Core Insights - The First Trust Energy AlphaDEX ETF (FXN) is a smart beta ETF that provides broad exposure to the Energy sector, having debuted on May 8, 2007 [1] - The ETF industry has been traditionally dominated by market capitalization weighted indexes, but smart beta strategies aim to outperform through stock selection based on fundamental characteristics [2][3] - FXN is sponsored by First Trust Advisors and has assets totaling approximately $278.76 million, positioning it as an average-sized ETF in the Energy category [5] Fund Structure and Strategy - FXN seeks to match the performance of the StrataQuant Energy Index, which is a modified equal-dollar weighted index designed to identify stocks from the Russell 1000 Index that may generate positive alpha [6] - The fund has an annual operating expense ratio of 0.61% and a 12-month trailing dividend yield of 2.92%, which is competitive within its peer group [7] Sector Exposure and Holdings - The fund has a significant allocation to the Energy sector, representing 93.5% of its portfolio [8] - First Solar, Inc. (FSLR) is the largest holding at approximately 5.8%, with the top 10 holdings accounting for about 41.17% of total assets [9] Performance Metrics - Year-to-date, FXN has experienced a loss of approximately -3.71%, and over the last 12 months, it is down about -14.12% as of July 18, 2025 [11] - The fund has a beta of 0.90 and a standard deviation of 28.29% over the trailing three-year period, indicating a higher risk profile compared to peers [11] Alternatives in the Market - For investors seeking to outperform the Energy ETFs segment, alternatives such as the Vanguard Energy ETF (VDE) and the Energy Select Sector SPDR ETF (XLE) are available, with VDE having $7.15 billion in assets and XLE at $27.57 billion [13] - VDE and XLE have lower expense ratios of 0.09% and 0.08% respectively, making them more attractive options for cost-conscious investors [13]

Core Viewpoint - The Vanguard Large-Cap ETF (VV) is a significant player in the Large Cap Blend segment of the US equity market, with over $43.08 billion in assets, making it one of the largest ETFs in this category [1]. Group 1: Fund Overview - The Vanguard Large-Cap ETF was launched on January 27, 2004, and is passively managed [1]. - It targets companies with a market capitalization above $10 billion, which are generally stable and less volatile compared to mid and small cap companies [2]. Group 2: Costs and Performance - The ETF has an annual operating expense ratio of 0.04%, positioning it as one of the least expensive options in the market [3]. - It has a 12-month trailing dividend yield of 1.17% [3]. - As of July 18, 2025, the ETF has gained approximately 8.15% year-to-date and 14.79% over the past year, with a trading range between $228.25 and $289.94 in the last 52 weeks [6]. Group 3: Sector Exposure and Holdings - The ETF has a significant allocation of about 34% to the Information Technology sector, followed by Financials and Consumer Discretionary [4]. - Major holdings include Microsoft Corp (MSFT) at 6.80% of total assets, along with Nvidia Corp (NVDA) and Apple Inc (AAPL) [5]. Group 4: Risk Profile - The ETF aims to match the performance of the CRSP US Large Cap Index, which includes the top 85% of investable market capitalization in the US [6]. - It has a beta of 1.01 and a standard deviation of 17.25% over the trailing three-year period, indicating a medium risk profile [7]. Group 5: Alternatives - The Vanguard Large-Cap ETF holds a Zacks ETF Rank of 2 (Buy), indicating strong expected performance based on various factors [8]. - Other comparable ETFs include the SPDR S&P 500 ETF (SPY) with $642.71 billion in assets and the Vanguard S&P 500 ETF (VOO) with $693.52 billion [9].

