There’s a bit of a moral divide developing in the ETF industry after RAAA became the first to combine leverage and collateralized loan obligations within a portfolio https://t.co/OM0UY569cG ...

Core Insights - The iShares MSCI USA Quality Factor ETF (QUAL) is a smart beta ETF launched on July 16, 2013, designed to provide broad exposure to the Style Box - All Cap Blend category of the market [1] Fund Overview - QUAL is managed by Blackrock and has amassed over $53.52 billion in assets, making it one of the largest ETFs in its category [5] - The fund aims to match the performance of the MSCI USA Sector Neutral Quality Index, which is based on the MSCI USA Index that includes U.S. large and mid-cap stocks [5] Cost Structure - QUAL has an annual operating expense ratio of 0.15%, positioning it as one of the cheaper options in the ETF space [6] - The fund offers a 12-month trailing dividend yield of 1.01% [6] Sector Exposure and Holdings - The Information Technology sector represents 33% of QUAL's portfolio, followed by Financials and Consumer Discretionary [7] - Nvidia Corp (NVDA) constitutes approximately 6.4% of the fund's total assets, with Microsoft Corp (MSFT) and Apple Inc (AAPL) also among the top holdings [8] - The top 10 holdings account for about 41.43% of QUAL's total assets under management [8] Performance Metrics - As of July 11, 2025, QUAL has gained approximately 4.28% year-to-date and is up roughly 6.95% over the past year [9] - The ETF has traded between $152.42 and $186.85 in the past 52 weeks and has a beta of 1.04 with a standard deviation of 17.21% over the trailing three-year period, indicating medium risk [9] Alternatives - Other ETFs in the same space include iShares Core S&P Total U.S. Stock Market ETF (ITOT) with $72.02 billion in assets and Vanguard Total Stock Market ETF (VTI) with $506.04 billion [11] - ITOT and VTI both have an expense ratio of 0.03%, offering lower-cost alternatives for investors [11]

Core Insights - The Franklin U.S. Equity Index ETF (USPX) is a smart beta ETF that debuted on June 1, 2016, providing broad exposure to the Style Box - All Cap Blend category of the market [1] - Smart beta ETFs track non-cap weighted strategies, appealing to investors who prefer selecting stocks based on fundamental characteristics to outperform the market [3] - The fund is sponsored by Franklin Templeton Investments and has assets exceeding $1.28 billion, targeting large and mid-cap U.S. stocks representing the top 85% of the U.S. equity market by float-adjusted market capitalization [5] Fund Details - The ETF has an annual operating expense ratio of 0.03%, making it one of the least expensive options in its category, with a 12-month trailing dividend yield of 1.16% [6] - The fund's largest sector allocation is in Information Technology, comprising approximately 33.3% of the portfolio, followed by Financials and Consumer Discretionary [7] - Microsoft Corp (MSFT) is the largest holding at about 6.74% of total assets, with the top 10 holdings accounting for approximately 34.89% of USPX's total assets [8] Performance Metrics - As of July 11, 2025, the ETF has gained about 7.63% year-to-date and 13.15% over the past year, with a trading range between $43.36 and $55.00 in the past 52 weeks [10] - The ETF has a beta of 0.90 and a standard deviation of 17.62% over the trailing three-year period, indicating effective diversification of company-specific risk with around 563 holdings [10] Alternatives - The Franklin U.S. Equity Index ETF is a viable option for investors looking to outperform the Style Box - All Cap Blend segment, but there are alternative ETFs such as iShares Core S&P Total U.S. Stock Market ETF (ITOT) and Vanguard Total Stock Market ETF (VTI) [11][12] - Both ITOT and VTI have significantly larger asset bases, with $72.02 billion and $506.04 billion respectively, and maintain an expense ratio of 0.03% [12]

