Ultime notizie per Vanguard Mid-Cap ETF (ARCA:VO)

Vanguard Mid-Cap ETF

Technology

Industrials

Financial Services

Healthcare

Consumer Cyclical

Real Estate

Utilities

Basic Materials

Energy

Consumer Defensive

Communication Services

Other

The Fund employs an indexing investment approach designed to track the performance of the CRSP US Mid Cap Index (the Index), a broadly diversified index of stocks of mid-size U.S. companies. The Fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the Index, holding each stock in approximately the same proportion as its weighting in the Index.

Amphenol Corp. Class A

Transdigm Group Inc.

Motorola Solutions Inc.

Constellation Energy Corp

Welltower Inc.

Cintas Corp.

Arthur J Gallagher & Co.

Paccar Inc.

Carrier Global Corp

Palantir Technologies Inc.

VOLTABOX AG INH O N by VOLTABOX AG

VOBILE GROUP LTD NEW by Vobile Group Limited

Vobile Group Ltd

VOC Energy Trust Units of Beneficial Interest

VOC Energy Trust

Creatd Inc

Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares

Vodafone Group PLC

VODACOM GROUP LTD ORD by Vodacom Group Ltd.

Vodacom Group Ltd

VODAFONE GRP PLC ORD by Vodafone Group Plc

Vanguard Mid-Cap Value ETF

VOLCAN HOLDINGS INC by Volcan Holdings, Inc.

Volcan Holdings Inc

MIND SOLUTIONS INC by Mind Solutions, Inc.

Mind Solutions Inc

Volvo AB

Vanguard Russell 1000 ETF

Vanguard Russell 1000 Growth ETF

VONTOBEL HOLDINGS AG by Vontobel Holding AG

Vontobel Holding AG

VERONI BRANDS CORP by Veroni Brands Corporation

Vonovia SE

Vanguard Russell 1000 Value ETF

Vanguard S&P 500 ETF

Vanguard S&P 500 Growth ETF

Vanguard S&P 500 Value ETF

Koninklijke Vopak NV

KONINKLIJKE VOPAK UNS/ADR by Koninklijke Vopak NV

VIOQUEST PHARMS INC by VioQuest Pharmaceuticals, Inc.

VioQuest Pharmaceuticals Inc

Vor Biopharma Inc

Virgin Orbit Holdings Inc

Virgin Orbit Holdings Inc Warrants (29/12/2026)

Vossloh AG

Vanguard Mid-Cap Growth ETF

TCW Transform 500 ETF

Vanguard Communication Services ETF

Voxies - United States Dollar

Vox Royalty Corp

VOXX International Corporation - Class A Common Stock

VOXX International Corp

Voya Financial Inc

Voya Financial, Inc. Depositary Shares, each representing a 1/40th interest in a share of 5.35% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B

Valmet Corp

Thunderbird Resources Ltd

THUNDERBIRD RES LTD by THUNDERBIRD RES LTD

VOYANT INTL CORP by Voyant International Corp.

Voyant International Corp

Roblox Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) stock plunged on Tuesday after Hindenburg Research issued a short report on the online game platform questioning its metrics <a target="_blank" href="https://hindenburgresearch.com/roblox/" rel="noreferrer noopener">such as user numbers</a>.
The report alleged that Roblox inflated key user metrics, claiming daily active users (DAUs) and engagement hours are overstated by 25-42% and over 100%, respectively.
Benzinga has reached out to Roblox for comments.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40771775/roblox-targets-1b-users-boosting-growth-through-apple-alphabet-and-shopify-collaborations" rel="noreferrer noopener">Roblox Targets 1B Users, Boosting Growth Through Apple, Alphabet, and Shopify Collaborations</a>
Hindenburg&#8217;s report accuses Roblox of inflating DAU figures by equating DAUs with unique &#8220;people,&#8221; despite acknowledging in SEC filings that DAUs may include multiple accounts or bots.
Roblox also claimed it couldn&#8217;t identify duplicate accounts, though it tracked and consolidated them internally. Additionally, Roblox inflated engagement hours by including bots and inactive accounts (&#8220;zombies&#8221;), overstating user activity. The company reported key metrics to investors without independent third-party verification, leaving room for manipulation and misrepresentation.
Hindenburg&#8217;s report accused Roblox of prioritizing its growth metrics over child safety by cutting content moderation costs and allowing harmful content to increase on the platform.
Hindenburg claims the company&#8217;s push for higher user engagement led to lax safety measures, exposing children to inappropriate content, such as sexual exploitation, violence, and predatory behavior, all to boost user numbers and satisfy investors.
Hindenburg also highlighted insider stock sales and executive turnover as red flags. Since the company went public in 2021, Roblox insiders, including CEO David Baszucki, have sold $1.7 billion in shares. Meanwhile, three senior executives, including the CFO, have resigned within the last year, raising concerns about internal issues.
Since becoming a public company, Roblox has failed <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40099661/robloxs-q2-earnings-31-topline-growth-increased-user-engagement-guidance-hike" rel="noreferrer noopener">to turn profitable</a>, with losses totaling $1.07 billion in the last twelve months (LTM).
Last week, The Bear Cave&nbsp;released <a target="_blank" href="https://www.benzinga.com/news/24/10/41170031/short-seller-alleges-roblox-facilitated-widespread-child-abuse-potentially-played-a-role-in-mass-sho" rel="noreferrer noopener">a bearish report</a> targeting Roblox for the fourth time since 2022. The report brought charges against Roblox, including the production of child pornography, child kidnapping, and physical abuse.
Roblox stock is up over 28% in the last 12 months. Investors can gain exposure to the stock through Vanguard Mid-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>) and Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Action: RBLX stock is down 5.82% at $38.93 at&nbsp;the last check Tuesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/09/40931562/cathie-woods-ark-invest-continues-dumping-robinhood-and-palantir-shares-as-interest-rates-fall" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Ark Invest Continues Dumping Robinhood And Palantir Shares As Interest Rates Fall</a></li>
</ul>
Photo via Shutterstock

News

Trading Ideas

RBLX

Hindenburg Hits Roblox With Short Report, Accuses Gaming Platform of Misleading Investors By Inflating Metrics

Automotive retailer AutoZone, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) reported fourth-quarter earnings per share of $51.58, missing the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40998321/autozone-4th-quarter-total-company-same-store-sales-increase-1-3-domestic-same-store-sales-increas" rel="noreferrer noopener">Street view of $53.53</a>.
Quarterly revenues of $6.205 billion (+9.0% year over year) marginally missed the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus of $6.221 billion</a>. Excluding sales from the additional week included in this year&#8217;s quarter, adjusted sales were up 2.6%.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/price-target/24/09/40992610/autozone-q4-earnings-preview-data-shows-strong-visit-growth-analyst-says-company-to-" rel="noreferrer noopener">AutoZone Q4 Earnings Preview: Data Shows Strong Visit Growth, Analyst Says Company To &#8216;Continue To Take Share Over Time&#8217;</a>
AutoZone said its fourth-quarter total company same-store sales increased 1.3%,&nbsp;while domestic sales grew 0.2%.
The gross profit margin for the quarter was 52.5%, down by 21 basis points year over year, primarily driven by a 53 basis point non-cash LIFO impact. Operating profit increased 6.1% to $1.3 billion.&nbsp;
Under its share repurchase program, AutoZone repurchased 244 thousand shares of its common stock during the fourth quarter at an average price per share of $2,915, for a total investment of $710.6 million.
Since the inception of the share repurchase program, the company has repurchased 155 million shares of its common stock at an average price of $238, for a total investment of $37.0 billion. At year end, the company had $2.2 billion remaining under its current share repurchase authorization.
During the quarter that ended August 31, AutoZone opened 68 new stores in the U.S., 31 in Mexico, and 18 in Brazil, for a total of 117 net new stores.&nbsp;
AutoZone&#8217;s sales per average store reached $0.84 million, up from $0.79 million Y/Y during the quarter. The sales per average square foot grew to $124, up from $118 Y/Y. Total auto parts sales reached $6.09 billion, up from $5.59 billion Y/Y.
The domestic commercial sales for the quarter reached $1.66 billion, up from $1.5 billion Y/Y.
The company had 6,432 stores in the U.S., 794 in Mexico, and 127 in Brazil, for a total store count of 7,353.
AutoZone stock gained over 18% in the last 12 months. Investors can gain exposure to the stock through Vanguard Mid-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>) and iShares Russell 1000 Growth ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWF#NYSE">IWF</a>).
Price Action:&nbsp;AZO stock is trading lower by 3.73% to $2,935.01 premarket at the last check on Tuesday.&nbsp;
Photo via Shutterstock

