MUTUAL FUND Investor Guide THE ETF Investor Guide · 2017. 2. 22. · advanced 3.56 percent over...

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Market Perspective: Ongoing Optimism Continues to Boost Stocks Major indexes broke out of trading ranges over the past month to new all-time highs across the board. The Nasdaq has advanced more than 8 percent year-to-date. Sector rotation drove last week’s gains as financials made a clean break-out from a tight two-month trading range. The consumer staples and healthcare sectors pre-sented investors with exceptional bargains. The S&P 500 consumer staples sector rallied 5 per-cent, while healthcare gained nearly 4 percent. Energy and rate-sensitive utilities underper-formed on a relative basis; every other sector enjoyed gains of 3 or more percent. The S&P 500 technology sector gained 4.5 percent. Subsector funds such as iShares North American Software (IGV) fared even better, with IGV up 6.9 percent. SPDR Barclays Con-vertible Securities (CWB) is up 6 percent to start the year thanks to its tech exposure. Tech-nology stocks have benefited from relative un-derperformance in 2016, and strong earnings reports have provided these funds a boost. Per FactSet Research, 87 percent of technology companies have beaten earnings estimates thus far, and 68 percent of firms have beaten reve-nue estimates. Apple (AAPL) earned $3.36 versus a $3.22 estimate, Facebook (FB) earned $1.41 versus $1.31, and Microsoft (MSFT) reported $0.83 versus an expected $0.79. These earnings beats followed strong financial sector performance. JPMorgan Chase (JPM) earned $1.71 versus $1.44 estimated, and Bank of America (BAC) reported $0.40 against $0.38 estimated. Gold-man Sachs (GS) earnings climbed from $1.27 during the fourth quarter of 2016 to $5.08. The S&P 500’s earnings growth rate as of February 10 was 5.0 percent, up from a 3.10 percent ini-tial estimate. With more than a quarter of the index left to report, we expect the final growth rate should meet or exceed these estimates.

S&P 500 fourth-quarter revenue is also cur-rently at 5.0 percent, marking the fastest quar-terly growth since the start of 2012. Revenue growth can quickly translate into profit and dividend growth, especially following a period of slow growth. Analysts currently forecast 10.8 percent earnings growth and 7.6 percent revenue growth for the first quarter of 2017. The nine-year-old Gallup U.S. Confidence Index hit an all-time high of 11 in January. Consumer confidence also hit a 12-year high in January. A YPO Global Pulse survey reflects increased fourth-quarter CEO confidence, the largest increase in five years. The Atlanta Federal Reserve’s GDPNow model currently forecasts 2.4 percent growth in the first quarter, slightly above economists’ con-sensus. The bump in growth estimates follows an uptick in single-family residential construc-tion, doubling the Atlanta Fed’s first-quarter residential investment growth estimate from 3.9 to 7.8 percent. Housing is a microcosm of the broader econ-omy that shows the power of investment-led growth. While consumption ends immediately after the money is spent, investment contin-ues generating growth quarter after quarter. After home construction is completed, the new home needs flooring, furniture, and appliances. It takes time for investment to work its way through the economy, but if businesses and consumers keep investing at higher rates, GDP growth will follow.Healthcare has outperformed to start the year. After a two-year consolidation phase, the sec-tor has become a relative value in the market. While the pending repeal of the Affordable Care Act has increased uncertainty, healthcare providers and medical device manufacturers are both on the verge of new 52-week highs. Healthcare companies have beaten earnings es-timates at a rate of 76 percent midway through earnings season. The pharmaceutical sector has rallied 8 percent in February alone, with

mutualfundinvestorguide.com

MUTUAL FUND Investor GuideFEBRUARY 2017

Matthew D. SauerFounder & Chief Investment Officer

Matthew Sauer is the Founder and Chief Investment Officer of the Mutual Fund Investor Guide family of newsletters. Each month he analyzes and provides buy, sell and hold recommendations for hundreds of mutual funds and ETFs in three newsletters: The Investor Guide to Fidelity Funds, The ETF Investor Guide and The Investor Guide to Vanguard Funds.

Matthew is also the Founder and Chief Investment Officer of MDS Wealth Advisors, a Registered Investment Advisor that provides personalized investment solutions.

In ThIs Issue 1 Perspective

2 Portfolio Updates

3 Model Portfolios

4 Data & Rankings

15 A Comparison of Consumer Discretionary ETFs

THE ETF Investor Guide

(continued on page 2)

2 FeBRuARY 2017 | PhOne: (888) 252-5372

The eTF Investor Guide

Model Portfolio UpdatesThe Nasdaq rose 4.40 percent over the past month and is up 8.11 percent year-to-date. The Dow Jones Industrial Av-erage has advanced 3.65 percent on the month, 4.30 percent year-to-date. The S&P 500 Index has gained 3.28 percent on the month, 4.93 percent on the year. The Russell 2000 Index has rallied 2.34 percent over the past month, 3.47 per-cent year-to-date. And the MSCI EAFE Index has climbed 1.23 percent on the month, 3.86 percent on the year. We made one change to the Model Portfolios this month. In the ETF Aggressive Sector Portfolio, we sold First Trust Natural Gas (FCG) and purchased Vanguard Consumer Dis-cretionary (VCR).The ETF Aggressive Sector Portfolio rallied 3.58 percent over the past month. It is up 5.62 percent this year. iShares North American Software (IGV) led the portfolio with a 6.87 percent gain. The fund is up 12.65 percent this year. Technology Select Sector SPDR (XLK) advanced 4.49 percent, and Industrial Select SPDR (XLI) rose 4.02 percent.

The ETF Straight Growth Portfolio advanced 3.25 percent last month, up 4.51 percent year-to-date. Vanguard Dividend Appreciation (VIG) led the portfolio with a 3.77 percent rally. SPDR Barclays Convertible Securities (CWB) gained 3.36 percent due to its technology weighting. Vanguard Value (VTV) finished with a 2.81 percent gain. The ETF Balanced Growth Portfolio increased 1.62 percent last month, up 2.60 percent year-to-date. Vanguard Dividend Appreciation (VIG) and SPDR Barclays Convertible Securities (CWB) also led this portfolio’s performance, while WisdomTree MidCap Dividend (DON) increased 2.30 percent. The ETF Conservative Income Port-folio increased 1.35 percent over the past month. It has gained 2.01 percent this year. Vanguard Dividend Apprecia-tion (VIG) and SPDR Barclays Convert-ible Securities (CWB) led this portfolio as well. Falling credit risk sparked a 0.93 percent rally in iShares iBoxx High Yield Corporate Bond (HYG). SPDR Barclays Short-Term Corporate Bond (SCPB) benefited from falling interest rates and gained 0.17 percent.

The ETF Global Portfolio climbed 1.29 percent on the month and is up 2.64 per-cent this year. iShares S&P Global 100 (IOO) gained 2.60 percent, while Wis-domTree International Hedged Quality Dividend (IHDG) returned a solid 2.09 percent. The ETF Aggressive Value Portfolio advanced 3.56 percent over the past month. It has gained 6.27 percent year-to-date. SPDR S&P Pharma (XPH) climbed 7.18 percent, while SPDR S&P Biotech (XBI) rallied 6.32 percent, reaching a year-to-date gain of 16.76 percent. Vanguard Information Technol-ogy (VGT) increased 5.42 percent, and SPDR S&P Regional Banking (KRE) rallied 3.83 percent. The ETF Absolute Return/Down Mar-ket Portfolio increased 0.61 percent last month and is up 1.39 percent in 2017. iShares Comex Gold (IAU) led the port-folio with an increase of 2.77 percent. Schwab U.S. Dividend (SCHD) gained 1.93 percent and iShares U.S. Preferred (PFF) rose 1.66 percent.

Market Perspective: Ongoing Optimism Continues to Boost Stocks (continued)

biotechnology shares gaining similarly. SPDR S&P Biotech (XBI) has rallied nearly 17 percent, while Bristol-Myers Squibb (BMY) shares advanced follow-ing potential buyout rumors. In January, China’s exports surprised to the upside, growing 8 percent over last year. Copper prices are up more than 10 percent this year. Equities tied to a global economic recovery, such as min-ing, steel, coal, and shipping, all point to faster growth. Other resource-exporting markets such as Brazil, India, and Rus-sia have exhibited signs of recovery and are gaining momentum, with several ap-proaching critical breakout levels. Energy has struggled as oil prices re-main flat. SPDR Energy (XLE) fell 2.6 percent to start the year. Hedge fund and

institutional money has kept the market above $50.00 since December. Fore-casts for global demand are modest. Meanwhile, the International Energy Agency predicts U.S. shale output could rapidly increase in 2017 and 2018. The financial sector has continued its surge since November 2016. SPDR S&P Regional Banking (KRE) gained 5.5 percent for the week ending Feb-ruary 15, while SPDR Financial (XLF) increased 4.8 percent. The 10-year Treasury yield hit 2.5 percent, while the 5-year Treasury yield hit a new 2017 high of 2.0 percent. Consumer price inflation in January increased a mod-est 0.3 percent, within the Fed’s target range for inflation. This number opens the door for rate hikes, but isn’t high enough to accelerate the Fed’s timeline.

Headline producer price inflation, how-ever, advanced 0.6 percent in January, doubling forecasts. Over the coming months, we believe financials will con-tinue to outperform.PowerShares Senior Loan (BKLN) slipped 0.13 percent due to the overall pullback in rates this year, but losses have been halved in anticipation of the next Fed move. iShares iBoxx Invest-ment Grade Corporate Bond (LQD) fell 0.30 percent. In contrast, the short-dura-tion SPDR Barclays Short-Term Corpo-rate Bond (SCPB) gained 0.17 percent. High-yield funds also did well as credit risk declined. iShares iBoxx High Yield Corporate Bond (HYG) rallied 0.93 per-cent, and First Trust Tactical High Yield (HYLS) advanced 0.48 percent.

www.MutualFundInvestorGuide.com | FeBRuARY 2017 3

ETF AggrEssivE sEcTor PorTFolioTicker Name Price shares Allocation 1-Month YTD valueKRE SPDR S&P Regional Bank 57.95 491.63 13.52% 3.83% 4.28% $28,489.98VCR Vanguard Consumer Discr 136.67 166.35 10.79% N/A N/A $22,734.47IGV iShares NA Software 122.62 101.40 5.90% 6.87% 12.65% $12,434.02FHLC Fidelity MSCI Healthcare 35.38 1085.86 18.23% 3.94% 7.57% $38,417.60XLI Industrial Select SPDR 65.76 451.17 14.08% 4.02% 5.69% $29,669.03IYF iShares US Financials 106.31 411.88 20.78% 3.67% 4.78% $43,786.45XLK Technology Select Sect SPDR 51.89 677.80 16.69% 4.49% 7.30% $35,171.22

TOTAL 100.00% 3.58% 5.62% $210,702.77ETF sTrAighT growTh PorTFolioTicker Name Price shares Allocation 1-Month YTD valueUSMV iShares US Minimum Vol 46.87 1019.21 26.47% 2.92% 3.65% $47,770.19VIG Vanguard Div Appreciation 89.20 707.61 34.98% 3.77% 4.72% $63,119.08VTV Vanguard Value 96.18 184.76 9.85% 2.81% 3.41% $17,770.00RFG Rydex S&P MidCap 400 Pure 135.28 228.44 17.12% 2.87% 4.99% $30,902.75CWB SPDR Barc Convertible Secs 47.92 436.27 11.58% 3.36% 6.17% $20,906.04

TOTAL 100.00% 3.25% 4.51% $180,468.06

Model Portfolios (Data provided as of 2/15/17)

ETF BAlANcED growTh PorTFolioTicker Name Price shares Allocation 1-Month YTD valueDON WisdomTree MidCap Div 97.91 367.26 22.92% 2.30% 3.82% $35,958.90VIG Vanguard Div Appreciation 89.20 245.14 13.94% 3.77% 4.72% $21,866.10HYG iShares High Yield Bond 87.75 313.08 17.51% 0.93% 1.83% $27,473.12MINT PIMCO Short Maturity 101.47 204.69 13.24% 0.18% 0.21% $20,770.17BKLN PowerShares Senior Loan 23.26 1324.94 19.64% -0.13% -0.13% $30,818.02CWB SPDR Barc Convertible Secs 47.92 417.81 12.76% 3.36% 6.17% $20,021.69

TOTAL 100.00% 1.62% 2.60% $156,907.99

ETF gloBAl PorTFolioTicker Name Price shares Allocation 1-Month YTD valueHYLS First Trust Tactical High Yield 48.83 236.06 8.67% 0.48% 1.67% $11,526.92BNDX Vanguard Intl Bond 53.78 638.42 25.83% -0.38% -0.86% $34,334.10PID PwrShrs Int'l Divid Ach. 15.02 814.22 9.20% 0.27% 4.23% $12,229.61IOO iShares S&P Global 100 80.07 525.87 31.67% 2.60% 4.37% $42,106.15IHDG WTree Intl Hedged Div 27.41 1194.39 24.63% 2.09% 4.02% $32,738.14

TOTAL 100.00% 1.29% 2.64% $132,934.91

ETF ABsoluTE rETurN/DowN MArkET PorTFolioTicker Name Price shares Allocation 1-Month YTD valueBSV Vanguard Short Term Bond 79.51 272.04 23.96% 0.01% 0.20% $21,629.86IAU iShares Comex Gold 11.87 781.32 10.27% 2.77% 7.13% $9,274.25USDU WTree US Dollar Bullish 27.53 617.10 18.82% -1.33% -1.57% $16,988.79MINT PIMCO Short Maturity 101.47 140.31 15.77% 0.18% 0.21% $14,237.42PFF iShares US Preferred 38.55 354.25 15.13% 1.66% 4.12% $13,656.42SCHD Schwab U.S. Dividend 44.35 326.64 16.05% 1.93% 1.93% $14,486.55

TOTAL 100.00% 0.61% 1.39% $90,273.31

ETF coNsErvATivE iNcoME PorTFolioTicker Name Price shares Allocation 1-Month YTD valueHDV iShares Core High Dividend 83.28 262.75 15.14% 1.83% 1.25% $21,881.73HYG iShares High Yield Bond 87.75 386.27 23.45% 0.93% 1.83% $33,895.40VIG Vanguard Div Appreciation 89.20 116.24 7.17% 3.77% 4.72% $10,368.85MINT PIMCO Short Maturity 101.47 260.42 18.28% 0.18% 0.21% $26,425.08SCPB SPDR Barc ST Corp Bond 30.56 948.49 20.05% 0.17% 0.38% $28,985.82CWB SPDR Barc Convertible Secs 47.92 479.77 15.91% 3.36% 6.17% $22,990.47