Core Insights - The American Century U.S. Quality Value ETF (VALQ) debuted on January 11, 2018, and provides broad exposure to the Style Box - All Cap Value category of the market [1] - VALQ is managed by American Century Investments and aims to match the performance of the American Century U.S. Quality Value Index, focusing on undervalued large and mid-cap companies with sustainable income [5] Fund Characteristics - VALQ has accumulated over $251.3 million in assets, making it one of the larger ETFs in its category [5] - The fund has an annual operating expense ratio of 0.29%, which is competitive within its peer group, and a 12-month trailing dividend yield of 1.73% [6] - The fund's portfolio is heavily allocated to the Information Technology sector, which represents 26% of its holdings, followed by Healthcare and Consumer Staples [7] Holdings and Performance - Cisco Systems Inc (CSCO) is the largest individual holding at approximately 2.81% of total assets, with the top 10 holdings accounting for about 25.2% of VALQ's total assets [8] - Year-to-date, VALQ has increased by 4.56% and has risen by 12.57% over the last 12 months as of July 11, 2025, with a trading range between $54.09 and $64.64 in the past 52 weeks [10] - The fund has a beta of 0.87 and a standard deviation of 14.59% over the trailing three-year period, indicating effective diversification of company-specific risk with approximately 231 holdings [10] Alternatives - While VALQ is a viable option for investors looking to outperform the Style Box - All Cap Value segment, there are alternative ETFs such as Fidelity High Dividend ETF (FDVV) and iShares Core S&P U.S. Value ETF (IUSV) that may offer lower expense ratios and different risk profiles [11][12]

Core Viewpoint - The Pacer US Small Cap Cash Cows ETF (CALF) is a smart beta ETF that targets small-cap value stocks with high free cash flow yields, aiming to outperform traditional market cap weighted indexes [1][5]. Fund Overview - CALF was launched on June 16, 2017, and has accumulated over $4.32 billion in assets, positioning it as one of the larger ETFs in the small-cap value category [1][5]. - The ETF seeks to match the performance of the Pacer US Small Cap Cash Cows Index, which employs a rules-based methodology [5]. Cost Structure - The annual operating expenses for CALF are 0.59%, which is relatively high compared to other products in the space [6]. - The fund has a 12-month trailing dividend yield of 1.04% [6]. Sector Exposure and Holdings - The ETF has a significant allocation in the Industrials sector, comprising approximately 21.9% of the portfolio, followed by Consumer Discretionary and Information Technology [7]. - The top holding, Cf Industries Holdings Inc, accounts for about 2.31% of total assets, with the top 10 holdings representing around 20.38% of CALF's total assets [8]. Performance Metrics - As of July 11, 2025, CALF has experienced a year-to-date loss of approximately -4.85% and a decline of about -0.79% over the past year [10]. - The ETF has traded between $32.00 and $48.76 in the past 52 weeks, with a beta of 1.09 and a standard deviation of 23.22% over the trailing three-year period [10]. Alternatives - Other ETFs in the small-cap value space include iShares Russell 2000 Value ETF (IWN) and Vanguard Small-Cap Value ETF (VBR), which have lower expense ratios and larger asset bases [12].

Core Viewpoint - The VanEck Morningstar Wide Moat ETF (MOAT) is a significant player in the Large Cap Blend segment of the US equity market, with over $13.05 billion in assets, making it one of the largest ETFs in this category [1] Group 1: Fund Overview - MOAT is a passively managed ETF launched on April 24, 2012, sponsored by Van Eck [1] - The fund targets companies with market capitalizations above $10 billion, which are typically stable with predictable cash flows [2] Group 2: Costs and Performance - The ETF has an expense ratio of 0.47%, which is competitive within its peer group, and a 12-month trailing dividend yield of 1.30% [3] - MOAT aims to match the performance of the Morningstar Wide Moat Focus Index, which tracks 20 attractively priced companies with sustainable competitive advantages [6] - Year-to-date, the ETF has increased by approximately 5.12% and has risen about 14.21% over the past year, with a trading range of $76.53 to $98.73 in the last 52 weeks [6] Group 3: Sector Exposure and Holdings - The ETF has a significant allocation to the Information Technology sector, comprising about 25.90% of the portfolio, followed by Healthcare and Industrials [4] - Boeing Co accounts for approximately 3.29% of total assets, with the top 10 holdings representing about 28.68% of total assets under management [5] Group 4: Risk Profile - MOAT has a beta of 1.01 and a standard deviation of 19.03% over the trailing three-year period, categorizing it as a medium-risk investment [7] - The ETF holds around 54 stocks, effectively diversifying company-specific risk [7] Group 5: Alternatives - The ETF holds a Zacks ETF Rank of 3 (Hold), indicating it is a viable option for investors seeking exposure to the Large Cap Blend area [8] - Other comparable ETFs include the SPDR S&P 500 ETF (SPY) with $643.46 billion in assets and an expense ratio of 0.09%, and the Vanguard S&P 500 ETF (VOO) with $691.94 billion in assets and an expense ratio of 0.03% [9] Group 6: Market 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]