Earnings

Movers

AutoZone Q4 Earnings: 9% Revenue Growth, Opens 117 New Stores, 1.3% Same-Store Sales Growth And More

Designed to provide broad exposure to the Mid Cap Blend segment of the US equity market, the BNY Mellon US Mid Cap Core Equity ETF (ARCA:BKMC) is a passively managed exchange traded fund launched on 04/09/2020.
The fund is sponsored by Bny Mellon. It has amassed assets over $495.10 million, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.
<h2>Why Mid Cap Blend</h2>
Compared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. Thus, companies that fall under this category provide a stable and growth-heavy investment.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
<h2>Costs</h2>
Investors should also pay attention to an ETF&#39;s expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.04%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.39%.
<h2>Sector Exposure and Top Holdings</h2>
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund&#39;s holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 26.60% of the portfolio. Consumer Discretionary and Healthcare round out the top three.
Looking at individual holdings, Godaddy Inc - Class A (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gddy#NYSE">GDDY</a>) accounts for about 0.64% of total assets, followed by Leidos Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ldos#NYSE">LDOS</a>) and Texas Pacific Land Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpl#NYSE">TPL</a>).
The top 10 holdings account for about 5.48% of total assets under management.
<h2>Performance and Risk</h2>
BKMC seeks to match the performance of the MORNINGSTAR U.S. MID CAP INDEX before fees and expenses. The Morningstar US Mid Cap Index is a float-adjusted market capitalization weighted index designed to measure the performance of U.S. medium-capitalization stocks.
The ETF has added about 9.48% so far this year and it&#39;s up approximately 21.08% in the last one year (as of 09/16/2024). In the past 52-week period, it has traded between $75.04 and $99.80.
The ETF has a beta of 1.02 and standard deviation of 19.22% for the trailing three-year period. With about 407 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
BNY Mellon US Mid Cap Core Equity ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, BKMC is a good option for those seeking exposure to the Style Box - Mid Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The Vanguard Mid-Cap ETF (ARCA:VO) and the iShares Core S&amp;P Mid-Cap ETF (ARCA:IJH) track a similar index. While Vanguard Mid-Cap ETF has $67.95 billion in assets, iShares Core S&amp;P Mid-Cap ETF has $88.17 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.
<h2>Bottom-Line</h2>
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
<a href="https://www.zacks.com/stock/news/2336241/should-bny-mellon-us-mid-cap-core-equity-etf-bkmc-be-on-your-investing-radar?cid=CS-BENZ-FT-style_box_etf-2336241">To read this article on Zacks.com click here.</a>

Large Cap

Mid Cap

Sector ETFs

Broad U.S. Equity ETFs

Dividends

Markets

Analyst Ratings

ETFs

BKMC

GDDY

LDOS

Should BNY Mellon US Mid Cap Core Equity ETF Be on Your Investing Radar?

Roblox Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) announced multiple upcoming changes to encourage more traditional game developers. Techcrunch <a target="_blank" href="https://techcrunch.com/2024/09/06/roblox-introduces-new-earning-opportunities-for-creators-teases-generative-ai-project/'" rel="noreferrer noopener">cites</a> Roblox chief product officer Manuel Bronstein in an interview.
The online gaming company is looking to open up more opportunities for creators, including a project that will power generative AI creation on the platform.&nbsp;TechCrunch reports that Roblox proposed a "Price Optimization" tool to help developers identify the best price for in-experience purchases.&nbsp;
Creators will now receive 50% of the revenue for paid experiences worth $9.99, 60% for experiences worth $29.99, and 70% for experiences worth $49.99, TechCrunch cites from the annual Roblox Developers Conference Friday. The creators earn about 25% of the revenue for their paid experiences.&nbsp;
Roblox CEO and Co-Founder&nbsp;Dave Baszucki&nbsp;eyes 10% of the global video-game content market when it reaches 300 million daily active users by collaborating with Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>),&nbsp;Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and&nbsp;Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>),
Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-09-06/roblox-aims-to-attract-10-of-180-billion-gaming-content-market?srnd=phx-technology&amp;sref=TBDibEcD" rel="noreferrer noopener">cites</a> from the conference.
Baszucki told Bloomberg that the gaming market accounts for $180 billion in content revenue annually.
Roblox also tapped&nbsp;Shopify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) to help users sell physical products through digital Roblox experiences.
The gaming company also revealed plans for a new program to price paid-access experiences on desktop versions in real currency.
Baszucki told Bloomberg that in 2023, Roblox paid over $800 million to its community of game developers.
Roblox's fiscal 2024 investor guidance of <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40099661/robloxs-q2-earnings-31-topline-growth-increased-user-engagement-guidance-hike" rel="noreferrer noopener">$4.2 billion in bookings</a> is about 2% of the global gaming market, which Baszucki estimates currently at $160 billion and $180 billion, the Verge <a target="_blank" href="https://www.theverge.com/2024/9/6/24237685/robloxs-ceo-on-getting-to-1-billion-users" rel="noreferrer noopener">reports</a>. Baszucki told Verge its ambition is to reach 1 billion users, citing that Roblox could beat the entire AAA game industry.
Roblox stock gained 53% in the last 12 months. Investors can gain exposure to the stock through Vanguard Mid-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>) and Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Action: RBLX stock is up 1.79% at $44.42 premarket at the last check Monday.
Photo via Shutterstock

Media

AAPL

GOOG

GOOGL

SHOP

TCEHY

Roblox Targets 1B Users, Boosting Growth Through Apple, Alphabet, and Shopify Collaborations

Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) chief Alex Karp is in no mood to play the apology card or be politically correct for its military, police, and U.S. Immigration and Customs Enforcement services despite facing massive flak and protests.
&#8220;If you have a reputation for talking about what the pope says when you meet him,&#8221; Mr. Karp explained, &#8220;you&#8217;ll never meet the pope again,&#8221; TechCrunch <a target="_blank" href="https://techcrunch.com/2024/08/17/palantir-ceo-alex-karp-is-not-going-to-apologize-for-military-work/" rel="noreferrer noopener">cites</a> from a New York Times interview.
Karp acknowledged the company&#8217;s consistent pro-Western view despite polarising views regarding the appeasement of Iran, Russia, and China.
Karp refused to apologize for defending the U.S. government on the border or offering its product to Ukraine or Israel. Per the interview, he has no qualms about protecting the Special Ops and bringing the people home.
Karp stood out for supporting President Joe Biden despite being criticized for handling the border and his overreliance on Hollywood elites, the New York Times <a target="_blank" href="https://www.nytimes.com/2024/08/17/style/alex-karp-palantir.html" rel="noreferrer noopener">reports</a>. Interestingly, Karp is supporting Vice President Kamala Harris.
Karp also maintained his pro-artificial intelligence stance, indispensable to preventing AI abuse.
In August, Palantir <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40172453/palantir-q2-earnings-revenue-beat-eps-beat-customer-count-up-41-driven-by-strength-in-us-commercial" rel="noreferrer noopener">reported second-quarter</a> revenue of $678.13 million, up 27% year-over-year, topping the&nbsp;analyst consensus of $652.1 million.
Commercial revenue grew 33% year-over-year. Government revenue climbed 23% year-over-year.
Wedbush Securities analyst&nbsp;Dan Ives hailed Palantir as the <a target="_blank" href="https://www.benzinga.com/trading-ideas/technicals/24/08/40318702/palantirs-ai-triumph-is-a-new-bull-market-on-the-horizon" rel="noreferrer noopener">&#8220;Messi of AI,&#8221;</a> while Cathie Wood&#8217;s Ark Invest expanded exposure to the stock.
Palantir Technologies stock has surged over 121% in the last 12 months. Investors can gain exposure to the stock through Vanguard Mid-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>) and Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Action: PLTR stock was trading higher by 1.50% to $32.56 premarket at the last check on Monday.
Photo by Spyro the Dragon on Shutterstock

Management

PLTR

Palantir's Alex Karp Defends Military Partnerships, Stands Firm on Pro-Western Stance: Report

