials sector, representing 17.4% of the portfolio, followed by Information Technology and Healthcare [7]. - Apple Inc (AAPL) constitutes approximately 3.86% of the fund's total assets, with the top 10 holdings accounting for about 20.25% of total assets under management [8]. Performance Metrics - As of July 23, 2025, FNDX has increased by approximately 6.39% year-to-date and 10.67% over the past year [10]. - The ETF has a beta of 0.93 and a standard deviation of 15.23% over the trailing three-year period, indicating a medium risk profile [10]. Alternatives - Other ETFs in the Large Cap Value space include Schwab U.S. Dividend Equity ETF (SCHD) and Vanguard Value ETF (VTV), which have larger asset bases and lower expense ratios [12].

Core Insights - The Franklin U.S. Mid Cap Multifactor Index ETF (FLQM) is designed to provide broad exposure to the Mid Cap Blend category and was launched on April 26, 2017 [1] - FLQM is managed by Franklin Templeton Investments and has accumulated over $1.67 billion in assets, making it an average-sized ETF in its category [5] - The ETF seeks to match the performance of the LibertyQ U.S. Mid Cap Equity Index, which focuses on mid-cap companies with favorable exposure to quality, value, momentum, and low volatility factors [5] Fund Characteristics - FLQM has an annual operating expense ratio of 0.30%, which is competitive within its peer group, and a 12-month trailing dividend yield of 1.39% [6] - The fund's largest sector allocation is to Industrials at 19.9%, followed by Consumer Discretionary and Financials [7] - The top 10 holdings account for approximately 10.63% of total assets, with Ferguson Enterprises Inc (FERG) being the largest individual holding at 1.18% [8] Performance Metrics - As of July 23, 2025, FLQM has gained about 2.36% year-to-date and approximately 5.39% over the past year [10] - The ETF has traded between $46.92 and $58.81 in the last 52 weeks, with a beta of 0.97 and a standard deviation of 16.48% over the trailing three-year period [10] - FLQM holds around 208 stocks, effectively diversifying company-specific risk [10] Alternatives - Other ETFs in the mid-cap space include Vanguard Mid-Cap ETF (VO) and iShares Core S&P Mid-Cap ETF (IJH), which have significantly larger asset bases of $85.39 billion and $98.03 billion, respectively [12] - VO has a lower expense ratio of 0.04% and IJH has an expense ratio of 0.05%, making them potentially more attractive options for cost-conscious investors [12]

Core Insights - The Vanguard Small-Cap Value ETF (VBR) is a passively managed fund launched on January 26, 2004, with over $30.57 billion in assets, making it the largest ETF in the Small Cap Value segment of the US equity market [1] - Small cap companies, defined as those with market capitalizations below $2 billion, present high potential but also come with higher risks [2] - Value stocks typically have lower price-to-earnings and price-to-book ratios, but also exhibit lower sales and earnings growth rates compared to growth stocks [3] Costs - The ETF has an annual operating expense ratio of 0.07%, positioning it as one of the least expensive options in its category [4] - It offers a 12-month trailing dividend yield of 2.03% [4] Sector Exposure and Top Holdings - The ETF's largest allocation is to the Financials sector, comprising approximately 21.70% of the portfolio, followed by Industrials and Consumer Discretionary [5] - Individual holdings include Slcmt1142 at about 1.08% of total assets, with NRG Energy Inc (NRG) and Emcor Group Inc (EME) also among the top holdings [6] Performance and Risk - VBR aims to match the performance of the CRSP U.S. Small Cap Value Index, having gained roughly 3.30% year-to-date and 6.60% over the past year as of July 23, 2025 [7] - The ETF has traded between $162.76 and $217.30 in the past 52 weeks [7] - With a beta of 1.03 and a standard deviation of 19.72% over the trailing three years, it is classified as a medium-risk investment [8] Alternatives - VBR holds a Zacks ETF Rank of 2 (Buy), indicating strong expected returns and favorable expense ratios [9] - Other comparable ETFs include the Schwab Fundamental U.S. Small Company ETF (FNDA) with $8.62 billion in assets and an expense ratio of 0.25%, and the iShares Russell 2000 Value ETF (IWN) with $11.09 billion in assets and an expense ratio of 0.24% [10] Bottom-Line - Passively managed ETFs like VBR are gaining popularity among both institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [11]

Core Viewpoint - The iShares MSCI USA Value Factor ETF (VLUE) is a passively managed ETF that provides broad exposure to the Large Cap Value segment of the US equity market, with significant assets under management and low operating costs [1][4]. Group 1: ETF Overview - VLUE was launched on April 16, 2013, and is sponsored by Blackrock, accumulating over $6.79 billion in assets [1]. - The ETF targets large cap companies, defined as those with market capitalizations above $10 billion, which are generally considered stable investments [2]. Group 2: Value Stocks Characteristics - Value stocks typically exhibit lower price-to-earnings and price-to-book ratios, but also have lower sales and earnings growth rates compared to growth stocks [3]. - Historically, value stocks have outperformed growth stocks in most markets, although they may underperform during strong bull markets [3]. Group 3: Cost and Performance - VLUE has an annual operating expense ratio of 0.15% and a 12-month trailing dividend yield of 2.62%, making it one of the least expensive ETFs in its category [4]. - The ETF aims to match the performance of the MSCI USA Enhanced Value Index, achieving a return of approximately 10.10% year-to-date and 9.55% over the past year as of July 23, 2025 [7]. Group 4: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 33% of the portfolio, followed by Financials and Consumer Discretionary [5]. - Cisco Systems Inc (CSCO) is the largest holding at approximately 6.88% of total assets, with the top 10 holdings accounting for about 33.86% of total assets under management [6]. Group 5: Risk and Diversification - VLUE has a beta of 0.95 and a standard deviation of 16.92% over the trailing three-year period, indicating a medium risk profile [8]. - The ETF holds around 154 different stocks, effectively diversifying company-specific risk [8]. Group 6: Alternatives - Other ETFs in the same space include the Schwab U.S. Dividend Equity ETF (SCHD) and the Vanguard Value ETF (VTV), which have larger asset bases and lower expense ratios [11]. Group 7: Conclusion - Passively managed ETFs like VLUE are increasingly popular due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investors [12].