TOTAL 100.00% 1.35% 2.01% $144,547.35

ETF AggrEssivE vAluE PorTFolioTicker Name Price shares Allocation 1-Month YTD valueIEF iShares 7-10 Yr Treasury 104.49 313.83 25.46% -0.70% -0.16% $32,791.62KRE SPDR S&P Regional Bank 57.95 296.25 13.33% 3.83% 4.28% $17,167.55XPH SPDR Pharma 42.53 312.53 10.32% 7.18% 8.80% $13,292.00VGT Vanguard Info Tech 132.30 245.92 25.26% 5.42% 8.89% $32,535.15HEDJ WTree Europe Hedged 59.37 231.83 10.69% 2.40% 3.43% $13,763.69XBI SPDR Biotech 69.11 278.50 14.94% 6.32% 16.76% $19,247.01

TOTAL 100.00% 3.56% 6.27% $128,797.01

4 FeBRuARY 2017 | PhOne: (888) 252-5372


LArge CAp grOwThFTC First Trust Large Cap Gr AlphaDEX® ETF 52.02 89 Hold 6.08 3.44 6.58 20.92 8.77 13.29 0.97 11.31 0.62IUSG iShares Core US Growth 45.66 95 Buy 6.37 3.64 8.65 27.41 10.34 13.73 1.42 1.06 11.38 0.05IVW iShares S&P 500 Growth 129.48 98 Strong Buy 6.31 3.94 8.79 25.52 10.84 14.27 1.47 1.03 11.18 0.18IWF iShares Russell 1000 Growth 112.09 95 Buy 6.85 4.09 9.28 26.68 10.66 13.87 1.37 1.04 11.19 0.20JKE iShares Morningstar Large-Cap Growth 129.63 93 Hold 7.11 3.71 9.15 23.04 9.73 13.51 0.93 1.10 12.29 0.25MGK Vanguard Mega Cap Growth ETF 93.74 87 Strong Buy 7.61 4.61 10.10 27.45 10.32 14.03 1.51 1.08 11.80 0.07ONEQ Fidelity® Nasdaq Composite Tr Stk ETF 229.24 91 Buy 8.32 4.55 10.40 36.25 12.43 16.14 0.94 1.19 13.32 0.21PWB PowerShares Dynamic Large Cap Growth ETF 33.83 93 Buy 5.94 3.38 7.97 21.83 9.77 15.04 0.49 0.85 9.91 0.57QQEW First Trust NASDAQ-100 Equal Wtd ETF 50.54 92 Buy 9.37 4.90 10.63 35.54 11.26 15.11 1.22 13.87 0.60QQQ PowerShares QQQ ETF 129.28 95 Buy 9.12 4.98 11.58 33.38 14.30 16.96 0.45 1.19 13.87 0.20QQXT First Trust NASDAQ-100 ex-Tech Sect ETF 44.06 88 Hold 9.03 4.33 9.00 23.98 7.85 14.19 1.16 13.70 0.60RPG Guggenheim S&P 500® Pure Growth ETF 88.25 92 Buy 5.60 3.59 6.71 26.24 7.22 14.00 1.04 11.92 0.35SCHG Schwab US Large-Cap Growth 59.92 86 Buy 7.33 4.10 9.36 29.30 10.68 14.14 1.07 1.07 11.52 0.04SPYG SPDR® S&P 500 Growth ETF 111.98 93 Buy 6.31 3.95 8.78 25.63 10.91 14.31 1.50 1.03 11.16 0.15VUG Vanguard Growth ETF 119.65 86 Buy 7.33 4.38 9.57 27.49 9.86 13.64 1.39 1.08 11.77 0.08

LArge CAp BLenDDGRO iShares Core Dividend Growth 30.32 93 Strong Buy 4.91 4.01 7.85 27.95 2.54 0.08DGRW WisdomTree U.S. Quality Div Growth 35.04 91 Buy 5.38 4.07 7.82 27.21 10.98 0.02 1.01 10.80 0.28DSI iShares MSCI KLD 400 Social 86.50 93 Buy 5.00 3.30 7.49 27.44 9.27 13.32 1.49 1.03 10.88 0.50EPS WisdomTree Earnings 500 ETF 81.31 91 Buy 5.24 3.78 9.40 31.73 10.54 13.66 0.02 1.02 10.77 0.28EQWL PowerShares Russell Top 200 Eq Weight 45.80 94 Buy 6.07 4.14 9.83 33.61 10.93 14.61 1.67 1.01 10.68 0.25EXT WisdomTree Total Earnings ETF 83.65 94 Strong Buy 4.87 3.45 9.25 32.75 10.29 13.58 0.02 1.02 10.92 0.28FDRR Fidelity® Dividend ETF for Rising Rates 27.75 83 Hold 4.76 3.74 7.93 0.29FEX First Trust Large Cap Core AlphaDEX® ETF 51.57 93 Buy 5.74 3.93 8.05 33.08 9.42 13.38 1.01 11.02 0.61FNDB Schwab Fundamental US Broad Market 33.75 89 Buy 3.72 2.83 7.49 30.99 10.00 1.97 0.98 10.58 0.32FNDX Schwab Fundamental US Large Company 33.82 85 Buy 3.63 2.75 7.43 29.97 10.02 2.04 0.97 10.41 0.32ITOT iShares Core S&P Total US Stock Mkt 53.98 96 Buy 5.24 3.41 8.42 31.18 10.69 14.17 2.03 1.02 10.75 0.03IVV iShares Core S&P 500 236.34 99 Strong Buy 5.04 3.48 8.28 28.69 10.78 14.18 2.05 1.00 10.46 0.04IWB iShares Russell 1000 130.93 93 Buy 5.20 3.44 8.34 29.73 10.34 14.04 1.91 1.01 10.61 0.15IWL iShares Russell Top 200 53.50 92 Buy 5.04 3.40 8.43 27.78 10.70 14.09 2.03 0.99 10.44 0.15IWV iShares Russell 3000 139.73 89 Buy 5.08 3.37 8.30 30.89 10.12 13.91 1.83 1.03 10.81 0.20IYY iShares Dow Jones US 118.09 96 Buy 5.39 3.52 8.42 30.47 10.24 13.85 1.82 1.02 10.65 0.20JKD iShares Morningstar Large-Cap 139.77 90 Buy 5.35 3.79 8.83 31.29 11.62 15.28 1.90 0.98 10.56 0.20KLD iShares MSCI USA ESG Select 97.08 88 Buy 5.51 3.97 7.37 28.67 9.46 11.96 1.57 1.04 11.05 0.50MGC Vanguard Mega Cap ETF 80.28 89 Strong Buy 5.16 3.53 8.53 28.67 10.72 14.18 2.07 1.00 10.43 0.07MOAT VanEck Mstar Wide Moat ETF 37.46 97 Strong Buy 7.55 4.17 8.55 39.07 11.01 1.62 1.08 13.02 0.49OEF iShares S&P 100 104.19 96 Buy 4.92 3.35 8.44 26.91 10.80 13.71 2.08 1.00 10.58 0.20ONEK SPDR® Russell 1000 ETF 110.50 95 Buy 5.04 3.31 8.36 30.00 10.48 14.04 1.79 1.01 10.57 0.10PBP PowerShares S&P 500 BuyWrite ETF 21.80 80 Buy 2.49 1.16 3.06 15.30 5.64 6.35 1.43 0.50 6.59 0.75PFM PowerShares Dividend Achievers™ ETF 23.59 89 Strong Buy 3.06 2.74 6.24 21.61 9.02 11.50 2.74 0.79 9.03 0.55PKW PowerShares Buyback Achievers ETF 52.48 87 Buy 4.00 2.64 5.82 31.81 8.69 14.42 0.39 1.08 12.01 0.63RSP Guggenheim S&P 500® Equal Weight ETF 90.95 97 Strong Buy 4.97 3.29 7.19 32.42 10.01 14.26 1.04 11.13 0.40SCHB Schwab US Broad Market ETF 56.98 87 Buy 5.17 3.47 8.43 31.01 10.30 14.02 1.88 1.03 10.79 0.03SCHD Schwab US Dividend Equity ETF 44.35 97 Strong Buy 1.79 1.93 5.23 23.99 10.44 13.69 3.05 0.86 9.60 0.07SCHX Schwab US Large-Cap 56.09 88 Buy 5.31 3.53 8.45 29.59 10.53 14.05 1.94 1.01 10.53 0.03SMD SPDR® S&P 1000 ETF 92.00 96 Buy 3.66 2.50 9.23 42.51 8.18 13.24 1.28 1.15 13.85 0.10SPHQ PowerShares S&P 500 High Quality ETF 27.11 97 Strong Buy 4.29 3.32 8.08 23.36 12.57 15.03 2.01 0.82 9.13 0.29SPY SPDR® S&P 500 ETF 234.87 99 Strong Buy 5.10 3.47 8.26 28.58 10.72 14.12 2.01 1.00 10.44 0.10THRK SPDR® Russell 3000 ETF 175.82 92 Buy 5.04 3.35 8.37 30.79 10.37 13.98 1.76 1.02 10.75 0.10VIG Vanguard Dividend Appreciation ETF 89.20 99 Strong Buy 4.72 3.77 6.88 22.67 8.97 11.83 2.14 0.87 9.59 0.09VTI Vanguard Total Stock Market ETF 121.24 87 Buy 5.13 3.43 8.37 31.11 10.25 14.03 1.90 1.02 10.80 0.05VV Vanguard Large-Cap ETF 107.78 89 Buy 5.28 3.58 8.43 29.29 10.51 14.05 1.98 1.01 10.52 0.08XLG Guggenheim Russell Top 50® Mega Cap ETF 165.42 92 Strong Buy 5.00 3.50 8.86 26.00 11.26 13.62 0.99 10.69 0.20

LArge CAp VALueCVY Guggenheim Multi-Asset Income ETF 20.84 74 Buy 3.37 1.76 6.83 30.85 -0.63 4.60 4.95 1.60 11.48 0.84DEF Guggenheim Defensive Equity ETF 40.60 94 Strong Buy 4.37 3.18 6.27 23.85 8.92 10.97 0.63 9.05 0.60DHS WisdomTree Equity Income ETF 68.13 94 Buy 1.41 1.63 5.52 23.49 11.07 13.33 0.04 0.78 9.43 0.38

Data & Rankings (Data provided as of 2/15/17)% return (3 and 5 Years Annualized)

Yield %Beta

3 YearsD

3 YearExpense

ratiosymbol Name NAv rank Advice YTD 1 Month 3 Month 1 Year 3 Year 5 Year


DIA SPDR® Dow Jones Industrial Average ETF 206.38 94 Buy 4.59 3.97 9.65 32.31 11.04 12.66 2.15 0.99 10.71 0.17DLN WisdomTree LargeCap Dividend ETF 82.52 96 Strong Buy 3.42 2.92 7.48 26.86 10.77 13.18 0.03 0.92 9.88 0.28DTD WisdomTree Total Dividend ETF 83.76 93 Strong Buy 3.22 2.56 7.51 28.68 11.00 13.45 0.03 0.92 9.88 0.28DTN WisdomTree Dividend ex-Financials ETF 82.42 91 Strong Buy 2.73 1.88 4.97 25.99 10.12 12.82 0.04 0.87 10.06 0.38EZY WisdomTree LargeCap Value ETF 70.39 88 Strong Buy 4.09 3.36 8.00 26.36 8.53 12.02 0.01 0.98 10.83 0.38FDL First Trust Morningstar Div Leaders ETF 28.60 99 Strong Buy 3.04 2.91 7.37 23.39 13.08 14.42 0.67 8.99 0.45FDLO Fidelity® Low Volatility Factor ETF 26.79 82 Hold 3.64 2.65 6.73 0.29FDVV Fidelity® Core Dividend ETF 26.94 82 Hold 3.02 2.05 6.80 0.29FQAL Fidelity® Quality Factor ETF 27.74 83 Hold 5.60 3.95 8.78 0.29FTA First Trust Large Cap Val AlphaDEX® ETF 49.49 86 Strong Buy 5.59 4.39 8.96 43.04 9.75 13.19 1.03 12.48 0.62FVAL Fidelity® Value Factor ETF 28.80 85 Buy 5.47 3.69 8.76 0.29FVD First Trust Value Line® Dividend ETF 28.78 96 Strong Buy 2.68 2.24 6.38 24.88 13.16 14.52 0.72 8.83 0.70HDV iShares Core High Dividend 83.28 99 Strong Buy 1.25 1.83 5.44 17.71 10.05 12.36 3.72 0.71 9.13 0.08IUSV iShares Core US Value 50.99 87 Buy 3.78 3.07 7.87 34.73 10.10 14.07 2.49 0.99 10.81 0.05IVE iShares S&P 500 Value 105.17 85 Buy 3.74 2.93 7.56 31.57 10.21 13.69 2.47 0.96 10.51 0.18IWD iShares Russell 1000 Value 116.10 81 Hold 3.63 2.92 7.55 32.93 9.90 14.01 2.38 0.98 10.62 0.20IWX iShares Russell Top 200 Value 48.67 88 Buy 3.55 2.59 7.20 30.53 9.63 13.65 2.47 0.97 10.63 0.20JKF iShares Morningstar Large-Cap Value 97.16 79 Buy 3.24 2.90 7.58 29.30 10.03 12.88 3.07 0.89 10.03 0.25MGV Vanguard Mega Cap Value ETF 69.15 91 Strong Buy 3.07 2.52 7.19 29.65 11.06 14.40 2.55 0.92 10.05 0.07PRF PowerShares FTSE RAFI US 1000 ETF 103.43 90 Hold 3.90 2.86 8.11 32.84 10.29 14.45 1.97 0.99 10.78 0.39PWV PowerShares Dynamic Large Cap Value ETF 35.35 97 Strong Buy 4.83 3.76 7.87 32.82 10.58 14.74 2.46 0.95 10.64 0.57RWL Oppenheimer Large Cap Revenue ETF 45.49 92 Buy 4.71 3.06 7.39 28.62 10.08 14.74 0.97 10.40 0.39SCHV Schwab U.S. Large Cap Value 49.78 91 Strong Buy 3.51 2.96 7.59 29.63 10.24 13.78 2.65 0.95 10.21 0.04SDY SPDR® S&P Dividend ETF 87.84 96 Strong Buy 2.66 2.15 5.73 25.80 12.09 14.45 2.26 0.88 10.26 0.35SPYV SPDR® S&P 500 Value ETF 113.93 86 Buy 4.07 3.04 7.83 31.82 10.29 13.66 2.14 0.96 10.47 0.15USMV iShares MSCI USA Minimum Volatility 46.87 94 Strong Buy 3.65 2.92 6.65 18.66 12.08 13.75 2.25 0.69 8.58 0.15VOOV Vanguard S&P 500 Value ETF 101.28 90 Strong Buy 3.78 2.89 7.52 31.44 10.24 13.65 2.27 0.96 10.51 0.15VTV Vanguard Value ETF 96.18 91 Strong Buy 3.41 2.81 7.35 31.08 11.09 14.49 2.48 0.94 10.16 0.08VYM Vanguard High Dividend Yield ETF 77.68 97 Strong Buy 2.52 2.53 6.55 26.02 11.48 14.16 3.09 0.89 9.78 0.09