If you&#39;re interested in broad exposure to the Mid Cap Blend segment of the US equity market, look no further than the JPMorgan Diversified Return U.S. Mid Cap Equity ETF (ARCA:JPME), a passively managed exchange traded fund launched on 05/11/2016.
The fund is sponsored by J.P. Morgan. It has amassed assets over $420.30 million, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.
<h2>Why Mid Cap Blend</h2>
Compared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. These types of companies, then, have a good balance of stability and growth potential.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
<h2>Costs</h2>
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.24%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.78%.
<h2>Sector Exposure and Top Holdings</h2>
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund&#39;s holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 12.30% of the portfolio. Financials and Real Estate round out the top three.
Looking at individual holdings, Vistra Corp Common Stock (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vst#NYSE">VST</a>)&nbsp;accounts for about 0.65% of total assets, followed by Tenet Healthcare Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/thc#NYSE">THC</a>) and International Paper Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ip#NYSE">IP</a>).
The top 10 holdings account for about 5.04% of total assets under management.
<h2>Performance and Risk</h2>
JPME seeks to match the performance of the Russell Midcap Diversified Factor Index before fees and expenses. The JP Morgan Diversified Factor US Mid Cap Equity Index utilizes a rules-based approach that combines risk-based portfolio construction with multi-factor security selection, including value, quality and momentum factors.
The ETF has gained about 10.33% so far this year and it&#39;s up approximately 13.09% in the last one year (as of 07/31/2024). In the past 52-week period, it has traded between $79.30 and $100.65.
The ETF has a beta of 1.04 and standard deviation of 16.74% for the trailing three-year period. With about 366 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
JPMorgan Diversified Return U.S. Mid Cap Equity ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, JPME is a reasonable option for those seeking exposure to the Style Box - Mid Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The Vanguard Mid-Cap ETF (ARCA:VO) and the iShares Core S&amp;P Mid-Cap ETF (ARCA:IJH) track a similar index. While Vanguard Mid-Cap ETF has $65.69 billion in assets, iShares Core S&amp;P Mid-Cap ETF has $88.19 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.
<h2>Bottom-Line</h2>
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
<a href="https://www.zacks.com/stock/news/2312599/should-jpmorgan-diversified-return-u-s-mid-cap-equity-etf-jpme-be-on-your-investing-radar?cid=CS-BENZ-FT-style_box_etf-2312599">To read this article on Zacks.com click here.</a>

Health Care

General

JPMorgan Diversified Return U.S. Mid Cap Equity ETF

JPME

Should JPMorgan Diversified Return U.S. Mid Cap Equity ETF Be on Your Investing Radar?

FactSet Research Systems Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDS#NYSE">FDS</a>)&nbsp;reported third-quarter fiscal 2024 sales growth of 4.3% Y/Y to $552.708 million versus the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39429780/factset-reports-results-for-third-quarter-2024" rel="noreferrer noopener">analyst&nbsp;consensus estimate of $552.712 million</a>.&nbsp;
Organic revenue rose 4.5% Y/Y to $553.43 million, aided by institutional asset managers, asset owners, partners, and corporates.
Adjusted EPS of $4.37 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus estimate of $3.90</a>. The stock price gained after the print.
As of May-end, the client count was 8,029, a net increase of 9 clients in the past three months, primarily driven by wealth, corporates, and partners. The count includes clients with ASV of $10,000 and more.
Adjusted operating margin improved to 39.4% (+340 bps Y/Y).&nbsp;Adjusted EBITDA increased to $239.9 million, up 16.9% due to higher operating income.
The company held $522.03 million in cash and equivalents as of May 31, 2024.&nbsp;
CEO Phil Snow said, &#8220;We maintain an optimistic outlook as we further invest in our platform and harness the power of generative AI to accelerate our clients&#8217; efficiency and decrease their total cost of ownership.&#8221;
FY24 Outlook:&nbsp;FactSet&nbsp;revised the fiscal 2024 revenue outlook to $2.18 billion &#8211; $2.19 billion (<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37873636/why-is-factset-research-systems-stock-trading-lower-thursday" rel="noreferrer noopener">prior $2.20 billion – $2.21 billion</a>) vs. $2.20 billion estimate and adjusted EPS of $16.00 &#8211; $16.40 (prior $15.60 – $16.00) vs.&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $15.98</a>.
The company revised adjusted operating margin guidance to 37.0% &#8211; 37.5% (prior 36.3% – 36.7%).
FDS stock lost close to 4% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>) and Vanguard Mid-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>).
Price Action: FDS shares traded higher by 3.92% at $424.35 premarket at the last check Friday.

Equities

Guidance

FactSet Reports Impressive Q3 Growth, CEO Highlights AI Investment for Boosting Client Efficiency

Firebrand Republican Congresswoman&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38348258/marjorie-taylor-greene-takes-step-back-in-effort-to-remove-speaker-mike-johnson-but-blasts-him-as-a" rel="noreferrer noopener">Marjorie Taylor Greene</a>&nbsp;(R-GA) made headlines Thursday&nbsp;with a disclosure of&nbsp;her latest financial transactions.
What Happened: Greene&#8217;s filing on Thursday marks her first periodic transaction report since June 2022, adhering to the &#8220;Stock Trading on Congressional Knowledge Act.&#8221; This act mandates U.S. lawmakers to publicly disclose financial transactions within 45 days of occurrence, typically within a value range.
All transactions occurred on either April 25 or 26.
The details of Greene&#8217;s transactions are as follows:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Value Range</td>
</tr>
<tr>
<td>Berkshire Hathaway, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Goldman Sachs Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>The Home Depot, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Schwab US Large-Cap Growth Idx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWLGX#NASDAQ">SWLGX</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>The Hershey Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HSY#NYSE">HSY</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Tractor Supply Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSCO#NASDAQ">TSCO</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>US Treasury Bill</td>
<td>$250,001-$500,000</td>
</tr>
<tr>
<td>Vanguard FTSE Developed Markets Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEA#NYSE">VEA</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Vanguard Mid-Cap Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VO#NYSE">VO</a>)</td>
<td>$1,001-$15,000</td>
</tr>
<tr>
<td>Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>)</td>
<td>$15,001-$50,000</td>
</tr>
<tr>
<td>Vanguard Small-Cap Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VB#NYSE">VB</a>)</td>
<td>$1,001-$15,000</td>
</tr>
</tbody>
</table>
</figure>
Sale transactions:
<ul>
<li>iShares Core MSCI Emerging Markets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMG#NYSE">EMG</a>): $1,001-$15,000 </li>
<li>iShares Core MSCI Total International Stock ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IXUS#NASDAQ">IXUS</a>): $1,001-$15,000 </li>
<li>iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>): $1,001-$15,000)</li>
<li>iShares Core S&amp;P Small-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IJR#NYSE">IJR</a>): $1,001-$15,000)</li>
<li>iShares Core S&amp;P U.S. Growth ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IUSG#NASDAQ">IUSG</a>): $1,001-$15,000)</li>
</ul>
All the exchange-traded funds were part of mutual funds held in Greene&#8217;s managed IRA account.
See Also: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
No DJT Trades: Greene, an ardent backer of Republican Presidential candidate Donald Trump, incidentally did not do any new transaction in Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), the former president&#8217;s media company that <a href="https://www.benzinga.com/markets/equities/24/03/37963370/trumps-djt-stock-is-worth-52x-more-than-nvidia-by-1-data-point">came public in late March following its merger with SPAC Digital World Acquisition.</a>
The stock is down about 16% since its public debut.
When Digital World Acquisition announced its decision with Trump Media &amp; Technology Group in 2021, Green was the first Congress member to invest in the SPAC. She then reported that she along with her then-husband Perry Greene bought $15,001-$50,000 worth of the SPAC&#8217;s shares
Greene hasn&#8217;t disclosed any sale of the stock since then.
The stock market has been on a tear this year despite the headwinds. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an ETF that tracks the broader S&amp;P 500 Index, rose 0.34% to $506.74, in premarket trading, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>It has gained over 6.5% so far this year.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/05/38609896/wall-street-looks-to-feed-off-apples-post-earnings-power-but-key-jobs-data-may-upset-the-cart-analy">Wall Street Looks To Feed Off Apple&#8217;s Post-Earnings Power But Key Jobs Data May Upset The Cart: Analyst Says &#8216;A Lot Of These Clouds Will Lift&#8217; If This Happens</a>

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Marjorie Taylor Greene Reveals New Stock Trades After 2-Year Gap: Berkshire Hathway, Goldman Sachs And Microsoft Make The List — But Trump's DJT Doesn't

