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Comparing Mutual Funds to Different Benchmarks

6,139
by IndexFunds.com Staff
Friday, January 19, 2001

What a difference two years can make. In 1999, only 33% of mutual funds were able to beat Standard & Poor's (S&P) 500. In the year 2000, over 72% of all mutual funds managed that task. Nearly half of all funds managed to outgain the S&P 600 Small Cap ...Read More

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  • Vanguard Approval in Japan

    6,199
    by IndexFunds.com Staff — Wednesday, January 17, 2001

    Vanguard Investments Japan, the Japanese arm of The Vanguard Group, announced that it has been approved for membership in the Japan Securities Dealers Association. ...Read More

  • John Spence

    MSCI Discusses GICS Shift, Expanding ETF Market

    5,478
    by John Spence — Wednesday, January 17, 2001

    Morgan Stanley Capital International (MSCI) and Standard and Poor's (S&P) recently launched a new index classification system called the Global Industry Classification Standard (GICS). The new system is designed to make investment research and management ...Read More

  • The Price/Earnings (p/e) Debate

    6,211
    by IndexFunds.com Staff — Monday, January 15, 2001

    A war has been raging lately on our discussion boards. The debate centers around p/e ratios, and how they are calculated by Morningstar. The issue is important because many investors and financial professionals use the numbers when making decisions. ...Read More

  • John Spence

    S&P Completes Reclassification of U.S. Indexes

    5,460
    by John Spence — Tuesday, January 9, 2001

    Standard and Poor's (S&P) announced that it has finalized the new classification of its U.S. indexes, shifting to the Global Industry Classification Standard (GICS). The new system was developed by S&P and Morgan Stanley Capital International (MSCI) with ...Read More

  • E*TRADE Launches Two New Index Funds

    5,761
    by IndexFunds.com Staff — Monday, January 8, 2001

    E*TRADE today announced the launch of two new no-load index funds: the E*TRADE Financial Sector Index Fund and the E*TRADE Russell 2000 Index Fund. ...Read More

  • Is There Still Value in the Book-to-Market Ratio?

    5,791
    by James Davis — Monday, January 1, 2001

    Both of these variables produce more return dispersion than E/P and CF/P, even during the period when BtM is supposed to be less relevant (Figure 5). Unfortunately for investors in value stocks, the return difference went the wrong way during the most ...Read More

  • John Spence

    Enhanced Indexing

    11,159
    by John Spence — Thursday, December 21, 2000

    There wasn't a lot of emphasis placed on enhanced indexing during the bull market of the 1990s when investors were fed a steady diet of consecutive and unprecedented high yearly returns. However, with the recent stock sell-off, squeezing out those extra ...Read More

  • John Spence

    Do Indexes Influence Markets?

    6,150
    by John Spence — Wednesday, December 20, 2000

    There is mounting evidence that indexes, which theoretically should serve as benchmarks for economic sectors, may actually exert influence on the markets they are designed to track. A growing number of studies are examining whether indexes create or ...Read More

  • Trend Toward Global ETFs Continues

    6,150
    by IndexFunds.com Staff — Tuesday, December 12, 2000

    Barclays Global Investors (BGI) announced its plans to launch a UK-based exchange-traded fund (ETF) that tracks the new FTSE ExUK 100 Index. The FTSE ExUK 100 Index will be calculated from December 14, and a full list of the constituent companies will be ...Read More

  • Vanguard Releases Latest Cap Gains Estimates

    6,064
    by IndexFunds.com Staff — Monday, December 11, 2000

    The Vanguard Group released updated estimates of year-end capital gains distributions for its equity and balanced funds. The estimates are updated through the end of November 2000. ...Read More

  • John Spence

    MSCI to Adjust Indexes for Free-Float

    7,075
    by John Spence — Monday, December 11, 2000

    Morgan Stanley Capital International (MSCI) formally announced yesterday that it will adjust all of its equity indexes for free-float, a decision that will most likely trigger billions of dollars in stock turnover globally. ...Read More