Core Viewpoint - The First Trust Capital Strength ETF (FTCS) is a significant player in the Large Cap Blend segment of the US equity market, with over $8.36 billion in assets, making it one of the largest ETFs in this category [1] Group 1: ETF Overview - FTCS is a passively managed ETF launched on July 6, 2006, sponsored by First Trust Advisors [1] - The ETF targets companies with a market capitalization above $10 billion, typically offering more stability and reliable cash flows compared to mid and small cap companies [2] Group 2: Costs and Performance - The annual operating expense ratio for FTCS is 0.52%, which is competitive within its peer group, and it has a 12-month trailing dividend yield of 1.22% [3] - FTCS has achieved a return of approximately 4.12% year-to-date and 6.13% over the past year, with a trading range between $81.60 and $94.03 in the last 52 weeks [7] Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Industrials sector, comprising about 23.90% of its portfolio, followed by Financials and Consumer Staples [4] - Microsoft Corporation (MSFT) is the largest holding at approximately 2.45% of total assets, with the top 10 holdings accounting for about 22.34% of total assets under management [5] Group 4: Risk and Alternatives - FTCS aims to match the performance of The Capital Strength Index, which focuses on well-capitalized companies with strong market positions [6] - The ETF has a beta of 0.80 and a standard deviation of 12.98% over the trailing three-year period, indicating a medium risk profile [7] - FTCS holds a Zacks ETF Rank of 3 (Hold), suggesting it is a viable option for investors seeking exposure to the Large Cap Blend market segment [8]

Market Performance - The Saudi stock market index closed down by 0.29% at 11,006.98 points on July 17, marking a cumulative decline of 2.39% for the week, ending a three-week upward trend [1] - Saudi Aramco (ARAMCO.AB) fell by 1.11% to 24.10 Saudi Riyals, with a weekly decline of 3.75% [1] ETF Performance - The Albilad Southern East MSCI Hong Kong China Stocks ETF listed in Saudi Arabia rose by 1.39% to 11.71 Saudi Riyals, breaking the previous closing high of 11.47 Riyals on June 12, and achieving a cumulative weekly increase of 3.90% [1]

Core Viewpoint - The First Trust Mid Cap Value AlphaDEX ETF (FNK) offers investors exposure to the mid-cap value segment of the market, utilizing a smart beta strategy to potentially outperform traditional market cap weighted indexes [1][5]. Fund Overview - FNK was launched on April 19, 2011, and is managed by First Trust Advisors, accumulating over $202.57 million in assets, categorizing it as one of the smaller ETFs in its segment [1][5]. - The ETF aims to match the performance of the Nasdaq AlphaDEX Mid Cap Value Index, which employs a stock selection methodology based on fundamental characteristics [5]. Cost Structure - FNK has an annual operating expense ratio of 0.70%, making it one of the more expensive options in the mid-cap value ETF space [6]. - The fund offers a 12-month trailing dividend yield of 1.74% [6]. Sector Exposure and Holdings - The ETF has a significant allocation in the Consumer Discretionary sector, comprising approximately 21.9% of the portfolio, followed by Financials and Industrials [7]. - Riot Platforms, Inc. (RIOT) is the largest individual holding at about 1.07% of total assets, with the top 10 holdings accounting for approximately 8.98% of total assets under management [8]. Performance Metrics - As of July 17, 2025, FNK has experienced a loss of about -1.07% year-to-date and -2.35% over the past year [10]. - The fund has traded between $43.24 and $58.28 in the last 52 weeks, with a beta of 1.06 and a standard deviation of 22.04% over the trailing three-year period, indicating medium risk [10]. Alternatives - Other ETFs in the mid-cap value space include iShares Russell Mid-Cap Value ETF (IWS) and Vanguard Mid-Cap Value ETF (VOE), which have significantly larger asset bases of $13.43 billion and $17.97 billion, respectively, and lower expense ratios of 0.23% and 0.07% [12].