MiD CAp grOwThDWAQ PowerShares DWA NASDAQ Momentum ETF 84.45 85 Buy 7.90 5.61 8.67 36.24 5.90 11.74 0.24 1.18 15.71 0.60FAD First Trust Multi Cap Gr AlphaDEX® ETF 55.66 86 Buy 6.36 3.13 7.52 27.14 8.14 12.47 1.00 12.00 0.70IJK iShares S&P Mid-Cap 400 Growth 191.42 92 Buy 5.06 3.12 9.38 34.43 9.47 12.89 1.02 0.97 11.81 0.25IWP iShares Russell Mid-Cap Growth 103.59 96 Strong Buy 6.37 3.50 7.61 29.39 7.83 12.31 0.94 1.10 12.33 0.25JKH iShares Morningstar Mid-Cap Growth 172.47 92 Buy 6.44 3.25 6.86 32.28 6.32 11.09 0.37 1.11 12.91 0.30MDYG SPDR® S&P 400 Mid Cap Growth ETF 139.73 86 Buy 5.04 3.16 9.45 34.57 9.58 13.02 1.05 0.97 11.80 0.15PDP PowerShares DWA Momentum ETF 44.75 84 Buy 6.55 4.87 8.19 22.49 6.66 12.15 0.28 0.94 10.97 0.64PXMG PowerShares Fundamental Pure Mid Gr ETF 33.54 80 Buy 8.08 3.11 7.12 35.05 5.32 9.32 0.05 1.13 13.16 0.39RFG Guggenheim S&P MidCap 400® Pure Gr ETF 135.28 89 Strong Buy 4.99 2.87 8.56 26.02 4.08 9.47 1.02 13.23 0.35VOT Vanguard Mid-Cap Growth ETF 112.93 92 Strong Buy 6.87 3.89 7.90 30.76 7.97 11.80 0.79 1.10 12.59 0.08

MiD CAp BLenDCSD Guggenheim Spin-Off ETF 45.83 82 Hold 5.53 3.80 8.16 41.23 2.99 14.02 1.34 15.33 0.65EWMC Guggenheim S&P Mid Cap 400 Eq Wt 59.99 88 Strong Buy 4.18 2.75 9.26 44.10 9.49 13.71 1.13 13.14 0.41EZM WisdomTree MidCap Earnings ETF 35.59 94 Strong Buy 3.99 2.50 8.01 38.05 8.99 13.79 0.02 1.11 13.16 0.38FNX First Trust Mid Cap Core AlphaDEX® ETF 59.16 83 Hold 4.91 3.03 8.98 39.17 6.94 11.62 1.08 13.21 0.63FVL First Trust Value Line® 100 ETF ETF 22.57 89 Buy 4.40 2.40 8.37 31.92 7.30 11.36 1.11 13.65 0.70IJH iShares Core S&P Mid-Cap 172.98 95 Buy 4.62 2.89 9.10 39.64 10.45 13.95 1.57 1.03 12.29 0.07IWR iShares Russell Mid-Cap 188.29 96 Hold 5.27 3.30 7.85 34.20 9.19 13.63 1.58 1.05 11.64 0.20JKG iShares Morningstar Mid-Cap 166.47 98 Strong Buy 5.84 3.79 8.16 32.34 9.76 13.75 1.58 1.08 11.97 0.25MDY SPDR® S&P MidCap 400 ETF 315.58 95 Strong Buy 4.59 2.91 9.08 39.32 10.20 13.73 1.03 12.25 0.25NFO Guggenheim Insider Sentiment ETF 51.95 77 Hold 5.59 4.19 8.34 30.79 5.42 10.54 1.07 12.47 0.67PWC PowerShares Dynamic Market ETF 83.88 91 Buy 3.89 3.69 8.46 32.90 8.52 14.58 1.49 1.03 12.07 0.60SCHM Schwab US Mid-Cap 47.52 87 Buy 5.25 3.17 8.39 35.89 9.44 13.92 1.49 1.07 12.28 0.06TTFS AdvisorShares Wilshire Float Shrink ETF 66.64 99 Strong Buy 4.86 3.00 7.36 35.11 12.10 15.80 1.00 11.49 0.90VO Vanguard Mid-Cap ETF 139.59 86 Buy 6.05 3.88 7.89 33.35 9.45 13.44 1.49 1.06 11.73 0.08VXF Vanguard Extended Market ETF 100.96 80 Buy 5.28 3.15 8.97 42.89 8.10 13.36 1.31 1.15 13.76 0.09

MiD CAp VALueCZA Guggenheim Mid-Cap Core ETF 57.80 97 Buy 6.29 4.39 9.51 38.29 9.91 14.05 0.99 11.01 0.65DON WisdomTree MidCap Dividend ETF 97.91 98 Strong Buy 3.82 2.30 7.63 34.39 12.36 15.49 0.03 0.92 10.67 0.38

LArge CAp VALue (continued)

% return (3 and 5 Years Annualized)Yield %

Beta 3 Year

sD 3 Year

Expense ratiosymbol Name NAv rank Advice YTD 1 Month 3 Month 1 Year 3 Year 5 Year

6 FeBRuARY 2017 | PhOne: (888) 252-5372


DVY iShares Select Dividend 91.05 96 Strong Buy 2.80 2.52 6.36 26.62 12.22 14.47 3.46 0.67 9.22 0.39FAB First Trust Multi Cap Val AlphaDEX® ETF 52.56 84 Strong Buy 4.14 3.07 8.37 44.45 7.92 12.39 1.10 13.92 0.68IJJ iShares S&P Mid-Cap 400 Value 150.98 90 Buy 3.97 2.55 8.53 43.89 10.83 14.61 1.96 1.10 13.47 0.25IVOV Vanguard S&P Mid-Cap 400 Value ETF 114.63 91 Strong Buy 4.02 2.56 8.57 44.14 10.85 14.51 1.59 1.10 13.46 0.20IWS iShares Russell Mid-Cap Value 83.98 93 Buy 4.41 3.16 8.07 38.65 10.36 14.66 2.13 1.00 11.37 0.25JKI iShares Morningstar Mid-Cap Value 150.61 97 Buy 4.25 2.94 7.84 41.17 12.34 16.57 2.33 0.96 11.31 0.30PEY PowerShares High Yld Eq Div Achiev™ ETF 17.11 99 Strong Buy 1.51 1.15 6.57 37.95 17.50 17.15 4.30 0.80 10.34 0.54PXMV PowerShares Fundamental Pure Mid Val ETF 32.20 94 Strong Buy 3.39 1.89 9.41 44.32 11.47 16.39 1.55 1.05 12.65 0.39RPV Guggenheim S&P 500® Pure Value ETF 60.64 93 Strong Buy 5.30 3.82 8.17 41.31 9.58 16.01 1.17 13.56 0.35RWK Oppenheimer Mid Cap Revenue ETF 56.47 96 Buy 4.40 2.53 8.70 41.10 9.62 13.81 1.16 14.03 0.39SPHB PowerShares S&P 500 High Beta ETF 38.63 92 Buy 5.59 3.07 9.60 62.45 9.46 13.34 1.49 18.45 0.25VOE Vanguard Mid-Cap Value ETF 102.38 89 Buy 5.34 3.88 7.80 35.57 10.70 14.89 2.05 1.02 11.24 0.08

SMALL CAp grOwThIJT iShares S&P Small-Cap 600 Growth 154.64 92 Buy 3.09 2.71 8.96 42.76 11.30 15.19 1.11 1.07 14.74 0.25IWO iShares Russell 2000 Growth 161.79 89 Buy 5.10 2.77 7.09 41.95 7.01 12.65 0.83 1.30 16.86 0.25JKK iShares Morningstar Small-Cap Growth 154.13 87 Buy 6.48 2.99 8.34 42.74 6.54 12.01 0.57 1.24 15.86 0.30PXSG PowerShares Fundamental Pure Sm Gr ETF 27.00 87 Hold 3.85 2.04 4.25 39.07 5.09 9.91 1.17 15.12 0.39RZG Guggenheim S&P SmallCap 600® Pure Gr ETF 100.60 93 Buy 4.17 3.80 9.98 46.44 10.01 13.93 1.17 16.48 0.35SLYG SPDR® S&P 600 Small Cap Growth ETF 214.79 93 Buy 3.22 2.71 9.02 42.87 11.34 15.28 0.84 1.07 14.71 0.15VBK Vanguard Small-Cap Growth ETF 141.17 91 Strong Buy 6.03 3.19 7.88 39.25 5.59 11.79 0.90 1.14 14.25 0.08VTWG Vanguard Russell 2000 Growth ETF 117.50 76 Buy 5.30 2.97 7.25 41.99 6.97 12.53 0.59 1.30 16.85 0.20

SMALL CAp BLenDEES WisdomTree SmallCap Earnings ETF 32.75 86 Strong Buy 0.64 0.53 8.79 50.30 9.01 13.39 0.02 1.20 16.66 0.38FDM First Trust Dow Jones Sel MicroCap ETF 43.71 92 Sell -0.88 0.55 9.67 50.90 13.48 16.34 1.00 16.62 0.60FNDA Schwab Fundamental US Small Co 35.22 85 Buy 3.28 2.32 8.74 44.08 9.67 1.22 1.14 14.04 0.32FYX First Trust Small Cap Core AlphaDEX® ETF 55.43 80 Buy 2.95 1.99 7.35 43.56 6.62 11.89 1.16 16.14 0.64IJR iShares Core S&P Small-Cap 70.44 93 Strong Buy 2.44 2.23 8.17 45.44 11.28 15.10 1.42 1.11 14.90 0.07IWC iShares Micro-Cap 86.46 80 Hold 0.72 0.73 7.13 45.15 5.86 13.24 1.46 1.16 17.20 0.60IWM iShares Russell 2000 139.58 85 Buy 3.52 2.44 8.20 46.76 8.51 13.15 1.52 1.20 15.85 0.20JKJ iShares Morningstar Small-Cap 161.84 87 Buy 3.60 2.68 7.92 42.27 9.70 13.45 1.60 1.10 14.08 0.25PRFZ PowerShares FTSE RAFI US 1500 Sm-Mid ETF 118.86 88 Buy 3.10 2.25 8.45 46.34 9.05 13.80 0.94 1.11 14.57 0.39RWJ Oppenheimer Small Cap Revenue ETF 68.36 94 Strong Buy 1.85 1.14 8.55 51.56 10.05 14.86 1.35 17.64 0.39SCHA Schwab US Small-Cap ETF 63.96 90 Strong Buy 4.03 2.53 8.16 44.10 8.40 13.71 1.34 1.18 14.68 0.06SLY SPDR® S&P 600 Small Cap ETF 123.75 89 Buy 2.42 2.23 8.29 45.44 11.20 15.11 1.03 1.11 14.89 0.15VB Vanguard Small-Cap ETF 134.94 81 Strong Buy 4.64 2.77 8.49 41.87 8.56 13.63 1.44 1.14 13.77 0.08

SMALL CAp VALueDES WisdomTree SmallCap Dividend ETF 82.46 92 Strong Buy -0.22 0.47 6.00 44.89 10.91 14.83 0.04 1.06 14.40 0.38IJS iShares S&P Small-Cap 600 Value 142.38 87 Strong Buy 1.69 1.61 7.24 47.80 10.93 14.73 1.46 1.14 15.50 0.25IWN iShares Russell 2000 Value 121.46 95 Buy 2.12 2.07 9.20 51.41 9.84 13.51 2.13 1.11 15.50 0.25JKL iShares Morningstar Small-Cap Value 148.72 83 Buy 4.15 2.81 10.03 50.33 10.30 14.35 2.63 1.16 15.01 0.30PXSV PowerShares Fundamental Pure Sm Val ETF 30.47 91 Hold 0.53 0.64 9.31 54.62 10.46 15.66 0.70 1.17 17.13 0.39PZI PowerShares Zacks Micro Cap ETF 19.39 83 Buy 3.81 2.44 11.68 48.80 7.35 13.61 0.50 1.04 15.15 0.81RFV Guggenheim S&P MidCap 400® Pure Val ETF 64.24 81 Buy 4.08 2.75 8.37 54.78 10.32 14.33 1.31 17.71 0.35RZV Guggenheim S&P SmallCap 600® PureVal ETF 72.62 78 Buy -0.54 -1.15 4.50 53.17 7.08 13.06 1.41 20.47 0.35SLYV SPDR® S&P 600 Small Cap Value ETF 121.22 91 Buy 1.86 1.66 7.34 47.72 10.93 14.82 1.24 1.14 15.47 0.15VBR Vanguard Small-Cap Value ETF 125.28 85 Strong Buy 3.54 2.43 8.88 44.05 11.06 15.04 1.83 1.13 13.84 0.08

ALLOCATiOnAOA iShares Aggressive Allocation 49.31 86 Hold 4.43 2.52 6.81 21.77 5.75 9.13 2.16 1.32 8.80 0.25AOR iShares Growth Allocation 41.87 85 Hold 3.18 1.80 5.02 16.55 4.99 7.33 2.07 1.01 6.79 0.25IYLD iShares Morningstar Multi-Asset Income 24.83 79 Hold 2.32 0.95 4.13 16.00 4.66 5.96 0.85 6.54 0.59

ALTernATiVeCPI IQ Real Return ETF 27.08 63 Sell 0.60 0.29 1.44 3.26 1.21 0.74 0.31 2.24 0.62DIVY Reality Shares DIVS ETF 26.48 79 Hold 4.91 3.32 9.69 17.53 0.89FDMO Fidelity® Momentum Factor ETF 27.04 82 Hold 5.88 4.44 9.06 0.29HDGE AdvisorShares Ranger Equity Bear ETF 8.81 26 Sell -4.76 -2.33 -6.18 -30.47 -11.78 -15.95 -1.21 14.38 1.75MCRO IQ Hedge Macro Tracker ETF 25.11 62 Sell 2.03 1.25 1.42 5.49 -0.59 -0.92 0.50 3.91 1.02PFF iShares US Preferred Stock 38.55 94 Strong Buy 4.12 1.67 4.50 11.55 6.36 6.15 5.62 0.85 4.35 0.47PGF PowerShares Financial Preferred ETF 18.52 97 Strong Buy 4.05 1.49 3.76 10.82 8.05 7.34 6.74 0.95 4.40 0.63PSP PowerShares Global Listed Private Eq ETF 11.91 76 Sell 7.20 4.34 12.26 38.43 4.40 12.22 3.25 1.16 13.98 2.22QAI IQ Hedge Multi-Strategy Tracker ETF 28.93 67 Sell 0.91 0.38 1.30 4.07 0.44 1.65 0.52 3.86 0.96

MiD CAp VALue (continued)


Beta 3 Year

sD 3 Year



VXX iPath® S&P 500 VIX ST Futures™ ETN 17.41 -1 Sell -31.75 -18.83 -41.85 -84.76 -53.01 -60.42 1.00 63.12 0.89VXZ iPath® S&P 500 VIX MT Futures™ ETN 28.30 7 Sell -18.79 -13.53 -20.73 -48.09 -22.54 -33.78 0.40 26.48 0.89WDTI WisdomTree Managed Futures Strategy ETF 40.68 57 Sell -1.88 -0.54 -1.24 -4.93 -0.01 -1.61 0.30 5.84 0.65