  • iShares S&P Global 100 First ETF to List on NYSE

    6,160
    by IndexFunds.com Staff — Friday, December 8, 2000

    Trading commenced today on the iShares S&P Global 100 exchange-traded fund (ETF). The Global 100 (ticker symbol: IOO) is the first ETF to be listed on the New York Stock Exchange (NYSE). ...Read More

  • Know Your Prospectus

    6,036
    by Alfred Scillitani — Wednesday, November 29, 2000

    I have to read a fund's "What?" before investing? A mutual fund company must inform you to read their Prospectus before investing, but what is a prospectus? ...Read More

  • From our Canadian Bureau: BGI Canada Launches First Bond ETFs

    5,713
    by IndexFunds.com Staff — Wednesday, November 22, 2000

    Two new bond exchange-traded funds (ETFs) managed by Barclays Global Investors Canada began trading today on the Toronto Stock Exchange (TSE). The two new Canadian ETFs are the iUnits Government of Canada 5-Year Bond Fund (iG5) and the iUnits Government ...Read More

  • Jim Wiandt

    World's First Active ETFs Begin Trading in Germany

    6,776
    by Jim Wiandt — Tuesday, November 21, 2000

    In a development that would be unthinkable in the United States, the world's first actively-managed ETFs began trading in Germany just three months after DWS Investment filed for approval. Peering through a window that might shed some light on how such ...Read More

  • John Spence

    SSB Citi Launches New Family of Index Funds

    5,962
    by John Spence — Monday, November 13, 2000

    SSB Citi Asset Management Group, the money management division of Citigroup, announced the launch of 11 new index funds. The new offerings are the first no-load index funds ever to be introduced by SSB Citi, which has two other U.S. mutual fund brands - ...Read More

  • Retiring Early Using Indexing Strategies

    6,509
    by Larry Putnam — Thursday, November 9, 2000

    On a recent rainy day perfect for book browsing, I found myself cruising the investing and personal finance section of my favorite super-sized 50,000-title Barnes and Noble. Years ago, I developed a rule to help my search for good investment books: ignore ...Read More

  • From our Canadian Bureau: A Raise for Your Money Manager?

    6,216
    by Dan Hallett — Thursday, November 9, 2000

    I bet investors take most pieces of mail regarding mutual fund unitholder votes and file them under "G" for garbage. Frankly, oftentimes the issue being voted upon has no material impact on unitholders. However, November 14, 2000 marks an important day ...Read More

  • USAA Investments Launches 3 New Index Funds

    7,371
    by IndexFunds.com Staff — Wednesday, November 8, 2000

    "The popularity of the USAA S&P 500 Index Fund demonstrates that there's a place in a balanced portfolio for indexing," said Michael J.C. Roth, President and CEO of USAA Investment Management Company. "The addition of these three index funds will ...Read More

  • Borsa Italiana Paves the Way for ETFs

    5,859
    by IndexFunds.com Staff — Wednesday, November 8, 2000

    Borsa Italiana, the Milan-based stock exchange, announced that it is in at least the planning stages of a move to alter its own regulations to permit the launch of Italy's first exchange-traded funds (ETFs). ...Read More

  • John Spence

    FRC Study Examines Future of ETFs

    5,811
    by John Spence — Monday, November 6, 2000

    With large financial institutions launching an explosion of exchange-traded funds (ETFs) around the globe, some have questioned whether these investment products represent a threat to traditional mutual funds. Can ETFs exact a fundamental change upon the ...Read More

  • Jim Wiandt

    S&P Launches Frontal Attack on Vanguard Vipers

    6,318
    by Jim Wiandt — Friday, November 3, 2000

    Taking its lawsuit against Vanguard to another level, Standard & Poor's requested that the Securities and Exchange Commission (SEC) hold a public hearing on Vanguard's application to launch its exchange-traded funds (ETFs). ...Read More