Core Viewpoint - The Fidelity Value Factor ETF (FVAL) is a smart beta ETF designed to provide broad exposure to the large-cap value segment of the market, with a focus on stocks that exhibit attractive valuations [1][5]. Fund Overview - FVAL was launched on September 12, 2016, and is managed by Fidelity [1]. - The ETF has accumulated assets of over $977.06 million, positioning it as an average-sized ETF within its category [5]. - FVAL aims to match the performance of the Fidelity U.S. Value Factor Index, which includes large and mid-cap U.S. companies with appealing valuations [5]. Cost Structure - The annual operating expenses for FVAL are 0.16%, making it one of the more affordable options in the smart beta ETF space [6]. - The ETF has a 12-month trailing dividend yield of 1.55% [6]. Sector Exposure and Holdings - FVAL's largest sector allocation is in Information Technology, comprising approximately 32.1% of the portfolio, followed by Financials and Consumer Discretionary [7]. - Microsoft Corp (MSFT) is the largest holding at about 7.22% of total assets, with Nvidia Corp (NVDA) and Apple Inc (AAPL) also among the top holdings [8]. - The top 10 holdings represent around 38.51% of the total assets under management [8]. Performance Metrics - As of July 17, 2025, FVAL has a return of approximately 5.29% and has increased by about 8.92% year-to-date [9]. - The ETF has traded within a range of $52.80 to $65.00 over the past 52 weeks [9]. - FVAL has a beta of 0.96 and a standard deviation of 16.58% over the trailing three-year period, indicating effective diversification of company-specific risk with around 130 holdings [10]. Alternatives - While FVAL is a viable option for investors looking to outperform the large-cap value segment, alternatives such as Schwab U.S. Dividend Equity ETF (SCHD) and Vanguard Value ETF (VTV) are also available [11]. - SCHD has $70.27 billion in assets and an expense ratio of 0.06%, while VTV has $138.73 billion in assets with an expense ratio of 0.04% [12].

Core Viewpoint - The iShares Russell 2000 ETF (IWM) is a significant player in the Small Cap Blend segment of the US equity market, with over $66.50 billion in assets, making it one of the largest ETFs in this category [1] Group 1: Investment Potential - Small cap companies, defined as those with market capitalizations below $2 billion, present high potential but also come with increased risk [2] - Blend ETFs typically include a mix of growth and value stocks, providing a diversified investment approach [2] Group 2: Costs - The iShares Russell 2000 ETF has an annual operating expense ratio of 0.19%, which is competitive within its peer group [3] - The ETF offers a 12-month trailing dividend yield of 1.12% [3] Group 3: Sector Exposure and Holdings - The ETF's largest sector allocation is to Financials, comprising approximately 19% of the portfolio, followed by Industrials and Healthcare [4] - Insmed Inc (INSM) represents about 0.66% of total assets, with the top 10 holdings accounting for around 4.5% of total assets under management [5] Group 4: Performance and Risk - The ETF aims to replicate the performance of the Russell 2000 Index, with a year-to-date return of approximately 0.50% and a decline of about -0.49% over the past year as of July 17, 2025 [6] - The ETF has a beta of 1.10 and a standard deviation of 22.23% over the trailing three-year period, indicating a medium risk profile [7] Group 5: Alternatives - The iShares Russell 2000 ETF holds a Zacks ETF Rank of 2 (Buy), suggesting it is a strong option for investors interested in the Small Cap Blend segment [8] - Other comparable ETFs include the Vanguard Small-Cap ETF (VB) with $64.33 billion in assets and an expense ratio of 0.05%, and the iShares Core S&P Small-Cap ETF (IJR) with $81.21 billion in assets and an expense ratio of 0.06% [9] Group 6: Bottom Line - Passively managed ETFs 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 [10]

Core Insights - The ALPS O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM) aims to provide broad exposure to the Small Cap Blend segment of the US equity market, with assets exceeding $911.95 million [1] - Small cap companies, defined as those with market capitalizations below $2 billion, present both potential and risk, typically combining growth and value stocks [2] - The ETF has an expense ratio of 0.48% and a 12-month trailing dividend yield of 1.06%, which is competitive within its peer group [3] Sector Exposure and Holdings - The ETF has a significant allocation to the Financials sector, comprising approximately 38.40% of the portfolio, followed by Industrials and Consumer Discretionary [4] - Encompass Health Corp. (EHC) is the largest individual holding at about 2.58% of total assets, with the top 10 holdings representing around 22.73% of total assets under management [5] Performance Metrics - OUSM seeks to match the performance of the FTSE Russell US Qual / Vol / Yield Factor 3% Capped Index, focusing on high-quality, low-volatility, dividend-paying small-cap companies [6] - As of July 17, 2025, the ETF has gained roughly 0.05% year-to-date and approximately 0.30% over the past year, with a trading range between $37.73 and $47.20 in the last 52 weeks [7] Alternatives and Market Position - The ETF holds a Zacks ETF Rank of 3 (Hold), indicating a moderate outlook based on expected returns, expense ratios, and momentum [8] - Other comparable ETFs include the iShares Russell 2000 ETF (IWM) with $66.50 billion in assets and an expense ratio of 0.19%, and the iShares Core S&P Small-Cap ETF (IJR) with $81.21 billion in assets and a lower expense ratio of 0.06% [9] Investment Trends - There is a growing trend among retail and institutional investors towards passively managed ETFs due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investment strategies [10]