Group 1 - The ChiNext Index (399006) has shown a positive performance with a rise of 1.16%, highlighting the strength of key stocks such as Dongfang Caifu, which increased by 4.6%, and Mindray Medical, which rose by 1.8% [1] - The ChiNext ETF (159915) has gained significant attention, with its latest scale exceeding 84 billion, making it the largest among similar ETFs, and it has seen a net subscription of 1.11 million shares [1] - The report from Everbright Securities indicates that the second half of the year may see sustained corporate profit recovery, driven by improved domestic demand, favorable policies, and the rise of emerging industries such as artificial intelligence and robotics [2][3] Group 2 - The ChiNext Index is characterized by a high proportion of high-tech enterprises, strong R&D investment, and significant growth potential, reflecting China's economic transformation and upgrade [3] - The ChiNext ETF (159915) maintains a low fee structure, with management and custody fees at 20 basis points per year, aligning with the brand's low-cost philosophy [4] - Related products include the ChiNext ETF and its various linked funds, indicating a range of investment options for investors [5]

Group 1 - The first two data center REITs have completed inquiries and will start subscriptions from July 14 to 15, indicating a growing market for REITs with quality assets [1] - The REITs market is expected to be further activated by the dual drive of "initial issuance + expansion" as relevant systems are optimized and the market matures [1] - High-net-worth individual investors have increasingly participated in ETF initial subscriptions, marking a shift from stock selection to index-based investment tools [1] Group 2 - As of July 9, 197 funds have ended fundraising early this year, with equity funds making up a significant portion, indicating a strong recovery in equity fund issuance [2] - The total issuance of newly established funds reached 5303.47 billion units in the first half of the year, with stock funds accounting for 35.46%, showing a substantial increase compared to the previous year [2] Group 3 - China's monetary policy has implemented moderate easing measures to support macroeconomic stability, achieving multiple goals such as growth stabilization and risk prevention [3] - The introduction of lithium supplement agents in the battery industry is gaining traction, with prices significantly higher than traditional materials, enhancing competitiveness for material companies [3] Group 4 - Global bank sector indices have seen significant increases, with the global index rising by 52% and the Chinese index by 59%, reflecting a revaluation of banks as stable assets [4] - The ongoing interest rate hikes in major economies have contributed to the attractiveness of banks, combining high shareholder returns with growth potential [4] Group 5 - The Hong Kong stock market has seen a surge in equity financing, nearing 3000 billion HKD, with IPOs showing remarkable growth, particularly in the technology and consumer sectors [5][6] - The market is characterized by a dual drive from technology and consumption, with significant activity in emerging consumer sectors and advanced technology fields [6] Group 6 - In 2024, 3667 A-share listed companies reported overseas business income, totaling 9.52 trillion yuan, a 56.58% increase from 2020, with manufacturing companies leading the growth [7] - Key sectors driving this growth include new energy vehicles, lithium batteries, and photovoltaics, highlighting the importance of industry chain and ecosystem expansion [7] Group 7 - As of July 9, the express delivery business in China has surpassed 1 trillion pieces, reflecting strong economic resilience and the growing scale of the consumer market [8] - The increase in express delivery volume is attributed to the rising e-commerce penetration and the expanding consumer market [8] Group 8 - Regulatory bodies have intensified oversight of delisted companies, with 19 companies receiving penalties this year, indicating a stricter regulatory environment [9]

