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Launched on 04/19/2011, the First Trust Small Cap Growth AlphaDEX ETF (FYC) is a smart beta exchange traded fund offering broad exposure to the Style Box - Small Cap Growth category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.
Fund Sponsor & Index
The fund is sponsored by First Trust Advisors. It has amassed assets over $328.59 million, making it one of the average sized ETFs in the Style Box - Small Cap Growth. Before fees and expenses, this particular fund seeks to match the performance of the Nasdaq AlphaDEX Small Cap Growth Index.
The NASDAQ AlphaDEX Small Cap Growth Index is an enhanced which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 700 Small Cap Growth Index.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.70% for FYC, making it one of the most expensive products in the space.
It's 12-month trailing dividend yield comes in at 0.41%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For FYC, it has heaviest allocation in the Healthcare sector --about 22.90% of the portfolio --while Industrials and Information Technology round out the top three.
When you look at individual holdings, Adma Biologics, Inc. (ADMA) accounts for about 0.92% of the fund's total assets, followed by Mirum Pharmaceuticals, Inc. (MIRM) and Zeta Global Holdings Corp. (class A) (ZETA).
Its top 10 holdings account for approximately 7.9% of FYC's total assets under management.
Performance and Risk
So far this year, FYC has added roughly 16.21%, and was up about 25.24% in the last one year (as of 09/17/2024). During this past 52-week period, the fund has traded between $51.50 and $73.05.
The fund has a beta of 1.18 and standard deviation of 24.03% for the trailing three-year period, which makes FYC a high risk choice in this particular space. With about 265 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Small Cap Growth AlphaDEX ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell 2000 Growth ETF (IWO) tracks Russell 2000 Growth Index and the Vanguard Small-Cap Growth ETF (VBK) tracks CRSP U.S. Small Cap Growth Index. IShares Russell 2000 Growth ETF has $11.60 billion in assets, Vanguard Small-Cap Growth ETF has $17.61 billion. IWO has an expense ratio of 0.24% and VBK charges 0.07%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Growth.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Assembly Biosciences (ASMB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Assembly Biosciences is a member of the Medical sector. This group includes 1019 individual stocks and currently holds a Zacks Sector Rank of #5. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Assembly Biosciences is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ASMB's full-year earnings has moved 41.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ASMB has gained about 83.5% so far this year. Meanwhile, the Medical sector has returned an average of 11.6% on a year-to-date basis. This means that Assembly Biosciences is outperforming the sector as a whole this year.
Another stock in the Medical sector, Adma Biologics (ADMA), has outperformed the sector so far this year. The stock's year-to-date return is 300.2%.
In Adma Biologics' case, the consensus EPS estimate for the current year increased 40% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Assembly Biosciences is a member of the Medical - Generic Drugs industry, which includes 11 individual companies and currently sits at #40 in the Zacks Industry Rank. On average, stocks in this group have gained 19.2% this year, meaning that ASMB is performing better in terms of year-to-date returns.
In contrast, Adma Biologics falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 497 stocks and is ranked #83. Since the beginning of the year, the industry has moved +2.2%.
Assembly Biosciences and Adma Biologics could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
Zacks Investment Research
When it comes to short-term investing or trading, they say "the trend is your friend." And there's no denying that this is the most profitable strategy. But making sure of the sustainability of a trend to profit from it is easier said than done.
The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock alive.
Investors looking to make a profit from stocks that are currently on the move may find our "Recent Price Strength" screen pretty useful. This predefined screen comes handy in spotting stocks that are on an uptrend backed by strength in their fundamentals, and trading in the upper portion of their 52-week high-low range, which is usually an indicator of bullishness.
There are several stocks that passed through the screen and
Adma Biologics
(ADMA) is one of them. Here are the key reasons why this stock is a solid choice for "trend" investing.
A solid price increase over a period of 12 weeks reflects investors' continued willingness to pay more for the potential upside in a stock. ADMA is quite a good fit in this regard, gaining 64.8% over this period.