If you&#39;re interested in broad exposure to the Mid Cap Blend segment of the US equity market, look no further than the Vanguard Mid-Cap ETF (ARCA:VO), a passively managed exchange traded fund launched on 01/26/2004.
The fund is sponsored by Vanguard. It has amassed assets over $63.11 billion, making it one of the largest ETFs attempting to match the Mid Cap Blend segment of the US equity market.
Why Mid Cap Blend
Mid cap companies, with market capitalization in the range of $2 billion and $10 billion, offer investors many things that small and large companies don&#39;t, including less risk and higher growth opportunities. Thus, companies that fall under this category provide a stable and growth-heavy investment.
Typically holding a combination of both growth and value stocks, blend ETFs also demonstrate qualities seen in value and growth investments.
Costs
Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF&#39;s expense ratio.
Annual operating expenses for this ETF are 0.04%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 1.52%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 18% of the portfolio. Information Technology and Financials round out the top three.
Looking at individual holdings, Amphenol Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aph#NYSE">APH</a>) accounts for about 0.85% of total assets, followed by Arthur J Gallagher &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ajg#NYSE">AJG</a>) and Motorola Solutions Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msi#NYSE">MSI</a>).
The top 10 holdings account for about 5.62% of total assets under management.
Performance and Risk
VO seeks to match the performance of the CRSP US Mid Cap Index before fees and expenses. The CRSP US Mid Cap Index targets inclusion of the U.S. companies that fall between the top 70%-85% of investable market capitalization.
The ETF has added roughly 6.10% so far this year and is up about 24.20% in the last one year (as of 03/25/2024). In the past 52-week period, it has traded between $195.66 and $247.32.
The ETF has a beta of 1.08 and standard deviation of 18.78% for the trailing three-year period, making it a medium risk choice in the space. With about 338 holdings, it effectively diversifies company-specific risk.
Alternatives
Vanguard Mid-Cap ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, VO is an excellent option for investors seeking exposure to the Style Box - Mid Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.
The iShares Russell Mid-Cap ETF (ARCA:IWR) and the iShares Core S&amp;P Mid-Cap ETF (ARCA:IJH) track a similar index. While iShares Russell Mid-Cap ETF has $32.61 billion in assets, iShares Core S&amp;P Mid-Cap ETF has $83.50 billion. IWR has an expense ratio of 0.19% and IJH charges 0.05%.
Bottom-Line
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
<a href="https://www.zacks.com/stock/news/2245283/should-vanguard-mid-cap-etf-vo-be-on-your-investing-radar?cid=CS-BENZ-FT-style_box_etf-2245283">To read this article on Zacks.com click here.</a>

Should Vanguard Mid-Cap ETF (VO) Be on Your Investing Radar?

With mid-cap exchange traded funds garnering more attention, many investors are wanting to become more aware of their options in this overlooked, but rewarding segment of the equity market.
Indeed, the universe of mid-cap ETFs is home to unique offerings, <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/11/14775137/minding-mid-cap-stocks-and-etfs-for-dividends">income-oriented plays</a>, some exotic funds and some boring, but straightforward and cost-effective ideas. The Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vo#NYSE">VO</a>) resides in the last category just mentioned, but that&#39;s by no means a knock on the fund.
VO is one of just seven mid- and small-cap ETFs that garner a <a href="https://www.morningstar.com/articles/954302/the-best-equity-etfs">Morningstar rating of Gold</a>, so it&#39;s safe to say this Vanguard fund is in some pretty illustrious company.
<h3>Why It&#39;s Important </h3>
VO holds 365 stocks, obviously less than the 400 or so found in ETFs that track the S&amp;P MidCap 400 Index. The median market value of VO&#39;s holdings is $15.7 billion, which is high by the standards of mid-cap funds. That&#39;s about 2.5 times the average market capitalization of the S&amp;P MidCap 400.
Sure, the heft of VO&#39;s holdings violates the strict definition of mid-cap territory ending at $10 billion, but there are advantages, including slightly lower volatility than rival mid-cap funds that have lower average caps among the components. Plus, VO is cheap. Really cheap by mid-cap standards.
&ldquo;Vanguard charges an ultra-low 0.04% fee for this fund. This cost advantage has translated into strong category-relative performance over the long term,&rdquo; <a href="https://www.morningstar.com/etfs/arcx/vo/quote">Morningstar said</a>. &ldquo;Over the trailing 10 years through June 2019, the fund has outperformed the category average by 277 basis points annualized while assuming similar risk. Overall, this fund should continue to enjoy a durable long-term edge over many of its competitors because of the low expense ratio.&quot;
<h3>What&#39;s Next</h3>
In addition to the aforementioned low fee, the other benefits of VO, which are frequently noted in <a href="https://www.benzinga.com/trading-ideas/long-ideas/19/11/14751733/why-etfs-are-the-better-way-to-mid-cap-stocks">reference to mid-cap ETFs</a>, are outperformance potential over large-cap funds and less volatility than small-cap equivalents.
&ldquo;Mid-cap stocks tend to have higher long-term growth potential than large-cap stocks,&rdquo; according to Morningstar. &ldquo;This is evidenced by the Vanguard Mid-Cap ETF&rsquo;s higher earnings growth compared with the Vanguard Large-Cap ETF over the 10 years through July 2019. Furthermore, mid-cap stocks exhibit less volatility than small-cap companies. For the decade ended July 2019, Vanguard Mid-Cap ETF&rsquo;s annualized standard deviation of returns was 14.2% versus 16.3% for the for the Vanguard Small-Cap ETF.&rdquo;
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Vanguard, the second-largest U.S. issuer of exchange traded funds, is again wielding its low-cost sword.
On April 26, <a href="https://www.benzinga.com/money/vanguard-review/">Vanguard</a> said it&#39;s lowering fees on 21 of its ETFs, including its two largest funds, the Vanguard S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/voo#NYSE">VOO</a>) and the Vanguard Total Stock Market ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vti#NYSE">VTI</a>).
<h3>What Happened</h3>
VTI and VOO are the third- and fourth-largest U.S.-listed ETFs, respectively, and are <a href="https://etfdb.com/compare/market-cap/">two of the four</a> ETFs with more than $100 billion in assets under management. The $114.79 billion VTI is now charging 0.03 percent year, or $3 on a $10,000 investment, down from 0.04 percent. The $112.94 billion VOO also saw its annual fee reduced to 0.03 percent from 0.04 percent.
Including VOO and VTI, Vanguard announced lower fees on <a href="https://investornews.vanguard/lower-expense-ratios-on-21-vanguard-etfs-means-more-savings-for-you/">eight domestic ETFs</a>. The following ETFs saw their fees reduced to 0.04 percent from 0.05 percent: The Vanguard Growth ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vug#NYSE">VUG</a>), the Vanguard Value ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vtv#NYSE">VTV</a>), the Vanguard Large-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vv#NYSE">VV</a>) and the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vo#NYSE">VO</a>).
The Vanguard Extended Market ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vxf#NYSE">VXF</a>) saw its annual fee pared to 0.07 percent from 0.08 percent while the Vanguard High Dividend Yield ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vym#NYSE">VYM</a>) is charging 0.06 percent, down from 0.08 percent.
<h3>Why It&#39;s Important</h3>
As issuers have reduced fees across product lineups, international funds have steadily gotten cheaper. Nine international equity ETFs are part of the latest round of Vanguard fee reductions.
The following funds are now charging 0.09 percent, down from 0.10 percent: the Vanguard Total World Stock Market ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vt#NYSE">VT</a>), the Vanguard FTSE Europe ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vgk#NYSE">VGK</a>) and the Vanguard FTSE Pacific ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vpl#NYSE">VPL</a>).
The Vanguard Total International Stock ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vxus#NASDAQ">VXUS</a>) and the Vanguard FTSE All-World ex-US ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/veu#NYSE">VEU</a>) are now charging 0.09 percent, down from 0.11 percent.
The $72.16 billion Vanguard FTSE Developed Markets ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vea#NYSE">VEA</a>), the sixth-largest U.S.-listed ETF, saw its fee reduced to 0.05 percent from 0.07 percent,&nbsp;while the Vanguard FTSE All-World ex-US Small-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vss#NYSE">VSS</a>) saw a modest fee reduction of one basis point to 0.12 percent.
The Vanguard FTSE Emerging Markets ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vwo#NYSE">VWO</a>) and the Vanguard Global ex-U.S. Real Estate ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnqi#NASDAQ">VNQI</a>) both now charge 0.12 percent annually, down from 0.14 percent. Home to $65.35 billion in assets under management, VWO is the world&#39;s largest emerging markets ETF.
<h3>What&#39;s Next</h3>
Vanguard also lowered the fees on four fixed income ETFs. The Vanguard Emerging Markets Government Bond ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vwob#NASDAQ">VWOB</a>) now charges 0.30 percent, down from 0.32 percent. The Vanguard Total International Bond ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bndx#NASDAQ">BNDX</a>) also a fee cut of two basis points to 0.09 percent.
The Vanguard Total Bond Market ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bnd#NYSE">BND</a>) and the Vanguard Tax-Exempt Bond ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vteb#NASDAQ">VTEB</a>), Vanguard&#39;s first municipal bond ETF, both lowered fees by one basis point.
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For much of the current bull market in U.S. stocks, mid-cap equities and exchange traded funds have been leaders. That trend has cooled over the past several years.
For the three years ended July 30, the S&amp;P MidCap 400 Index trailed the large-cap S&amp;P 500 and the S&amp;P SmallCap 600 Index. Some market observers believe mid-caps can rise again, buoyed by tax cuts and increased mergers and acquisitions activity.
<h3>What Happened</h3>
While smaller stocks are rallying this year, mid-caps are being left behind. The SPDR S&amp;P MIDCAP 400 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mdy#NYSE">MDY</a>), which tracks the aforementioned S&amp;P MidCap 400, is up 4.1 percent year-to-date, putting it 170 basis points behind the S&amp;P 500. The S&amp;P SmallCap 600 is beating MDY by more than 2-to-1.
MDY&#39;s 399 holdings have market values ranging from $1 billion to $4.5 billion, though the standard <a href="https://www.investopedia.com/terms/m/midcapstock.asp">widely accepted definition</a> of mid-cap is a stocks with a market capitalization of $2 billion to $10 billion.
<h3>Why It&#39;s Important</h3>
Regarding the impact of mergers and acquisitions, &ldquo;That&rsquo;s the market phenomenon where companies that are deemed potential takeover targets get bid up based on a higher anticipated acquisition price,&rdquo; <a href="https://www.bloomberg.com//news/articles/2018-07-30/mid-cap-stocks-still-have-room-to-run-as-m-a-effect-kicks-in">reports Bloomberg</a>. &ldquo;Many investors see mid-cap companies as a sort of sweet spot for deals, since they&rsquo;ve surpassed their infancy and shown their staying power but aren&rsquo;t expensive behemoths yet.&rdquo;
MDY allocates nearly 10 percent of its weight to the health care sector, a group that has already seen brisk consolidation activity this year, due in large part to the tax reform legislation passed in late 2017. The technology and consumer discretionary sectors, MDY&#39;s second- and fourth-largest sector weights, respectively, could also be fertile territory for larger acquirers.
Historical data suggest mid-caps are often favored targets. Since 2009, MDY has seen 10 percent more takeovers than its large-cap counterpart, the SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spy#NYSE">SPY</a>), according to Bloomberg data.
<h3>What&#39;s Next</h3>
While investors have been revisiting small-cap ETFs and sticking with some large-cap domestic equity funds, some mid-cap ETFs are doing fairly well in terms of year-to-date inflows.
The iShares Core S&amp;P Mid-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ijh#NYSE">IJH</a>), which also tracks the S&amp;P MidCap 400, and the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vo#NYSE">VO</a>), have seen combined 2018 inflows of $3.32 billion.
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M&A Could Make Mid-Cap ETFs Great Again