COMMODiTieSBAL iPath® DJ-UBS Cotton SubTR ETN 50.22 38 Sell 8.09 5.49 8.58 30.78 -3.38 -2.46 0.50 23.28 0.75CORN Teucrium Corn ETF 20.04 18 Sell 7.11 4.70 6.71 -4.71 -13.98 -12.89 0.50 22.74 2.89COW iPath® DJ-UBS Livestock SubTR ETN 22.10 31 Sell -1.17 -2.00 15.22 -6.63 -8.33 -6.22 0.22 18.58 0.75DBA PowerShares DB Agriculture ETF 20.66 42 Sell 3.46 -0.34 3.04 4.87 -6.82 -6.41 0.49 13.06 0.85DBC PowerShares DB Commodity Tracking ETF 15.91 27 Sell 0.44 0.13 8.23 27.28 -14.86 -11.07 0.96 17.17 0.85DJP iPath® DJ-UBS Cmdty TR ETN 24.67 29 Sell 1.82 0.61 7.78 21.05 -13.62 -10.62 0.87 15.83 0.75GCC GreenHaven Continuous Commodity ETF 20.04 41 Sell 3.67 0.55 3.89 11.24 -9.44 -8.48 0.60 12.11 0.85GSG iShares S&P GSCI Commodity-Indexed Trust 15.53 18 Sell -0.89 -0.51 8.98 22.09 -21.81 -14.81 1.17 21.12 0.75GSP iPath® S&P GSCI® Total Return ETN 14.56 25 Sell -0.68 -0.14 12.00 28.17 -23.81 -16.23 1.33 24.05 0.75JO iPath® DJ-UBS Coffee SubTR ETN 20.65 27 Sell 5.57 -2.96 -13.53 14.53 -9.72 -16.24 0.65 38.96 0.75RJI ELEMENTS Rogers Intl Cmdty TR ETN 5.30 28 Sell 2.12 0.68 8.61 23.83 -14.06 -9.93 0.92 16.52 0.75SGG iPath® DJ-UBS Sugar SubTR ETN 45.47 57 Sell 4.79 -0.46 -3.40 53.36 -4.78 -11.87 0.88 30.37 0.75WEAT Teucrium Wheat ETF 7.58 14 Sell 10.17 5.42 6.46 -14.35 -19.26 -18.14 0.52 28.57 3.34

COMMuniCATiOnSFCOM Fidelity® MSCI Telecommunication Svc ETF 31.28 88 Hold -2.55 -4.03 8.25 19.61 10.49 0.62 12.03 0.08IXP iShares Global Telecom 58.59 69 Sell -0.22 -2.69 6.91 5.72 2.59 6.83 3.61 0.71 10.84 0.47IYZ iShares US Telecommunications 34.01 87 Sell -1.42 -4.36 10.74 29.35 7.48 11.74 2.34 0.80 13.38 0.44PBS PowerShares Dynamic Media ETF 27.76 86 Hold 5.91 2.02 8.18 28.85 3.21 14.57 0.57 1.12 14.79 0.61VOX Vanguard Telecommunication Services ETF 97.55 81 Hold -2.60 -3.82 8.37 20.10 9.33 12.45 2.94 0.63 11.97 0.10

COnSuMer DiSCreTiOnAryBJK VanEck Gaming ETF 35.55 61 Buy 5.06 2.31 4.70 26.44 -8.77 4.57 2.42 1.33 20.25 0.67FDIS Fidelity® MSCI Consumer Discret ETF 34.18 91 Buy 6.26 3.20 8.94 27.85 10.53 0.97 12.53 0.08ITB iShares US Home Construction 29.74 79 Hold 8.22 5.99 10.43 32.29 6.06 16.31 0.32 1.07 19.80 0.44IYC iShares US Consumer Services 159.80 89 Buy 5.81 3.06 8.65 24.27 11.18 17.12 0.90 0.88 11.76 0.44PEJ PowerShares Dynamic Leisure & Entmnt ETF 41.56 87 Hold 3.85 2.07 7.00 31.21 7.77 16.07 0.97 0.84 14.43 0.61PMR PowerShares Dynamic Retail ETF 35.60 69 Sell -0.99 -0.18 -2.77 9.34 4.65 9.58 0.61 0.61 13.19 0.63PSCD PowerShares S&P SmCap Cnsmr Discret ETF 52.04 75 Hold -0.51 0.73 3.03 26.10 5.06 12.07 0.82 15.70 0.29RCD Guggenheim S&P 500® Eq Wt Cons Discr ETF 92.28 86 Sell 4.48 2.74 3.44 21.56 6.91 13.62 0.94 13.19 0.40RXI iShares Globl Consumer Discretionary 94.52 87 Buy 4.84 1.73 7.85 22.37 6.22 12.86 1.40 1.05 12.50 0.47VCR Vanguard Consumer Discretionary ETF 136.67 93 Strong Buy 6.22 3.33 9.03 27.97 10.55 16.52 1.31 0.98 12.56 0.10XHB SPDR® S&P Homebuilders ETF 35.44 68 Hold 4.70 3.14 5.95 24.23 3.48 13.00 0.77 1.07 18.45 0.35XLY Consumer Discret Sel Sect SPDR® ETF 86.77 90 Buy 6.60 3.35 9.05 26.51 11.70 17.15 1.31 0.98 12.62 0.14XRT SPDR® S&P Retail ETF 44.35 73 Sell 0.64 0.77 -1.26 14.33 4.13 10.30 1.01 0.79 14.73 0.35

COnSuMer STApLeSCROP IQ Global Agribusiness Small Cap ETF 33.17 71 Hold 5.50 3.37 9.42 22.40 9.14 8.29 0.74 10.47 0.76FSTA Fidelity® MSCI Consumer Staples ETF 32.50 95 Buy 4.17 4.60 7.24 11.66 11.53 0.53 9.85 0.08FXG First Trust Cnsmr Staples AlphaDEX® ETF 46.59 93 Buy 1.84 1.46 4.78 10.81 11.46 15.71 0.65 11.38 0.61IYK iShares US Consumer Goods 117.17 96 Strong Buy 5.83 5.24 8.43 16.66 10.47 12.94 2.05 0.69 9.77 0.44KXI iShares Global Consumer Staples 95.98 92 Buy 4.24 3.69 6.50 7.34 7.07 9.90 2.13 0.65 10.24 0.47PBJ PowerShares Dynamic Food & Beverage ETF 33.58 91 Sell 0.33 1.30 4.06 11.96 10.23 13.13 1.77 0.57 11.32 0.58PSCC PowerShares S&P SmallCap Cnsmr Stapl ETF 68.51 85 Buy -0.78 2.07 6.26 34.16 14.73 18.00 0.52 13.61 0.29PSL PowerShares DWA Consumer Staples Mom ETF 56.40 91 Hold 5.18 4.56 7.33 7.89 10.92 14.06 1.86 0.54 11.37 0.60RHS Guggenheim S&P 500® Eq Wt Cons Stapl ETF 125.00 92 Buy 4.67 4.92 7.03 10.86 13.91 16.45 0.49 10.28 0.40VDC Vanguard Consumer Staples ETF 139.59 88 Buy 4.18 4.62 7.17 12.48 11.82 13.79 2.48 0.53 9.77 0.10XLP Consumer Staples Select Sector SPDR® ETF 54.12 97 Buy 4.66 5.05 7.41 10.80 11.76 13.48 2.47 0.50 10.04 0.14

energyAMJ JPMorgan Alerian MLP ETN 34.18 79 Sell 8.13 7.05 12.89 66.56 -4.74 2.05 1.33 20.39 0.85BNO United States Brent Oil ETF 15.24 23 Sell -2.81 -0.78 13.22 46.96 -29.45 -18.18 1.79 34.26 0.90DBE PowerShares DB Energy ETF 13.10 24 Sell -5.14 -2.17 10.27 36.74 -23.55 -15.21 1.43 26.91 0.75DBO PowerShares DB Oil ETF 9.28 22 Sell -4.13 -1.49 9.56 28.89 -30.85 -20.81 1.53 29.88 0.75ENY Guggenheim Canadian Energy Income ETF 8.97 30 Hold -1.43 -3.13 6.40 48.24 -12.13 -9.91 2.81 1.35 25.72 0.69FCG First Trust ISE-Revere Natural Gas ETF 26.11 24 Hold -0.23 -1.02 3.03 51.15 -34.88 -21.63 1.96 41.47 0.60FENY Fidelity® MSCI Energy ETF 20.53 56 Sell -3.07 -1.91 2.70 34.28 -4.14 1.13 19.95 0.08FXN First Trust Energy AlphaDEX® ETF 16.16 47 Sell -2.12 -2.94 5.67 45.67 -11.71 -3.93 1.64 28.60 0.62GAZ iPath® DJ-UBS Natural Gas SubTR ETN 0.49 17 Sell -28.16 -12.96 -5.01 -0.51 -45.61 -34.84 2.33 87.19 0.75GEX VanEck Global Alt Energy ETF 54.68 68 Sell 8.32 4.17 13.45 23.73 -1.59 9.49 0.56 1.41 18.79 0.62

ALTernATiVe (continued)


Beta 3 Year

sD 3 Year


8 FeBRuARY 2017 | PhOne: (888) 252-5372


energy (continued)

ICLN iShares Global Clean Energy 8.70 60 Hold 10.41 5.33 11.03 16.33 -4.14 0.41 2.62 1.37 20.52 0.47IEO iShares US Oil&Gas Explor&Prodtn 64.24 61 Sell -1.83 -1.18 4.35 50.66 -6.39 -0.47 2.03 1.48 25.79 0.44IEZ iShares US Oil Equipment&Services 45.70 50 Sell 0.55 -1.44 11.20 54.50 -9.24 -3.09 2.39 1.45 28.50 0.44IXC iShares Global Energy 34.00 48 Sell -2.30 -2.30 4.38 33.51 -4.01 -0.67 4.03 1.16 19.08 0.47IYE iShares US Energy 40.33 61 Sell -2.91 -1.75 2.56 32.34 -4.02 1.15 3.27 1.11 19.46 0.44KOL VanEck Coal ETF 13.29 45 Hold 8.40 0.99 1.60 122.38 -7.27 -15.82 4.49 1.38 30.23 0.59PBD PowerShares Global Clean Energy ETF 10.99 38 Hold 5.67 3.39 9.32 20.44 -4.22 4.49 0.22 1.34 17.73 0.77PBW PowerShares WilderHill Clean Energy ETF 3.94 32 Hold 7.07 3.96 7.29 11.36 -14.35 -5.64 1.36 22.43 0.70PSCE PowerShares S&P SmallCap Energy ETF 20.73 47 Sell -1.38 -2.08 12.76 86.75 -23.19 -11.08 2.08 40.33 0.29PUW PowerShares WilderHill Prog Engy ETF 26.54 61 Hold 2.87 1.49 7.69 62.04 -4.41 1.40 0.34 1.70 22.52 0.70PXE PowerShares Dynamic Engy Explr&Prdtn ETF 22.64 61 Sell -1.92 0.17 4.63 42.92 -8.75 0.35 1.74 1.59 29.37 0.75PXI PowerShares DWA Energy Momentum ETF 43.02 61 Sell -1.12 -0.94 4.65 61.35 -6.20 1.67 1.84 1.42 28.19 0.60PXJ PowerShares Dynamic Oil & Gas Svcs ETF 13.02 32 Sell 1.96 -2.62 11.87 38.66 -18.48 -8.62 1.60 31.58 0.63TAN Guggenheim Solar ETF 18.58 46 Hold 12.13 5.15 10.14 -4.52 -21.37 -6.59 1.75 32.43 0.71UNG United States Natural Gas ETF 7.37 24 Sell -21.09 -13.40 1.52 2.08 -33.43 -18.71 1.02 35.43 1.27UNL United States 12 Month Natural Gas ETF 10.50 48 Hold -10.18 -6.83 8.70 20.41 -19.50 -11.28 0.78 23.70 0.90USO United States Oil ETF 11.36 28 Sell -3.07 -0.44 9.86 36.37 -31.86 -21.93 1.70 33.37 0.72VDE Vanguard Energy ETF 101.44 63 Sell -3.10 -1.75 3.01 36.60 -3.74 1.14 2.32 1.16 20.34 0.10XES SPDR® S&P Oil & Gas Equipment&Svcs ETF 22.55 33 Hold 0.89 -2.00 16.59 69.85 -17.85 -8.67 0.57 1.81 35.19 0.35XLE Energy Select Sector SPDR® ETF 73.37 57 Sell -2.59 -1.36 2.70 36.07 -2.75 2.20 2.28 1.11 19.15 0.14XOP SPDR® S&P Oil & Gas Explor & Prodtn ETF 40.19 37 Sell -2.97 -0.69 4.66 65.44 -15.16 -6.39 0.68 1.83 36.11 0.35