Market Overview - The Market Clubhouse provides daily updates on key price levels for major stocks including SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA, based on a proprietary formula that considers price, volume, and options flow [1][2]. SPDR S&P 500 ETF Trust (SPY) - SPY is trading near 623.32, with bullish targets at 624.57 and 626.11, potentially reaching 627.81 if momentum continues [2]. - If SPY falls below 623.32, sellers will target 622.26, with further downside risks to 620.97 and 619.23, potentially reaching 617.68 [3]. Invesco QQQ Trust Series 1 (QQQ) - QQQ is near 555.21, with bullish targets at 557.14 and 559.62, aiming for 566.30 if buying momentum is strong [4]. - A failure to hold above 555.21 could lead to a decline towards 553.46, with further support at 552.32 and a bearish target of 549.59 [5]. Apple Inc. (AAPL) - AAPL is trading around 209.81, with initial bullish targets at 211.12 and 212.44, potentially reaching 214.07 [6]. - If the support at 209.81 is lost, sellers will target 208.81, with further downside to 207.93 and a bearish target of 206.55 [7]. Microsoft Corp. (MSFT) - MSFT is near 502.51, with bullish targets at 504.11 and 505.98, aiming for 508.42 if buying persists [8]. - A drop below 502.51 could see sellers targeting 501.34, with further downside risks to 499.79 and a target of 496.90 [9]. NVIDIA Corporation (NVDA) - NVDA is trading around 164.35, with bullish targets at 165.39 and 166.76, potentially reaching 169.76 [11]. - If NVDA cannot hold above 164.35, sellers will target 162.15, with further support at 160.64 and a bearish target of 158.34 [12]. Alphabet Inc Class A (GOOGL) - GOOGL is near 176.23, with bullish targets at 177.28 and 179.15 if buying momentum is strong [13]. - A failure to maintain 176.23 could lead to a decline towards 175.12, with further downside risks to 174.01 and a target of 172.28 [14]. Meta Platforms Inc (META) - META is trading near 733.41, with bullish targets at 736.12 and 738.07, potentially reaching 743.36 [15]. - If support at 733.41 is lost, sellers will target 729.50, with further downside to 727.04 and a bearish target of 725.04 [16]. Tesla Inc. (TSLA) - TSLA is around 298.28, with bullish targets at 300.56 and 304.24, potentially reaching 312.42 [17]. - A breach of 298.28 could lead to sellers targeting 296.44, with further downside risks to 294.60 and a target of 293.21 [18]. Economic Insights - The economic schedule includes Initial and Continuing Jobless Claims data at 8:30 AM ET, and a 30-Year Bond Auction at 1 PM ET, which may influence market sentiment [19].

Core Insights - The First Trust Growth Strength ETF (FTGS) was launched on October 25, 2022, and offers broad exposure to the Style Box - Large Cap Growth category of the market [1] Fund Overview - FTGS is managed by First Trust Advisors and has accumulated over $1.16 billion in assets, positioning it as an average-sized ETF in its category [5] - The ETF aims to match the performance of the Growth Strength Index, which focuses on domestic equities filtered for liquidity, return on equity, long-term debt, revenue, and cash flow growth [5] Cost Structure - FTGS has annual operating expenses of 0.60%, making it one of the more expensive options in the smart beta ETF space [6] - The ETF has a 12-month trailing dividend yield of 0.33% [6] Sector Exposure and Holdings - The Information Technology sector represents the largest allocation at 30.7%, followed by Financials and Industrials [7] - Vertiv Holdings Co (VRT) constitutes about 2.62% of total assets, with the top 10 holdings accounting for approximately 24.08% of FTGS's total assets [8] Performance Metrics - As of July 10, 2025, FTGS has gained roughly 10.5% year-to-date and 12.94% over the past year [10] - The ETF has traded between $26.62 and $34.67 in the last 52 weeks, with a beta of 1.13 and a standard deviation of 17.98% over the trailing three-year period [10] Alternatives - Other ETFs in the large-cap growth space include Vanguard Growth ETF (VUG) with $176.96 billion in assets and an expense ratio of 0.04%, and Invesco QQQ (QQQ) with $356.12 billion in assets and an expense ratio of 0.20% [11]