Broadly speaking, exchange-traded funds have been on a torrid pace of asset gathering through the first quarter, but there have recently been some signs of departures from large-cap equity funds. Data suggest investors are also retreating from some popular mid-cap ETFs.
In terms of outflows, March has not been kind to the SPDR S&amp;P MidCap 400 ETF (NYSE: <a class="ticker" href="/stock/mdy#NYSE">MDY</a>) and the iShares Core S&amp;P Mid Cap ETF (NYSE: <a class="ticker" href="/stock/ijh#NYSE">IJH</a>). Both of those ETFs <a href="https://www.benzinga.com/trading-ideas/long-ideas/16/12/8848480/mid-cap-etfs-hit-by-departures">track the widely followed</a> S&amp;P MidCap 400 Index.
&ldquo;IJH has over $38 billion in assets under management, while MDY is the second largest Mid-Cap ETF behind it with $19.5 billion,&rdquo; said<a href="http://streetonefinancial.com/"> Street One Financial</a> Vice President Paul Weisbruch in a recent note. &ldquo;So while recent redemptions are certainly not gigantic in size, they&rsquo;re still&nbsp;notable nonetheless given the year-to-date underperformance MidCaps have displayed versus the Large-Cap S&amp;P 500 (trailing by nearly 300 basis points YTD).&rdquo;
<h3>Recent Investor Action</h3>
Since the start of March, investors have yanked almost $1.2 billion combined from IJH and MDY. With cyclical sectors in favor for much of this year, it is interesting that mid-cap ETFs such as IJH and MDY would be bleeding assets.
For example, IJH devotes over 18 percent of its weight to technology, one of this year&#39;s best-performing sectors. Additionally, cyclical financial services, industrial and consumer discretionary names combine for about 41 percent of the ETF&#39;s weight.
Some mid-cap ETFs are dodging the outflows trend. For example, the iShares S&amp;P Mid-Cap 400 Value ETF (NYSE: <a class="ticker" href="/stock/ijj#NYSE">IJJ</a>) has added nearly $53 million in new money this month. The $6.1 billion IJJ holds 286 and follows the S&amp;P MidCap 400 Value Index. IJJ allocates over 45 percent of its weight to financial services, technology and industrial stocks.
As has been the case with so many Vanguard ETFs this year, the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>) is packing on the assets. This month, investors have added $244.5 million to VO, bringing the ETF&#39;s year-to-date inflows total to over $1 billion. That is good for one of the best tallies among mid-cap ETFs.
VO only charges 0.08 percent per year, or just $8 on a $10,000 investment. That makes VO cheaper than 93 percent of competing funds, <a href="https://personal.vanguard.com/us/funds/snapshot?FundId=0939&amp;FundIntExt=INT">according to Vanguard data</a>.
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Investors Back Away From Mid-Cap ETFs

Mid-cap exchange-traded funds have been among this year&#39;s best-performing broad market ETFs. Broadly speaking, mid-cap ETFs have also been prolific asset gatherers, but that trend is changing as 2016 draws to a close.
<h3>DON And MDY</h3>
The WisdomTree MidCap Dividend Fund (ETF) (NYSE: <a class="ticker" href="/stock/don#NYSE">DON</a>) and the SPDR S&amp;P MidCap 400 ETF (NYSE: <a class="ticker" href="/stock/mdy#NYSE">MDY</a>) are up an average of 21.6 percent year-to-date, underscoring the strength of mid-cap stocks. As its name implies, MDY follows the S&amp;P MidCap 400. DON tracks the WisdomTree MidCap Dividend Index, which weights its holdings based on cash dividend projections for the coming year.
DON and MDY are two of the <a href="https://www.benzinga.com/trading-ideas/long-ideas/16/01/6119700/the-allure-of-mid-cap-dividends">most popular mid-cap ETFs</a>, but other funds in this category also hold billions in assets and it is some of those funds that are recently falling victim to outflows.
<h3>VO And IJJ</h3>
Investors have recently been departing the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>) and the iShares S&amp;P MidCap 400 Value Index (ETF) (NYSE: <a class="ticker" href="/stock/ijj#NYSE">IJJ</a>). IJJ is up nearly 28 percent this year, while VO is higher by 12.7 percent.
&ldquo;Specifically, we notice over $1.3 billion leaving <a href="http://etfdailynews.com/etf/SPY/">VO</a> (Vanguard Mid-Cap) and more than $1 billion flowing out of <a href="http://etfdailynews.com/etf/IJJ/">IJJ</a> (iShares Mid-Cap 400 Value). The two funds respectively have about $16.6 billion and $5.6 billion in assets under management,&rdquo; said <a href="http://streetonefinancial.com/">Street One Financial</a> Vice President Paul Weisbruch in a note out Wednesday.
Still, the recent outflows from big-name mid-cap ETFs like IJJ and VO do not put significant dents in the overall bullishness of 2016 mid-cap ETF flows.
<h3>Inflows And Outflows</h3>
&ldquo;So these larger inflows are worth noting, even if they are simply tax-related portfolio tilts or performance/end-of-quarter linked trading. Even with the latest outflows, VO has still had a more than respectable year in 2016 in terms of attracting net assets, with more than $2.2 billion in while IJJ has still managed to attain a net positive $700 million in during this time frame,&rdquo; added Weisbruch.
IJJ allocates over 21 percent of its weight to financial services stocks while industrial, technology and consumer discretionary names combine for over a third of the ETF&#39;s weight.
VO is a hit with investors in part to its low fee. With an annual expense ratio of just 0.08 percent, VO is less expensive than 93 percent of rival funds, <a href="https://personal.vanguard.com/us/funds/snapshot?FundId=0939&amp;FundIntExt=INT">according to Vanguard data</a>.