FinAnCiALSFNCL Fidelity® MSCI Financials ETF 36.36 96 Strong Buy 5.15 4.15 11.22 52.17 14.37 0.88 14.16 0.08FXO First Trust Financials AlphaDEX® ETF 28.40 99 Strong Buy 5.07 3.76 10.49 42.47 11.85 16.16 0.90 12.55 0.64IAI iShares US Broker-Dealers 53.72 93 Buy 8.57 5.25 13.94 62.03 13.98 19.95 1.14 1.07 19.56 0.44IAK iShares US Insurance 61.09 93 Strong Buy 2.96 2.83 7.33 35.99 12.93 16.33 1.50 0.89 13.67 0.44IAT iShares US Regional Banks 47.85 99 Strong Buy 5.44 4.75 14.09 64.63 15.23 18.00 1.83 0.89 18.79 0.44IXG iShares Global Financials 61.45 80 Buy 6.35 3.71 10.27 42.36 6.05 11.42 2.27 1.10 14.21 0.47IYF iShares US Financials 106.31 98 Strong Buy 4.78 3.67 10.12 41.41 11.97 16.34 1.69 0.89 12.77 0.44KBE SPDR® S&P Bank ETF 45.62 99 Strong Buy 4.95 4.01 13.97 67.00 13.89 17.84 1.24 0.99 20.74 0.35KCE SPDR® S&P Capital Markets ETF 48.22 72 Buy 7.44 4.72 10.61 46.56 2.28 11.48 1.75 1.37 21.13 0.35KIE SPDR® S&P Insurance ETF 86.89 97 Strong Buy 4.75 4.49 9.23 39.76 15.03 18.63 1.34 0.76 12.28 0.35KRE SPDR® S&P Regional Banking ETF 57.95 99 Strong Buy 4.28 3.83 13.71 71.13 16.31 18.85 1.23 0.96 21.64 0.35VFH Vanguard Financials ETF 62.40 99 Strong Buy 5.14 4.09 11.17 52.02 14.43 17.76 1.78 0.88 14.18 0.10XLF Financial Select Sector SPDR® ETF 24.52 91 Strong Buy 5.46 4.30 11.06 50.36 13.87 17.97 1.45 0.91 14.73 0.14

heALThCAreFBT First Trust NYSE Arca Biotech ETF 102.13 90 Strong Buy 12.38 6.39 0.35 25.41 9.40 19.94 1.41 27.37 0.55FHLC Fidelity® MSCI Health Care ETF 35.38 94 Buy 7.57 3.94 5.42 19.15 9.69 0.92 13.61 0.08FXH First Trust Health Care AlphaDEX® ETF 62.04 91 Buy 8.27 3.97 6.29 22.29 6.43 16.13 0.92 15.10 0.61IBB iShares Nasdaq Biotechnology 295.00 88 Strong Buy 11.14 5.34 1.28 17.64 4.76 19.81 1.42 25.17 0.47IHE iShares US Pharmaceuticals 153.43 91 Strong Buy 8.49 5.84 3.90 16.08 8.32 15.95 0.95 1.06 17.60 0.44IHF iShares US Healthcare Providers 134.02 93 Strong Buy 6.98 2.36 8.33 23.86 12.94 16.47 0.18 0.63 14.19 0.44IHI iShares US Medical Devices 146.89 99 Strong Buy 10.32 4.72 9.37 33.73 15.72 18.29 0.55 0.89 13.83 0.44IXJ iShares Global Healthcare 100.75 93 Strong Buy 6.25 3.59 4.99 11.76 5.80 13.97 1.42 0.86 12.21 0.47IYH iShares US Healthcare 154.34 91 Strong Buy 7.08 3.95 5.04 18.01 9.45 17.18 1.04 0.90 13.17 0.44PBE PowerShares Dynamic Biotech & Genome ETF 43.35 86 Strong Buy 11.70 5.45 -1.03 21.29 0.20 14.40 1.55 26.88 0.58PJP PowerShares Dynamic Pharmaceuticals ETF 60.91 86 Buy 8.71 7.01 3.18 5.64 5.42 18.26 0.84 1.07 18.43 0.57PTH PowerShares DWA Healthcare Momentum ETF 53.35 92 Strong Buy 11.15 6.11 5.52 35.27 2.42 11.89 1.26 24.30 0.60RYH Guggenheim S&P 500® Eq Weight HC ETF 158.42 92 Buy 8.57 4.74 6.21 17.86 11.48 17.85 0.91 13.51 0.40VHT Vanguard Health Care ETF 136.30 98 Strong Buy 7.52 4.04 5.39 19.15 9.77 17.60 1.51 0.92 13.63 0.10XBI SPDR® S&P Biotech ETF 69.11 97 Strong Buy 16.76 6.32 2.10 47.30 10.83 21.74 0.02 1.84 35.51 0.35XLV Health Care Select Sector SPDR® ETF 73.66 94 Strong Buy 6.85 3.86 4.99 16.26 9.78 17.20 1.53 0.87 12.64 0.14XPH SPDR® S&P Pharmaceuticals ETF 42.53 86 Buy 8.80 7.18 1.66 6.26 0.93 13.40 0.56 1.29 24.19 0.35

inDuSTriALSEXI iShares Global Industrials 79.52 87 Hold 5.52 2.86 7.17 29.90 6.28 10.56 1.72 0.97 11.32 0.47FIDU Fidelity® MSCI Industrials ETF 33.84 83 Strong Buy 5.01 3.39 6.86 37.27 9.87 0.95 12.78 0.08FLM First Trust ISE Glb Engnrg And Const ETF 52.16 67 Hold 6.05 3.30 6.42 36.65 2.73 6.79 1.03 14.04 0.70FXR First Trust Indtls/PrdcrDurbAlphaDEX®ETF 34.83 91 Buy 5.93 3.66 8.16 46.95 7.99 13.92 1.11 15.43 0.66GII SPDR® S&P Global Infrastructure ETF 46.49 66 Sell 3.31 1.31 7.81 19.76 3.56 6.88 3.09 0.75 10.79 0.40IGF iShares Global Infrastructure 40.34 74 Sell 3.33 1.38 7.11 19.56 3.31 6.56 3.36 0.75 10.85 0.47


Beta 3 Year

sD 3 Year



ITA iShares US Aerospace & Defense 149.09 93 Strong Buy 6.10 4.67 6.35 44.87 12.70 19.24 0.86 0.79 12.60 0.44IYJ iShares US Industrials 126.49 92 Strong Buy 4.91 3.16 6.89 35.44 9.96 14.42 1.53 0.95 12.33 0.44IYT iShares Transportation Average 172.16 83 Hold 5.72 3.98 8.67 37.69 10.66 14.43 1.06 0.87 14.91 0.44PKB PowerShares Dynamic Building & Const ETF 29.16 79 Strong Buy 4.63 3.62 5.97 42.71 9.45 16.65 0.35 1.11 18.00 0.63PPA PowerShares Aerospace & Defense ETF 43.59 96 Strong Buy 4.43 3.37 4.75 40.26 12.40 18.89 1.10 0.81 12.53 0.64PRN PowerShares DWA Industrials Momentum ETF 52.30 84 Hold 4.70 3.34 6.53 33.09 4.28 12.53 0.89 1.01 14.25 0.60PSCI PowerShares S&P SmallCap Industrials ETF 56.88 80 Buy 2.82 1.63 6.03 47.80 9.73 14.80 1.07 18.15 0.29SEA Guggenheim Shipping ETF 12.54 52 Hold 9.70 3.03 16.74 31.71 -11.66 -2.32 1.37 19.24 0.65VIS Vanguard Industrials ETF 125.12 92 Strong Buy 4.91 3.38 7.17 37.11 10.37 14.97 1.83 0.94 12.78 0.10XLI Industrial Select Sector SPDR® ETF 65.76 90 Strong Buy 5.69 4.02 7.51 35.36 10.87 14.69 1.86 0.90 12.19 0.14

MATeriALS & preCiOuS MeTALSDBB PowerShares DB Base Metals ETF 16.64 34 Sell 11.53 3.39 9.33 40.78 0.65 -4.00 0.38 15.99 0.75DBP PowerShares DB Precious Metals ETF 37.74 36 Sell 8.29 3.65 1.15 0.67 -4.34 -9.01 0.24 17.69 0.75DBS PowerShares DB Silver ETF 27.97 28 Sell 12.51 6.52 4.64 12.17 -7.78 -13.64 0.39 26.43 0.75GDX VanEck Gold Miners ETF 24.94 49 Sell 19.17 9.63 13.54 32.71 -1.23 -13.54 0.58 0.78 47.02 0.52GDXJ VanEck Junior Gold Miners ETF 41.50 59 Hold 31.54 13.20 18.56 75.43 0.25 -16.03 0.23 1.03 52.11 0.56GLD SPDR® Gold Shares 117.44 50 Sell 7.15 2.84 0.28 -0.77 -2.61 -6.92 0.19 15.14 0.40IAU iShares Gold Trust 11.87 50 Sell 7.13 2.77 0.34 -0.59 -2.48 -6.79 0.19 15.15 0.25JJM iPath® DJ-UBS Ind Metals SubTR ETN 25.99 40 Sell 9.70 3.41 7.83 42.47 -3.05 -7.44 0.47 18.68 0.75JJP iPath® DJ-UBS Prec Metals SubTR ETN 57.49 34 Sell 7.54 6.30 1.75 1.22 -4.83 -9.55 0.26 19.23 0.75PALL ETFS Physical Palladium 75.76 66 Sell 16.18 5.21 11.81 50.59 1.80 2.35 0.53 36.02 0.60PGM iPath® DJ-UBS Platinum SubTR ETN 20.58 30 Sell 10.59 0.39 8.89 4.31 -13.14 -11.57 0.36 24.18 0.75PPLT ETFS Physical Platinum 96.78 30 Sell 12.00 2.48 7.50 5.02 -11.47 -9.72 0.33 21.90 0.60PSAU PowerShares Global Gold & Prec Mtls ETF 21.11 51 Sell 20.08 9.32 13.33 35.19 -1.56 -12.69 0.03 0.88 43.80 0.75RING iShares MSCI Global Gold Miners 20.69 46 Hold 20.78 10.76 13.79 33.29 -1.61 -14.91 0.84 0.73 48.29 0.39SIL Global X Silver Miners ETF 39.32 56 Hold 22.45 7.40 11.23 83.63 -2.15 -10.39 1.30 50.88 0.65SLV iShares Silver Trust 17.04 34 Sell 12.77 6.90 5.25 13.68 -6.20 -12.09 0.44 23.69 0.50

nATurAL reSOurCeSCOPX Global X Copper Miners ETF 25.74 49 Hold 28.70 10.85 28.25 150.41 -2.79 -8.77 0.55 2.50 44.43 0.65CUT Guggenheim Timber ETF 26.53 68 Sell 7.11 3.62 11.06 36.91 3.00 9.45 1.22 15.46 0.55FIW First Trust ISE Water ETF 41.66 67 Hold 5.30 3.68 5.80 44.17 8.27 13.45 1.03 15.75 0.57FMAT Fidelity® MSCI Materials ETF 30.79 75 Hold 6.76 4.02 9.64 42.08 7.11 1.33 17.22 0.08FTRI First Trust Natural Resource 11.53 24 Sell 0.17 -0.70 5.83 34.04 -18.93 -17.34 1.85 31.73 0.70FXZ First Trust Materials AlphaDEX® ETF 38.36 80 Buy 7.07 3.74 8.82 48.62 7.07 11.35 1.30 17.09 0.66GOEX Global X Gold Explorers ETF 26.26 66 Hold 26.86 11.27 21.15 81.79 8.84 -14.34 1.12 58.24 0.65GRES IQ Global Resources ETF 26.59 57 Sell 5.89 3.56 4.31 26.31 -2.21 -0.90 0.89 14.49 0.78HAP VanEck Natural Resources ETF 34.15 58 Sell 5.53 2.59 10.33 37.57 -0.27 0.93 2.85 1.14 16.02 0.50IGE iShares North American Natural Resources 35.85 54 Sell -0.28 -0.67 4.21 41.99 -3.92 -0.79 2.98 1.24 20.62 0.48IYM iShares US Basic Materials 88.94 78 Sell 6.95 4.28 10.64 40.05 4.94 6.58 2.22 1.36 17.92 0.44LIT Global X Lithium ETF 26.92 51 Sell 10.42 1.66 15.78 58.49 2.83 -2.85 0.91 1.53 21.36 0.77MOO VanEck Agribusiness ETF 54.56 60 Sell 6.27 3.69 10.50 30.53 4.57 3.33 1.68 0.88 12.01 0.55MXI iShares Global Materials 60.15 39 Sell 9.70 4.28 11.19 47.99 0.83 1.23 2.74 1.41 18.31 0.47PAGG PowerShares Global Agriculture ETF 25.64 50 Sell 4.23 1.04 8.77 26.21 -1.54 -0.85 0.83 0.97 13.60 0.76PHO PowerShares Water Resources ETF 25.82 54 Hold 5.00 3.20 5.28 34.35 -0.09 7.19 0.62 1.14 15.11 0.61PIO PowerShares Global Water ETF 21.90 57 Sell 5.29 4.63 6.07 19.32 -0.62 6.00 2.28 1.18 14.02 0.76PYZ PowerShares DWA Basic Materials Mom ETF 64.20 89 Sell 8.41 6.66 10.75 50.82 9.10 13.06 1.01 1.39 18.95 0.60PZD PowerShares Cleantech ETF 34.42 61 Sell 5.28 2.00 7.17 33.42 3.18 8.56 0.26 1.29 15.80 0.67REMX VanEck Rare EarthStrat Mtls ETF 19.77 31 Hold 16.23 7.39 20.44 69.98 -15.99 -20.78 1.56 1.72 27.73 0.57RTM Guggenheim S&P 500® Eq Wt Materials ETF 96.45 85 Sell 5.89 2.68 8.06 40.00 8.19 10.93 1.30 17.38 0.40SLX VanEck Steel ETF 44.66 53 Hold 18.18 8.87 19.74 1.05 -1.05 3.45 2.00 36.71 0.55URA Global X Uranium ETF 18.43 38 Hold 43.20 8.80 59.36 64.52 -13.21 -18.15 1.89 35.96 0.70VAW Vanguard Materials ETF 119.91 81 Buy 6.64 3.94 9.67 41.77 7.16 10.20 1.75 1.34 17.24 0.10WOOD iShares Global Timber & Forestry 56.85 75 Buy 6.06 3.59 11.43 46.27 4.21 9.07 2.53 1.23 16.92 0.47XLB Materials Select Sector SPDR® ETF 52.45 74 Sell 5.53 3.11 8.95 34.00 6.53 9.74 1.87 1.30 17.13 0.14

reAL eSTATeDRW WisdomTree Global ex-US Real Estate ETF 27.14 76 Sell 7.49 3.62 8.18 21.70 4.95 6.17 0.04 1.05 14.24 0.58FFR First Trust FTSE EN Dev Mkts Rel Est ETF 43.32 74 Sell 2.40 1.62 6.05 16.44 5.70 7.73 0.71 12.16 0.60FRI First Trust S&P REIT ETF 23.16 85 Sell 0.43 0.43 6.03 19.58 10.15 9.99 0.60 15.06 0.48GRI Cohen & Steers Global Realty Majors ETF 42.81 80 Sell 2.75 1.45 5.58 16.26 5.65 7.26 2.64 0.73 12.69 0.55ICF iShares Cohen & Steers REIT 99.95 86 Sell 0.31 0.52 5.37 17.02 11.21 9.79 2.78 0.56 15.63 0.35IYR iShares US Real Estate 78.28 82 Sell 1.74 1.53 6.95 21.79 9.55 9.49 3.37 0.67 13.84 0.44


Beta 3 Year

sD 3 Year


inDuSTriALS (continued)

10 FeBRuARY 2017 | PhOne: (888) 252-5372


reAL eSTATe (continued)

MORT VanEck Mortgage REIT Income ETF 22.75 79 Buy 4.02 1.68 7.03 41.41 7.60 8.99 11.91 0.68 11.14 0.41PSR PowerShares Active US Real Estate ETF 75.99 87 Hold 3.53 1.02 6.42 23.18 10.90 9.98 2.98 0.63 14.34 0.80REZ iShares Residential Rel Est Capped 61.66 85 Sell -0.56 0.70 6.20 15.60 12.15 10.56 2.98 0.41 16.11 0.48ROOF IQ U.S. Real Estate Small Cap ETF 27.06 86 Hold -0.56 -0.29 5.45 35.49 8.40 13.17 0.86 14.15 0.70RWO SPDR® Dow Jones Global Real Estate ETF 47.38 76 Sell 1.11 0.98 5.74 15.00 6.74 8.37 3.00 0.73 12.78 0.50RWR SPDR® Dow Jones REIT ETF 93.05 83 Sell -0.32 0.22 5.07 18.33 10.62 10.05 3.40 0.60 15.19 0.25SCHH Schwab US REIT 40.93 81 Sell -0.27 0.29 5.12 18.39 10.74 10.19 3.26 0.60 15.22 0.07VNQ Vanguard REIT ETF 83.12 73 Sell 0.71 0.62 6.44 20.64 10.76 10.58 2.83 0.61 15.07 0.12VNQI Vanguard Global ex-US Real Estate ETF 52.58 56 Sell 6.07 3.32 6.89 17.12 3.38 6.84 0.89 12.12 0.18WPS iShares International Developed Property 35.19 62 Sell 4.70 2.53 5.59 14.07 2.98 7.28 2.51 0.86 11.72 0.48XLRE Real Estate Select Sector SPDR 31.18 69 Sell 1.40 1.60 5.95 18.14 3.34 0.14