  • John Spence

    Benefits of ETFs Debated at Asset Allocation Seminar

    5,533
    by John Spence — Wednesday, November 1, 2000

    At the recent seminar in San Francisco entitled "Asset Allocation: Theories vs. Realities," representatives from the industry outlined the benefits of using exchanged-traded funds (ETFs) in portfolio management strategies. Many of the institutional ...Read More

  • First ETF Launched on Chicago Board Options Exchange

    5,695
    by IndexFunds.com Staff — Tuesday, October 31, 2000

    The newly-created iShares S&P 100 Index Fund began trading on the Chicago Board Options Exchange (CBOE) on 10/27/2000. The exchange-traded fund (ETF) will be managed by Barclays Global Investors (BGI) and will trade under the CBOE symbol OEF. The iShares ...Read More

  • New ETF to be Launched in Japan

    5,305
    by IndexFunds.com Staff — Thursday, October 26, 2000

    The Osaka Securities Exchange (OSE) today inked a license agreement and memorandum of understanding with Dow Jones. The agreement covers the listing of an exchange-traded fund (ETF) based on the Dow Jones Industrial Average. Additionally, the arrangement ...Read More

  • John Spence

    Salomon Releases ETF Premium/Discount Study

    5,677
    by John Spence — Monday, October 23, 2000

    Last Wednesday, 10/18/2000, the Salomon Smith Barney Closed-End Funds Research Group released a supplement to its larger quarterly report, "Fundamentals for Exchange-Traded Funds." As part of the supplement, Salomon analysts conducted a premium/discount ...Read More

  • John Spence

    Vanguard Releases Expense Ratios for Admiral Shares

    5,864
    by John Spence — Friday, October 20, 2000

    On Tuesday, 10/17/2000, the Vanguard Group announced the expense ratios for its new class of Admiral Shares to be released in November. Initially, Vanguard will offer Admiral Shares on seven of its domestic index funds, and has plans to offer Admiral ...Read More

  • Frequently Asked Questions about ETFs

    6,272
    by IndexFunds.com Staff — Thursday, October 19, 2000

    What is an ETF? What are the benefits of using ETFs? Are there any negatives? How can I buy and sell ETFs? How are ETFs created and redeemed? What ETFs are available on the market? How can I use ETFs in managing my portfolio? How much money is in ETFs and ...Read More

  • State Street to Launch European ETFs Based on MSCI Indexes

    5,498
    by IndexFunds.com Staff — Thursday, October 19, 2000

    Today, State Street Global Advisors (SSgA) announced that it has entered into a license agreement with MSCI to launch exchange-traded funds (ETFs) in Europe based on MSCI indexes. The announcement is the latest move by an asset manager to release ETFs in ...Read More

  • Jim Wiandt

    J. Parsons Interview

    6,439
    by Jim Wiandt — Thursday, October 19, 2000

    J. Parsons, Director of Sales for U.S. Individual Investor Business at Barclays Global Investors, talks to Jim Wiandt about how exchange-traded funds are ...Read More

  • Nuveen to Enter ETF Market

    5,984
    by IndexFunds.com Staff — Wednesday, October 18, 2000

    On Monday, 10/16/2000, Nuveen Investments announced its plans to launch the first in a series of new exchange-traded funds (ETFs). ...Read More

  • State Street to Launch First ETF in Singapore

    6,136
    by IndexFunds.com Staff — Wednesday, October 18, 2000

    Today, the Singapore Exchange (SGX) announced that it intends to sign a memorandum of understanding with State Street Global Advisors (SSgA) to develop Singapore's first indigenous exchange-traded fund (ETF). According to SGX, the new ETF will list and ...Read More

  • Betting on Sector ETFs in a Highly-Valued Market

    6,118
    by Max Issacman — Monday, October 16, 2000

    As one who sold stocks to investors in the early 1970s, I realize how misleading price/earnings multiples (P/E) can be. Although these multiples have their limitations, P/Es can be useful when making valuations. Still, other valuations should be used in ...Read More