However, it's not enough to look at the price change for around three months, as it doesn't reflect any trend reversal that might have happened in a shorter time frame. It's important for a potential winner to maintain the price trend. A price increase of 0.3% over the past four weeks ensures that the trend is still in place for the stock of this infectious disease drug developer.
Moreover, ADMA is currently trading at 89.6% of its 52-week High-Low Range, hinting that it can be on the verge of a breakout.
Looking at the fundamentals, the stock currently carries a Zacks Rank #2 (Buy), which means it is in the top 20% of more than the 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises -- the key factors that impact a stock's near-term price movements.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here
Another factor that confirms the company's fundamental strength is its Average Broker Recommendation of #1 (Strong Buy). This indicates that the brokerage community is highly optimistic about the stock's near-term price performance.
So, the price trend in ADMA may not reverse anytime soon.
In addition to ADMA, there are several other stocks that currently pass through our "Recent Price Strength" screen. You may consider investing in them and start looking for the newest stocks that fit these criteria.
This is not the only screen that could help you find your next winning stock pick. Based on your personal investing style, you may choose from over 45 Zacks Premium Screens that are strategically created to beat the market.
However, keep in mind that the key to a successful stock-picking strategy is to ensure that it produced profitable results in the past. You could easily do that with the help of the Zacks Research Wizard. In addition to allowing you to backtest the effectiveness of your strategy, the program comes loaded with some of our most successful stock-picking strategies.
Click here to sign up for a free trial to the Research Wizard today.
Zacks Investment Research
Launched on 04/19/2011, the First Trust Small Cap Growth AlphaDEX ETF (FYC) is a passively managed exchange traded fund designed to provide a broad exposure to the Small Cap Growth segment of the US equity market.
The fund is sponsored by First Trust Advisors. It has amassed assets over $314.36 million, making it one of the average sized ETFs attempting to match the Small Cap Growth segment of the US equity market.
Why Small Cap Growth
With more potential comes more risk, and small cap companies, with market capitalization below $2 billion, epitomizes this way of thinking.
Qualities of growth stocks include faster growth rates compared to the broader market, as well as higher valuations and higher than average sales and earnings growth rates. Additionally, growth stocks have a greater level of risk associated with them. They are likely to outperform value stocks in strong bull markets but over the longer-term, value stocks have delivered better returns than growth stocks in almost all markets.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.70%, making it one of the most expensive products in the space.
It has a 12-month trailing dividend yield of 0.43%.
Sector Exposure and Top Holdings
ETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund'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 Healthcare sector--about 22.30% of the portfolio. Industrials and Information Technology round out the top three.
Looking at individual holdings, Adma Biologics, Inc. (ADMA) accounts for about 0.92% of total assets, followed by Mirum Pharmaceuticals, Inc. (MIRM) and Zeta Global Holdings Corp. (class A) (ZETA).
The top 10 holdings account for about 7.9% of total assets under management.
Performance and Risk
FYC seeks to match the performance of the Nasdaq AlphaDEX Small Cap Growth Index before fees and expenses. The NASDAQ AlphaDEX Small Cap Growth Index is an enhanced which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 700 Small Cap Growth Index.
The ETF has added roughly 11.05% so far this year and it's up approximately 18.52% in the last one year (as of 09/12/2024). In the past 52-week period, it has traded between $51.50 and $72.61.
The ETF has a beta of 1.18 and standard deviation of 23.97% for the trailing three-year period, making it a high risk choice in the space. With about 265 holdings, it effectively diversifies company-specific risk.
Alternatives
First Trust Small Cap Growth AlphaDEX 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, FYC is a good option for those seeking exposure to the Style Box - Small Cap Growth area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 2000 Growth ETF (IWO) and the Vanguard Small-Cap Growth ETF (VBK) track a similar index. While iShares Russell 2000 Growth ETF has $11.17 billion in assets, Vanguard Small-Cap Growth ETF has $17.01 billion. IWO has an expense ratio of 0.24% and VBK charges 0.07%.