TeChnOLOgyFDN First Trust Dow Jones Internet ETF 87.06 92 Buy 9.06 2.44 10.38 45.93 11.78 19.73 1.22 17.40 0.54FTEC Fidelity® MSCI Information Tech ETF 40.13 96 Buy 8.72 5.44 11.82 40.30 14.84 1.09 13.94 0.08IGM iShares North American Tech 134.79 99 Strong Buy 8.86 4.91 11.33 41.17 15.07 16.22 0.77 1.12 14.03 0.48IGN iShares North American Tech-Multimd Ntwk 46.66 72 Buy 6.97 6.14 6.60 51.75 11.32 9.47 0.83 1.04 15.64 0.48IGV iShares North American Tech-Software 122.62 95 Strong Buy 12.65 6.87 10.02 44.01 13.58 15.02 0.20 1.15 15.30 0.48IXN iShares Global Tech 119.58 94 Buy 8.83 5.20 11.87 38.61 13.96 14.11 1.00 1.09 13.65 0.47IYW iShares US Technology 131.47 94 Strong Buy 9.33 5.81 12.32 40.33 14.62 13.98 1.04 1.12 14.54 0.44MTK SPDR® Morgan Stanley Technology ETF 66.97 87 Buy 10.65 5.89 12.36 51.25 14.38 15.84 0.72 1.17 14.92 0.35PNQI PowerShares NASDAQ Internet 92.24 88 Strong Buy 11.62 4.16 10.83 40.03 9.32 18.74 1.22 17.64 0.60PSJ PowerShares Dynamic Software ETF 50.90 98 Strong Buy 7.89 3.41 7.19 38.43 11.26 14.55 1.02 14.35 0.63PTF PowerShares DWA Technology Momentum ETF 43.26 88 Hold 8.37 5.15 8.67 36.82 7.20 10.57 1.11 16.53 0.60PXQ PowerShares Dynamic Networking ETF 43.33 73 Buy 7.33 4.84 7.41 51.82 10.40 9.44 1.27 17.26 0.63QTEC First Trust NASDAQ-100-Tech Sector ETF 57.94 99 Strong Buy 10.03 5.96 13.81 58.34 17.46 17.29 1.17 15.92 0.60SKYY First Trust ISE Cloud Computing ETF 37.67 97 Strong Buy 9.25 4.90 9.98 48.47 11.04 13.39 1.12 14.82 0.60SOXX iShares PHLX Semiconductor 131.38 95 Buy 7.06 5.05 14.70 71.81 21.66 19.47 1.52 1.22 18.70 0.48TDIV First Trust NASDAQ Technology Div ETF 31.45 89 Buy 6.32 4.49 10.00 38.26 11.79 1.07 14.13 0.50VGT Vanguard Information Technology ETF 132.30 99 Strong Buy 8.89 5.42 11.86 40.22 14.82 15.26 1.25 1.10 13.97 0.10XLK Technology Select Sector SPDR® ETF 51.89 96 Strong Buy 7.30 4.49 11.68 34.61 14.98 15.12 1.57 1.02 13.12 0.14XSD SPDR® S&P Semiconductor ETF 60.29 93 Buy 7.45 4.24 13.73 60.99 24.27 18.87 0.66 1.21 20.53 0.35

uTiLiTieSFUTY Fidelity® MSCI Utilities ETF 31.87 71 Sell 0.85 0.95 5.76 12.71 10.62 0.22 13.81 0.08FXU First Trust Utilities AlphaDEX® ETF 27.02 72 Sell 1.08 0.41 6.85 21.17 11.54 12.48 0.40 12.47 0.62IDU iShares US Utilities 122.99 75 Sell 0.95 1.06 5.81 11.70 10.46 11.33 3.22 0.20 13.95 0.44JXI iShares Global Utilities 45.43 63 Sell 1.63 1.20 6.09 7.35 3.62 6.04 3.31 0.49 11.72 0.47PSCU PowerShares S&P SmallCap Utilities ETF 47.48 78 Sell -0.73 -0.72 1.82 15.88 14.46 12.52 0.33 15.18 0.29PUI PowerShares DWA Utilities Momentum ETF 26.12 68 Sell 1.95 1.71 7.10 14.65 10.39 12.57 3.69 0.20 13.20 0.60RYU Guggenheim S&P 500® Eq Wt Utilities ETF 82.02 72 Sell 1.54 0.89 6.53 12.52 11.31 12.57 0.30 12.54 0.40VPU Vanguard Utilities ETF 107.92 66 Sell 0.85 1.02 5.90 12.95 10.70 11.69 3.42 0.22 13.87 0.10XLU Utilities Select Sector SPDR® ETF 49.05 70 Sell 0.99 1.11 5.95 11.34 10.59 11.19 3.37 0.17 14.03 0.14

FOreign LArge CApACWI iShares MSCI ACWI 62.45 81 Hold 5.54 2.88 8.19 26.74 5.47 8.94 2.12 0.84 10.98 0.33ACWV iShares Edge MSCI Min Vol Global 75.28 81 Strong Buy 3.68 2.19 5.35 14.28 8.89 10.02 2.37 0.51 8.40 0.20ACWX iShares MSCI ACWI ex US 42.66 68 Hold 5.93 2.52 8.04 23.84 0.30 4.06 2.43 1.00 12.55 0.33ADRD BLDRS Developed Markets 100 ADR ETF 20.80 69 Hold 4.16 1.41 8.12 18.77 -1.86 4.45 2.56 0.92 12.53 0.30CWI SPDR® MSCI ACWI ex-US ETF 33.38 72 Sell 6.00 2.42 8.45 23.92 0.92 4.47 2.17 1.00 12.53 0.30DEW WisdomTree Global Equity Income ETF 44.90 84 Strong Buy 3.31 2.31 7.67 26.31 2.59 6.13 0.04 0.86 11.63 0.58DGT SPDR® Global Dow ETF 73.52 76 Buy 5.16 2.70 8.67 31.12 4.89 8.71 2.04 0.91 11.90 0.50DNL WisdomTree Global ex-US Dividend Gr ETF 49.26 75 Sell 6.96 4.74 9.14 22.94 1.64 1.50 0.03 0.97 12.74 0.58DOL WisdomTree International LargeCp Div ETF 44.41 72 Buy 3.71 0.73 6.58 18.39 -1.27 4.64 0.03 0.97 12.55 0.48DOO WisdomTree Intl Div ex-Fincls ETF 38.79 67 Hold 3.80 0.66 7.13 13.62 -3.13 3.18 0.03 0.95 12.61 0.58DTH WisdomTree DEFA Equity Income ETF 39.52 72 Hold 3.70 0.71 7.43 19.90 -1.70 5.15 0.03 0.99 12.85 0.58DWM WisdomTree DEFA ETF 48.56 65 Sell 4.66 1.55 7.43 19.25 -0.04 5.84 0.03 0.97 12.39 0.48DWX SPDR® S&P International Dividend ETF 37.48 58 Hold 3.94 0.97 9.07 29.60 -2.55 0.52 4.26 1.16 15.84 0.45EFA iShares MSCI EAFE 60.52 71 Sell 4.83 1.56 7.29 19.36 -0.14 5.66 2.55 0.97 12.53 0.33EFAV iShares MSCI EAFE Minimum Volatility 63.61 91 Hold 3.90 1.14 4.73 6.75 4.54 7.46 2.57 0.69 10.00 0.20EFG iShares MSCI EAFE Growth 66.85 70 Sell 4.96 1.92 6.08 13.67 0.42 5.56 1.58 0.92 12.17 0.40EFV iShares MSCI EAFE Value 49.23 57 Buy 4.19 0.76 7.43 24.99 -1.15 5.22 3.40 1.02 13.38 0.40FDT First Trust Dev Mkts Ex-US AlphaDEX® ETF 50.97 71 Hold 8.01 2.97 9.68 26.01 1.55 5.96 0.89 11.83 0.80FGD First Trust Dow Jones Global Sel Div ETF 24.44 78 Buy 4.89 1.71 8.41 25.10 1.19 6.13 0.82 11.16 0.58


Beta 3 Year

sD 3 Year



FOreign LArge CAp (continued)

FNDE Schwab Fundamental Emerg Mkts Lg Co ETF 26.70 82 Strong Buy 11.72 5.37 16.22 60.07 3.38 2.28 1.32 20.57 0.47FNDF Schwab Fundamental Intl Lg Co ETF 26.26 83 Hold 4.62 1.08 8.20 25.69 0.03 2.80 1.02 13.14 0.32GWL SPDR® S&P World ex-US ETF 27.04 71 Sell 5.21 1.69 7.76 22.07 0.67 5.45 2.12 0.96 12.24 0.34HGI Guggenheim Intl Multi-Asset Inc ETF 15.98 67 Sell 5.97 2.63 9.41 31.48 -1.40 1.91 3.35 1.09 14.17 0.84IDV iShares International Select Dividend 31.15 75 Hold 5.38 1.96 9.15 24.38 -1.55 4.79 5.72 1.04 13.52 0.50IHDG WisdomTree Intl Hedged Dividend 27.41 81 Strong Buy 4.02 2.09 7.96 17.24 0.02 0.58IOO iShares Global 100 80.07 86 Strong Buy 4.37 2.60 8.22 24.39 4.80 8.52 2.56 0.82 11.36 0.40LVL Guggenheim S&P Global Div Opps Idx ETF 10.48 60 Strong Buy 3.22 1.42 8.53 42.38 -2.10 0.65 4.86 1.20 16.63 0.64PID PowerShares Intl Div Achiev ETF 15.02 83 Strong Buy 4.23 0.27 7.77 30.01 -2.20 3.13 3.05 1.06 14.56 0.58PIZ PowerShares DWA Developed Mkts Mom ETF 22.71 66 Sell 6.17 3.18 7.61 10.99 -3.72 5.81 0.86 0.85 12.61 0.81PXF PowerShares FTSE RAFI Dev Mkts ex-US ETF 39.52 55 Hold 5.25 1.52 9.29 27.70 -0.08 5.58 2.62 1.05 13.54 0.46RTR Oppenheimer ADR Revenue ETF 34.75 67 Hold 5.53 1.17 9.91 35.15 -0.16 2.70 1.16 15.78 0.49SCHE Schwab Emerging Markets Equity ETF 23.80 72 Hold 10.39 5.87 11.44 36.87 3.21 0.66 2.66 1.09 16.17 0.13SCHF Schwab International Equity ETF 29.16 72 Hold 5.35 1.92 7.80 21.65 0.38 5.33 2.75 0.97 12.32 0.07SDIV Global X SuperDividend™ ETF 21.63 89 Buy 4.53 1.89 9.40 32.52 3.68 6.91 7.04 0.97 13.20 0.58TOK iShares MSCI Kokusai 57.12 83 Sell 5.04 2.59 8.02 25.23 5.58 10.09 2.24 0.80 10.97 0.25VEA Vanguard FTSE Developed Markets ETF 38.52 65 Buy 5.42 1.96 7.91 21.39 0.82 6.19 0.92 11.88 0.09VEU Vanguard FTSE All-World ex-US ETF 46.94 60 Sell 6.25 2.56 8.38 24.71 1.05 4.55 0.95 12.04 0.13VT Vanguard Total World Stock ETF 64.64 77 Hold 5.97 3.28 8.53 28.13 5.67 9.23 0.82 10.80 0.14

FOreign SMALL & MiD CApDIM WisdomTree International MidCap Div ETF 58.69 79 Hold 6.00 2.86 8.71 21.76 2.57 7.94 0.02 0.97 12.72 0.58DLS WisdomTree International SmallCp Div ETF 64.49 89 Buy 7.45 3.88 9.80 27.82 3.44 9.85 0.03 0.94 13.02 0.58FNDC Schwab Fundamental Intl Sm Co ETF 30.15 82 Hold 6.24 2.86 8.67 29.89 4.85 1.84 0.90 11.91 0.46GWX SPDR® S&P International Small Cap ETF 31.17 81 Buy 7.48 3.55 8.64 29.95 4.09 7.56 1.72 0.91 12.49 0.40PDN PowerShares FTSE RAFI DvMkt exUS S/M ETF 28.82 80 Sell 6.74 3.33 9.25 28.26 3.24 7.38 1.55 0.90 11.79 0.50SCHC Schwab International Small-Cap Eq ETF 31.02 77 Sell 6.60 3.37 8.92 24.47 0.92 6.29 2.08 0.94 12.85 0.16SCZ iShares MSCI EAFE Small-Cap 53.00 83 Buy 6.34 3.31 8.31 23.36 3.56 9.31 1.95 0.89 12.31 0.40VSS Vanguard FTSE All-World ex-US Sm-Cp ETF 101.43 67 Hold 7.87 3.97 9.24 26.89 1.47 5.75 0.91 12.20 0.17

LATin AMeriCAARGT Global X MSCI Argentina ETF 27.12 72 Hold 17.60 7.92 19.13 62.20 12.57 3.98 1.14 22.05 0.75BRF VanEck Brazil Small-Cap ETF 20.26 50 Hold 27.50 17.04 31.00 -5.33 -12.06 2.29 1.91 35.51 0.60ECH iShares MSCI Chile Capped 41.39 41 Sell 10.61 6.87 10.54 28.64 -0.53 -7.46 0.57 0.82 15.92 0.64EPU iShares MSCI All Peru Capped 36.14 60 Hold 10.18 5.98 10.42 71.37 3.57 -1.76 1.28 24.82 0.63EWW iShares MSCI Mexico Capped 46.19 54 Sell 5.05 8.30 3.71 3.88 -8.54 -3.44 0.94 0.82 16.84 0.48EWZ iShares MSCI Brazil Capped 40.04 48 Hold 20.10 11.41 21.14 111.21 2.24 -7.25 2.39 1.94 37.12 0.63EWZS iShares MSCI Brazil Small-Cap 14.43 49 Hold 31.54 17.41 32.03 -3.77 -9.49 3.89 1.94 37.32 0.63GML SPDR® S&P Emerging Latin America ETF 51.19 53 Hold 15.27 9.83 17.79 60.32 -1.64 -6.25 1.59 1.40 25.68 0.49GXG Global X MSCI Colombia ETF 9.43 27 Sell 3.40 -0.32 12.08 29.87 -15.24 -12.26 2.47 1.28 29.78 0.61ILF iShares Latin America 40 32.28 65 Hold 17.04 10.43 17.44 66.28 0.13 -5.02 2.78 1.46 27.15 0.49