  • John Spence

    Peter Breen Interview

    6,074
    by John Spence — Sunday, October 15, 2000

    A relatively new start-up is stepping up against the established names in online investing: E*Trade, Ameritrade, Fidelity, and DLJdirect to name a few. BUYandHOLD.com is targeting the growing ranks of online investors - young couples investing for ...Read More

  • AMEX to Begin Trading Options on iShares

    5,594
    by IndexFunds.com Staff — Friday, October 13, 2000

    Today, AMEX announced that it will begin trading options on the iShares Russell 1000 Index Fund, an exchange-traded fund (ETF) managed by Barclays Global Investors (BGI). The announcement hails the first time an option will be traded on an ETF that tracks ...Read More

  • Barclays to Launch UK-based Technology ETF

    5,511
    by IndexFunds.com Staff — Thursday, October 12, 2000

    iShares, a division of Barclays Global Investors (BGI), today announced the launch of a UK-based exchange-traded fund (ETF) called the iFTSE TMT. The new iShares ETF will begin trading on the London Stock Exchange within the extraMARK on Tuesday, ...Read More

  • John Spence

    State Street Launches ETFs Based on Fortune Indexes

    6,449
    by John Spence — Wednesday, October 11, 2000

    Yesterday, State Street Global Advisors (SSgA) launched two exchange-traded funds (ETFs) based on the FORTUNE 500 and FORTUNE e-50 Indexes. The two funds began trading yesterday on the American Stock Exchange (AMEX) under the ticker symbols FFF (500) and ...Read More

  • Will McClatchy

    Study: U.S. Investors Waste $36 Billion on Wall St. Fees

    6,350
    by Will McClatchy — Tuesday, October 10, 2000

    In 2000, mutual fund investors overpaid Wall Street $36 billion to manage stocks, bonds, and real estate totaling $3.7 trillion. Nearly 1% per year of assets were wasted in unnecessary fees, according to IndexFunds' comprehensive new survey of mutual fund ...Read More

  • TD Waterhouse Releases 5 New Index Funds

    7,102
    by IndexFunds.com Staff — Thursday, October 5, 2000

    Yesterday, TD Waterhouse Group announced the addition of seven house-brand no-load mutual funds to its list of mutual funds. The new funds will be available only through TD Waterhouse and require a minimum initial investment of $1,000. Five of the seven ...Read More

  • The Information in the Term Structure: An Update

    5,139
    by James Davis — Sunday, October 1, 2000

    Panel A of Table 4 shows that the variable maturity portfolio earns higher average returns than any of the fixed maturity portfolios. This holds for the entire 1965-1999 period as well as the two subperiods. The average return difference for the 1965-1999 ...Read More

  • John Spence

    State Street to Launch First Global ETF

    6,109
    by John Spence — Thursday, September 28, 2000

    Ending Barclays short-lived hegemony in style-based exchange-traded funds (ETFs) and launching the first global ETF, State Street Global Advisors announced the opening of 7 new funds. Continuing its surge into the ETF market, State Street was scheduled to ...Read More

  • Jim Wiandt

    Gus Fleites Interview

    6,119
    by Jim Wiandt — Tuesday, September 26, 2000

    Gus Fleites is a Principal of State Street Global Advisors (SSgA). He is responsible for the development and implementation of exchange-traded funds (ETFs) and offshore investment products. At the 2nd Annual Exchange-Traded Fund & Index Share Forum, Gus ...Read More

  • Jim Wiandt

    Lee Kranefuss Interview

    6,298
    by Jim Wiandt — Monday, September 25, 2000

    Lee Kranefuss, CEO of U.S. Individual Investor Business at Barclays Global Investors, recently sat down with IndexFunds.com's Jim Wiandt to discuss the proliferation of iShares and the future of exchange-traded funds ...Read More