Mid-Cap ETFs Hit By Departures

There is a slew of data points suggesting that active management has some, to put it delicately, shortcomings. Those issues are particularly acute when drifting away from large caps to mid and small caps.
&ldquo;The March 2016 persistence scorecard, published last week, showed that just 19 percent of small-cap funds and 24 percent of mid-cap funds that were top-half performers in the 12-months ended March 2014 were able to maintain top-half performance in two consecutive 12-month periods. Performance consistency was strongest for large-cap funds, but still only 30 percent maintained a top-half ranking,&rdquo; said <a href="http://trymsatoday.com/">S&amp;P Capital IQ</a> in a note out Monday.
<h3>The Appeal Of Smaller Caps</h3>
Other data points regarding actively managed mid- and small-cap funds remind investors of the old saying that past performance is not a guarantee of future returns, meaning some high-flying active mid- and small-cap funds do not always prove durable.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/long-ideas/16/08/8371764/an-even-hotter-way-to-an-already-hot-etf-trade">An Even Hotter Way To An Already Hot ETF Trade</a></bzrelatedlink>
&ldquo;Previously top performing mutual funds can &mdash; and regularly are &mdash; shut down. S&amp;P Dow Jones Indices looked at the 868 domestic equity mutual funds in the top half of their respective market-cap category and found that 34 percent of them were either merged or liquidated five years later,&rdquo; noted S&amp;P Capital IQ.
Making matters worse are the high fees associated with actively managed small-cap funds, which by some estimates are as high as <a href="http://www.investopedia.com/ask/answers/022116/what-appropriate-small-cap-mutual-fund-fee.asp">1.37 percent per year</a>. On the other hand, investors can own the iShares S&amp;P SmallCap 600 Index (ETF) (NYSE: <a class="ticker" href="/stock/ijr#NYSE">IJR</a>) for just 0.12 percent per year, or $12 on a $10,000 investment.
<h3>It Can Still Be Costly</h3>
Active mid-cap funds are not exactly cheap when it comes to fees, either, with the average being <a href="https://www.thebalance.com/average-expense-ratios-for-mutual-funds-2466612">1.35 percent per year</a>. That certainly makes the 0.08 percent annual fee on the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>) seem all the more attractive.
For just 0.38 percent per year, or nearly 100 basis points less than the average actively managed mid-cap fund, investors looking for exposure to mid caps can tap the WisdomTree MidCap Dividend Fund (ETF) (NYSE: <a class="ticker" href="/stock/don#NYSE">DON</a>).
Not only does DON sport a higher dividend yield than traditional mid-cap indexes, such as the S&amp;P MidCap 400, and 10-year Treasurys, but the WisdomTree ETF has a lengthy history of topping its actively managed rivals. Over the past decade, DON has topped 94 percent of rival funds in the Morningstar Mid-Cap Value category. 
S&amp;P Capital IQ has a Market-Weight rating on IJR and an Overweight rating on VO.
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Small Cap Analysis

Stick With Passive Mid-, Small-Cap ETFs Over Active Funds

Volatility has been the order of the day, well, really the order of close to a month for global financial markets. That much is confirmed by the S&amp;P 500&#39;s 5.8 percent August tumble, but through a spate of volatility that has seeped into September, investors are showing they prefer ETFs to mutual funds.

	&ldquo;According to fund flows from Lipper analyzed by S&amp;P Capital IQ, investors pulled $301 million out of U.S. diversified equity mutual funds in the week ended August 26 and then $770 million the subsequent week. In contrast, investors pulled $5.0 billion out of U.S. diversified equity ETFs in the week ended August 26, only to put $7.8 billion back in the following week ending September 2. In general, ETFs appeared to be the beneficiary of some of the mutual fund withdrawals,&rdquo; said <a href="http://trymsatoday.com/">S&amp;P Capital IQ</a> in a note out earlier this week.

	Exchange traded products listed in the United States, including exchange traded funds, added just $2.4 billion in new assets last month, according to ETF research firm <a href="http://etfgi.com/news/detail/newsid/600">ETGI</a>.

	Still, net <a href="http://www.benzinga.com/news/15/09/5829832/active-management-mediocrity-continues#ixzz3lOAWi26Z">U.S. ETF inflows</a> through the first eight months of the year were $127.5 billion and the U.S. ETF industry is now home to $2.03 trillion in combined assets under management.

	&ldquo;For example, after $4.3 billion of outflows in the first week, S&amp;P 500 index objective ETFs had net inflows of $7.0 billion during the second week. SPDR S&amp;P 500 ETF (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>) gathered $7.2 billion of fresh money. Meanwhile, S&amp;P 500 index objective mutual funds saw $216 million of outflows during the second week, more than the $53 million of outflows in the first week. Columbia Large Cap Index (NINDX) was one of the funds hit the most as $111 million left its fund in the week ended September 2,&rdquo; notes S&amp;P Capital IQ.

	To this point in September, no ETF has added more than $1.03 billion hauled in by the Vanguard S&amp;P 500 ETF (NYSE: <a class="ticker" href="/stock/voo#NYSE">VOO</a>). However, <a href="http://www.benzinga.com/trading-ideas/long-ideas/15/08/5798509/plenty-of-good-reasons-to-consider-this-high-yield-etf">fixed income ETFs </a>have been widely embraced by investors this month as eight of September&#39;s top 10 asset-gathering ETFs are bond funds. That group includes the iShares 1-3 Year Treasury Bond ETF (NYSE: <a class="ticker" href="/stock/shy#NYSE">SHY</a>), SPDR Barclays 1-3 Month T-Bill ETF (NYSE: <a class="ticker" href="/stock/bil#NYSE">BIL</a>) and the iShares iBoxx $ High Yield Corporate Bond ETF (NYSE: <a class="ticker" href="/stock/hyg#NYSE">HYG</a>).

	During the two weeks S&amp;P Capital IQ examined, investors pulled over $2.4 billion from taxable fixed income mutual funds, but &ldquo;$1.3 billion and $3.8 billion flooded into U.S. taxable fixed income ETFs during these two weeks. Among the biggest beneficiaries were those ETFs providing exposure to general US Treasuries ($876 million the second week) and high yield bonds ($487 million). HYG added $450 million alone.&rdquo;

	The Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>) is the other equity-based ETF in addition to VOO that is among this month&#39;s top 10 asset-gathering ETFs.

Short Ideas

iShares Trust Barclays 1-3 Year Treasury Bond Fund

Market Maelstrom Shows Investors Prefer ETFs

The S&amp;P Mid Cap 400 Index (INDEX: MID) hit a new all-time high last week to little fanfare, as attention has been placed on the NASDAQ reaching for the 5,000 level. Despite the lack of hoopla, the index has had a solid year, up 3.5 percent in 2015 and up a whopping 17 percent from the mid-October low.

	There are a number of ETFs that retail investors can put into a portfolio to take advantage of the often-overlooked asset class. As the amount of ETFs continues to grow, it is important to analyze the holdings, fees, volume, etc. of each potential mid-cap ETF. A few of the options are listed below.
<h3>
	iShares Russell Mid-Cap ETF</h3>

	The iShares Russell Midcap Index Fund (ETF) (NYSE: <a class="ticker" href="/stock/iwr#NYSE">IWR</a>) is made up of 842 mid-cap stocks across 11 sectors.