ASiAAIA iShares Asia 50 50.98 82 Hold 10.25 4.64 10.24 38.44 6.53 5.17 1.88 1.08 16.56 0.50ASEA Global X Southeast Asia ETF 13.55 61 Hold 5.98 1.98 6.95 15.84 -1.32 -0.10 2.30 0.88 14.13 0.65AUSE WisdomTree Australia Dividend ETF 56.71 84 Hold 10.22 4.27 10.91 46.51 2.10 4.89 0.04 1.26 18.71 0.58AXJL WisdomTree Asia Pacific ex-Japan ETF 62.90 75 Hold 9.80 4.62 9.88 29.03 2.62 3.03 0.04 0.98 14.16 0.48DFJ WisdomTree Japan SmallCap Dividend ETF 66.08 82 Buy 6.72 2.48 8.29 35.18 11.69 10.50 0.02 0.66 11.67 0.58DXJ WisdomTree Japan Hedged Equity ETF 51.51 93 Strong Buy 3.98 1.66 10.78 32.23 9.88 13.55 0.02 0.85 19.11 0.48EPHE iShares MSCI Philippines 33.84 75 Sell 4.38 -1.37 2.53 4.83 2.36 5.89 0.75 0.73 15.92 0.64EPI WisdomTree India Earnings ETF 21.99 77 Buy 8.86 4.81 9.66 31.87 11.28 1.98 0.01 0.91 19.96 0.84EPP iShares MSCI Pacific ex Japan 43.75 76 Hold 10.56 4.17 9.60 32.95 2.13 4.55 3.88 1.13 16.37 0.49EWA iShares MSCI Australia 22.28 74 Sell 10.13 3.97 11.26 36.95 0.97 4.11 4.65 1.18 17.90 0.48EWH iShares MSCI Hong Kong 21.52 85 Hold 10.47 4.47 4.67 27.98 5.96 7.15 2.31 1.08 17.81 0.48EWJ iShares MSCI Japan 51.16 80 Sell 4.71 0.53 4.27 25.29 5.53 6.96 1.33 0.84 12.94 0.48EWM iShares MSCI Malaysia 29.74 56 Sell 5.95 2.41 2.39 -0.13 -9.51 -3.80 3.88 0.91 16.75 0.48EWO iShares MSCI Austria Capped 17.93 62 Buy 8.47 5.04 9.90 32.45 -2.29 4.42 1.32 1.26 18.41 0.48EWS iShares MSCI Singapore 21.90 69 Hold 9.88 2.48 10.53 21.01 -1.02 0.80 3.99 1.01 16.79 0.48EWT iShares MSCI Taiwan 33.04 75 Hold 12.50 7.31 12.52 39.31 8.24 6.67 3.74 0.80 13.91 0.64EWY iShares MSCI South Korea Capped 58.80 66 Hold 10.48 3.72 12.48 28.06 0.50 1.33 1.05 17.01 0.64FNI First Trust ISE Chindia ETF 30.66 80 Hold 12.18 5.22 7.08 33.83 3.14 7.71 1.21 19.61 0.60FXI iShares China Large-Cap 38.82 72 Sell 11.84 6.15 9.23 37.24 5.57 2.30 3.18 1.19 21.68 0.74GMF SPDR® S&P Emerging Asia Pacific ETF 83.23 75 Sell 10.78 5.96 9.24 31.32 6.13 4.18 1.76 1.00 15.19 0.49GXC SPDR® S&P China ETF 80.97 68 Sell 12.38 6.51 9.30 37.96 5.32 4.84 1.76 1.25 21.35 0.59


Beta 3 Year

sD 3 Year


12 FeBRuARY 2017 | PhOne: (888) 252-5372


ASiA (continued)IDX VanEck Indonesia ETF 22.16 51 Hold 4.38 2.36 5.72 12.34 0.77 -3.39 2.07 0.79 20.51 0.58INP iPath® MSCI India ETN 68.57 63 Hold 9.54 6.28 10.52 24.40 8.20 2.42 0.80 18.61 0.89INXX EGShares India Infrastructure ETF 12.23 56 Hold 15.81 9.00 13.90 43.13 10.25 -2.19 1.21 26.84 0.88IPAC iShares Core MSCI Pacific 51.90 74 Sell 6.33 1.68 6.06 27.98 2.48 0.10JHDG WisdomTree Japan Div Hedged 25.04 81 Buy 2.96 0.94 10.15 25.13 0.02 0.43JPXN iShares JPX-Nikkei 400 55.59 78 Hold 4.85 1.09 4.62 26.20 5.87 7.41 1.33 0.82 12.76 0.48PAF PowerShares FTSE RAFI Asa Pac ex-Jpn ETF 52.63 74 Hold 11.20 3.18 12.76 43.68 2.32 3.64 2.28 1.16 16.53 0.49PEK VanEck ChinaAMC A-Share ETF 39.09 56 Sell 5.86 3.05 0.64 17.44 10.56 3.44 1.08 0.99 31.13 0.75PGJ PowerShares Golden Dragon China ETF 32.56 63 Buy 13.89 5.85 8.61 27.49 3.49 9.07 0.63 1.41 25.15 0.70SCIF VanEck India Small-Cap ETF 46.70 62 Buy 14.55 6.11 13.04 44.29 17.72 -1.33 0.76 1.32 30.62 0.78SCJ iShares MSCI Japan Small-Cap 65.03 85 Buy 5.62 1.86 6.08 29.14 10.04 9.98 1.33 0.63 11.56 0.48TAO Guggenheim China Real Estate ETF 21.76 75 Hold 11.30 4.51 7.90 36.22 7.25 6.72 1.20 21.02 0.70THD iShares MSCI Thailand Capped 75.77 82 Hold 5.10 1.35 8.61 30.48 5.89 4.79 3.39 0.63 14.51 0.63VNM VanEck Vietnam ETF 14.09 56 Sell 8.05 4.29 5.53 8.63 -11.53 -1.11 3.53 0.90 17.22 0.67VPL Vanguard FTSE Pacific ETF 62.34 60 Hold 7.26 2.35 7.10 29.03 4.72 6.54 0.87 12.12 0.12YAO Guggenheim China All-Cap ETF 27.28 66 Hold 12.26 7.06 9.71 39.50 4.61 4.31 1.26 21.46 0.70

eurOpeDFE WisdomTree Europe SmallCap Dividend ETF 58.02 79 Strong Buy 6.22 3.70 11.73 19.97 1.43 12.91 0.01 0.99 15.38 0.58EWD iShares MSCI Sweden 30.76 69 Sell 7.07 4.20 12.12 21.01 -1.30 5.58 2.46 0.93 13.30 0.48EWG iShares MSCI Germany 27.49 66 Sell 3.81 1.36 8.44 21.83 -2.53 6.78 2.27 1.15 16.57 0.48EWI iShares MSCI Italy Capped 23.83 39 Sell -1.57 -2.93 10.52 11.72 -8.14 0.68 2.30 1.07 18.52 0.48EWK iShares MSCI Belgium Capped 17.95 76 Hold 2.51 0.56 5.38 12.60 4.62 12.63 2.21 0.84 12.96 0.48EWL iShares MSCI Switzerland Capped 30.87 83 Hold 4.79 1.15 6.48 12.57 -0.35 7.76 1.54 0.87 12.39 0.48EWN iShares MSCI Netherlands 25.30 62 Sell 4.76 2.80 7.58 19.69 1.84 9.41 2.08 0.93 13.76 0.48EWP iShares MSCI Spain Capped 27.52 45 Sell 3.81 0.62 9.63 17.61 -7.69 1.62 0.94 1.20 17.77 0.48EWQ iShares MSCI France 25.27 50 Sell 2.43 0.12 7.37 18.90 -1.39 6.52 2.34 0.99 14.52 0.48EWU iShares MSCI United Kingdom 32.00 73 Sell 4.27 2.14 7.71 13.54 -3.91 2.67 3.80 0.97 13.73 0.48EZU iShares MSCI EMU 35.60 50 Hold 2.89 0.68 7.81 18.10 -2.59 5.98 2.12 1.05 14.76 0.48FEU SPDR® STOXX Europe 50 ETF 30.89 62 Sell 3.31 0.85 7.09 12.82 -3.69 3.44 2.95 0.96 13.29 0.29FEZ SPDR® EURO STOXX 50 ETF 34.28 49 Hold 2.45 0.15 7.70 17.08 -3.40 4.99 2.44 1.06 15.27 0.29GREK Global X FTSE Greece 20 ETF 7.57 22 Sell -2.89 -5.91 5.97 31.64 -30.51 -14.71 1.38 1.82 36.43 0.63GUR SPDR® S&P Emerging Europe ETF 29.11 50 Hold 4.90 2.68 16.60 42.11 -5.59 -4.55 2.12 1.26 20.34 0.49HEDJ WisdomTree Europe Hedged Equity ETF 59.37 91 Hold 3.43 2.40 10.83 29.77 8.28 11.12 0.01 0.80 15.47 0.58IEUR iShares Core MSCI Europe 42.36 57 Hold 4.10 1.77 8.34 16.01 2.78 0.10IEV iShares Europe 40.24 55 Hold 3.68 1.39 7.89 15.11 -2.69 5.08 2.49 0.99 13.34 0.60NORW Global X MSCI Norway ETF 11.63 45 Hold 5.34 1.66 9.33 36.82 -6.43 -0.14 2.20 1.17 18.82 0.50PLND VanEck Poland ETF 15.47 44 Hold 15.36 9.17 26.25 20.85 -10.25 -1.95 3.49 1.15 21.36 0.60RBL SPDR® S&P Russia ETF 20.67 69 Buy 1.67 0.83 16.06 69.06 -3.39 -4.48 2.28 1.45 28.25 0.59RSX VanEck Russia ETF 21.63 66 Hold 1.89 0.79 17.01 62.42 -3.42 -4.59 3.22 1.42 27.77 0.67VGK Vanguard FTSE Europe ETF 49.89 71 Sell 4.07 1.75 8.13 15.88 -2.08 5.72 0.96 12.94 0.12

eMerging MArkeTSADRE BLDRS Emerging Markets 50 ADR ETF 36.39 67 Sell 12.85 6.70 11.45 43.81 3.55 -1.02 1.39 1.29 19.42 0.30BICK First Trust BICK ETF 24.51 65 Hold 12.86 5.34 12.71 47.64 3.80 -0.97 1.27 19.18 0.64BKF iShares MSCI BRIC 36.05 58 Hold 13.08 7.45 13.09 47.60 3.24 -0.91 2.21 1.30 19.50 0.72DEM WisdomTree Emerging Markets Eq Inc ETF 40.92 77 Buy 9.59 5.11 13.03 43.35 -1.25 -2.47 0.06 1.19 18.09 0.63DGS WisdomTree Emerging Markets SmCp Div ETF 43.81 88 Strong Buy 12.02 7.48 12.87 38.43 2.12 1.57 0.04 0.97 15.06 0.63EDIV SPDR® S&P Emerging Markets Dividend ETF 29.55 66 Hold 11.68 5.54 15.54 37.31 -3.06 -6.37 4.40 1.20 18.96 0.49EEM iShares MSCI Emerging Markets 38.69 81 Hold 10.51 5.48 11.84 34.52 1.31 -0.21 2.07 1.11 16.16 0.72EWX SPDR® S&P Emerging Markets Small Cap ETF 44.25 72 Hold 11.40 6.94 10.60 31.82 1.70 1.76 1.59 1.03 15.21 0.65FRN Guggenheim Frontier Markets ETF 12.69 35 Hold 9.79 2.92 11.77 33.58 -3.45 -5.90 0.91 15.27 0.70GAF SPDR® S&P Emerging Middle East&Afr ETF 59.89 70 Sell 7.72 2.03 12.24 30.69 -0.06 -0.24 2.23 1.19 19.92 0.49GMM SPDR® S&P Emerging Markets ETF 63.55 69 Sell 10.95 6.40 11.54 37.87 3.13 1.09 1.65 1.10 15.98 0.59HILO EGShares Low Volatility EM Dividend ETF 13.83 84 Hold 9.50 5.57 10.41 28.80 -1.91 -3.65 0.99 15.48 0.85PIE PowerShares DWA Emerging Markets Mom ETF 16.19 79 Sell 9.84 5.75 9.58 18.83 -1.67 -0.56 0.89 0.83 12.71 0.90VWO Vanguard FTSE Emerging Markets ETF 39.41 50 Hold 10.15 5.83 10.80 36.44 3.04 0.59 1.07 16.00 0.15

FOreign - OTherEGPT VanEck Egypt ETF 27.85 31 Sell 5.49 1.79 1.98 -14.44 -22.22 -8.86 1.58 1.03 28.10 0.98EIS iShares MSCI Israel Capped 50.33 67 Sell 8.47 5.71 9.65 16.40 3.43 6.04 1.72 0.71 12.96 0.64EWC iShares MSCI Canada 27.83 78 Hold 6.42 2.58 10.79 38.81 0.56 1.97 2.31 0.95 15.22 0.48EZA iShares MSCI South Africa 57.45 72 Sell 9.72 3.53 15.36 34.55 1.05 -0.18 2.34 1.29 22.85 0.64