Macro Insights - The US June CPI shows partial transmission of tariffs, with core CPI rising 0.23% month-on-month, slightly below the expected 0.3% [2] - Core CPI year-on-year increased by 0.1 percentage points to 2.9%, aligning with expectations [2] - The overall CPI month-on-month rose from 0.08% in May to 0.29%, with a year-on-year increase of 0.3 percentage points to 2.7%, slightly above the expected 2.6% [2] Fixed Income - The bond market remains in a warm supply-demand environment despite short-term disturbances, with credit demand still increasing [3] - The central bank continues to support technology innovation bonds, with expectations of a slight compression in the yield spread of related ETFs [3] - Short-term disturbances have led to a focus on medium to short-duration investments, particularly in high-quality city investment bonds and industries with high growth potential [3] Electronics Industry - ASML's Q2 2025 performance met prior guidance, with new orders significantly increasing, although logic customer orders saw a notable decline [5] - ASML projects Q3 2025 revenue between €7.4 billion and €7.9 billion, with a year-on-year growth of 2.5% and a quarter-on-quarter decline of 0.5% [5] - The semiconductor industry continues to see strong demand driven by AI, with expectations for domestic advanced process and storage expansion [5] Basic Chemicals - Glyphosate prices have increased by 9% year-on-year to ¥25,901 per ton, driven by seasonal demand in South America and production cuts [6] - The domestic and international planting areas are expected to rise, leading to a potential bottom reversal for glyphosate prices, benefiting leading domestic companies [6] Energy and Power Equipment - Gansu province has introduced a capacity pricing policy for power generation, which is expected to enhance the profitability of energy storage [7] - The policy sets a capacity price of ¥330 per kilowatt per year for coal power units and new energy storage, with a two-year execution period [7] - The domestic energy storage market is anticipated to see increased demand in the short, medium, and long term due to clearer profitability models [7] Construction and Engineering - The recent central urban work conference indicates a shift from rapid urbanization to stable development, focusing on quality improvement of existing urban infrastructure [8] - The construction materials industry is expected to face demand changes and supply transformation challenges as urban renewal becomes a priority [8] - Key areas of focus include pipeline renovation, architectural coatings, and infrastructure projects with quick asset recovery [8] Transportation - Airlines have maintained a high passenger load factor of 84.6%, with a year-on-year increase of 1.7 percentage points [9] - Despite limited capacity growth during the summer travel season, ticket prices have shown weakness, indicating potential challenges in revenue management [9] - The airline sector is recommended for investment, particularly in China National Aviation and Huaxia Airlines, due to expected profitability improvements [9] ETF Market - The domestic ETF market expanded by nearly ¥580 billion in the first half of 2025, reaching a total scale of ¥4.3 trillion [11] - Bond ETFs and Hong Kong stock ETFs have become major attractors of capital, with significant growth in several thematic ETFs [11] - The performance of trading-type ETFs is closely linked to market conditions, while configuration-type ETFs can achieve steady growth through continuous marketing [11]

Group 1 - Invesco QQQ Trust (QQQ) has reached a 52-week high and has increased by 38% from its 52-week low price of $402.39 per share [1] - QQQ provides exposure to the largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index, with significant holdings in information technology and consumer discretionary sectors [1] - The fund charges 20 basis points in annual fees [1] Group 2 - The growth sector has shown resilience, with the Nasdaq Composite Index reaching a new record close, driven by the AI boom and confidence in corporate earnings [2] - Growth funds typically outperform during market uptrends, indicating a favorable environment for QQQ [2] Group 3 - QQQ has a Zacks ETF Rank of 1 (Strong Buy) with a medium risk outlook, suggesting potential for continued outperformance in the coming months [3] - Many sectors within this ETF have a strong Zacks Industry Rank, indicating promise for investors looking to capitalize on its growth [3]