	The top holdings include:
<ul>
<li>
		Kroger Co (NYSE: <a class="ticker" href="/stock/kr#NYSE">KR</a>) at 0.54 percent</li>
<li>
		Cigna Corporation (NYSE: <a class="ticker" href="/stock/ci#NYSE">CI</a>) making up 0.49 percent</li>
<li>
		Avago Technologies Ltd (NASDAQ: <a class="ticker" href="/stock/avgo#NASDAQ">AVGO</a>) coming in at 0.48 percent</li>
</ul>

	IWR is up 10 percent over the last 12 month and up 5 percent over the last six months. The ETF has an expense ratio of 0.20 percent. The ETF is extremely diverse and will cover all areas of the mid-cap space.
<h3>
	Vanguard Mid-Cap ETF</h3>

	The Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>) tracks 369 mid-cap companies across 11 sectors.

	The top individual holdings include:
<ul>
<li>
		Health Care REIT, Inc. (NYSE: <a class="ticker" href="/stock/hcn#NYSE">HCN</a>) at 0.8 percent</li>
<li>
		United Continental Holdings Inc (NYSE: <a class="ticker" href="/stock/ual#NYSE">UAL</a>) at 0.8 percent</li>
<li>
		AvalonBay Communities Inc (NYSE: <a class="ticker" href="/stock/avb#NYSE">AVB</a>) coming in at 0.7 percent</li>
</ul>

	VO is up 11 percent over the last 12 months and up 6 percent over the last six months. The ETF has an extremely low expense ratio of 0.09 percent. The ETF is similar to IWR with its diversity and low reliance on one position. The lower expense ratio is an attractive feature.
<h3>
	PowerShares Fundamental Pure Mid-Core Portfolio ETF</h3>

	The PowerShare Dynamic Mid Core Port. (ETF) (NYSE: <a class="ticker" href="/stock/pxmc#NYSE">PXMC</a>) consists of 156 mid-cap companies across 10 sectors.

	The top holdings include:
<ul>
<li>
		Becton, Dickinson and Co (NYSE: <a class="ticker" href="/stock/bdx#NYSE">BDX</a>) at 1.7 percent</li>
<li>
		Equity Residential (NYSE: <a class="ticker" href="/stock/eqr#NYSE">EQR</a>) making up 1.6 percent</li>
<li>
		Ameriprise Financial, Inc. (NYSE: <a class="ticker" href="/stock/amp#NYSE">AMP</a>) coming in at 1.6 percent</li>
</ul>

	Over the last 12 months, PXMC is up 12 percent and is up 5 percent over the last six months. The ETF has an expense ratio of 0.39 percent. The fact that PXMC weights its holdings based on fundamentals differentiates it from the first two ETFs, and the performance has been able to slightly outperform the last year.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/15/02/5272043/top-4-mid-cap-stocks-in-the-gold-industry-with-the-highest-operating-mar">Top 4 Mid-Cap Stocks In The Gold Industry</a></bzrelatedlink>
<h3>
	PowerShares S&amp;P Mid-Cap Low Volatility ETF</h3>

	The PowerShares Exchange-Traded Fund Trust II (NYSE: <a class="ticker" href="/stock/xmlv#NYSE">XMLV</a>) provides exposure to 80 mid-cap companies across eight sectors.

	The top individual holdings include:
<ul>
<li>
		HCC Insurance Holdings, Inc. (NYSE: <a class="ticker" href="/stock/hcc#NYSE">HCC</a>) making up 1.6 percent</li>
<li>
		American Financial Group Inc (NYSE: <a class="ticker" href="/stock/afg#NYSE">AFG</a>) at 1.6 percent</li>
<li>
		Church &amp; Dwight Co., Inc. (NYSE: <a class="ticker" href="/stock/chd#NYSE">CHD</a>) coming in at 1.6 percent also</li>
</ul>

	The ETF is up 13 percent over the last 12 months and up 8 percent over the last six months. The ETF has an expense ratio of 0.25 percent. The 80 stocks that make up the portfolio have the lowest realized volatility over the last 12 months from the universe of S&amp;P Midcap 400 Index constituents. Ideally, the ETF should have less volatility versus the overall index.
<h3>
	WisdomTree Mid-Cap Dividend ETF</h3>

	The WisdomTree MidCap Dividend Fund (ETF) (NYSE: <a class="ticker" href="/stock/don#NYSE">DON</a>) is made up of 407 dividend-paying mid-cap companies across 10 sectors.

	The top holdings include:
<ul>
<li>
		Windstream Holdings, Inc. (NASDAQ: <a class="ticker" href="/stock/win#NASDAQ">WIN</a>) at 1.3 percent</li>
<li>
		Frontier Communications Corp (NASDAQ: <a class="ticker" href="/stock/ftr#NASDAQ">FTR</a>) totaling 1.2 percent</li>
<li>
		Coach Inc (NYSE: <a class="ticker" href="/stock/coh#NYSE">COH</a>) coming in at 1.1 percent</li>
</ul>

	DON is up 12 percent over the last 12 months and up 5 percent over the last six months. The ETF has an expense ratio of 0.38 percent. The portfolio is weighted based on dividends and rebalanced annually.

	Of the five mid-cap ETFs highlighted, there are several strategies depending on how the investor would like their portfolio weighted. This is one of the great aspects of the growing universe of ETFs.

PXMC

XMLV

Mid-Cap ETFs Quietly Performing

With such an abundance of investments options available today, it is easy to overlook certain securities and even an entire asset class. A majority of the buzz lately has been over large-cap stocks outperforming and small-cap stocks lagging. This leads to a large number of investors overlooking the players that fall in the middle: <a href="http://www.benzinga.com/topic/mid-cap">mid-cap stocks</a>.

	Stocks with a market capitalization between $2 and $10 billion fall into the mid-cap asset class. Despite being widely popular, the Vanguard Small-Cap Index Fund (NYSE: <a class="ticker" href="/stock/vb#NYSE">VB</a>) has underperformed its mid-cap peers by 7 percent year-to-date.

	Large-cap stocks are generally viewed as the safest option, as small-caps are considered to carry above-average risk. Mid-cap stocks typically fall in the middle range, with the potential of higher sales-growth than smaller companies can provide, while eliminating some of the risk associated with infancy stage companies.

	Some mid-cap ETFs to consider when looking to gain exposure to the asset class are listed below.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/trading-ideas/14/12/5059721/top-4-mid-cap-stocks-in-the-lodging-industry-with-the-highest-roi">Top 4 Mid-Cap Stocks In The Lodging Industry With The Highest ROI</a></bzrelatedlink>
<h3>
	Vanguard Mid-Cap</h3>

	The Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>) follows 369 mid-cap companies, which are characterized by having a market cap of between $2 and $10 billion. The ETF is distributed across 10 industries, with <a href="http://www.benzinga.com/topic/financials">financials</a> and <a href="http://www.benzinga.com/topic/industrials">industrials</a> making up 34 percent of the portfolio.

	The top individual holdings include:
<ul>
<li>
		Vertex Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="/stock/vrtx#NASDAQ">VRTX</a>) at 0.8 percent</li>
<li>
		Health Care REIT, Inc. (NYSE: <a class="ticker" href="/stock/hcn#NYSE">HCN</a>) making up 0.7 percent</li>
<li>
		Avago Technologies Ltd (NASDAQ: <a class="ticker" href="/stock/avgo#NASDAQ">AVGO</a>) coming in at 0.7 percent as well</li>
</ul>

	VO is up 11.5 percent year-to-date and 5 percent over the last six months. It has a low expense ratio of 0.09 percent.
<h3>
	iShares Russell Mid-Cap</h3>

	The iShares Russell Midcap Index Fund (NYSE: <a class="ticker" href="/stock/iwr#NYSE">IWR</a>) is made up of 841 mid-cap stocks across 11 sectors with, financials and consumer discretionary making up 38 percent.

	The top holdings include:
<ul>
<li>
		The Kroger Co.&nbsp;(NYSE: <a class="ticker" href="/stock/kr#NYSE">KR</a>) with a 0.48 percent holding</li>
<li>
		Applied Materials, Inc. (NASDAQ: <a class="ticker" href="/stock/amat#NASDAQ">AMAT</a>) at 0.46 percent</li>
<li>
		Aon Plc (NYSE: <a class="ticker" href="/stock/aon#NYSE">AON</a>) at 0.45 percent</li>
</ul>

	IWR is up 9.7 percent year-to-date and 3 percent over the last six months. The mid-cap ETF has an expense ratio of 0.20 percent.
<h3>
	RevenueShares Mid Cap</h3>

	The RevenueShares Mid Cap Fund (ETF) (NYSE: <a class="ticker" href="/stock/rwk#NYSE">RWK</a>) consists of 400 publicly traded companies that are classified as being mid-cap stocks. The holdings are distributed across 10 sectors with consumer cyclical and consumer non-cyclical accounting for 43 percent of the ETF.