Bottom-Line
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.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Zacks Investment Research
Reporter Name | Guiheen Lawrence P. |
Relationship | Director |
Type | Sell |
Amount | $166,188 |
SEC Filing | Form 4 |
Lawrence P. Guiheen, a Director at ADMA Biologics, sold 9,000 shares of Common Stock on September 9, 2024, at a weighted average price of $18.4654, totaling $166,188. Following the transaction, Guiheen directly owns 153,941 shares and indirectly owns 1,000 shares through the Guiheen Trust. The sale price ranged from $18.465 to $18.47.
SEC Filing: ADMA BIOLOGICS, INC. [ ADMA ] - Form 4 - Sep. 11, 2024
With its inclusion in the S&P 500 index, Palantir Technologies Inc. is entering a new phase that will likely attract a new wave of investors and long-term capital, according to Bank of America.
On Tuesday, the investment bank reiterated a Buy rating and raised the price target for the data analytics and artificial intelligence firm from $30 to $50, as “S&P 500 inclusion provides a watershed moment” for institutional investors.
“We think that becoming a member of the S&P 500 could be highly beneficial to PLTR’s stock volatility. We think that the inclusion would attract more institutional investors, both passive and active,” wrote Mariana Perez Mora, an analyst at Bank of America.
Strong Financials, Strategic AI Leadership
Palantir has become a key player in artificial intelligence, leveraging its deep ties with both government and commercial sectors. Bank of America's revised $50 price target reflects a new valuation approach, which rolls estimates forward to 2026.
This leads to a projected enterprise value of $116 billion, propelling Palantir closer to the top 100 companies in the S&P 500 (from its current ranking in the 165th range).
Mora explained that the elevated multiple derived from the updated price target is justified by Palantir’s position in national security, its leadership in AI platforms, and its opportunistic partnerships.
She also stressed the company’s strong balance sheet, particularly its $3.9 billion net cash position, as a sign of financial strength that sets Palantir apart from competitors.
A Misunderstood Giant in AI
Bank of America draws attention to a significant market underestimation of Palantir's future potential, likening it to AT&T Inc.‘s early misjudgment of the mobile phone market in the 1980s.
“In 1980, AT&T hired a consultancy company to estimate the market size for cell phones by 2000. The study suggested there would only be 900k users. The actual number of mobile subscriptions in 2000 was more than 100 million,” the report stated.
The analogy underscores how early forecasts often miss the mark on disruptive technologies. Similarly, Palantir's advanced AI capabilities, particularly its Foundry platform, are seen as a vastly underappreciated asset.
Foundry is designed to make data not only accessible but actionable, transforming decision-making processes across various industries.
Bank of America's bullish outlook on Palantir is also supported by its expanding list of partnerships. The company is working closely with major corporations and government agencies, including PwC, Jacobs, Accenture, and Airbus, to broaden its customer base.
“We see Palantir as a beneficiary of rapidly growing demand for Artificial Intelligence (AI)-platforms in both commercial and government end-markets,” the report stated.
Shares of Palantir traded 0.4% lower by 11:15 a.m. ET on Tuesday, after rallying as much as 14.1% a day earlier.
Within the software-related industry, as tracked by the iShares Expanded Tech-Software Sector ETF , Palantir ranks third in year-to-date returns, rising 100%, behind Zeta Global Holdings Corp. , which skyrocketed 187%, and AppLovin Corp. , which surged 116%.
Read Next:
Photo: World Economic Forum on Flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After reaching an important support level, Adma Biologics (ADMA) could be a good stock pick from a technical perspective. ADMA surpassed resistance at the 20-day moving average, suggesting a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, ADMA has gained 11.7%. The company is currently ranked a Zacks Rank #2 (Buy), another strong indication the stock could move even higher.
Once investors consider ADMA's positive earnings estimate revisions, the bullish case only solidifies. No earnings estimate has been lowered in the past two months, compared to 3 raised estimates, for the current fiscal year, and the consensus estimate has increased as well.
Investors should think about putting ADMA on their watchlist given the ultra-important technical indicator and positive move in earnings estimate revisions.
Zacks Investment Research
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