	The top individual holdings include:
<ul>
<li>
		SPDR S&amp;P MidCap 400 ETF (NYSE: <a class="ticker" href="/stock/mdy#NYSE">MDY</a>) at 3.3 percent</li>
<li>
		Ingram Micro Inc (NYSE: <a class="ticker" href="/stock/im#NYSE">IM</a>) with a 3.2 percent holding</li>
<li>
		World Fuel Services Corp (NYSE: <a class="ticker" href="/stock/int#NYSE">INT</a>) coming in at 2.9 percent</li>
</ul>

	RWK is up 5.8 percent year-to-date and up 0.14 percent over the last six months. The ETF has an expense ratio of 0.54 percent.

	It is important to note that even though the mid-cap stocks have outperformed their smaller counterparts in 2014, there is no guarantee next year will bring the same results. While recognizing the transition between the different asset classes is important to outperforming the overall market, it is also important to have access to a broad range of asset classes to minimize risk and increase diversity.

AMAT

AVGO

VRTX

Don't Overlook Mid-Cap Stocks

The market narrative this year has focused on the outperformance of large-cap stocks and underperformance of small-cap stocks. This trend has been persistently dominant as investors have sought the safety of larger companies with strong balance sheets and low volatility characteristics.

	One area that has been largely overlooked in this saga is the performance and price action of mid-cap stocks in 2014. There are currently 49 ETFs that track some aspect of the mid-sized capitalization market with varying focuses on growth, value, blend or fundamental indexes.

	The SPDR S&amp;P Mid Cap 400 ETF (NYSE: <a class="ticker" href="/stock/mdy#NYSE">MDY</a>) covers approximately 7 percent of the total U.S. equity market, which encompasses companies with $1.5 to $4.5 billion in market capitalization.

	<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/etfs/specialty-etfs/14/09/4870232/deutsche-awm-celebrates-3-year-anniversary-of-currency-hedged-etfs">Deutsche AWM Celebrates 3-Year Anniversary Of Currency Hedged ETFs</a></bzrelatedlink>

	MDY contains 400 holdings with overweight exposure to financials, technology and industrial sectors. This ETF has more than $14 billion in total assets and charges an expense ratio of 0.25 percent.

	So far this year, MDY has gained 2.4 percent after hitting a high of as much as 8 percent at the end of August. The recent sell-off and return of volatility has prompted investors to reduce exposure in smaller and mid-sized companies to mitigate downside risk.

	MDY is now rapidly approaching its 200-day moving average, which it hasn&#39;t pierced in nearly two years.
<div id="preview-wrapper">
<div id="file-preview">
		<a href="https://www.benzinga.com/imce?app=nomatter%7Cimceload%40imceInline.load#" title=""><img alt="mdy.png" height="284" src="https://www.benzinga.com/files/u79448/mdy.png" width="460" /></a></div>
</div>

	A significant break below this long-term trend line may prompt additional defensive repositioning away from MDY and similar mid-cap indexes. A top competitor in this space is the iShares Core S&amp;P Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/ijh#NYSE">IJH</a>), which tracks the same 400 underlying stocks with a moderately lower expense ratio of 0.14 percent.

	Investors seeking an alternative option may want to consider the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>), which tracks the CRSP U.S. Mid Cap Index. VO has gained 6.6 percent this year and bested many competitors as a result of its varying sector and company exposure.

	As September volatility continues to work its way through the markets, keep an eye on these mid-cap ETFs for clues to stabilization or further downside risk.

3 Mid-Cap ETFs Face Important Test Of Support

Not quite as familiar as large-caps and often viewed as less sexy than small-caps, mid-cap stocks still offer plenty of opportunity.

	The proof is in the proverbial pudding.

	The SPDR S&amp;P 500 (NYSE: <a class="ticker" href="/stock/spy#NYSE">SPY</a>) is up 19.5 percent year-to-date, but that lags the returns offered by the Vanguard Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/vo#NYSE">VO</a>), the iShares Core Mid-Cap ETF (NYSE: <a class="ticker" href="/stock/ijh#NYSE">IJH</a>) and the SPDR S&amp;P MidCap 400 ETF (NYSE: <a class="ticker" href="/stock/mdy#NYSE">MDY</a>).

	Those three funds are among the dominant names in mid-cap ETFs, but they are far from the only products in this cap genre worth considering. Just as many mid-cap stocks go overlooked, the same can be said of some mid-cap ETFs that have been solid performers this year.

	Related: <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/07/3757504/mid-cap-etfs-your-broker-forgot-to-mention">Mid-Cap ETFs Your Broker Forgot to Mention</a>.

	PowerShares S&amp;P MidCap Low Volatility Portfolio (NYSE: <a class="ticker" href="/stock/xmlv#NYSE">XMLV</a>) 
	Conservative investors have embraced low volatility large-cap ETFs in a big way, helping make the PowerShares S&amp;P 500 Low Volatility Portfolio (NYSE: <a class="ticker" href="/stock/splv#NYSE">SPLV</a>) <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/04/3543255/king-of-low-vol-etfs-tops-5b-in-aum">one of the most successful ETFs</a> of any stripe to debut over the past two years.

	SPLV has small- and mid-cap cousins that came to market in February and the mid-cap play is the PowerShares S&amp;P MidCap Low Volatility Portfolio. XMLV operates in similar fashion to SPLV in that the mid-cap fund's holdings are culled from the 20 percent of an index's constituency with the lowest trailing 12-month volatility. XMLV's 80 holdings come by way of the S&amp;P MidCap 400 Index.

	The new mid-cap offering devotes nearly 77 percent of its combined weight to financial services and utilities names. Investors should also note small-cap growth and value names comprise a quarter of the fund's weight, <a href="http://www.invescopowershares.com/products/overview.aspx?ticker=XMLV">according to PowerShares data</a>. XMLV has annual fees of 0.25 percent and is up nearly 10 percent year-to-date.

	WisdomTree International MidCap Dividend Fund (NYSE: <a class="ticker" href="/stock/dim#NYSE">DIM</a>) 
	The WisdomTree International MidCap Dividend Fund can help investors kill three birds with one stone: Mid-cap and international exposure with a dividend kicker. Given the current market environment with U.S. stocks looking significantly more attractive than most other major developed markets, investors need to evaluate the pros and cons of this ETF.

	DIM does have a 3.1 percent 30-day SEC yield and Japan and is 19 percent of the fund's country weight. However, DIM is not a currency hedged ETF, leaving it vulnerable to a rising yen. The U.K., the next best developed dividend market <a href="http://www.benzinga.com/trading-ideas/long-ideas/13/07/3771457/royal-dividends-u-k-etfs-may-have-dividend-allure">in dollar terms after the U.S., is DIM's second-largest country weight at 15.6 percent.</a>

	Overall, nearly half of the 21 countries DIM offers exposure are eurozone members. That levers the ETF to a possible rebound in that region, but also the possibility of further economic retrenchment. Annual fee: 0.58 percent.

	iShares Russell Mid-Cap Value ETF (NYSE: <a class="ticker" href="/stock/iws#NYSE">IWS</a>) 
	The iShares Russell Mid-Cap Value ETF is by no means a small ETF. Nearly $5.2 billion in assets under management affirms as much, but IWS is not the most talked about ETF. The most recent coverage of IWS includes one analyst calling the ETF "dangerous." If year-to-date returns of over 18 percent are "dangerous" then what are one-year returns of 30.5 percent? Sort of safe?

	Fact: IWS is favorably exposed to two of this year's top-performing sectors. Financial services combine for 33.7 percent of the ETF's weight. Combine producer durables and discretionary names and consumer discretionary represents another 21 percent.

	For more on ETFs, <a href="http://www.benzinga.com/etfs">click </a><a href="http://www.benzinga.com/etfs">here</a>.

Specialty ETFs

New ETFs

WisdomTree Trust International MidCap Dividend

iShares Trust Russell MidCap Value Index Fund

PowerShares S&P 500 Low Volatility Portfolio

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Vanguard Mid-Cap ETF

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Ultime notizie per Vanguard Mid-Cap ETF (ARCA:VO)

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