Beta 3 Year

sD 3 Year



BOnDSAGG iShares Core US Aggregate Bond 107.89 81 Hold 0.04 -0.29 -0.30 0.61 2.46 2.01 2.14 1.01 2.96 0.05AGGY WisdomTree US Agg Bond Enhanced Yld 49.61 81 Buy 0.28 -0.14 -0.26 2.96 0.03 0.12AGND WTree Barclays US Agg Bond Neg Dur 44.27 76 Hold -0.05 0.70 1.26 6.43 -1.60 0.02 -1.20 4.17 0.28AGZD WTree Barclays US Agg Bond Zero Dur 48.28 79 Hold 0.16 0.08 1.04 4.65 0.49 0.02 -0.15 1.37 0.23BIV Vanguard Intermediate-Term Bond ETF 82.95 77 Hold 0.07 -0.30 -0.69 0.40 2.92 2.55 2.76 1.39 4.12 0.09BKLN PowerShares Senior Loan ETF 23.26 90 Strong Buy 0.16 -0.14 1.86 11.51 2.00 3.35 2.78 0.12 3.11 0.65BLV Vanguard Long-Term Bond ETF 89.19 73 Sell 0.39 -0.93 0.22 2.89 5.85 4.10 3.90 2.87 8.82 0.09BND Vanguard Total Bond Market ETF 80.67 76 Hold 0.06 -0.27 -0.24 0.82 2.46 2.03 2.49 1.07 3.15 0.06BNDS SPDR® Barclays Aggregate Bond ETF 56.87 83 Strong Buy 0.13 -0.29 -0.18 0.73 2.47 2.01 2.40 1.01 2.96 0.08BOND PIMCO Total Return Active ETF 104.53 87 Strong Buy 0.62 0.27 1.13 3.51 3.13 2.39 0.98 3.19 0.55CIU iShares Intermediate Credit Bond 108.40 86 Buy 0.40 0.14 0.10 3.07 2.27 2.59 2.54 0.78 2.44 0.20CMBS iShares CMBS 50.98 83 Hold 0.04 -0.40 0.21 0.23 2.08 2.38 2.31 0.88 2.74 0.25CRED iShares Core US Credit Bond 108.99 86 Strong Buy 0.05 -0.40 0.18 5.07 3.30 3.10 3.16 1.26 3.99 0.15CWB SPDR® Barclays Convertible Secs ETF 47.92 99 Strong Buy 5.13 3.36 8.30 27.86 6.21 9.80 2.40 1.18 8.34 0.40FLOT iShares Floating Rate Bond 50.80 89 Strong Buy 0.24 0.30 0.44 2.08 0.75 1.12 1.13 -0.02 0.36 0.20FTSL First Trust Senior Loan ETF 48.50 90 Strong Buy 0.19 -0.06 1.55 8.39 2.90 0.16 2.41 0.85HYG iShares iBoxx $ High Yield Corporate Bd 87.75 97 Strong Buy 1.83 0.93 4.25 20.69 3.22 5.40 5.19 0.47 5.95 0.50HYHG ProShares High Yield—Interest Rate Hdgd 69.33 89 Strong Buy 1.68 0.94 6.65 28.83 0.82 -0.56 7.66 0.50HYLS First Trust Tactical High Yield 48.83 91 Strong Buy 1.67 0.48 3.60 12.79 3.36 0.34 4.40 0.95HYND WTree BofA HY Bond Neg Dur 21.35 82 Buy -0.26 1.05 5.80 26.31 -0.22 0.06 -1.72 7.74 0.48HYS PIMCO 0-5 Year High Yield Corp Bd ETF 101.00 89 Strong Buy 1.61 0.90 4.08 22.19 3.42 5.60 4.13 0.19 4.90 0.55IPE SPDR® Barclays TIPS ETF 56.61 69 Hold 0.75 -0.12 0.47 3.57 1.90 0.49 0.14 1.19 4.25 0.15ITR SPDR® Barclays Interm Term Corp Bd ETF 33.94 86 Strong Buy 0.31 0.01 -0.16 4.12 2.60 2.89 2.73 0.81 2.59 0.12IUSB iShares Core Total USD Bond Market 50.20 77 Buy 0.08 -0.02 -0.08 2.84 2.44 0.08JNK SPDR® Barclays High Yield Bond ETF 36.98 93 Strong Buy 1.94 1.02 4.65 22.95 2.59 5.09 5.41 0.44 6.61 0.40LQD iShares iBoxx $ Invst Grade Crp Bond 117.11 93 Strong Buy 0.21 -0.30 0.20 6.60 3.67 3.72 3.47 1.50 4.95 0.15LWC SPDR® Barclays Long Term Corp Bd ETF 39.72 85 Sell -0.02 -0.79 1.19 11.21 5.70 4.89 4.37 2.38 8.02 0.12MBB iShares MBS 106.12 85 Buy -0.03 -0.20 -0.87 -0.36 2.29 1.62 1.89 0.65 2.09 0.29MBG SPDR® Barclays Mortgage Backed Bond ETF 26.17 82 Hold -0.18 -0.48 -0.67 -0.75 2.21 1.54 2.05 0.64 2.08 0.20MINT PIMCO Enhanced Short Maturity Active ETF 101.47 85 Strong Buy 0.27 0.24 0.45 2.31 1.07 1.14 1.24 0.01 0.38 0.35SCHO Schwab Short-Term US Treasury 50.40 72 Hold 0.04 0.06 -0.02 0.07 0.55 0.48 1.12 0.22 0.77 0.06SCHP Schwab US TIPS 55.21 80 Hold 0.67 -0.05 0.61 3.55 1.81 0.53 1.70 1.12 4.02 0.07SCHR Schwab Intermediate-Term US Trs 53.31 75 Sell 0.06 -0.26 -0.81 -2.06 1.83 1.25 1.95 1.10 3.44 0.06SCPB SPDR® Barclays Short Term Corp Bd ETF 30.56 88 Strong Buy 0.24 0.18 0.49 2.41 1.28 1.53 1.85 0.23 0.89 0.12SJNK SPDR® Barclays Short Term Hi Yld Bd ETF 28.01 86 Strong Buy 1.68 0.95 4.04 21.70 2.23 5.23 0.18 5.25 0.40SRLN SPDR® Blackstone / GSO Senior Loan ETF 47.42 84 Strong Buy 0.18 0.03 1.57 8.83 2.20 3.87 -0.02 2.73 0.70TIP iShares TIPS Bond 113.90 79 Hold 0.65 -0.07 0.62 3.54 1.76 0.48 1.12 4.02 0.20VTIP Vanugard Short-Term Infl-Prot Secs 49.35 73 Hold 0.37 0.22 0.68 3.06 0.44 0.32 1.76 0.07

gOVernMenT BOnDSBSV Vanguard Short-Term Bond ETF 79.51 80 Strong Buy 0.20 0.01 -0.11 0.46 1.11 1.07 1.63 0.44 1.39 0.09CSJ iShares 1-3 Year Credit Bond 105.02 85 Strong Buy 0.20 0.14 0.37 1.72 1.04 1.29 1.65 0.23 0.84 0.20EDV Vanguard Extended Duration Treasury ETF 109.46 57 Sell 0.04 -2.56 -2.32 -10.88 9.41 4.03 3.12 5.41 17.44 0.07GBF iShares Government/Credit Bond 112.10 82 Hold 0.25 -0.41 -0.50 0.35 2.41 1.86 2.35 1.16 3.44 0.20GVI iShares Interm Government/Credit Bd 109.75 74 Hold 0.06 -0.14 -0.29 0.47 1.61 1.49 1.88 0.74 2.21 0.20HYD VanEck High-Yield Municipal ETF 30.17 87 Strong Buy 2.05 0.42 2.89 1.57 6.21 4.66 4.61 1.35 4.76 0.35IEF iShares 7-10 Year Treasury Bond 104.48 75 Hold -0.16 -0.70 -1.44 -3.85 2.79 1.66 2.23 1.72 5.29 0.15IEI iShares 3-7 Year Treasury Bond 122.36 74 Hold -0.01 -0.23 -0.64 -1.54 1.59 1.14 1.72 0.95 3.01 0.15ITE SPDR® Barclays Intermediate Term Trs ETF 59.58 73 Hold -0.02 -0.22 -0.55 -1.29 1.19 0.90 1.59 0.73 2.31 0.10ITM VanEck Intermediate Muni ETF 23.29 79 Hold 0.63 -0.87 -0.15 -2.47 3.29 2.39 2.11 1.30 4.33 0.24MLN VanEck Long Municipal ETF 19.35 80 Hold 0.21 -0.96 0.31 -1.92 5.38 3.38 3.14 1.56 5.25 0.24MUB iShares National AMT-Free Muni Bond 107.89 78 Buy -0.08 -0.97 -0.33 -1.48 3.08 1.64 2.02 0.98 3.24 0.25PLW PowerShares 1-30 Laddered Treasury ETF 31.81 74 Sell 0.11 -1.01 -1.22 -4.62 4.05 2.11 2.17 2.23 6.93 0.25PRB VanEck Pre-Refunded Muni ETF 24.39 67 Hold 0.89 0.36 0.26 -0.80 0.56 0.24 0.69 0.26 1.05 0.24PWZ PowerShares Calif AMT-Free Muni Bd ETF 25.17 83 Hold -0.19 -1.30 0.16 -0.92 5.31 3.86 2.44 1.17 4.03 0.28PZA PowerShares National AMT-Free MuniBd ETF 24.85 83 Buy 0.34 -1.14 0.56 -0.40 5.35 3.67 2.60 1.10 3.75 0.28PZT PowerShares New York AMT-Free MuniBd ETF 23.73 79 Sell -0.29 -1.40 0.36 -0.75 5.46 3.13 2.31 1.07 3.86 0.28SHM SPDR® Nuveen Barclays ST Muni Bd ETF 48.25 72 Hold 0.73 0.27 0.27 -0.82 0.68 0.78 1.18 0.41 1.60 0.20SHV iShares Short Treasury Bond 110.35 65 Buy 0.08 0.03 0.16 0.39 0.17 0.11 0.50 0.01 0.10 0.15SHY iShares 1-3 Year Treasury Bond 84.42 81 Strong Buy 0.02 0.01 -0.06 0.03 0.51 0.45 1.04 0.22 0.78 0.15SMB VanEck Short Municipal ETF 17.42 70 Hold 1.06 -0.16 0.78 -0.18 0.72 0.79 0.99 0.44 1.71 0.20SMMU PIMCO Short Term Municipal Bond Actv ETF 50.26 67 Buy 1.83 0.58 0.44 0.46 0.81 0.72 1.21 0.26 1.01 0.35SUB iShares ST National AMTFree Muni Bnd 105.39 70 Hold 0.37 0.05 0.46 -0.20 0.48 0.59 0.94 0.25 0.98 0.25


Beta 3 Year

sD 3 Year


14 FeBRuARY 2017 | PhOne: (888) 252-5372


gOVernMenT BOnDS (continued)TLH iShares 10-20 Year Treasury Bond 132.87 80 Hold 0.10 -0.84 -1.58 -4.66 4.19 2.30 2.40 2.09 6.42 0.15TLO SPDR® Barclays Long Term Treasury ETF 68.76 72 Sell 0.02 -1.65 -1.71 -7.19 5.95 2.74 2.91 3.45 10.88 0.10TLT iShares 20+ Year Treasury Bond 118.97 71 Sell 0.07 -1.72 -1.75 -7.33 6.47 2.98 2.89 3.66 11.61 0.15

inTernATiOnAL BOnDSALD WisdomTree Asia Local Debt ETF 43.95 59 Sell 3.30 0.63 0.16 2.91 -0.90 -1.37 0.02 1.01 6.63 0.55AUNZ WisdomTree Australia & NZL Dbt ETF 18.29 54 Sell 7.36 2.66 2.28 10.67 -0.54 -1.93 0.02 1.03 10.12 0.30BNDX Vanguard Total International Bond 53.78 81 Buy -0.86 -0.38 -0.43 2.20 4.02 0.74 0.84 2.92 0.15BWX SPDR® Barclays International Trs Bd ETF 26.12 71 Sell 0.54 -0.23 -1.99 -2.99 -3.23 -1.62 0.69 1.41 7.57 0.50ELD WisdomTree Emerging Markets Lcl Dbt ETF 37.34 62 Sell 4.80 3.56 5.99 14.74 -1.61 -2.39 0.06 1.64 10.78 0.55EMB iShares JPMorgan USD Emerg Markets Bond 112.98 82 Sell 2.91 1.13 3.77 13.14 6.15 4.88 4.92 1.30 6.15 0.40EMCB WisdomTree Emerging Markets Corp Bd ETF 71.59 81 Hold 3.24 1.87 3.70 15.45 3.35 0.05 0.76 6.73 0.60IBND SPDR® Barclays International Corp Bd ETF 30.88 70 Hold 0.00 -0.26 -0.63 -2.75 -5.35 -0.32 0.43 0.59 8.02 0.50ILB PIMCO Global Advtg Infl-Lkd Bd Actv ETF 43.02 60 Sell 2.81 2.64 3.78 9.60 -1.63 1.21 1.17 8.02 0.61LEMB iShares Emerg Mkts Local Currency Bond 45.00 69 Sell 5.02 3.57 5.36 12.05 -1.35 -1.27 3.79 1.64 10.32 0.50PCY PowerShares Emerging Markets Sov Dbt ETF 28.84 84 Sell 2.94 0.85 3.51 12.86 7.53 5.85 5.36 1.79 7.08 0.50WIP SPDR® DB Intl Govt Inflation-Prot Bd ETF 54.05 74 Sell 3.90 2.74 3.39 6.56 -1.11 0.04 0.69 1.30 8.17 0.50

CurrenCyBZF WisdomTree Brazilian Real Strategy ETF 18.64 56 Sell 9.39 7.00 13.24 47.12 2.52 -2.69 132.92 18.44 0.45CEW WisdomTree Emerging Currency Strat ETF 18.15 63 Sell 3.77 2.95 3.54 9.34 -3.07 -2.77 63.85 7.98 0.55CYB WisdomTree Chinese Yuan Strategy ETF 24.09 71 Sell 3.57 1.35 1.39 -1.87 -1.83 -0.03 37.00 4.22 0.45DBV PowerShares DB G10 Currency Harvest ETF 25.88 74 Sell 4.31 2.33 1.45 14.41 0.53 0.61 36.97 7.42 0.75FXA CurrencyShares® Australian Dollar ETF 77.21 67 Sell 7.14 2.97 2.35 9.68 -3.81 -4.65 28.87 10.48 0.40FXB CurrencyShares® British Pound Ster ETF 121.47 53 Sell 1.01 2.14 -0.15 -14.46 -9.70 -4.84 -18.10 8.96 0.40FXC CurrencyShares® Canadian Dollar ETF 75.56 61 Sell 2.70 0.36 2.75 5.65 -5.78 -5.25 69.76 9.36 0.40FXE CurrencyShares® Euro ETF 102.88 49 Sell 0.61 -0.42 -1.36 -6.53 -8.73 -4.58 5.23 8.44 0.40FXF CurrencyShares® Swiss Franc ETF 94.82 74 Hold 1.16 0.24 -0.67 -3.93 -4.77 -2.37 15.89 9.13 0.40FXS CurrencyShares® Swedish Krona ETF 108.28 50 Sell 1.82 -0.30 2.41 -6.73 -11.15 -5.86 -7.40 9.21 0.40FXY CurrencyShares® Japanese Yen ETF 84.50 58 Sell 2.40 0.39 -4.39 -1.15 -4.13 -7.62 34.65 11.16 0.40ICN WisdomTree Indian Rupee Strategy ETF 22.05 71 Sell 2.32 1.15 2.80 7.13 2.93 0.18 8.07 5.95 0.45UDN PowerShares DB US Dollar Bearish ETF 20.71 46 Sell 1.22 0.19 -1.24 -5.86 -8.55 -5.24 5.22 7.70 0.75USDU WisdomTree Bloomberg USD Bullish ETF 27.53 87 Hold -1.57 -1.33 0.55 1.77 5.99 -23.89 6.71 0.50USRT iShares Core US REIT 49.32 84 Sell 1.13 0.67 6.55 21.12 10.68 9.83 3.15 0.61 14.04 0.08UUP PowerShares DB US Dollar Bullish ETF 26.10 84 Hold -1.36 -0.23 0.85 4.74 6.69 3.28 -6.72 7.45 0.75

inVerSe & LeVerAgeDBDD PowerShares DB Base Metals Dble Long ETN 7.98 24.83 7.36 13.07 96.18 -1.32 -8.74 0.74 31.67 0.75BOIL ProShares Ultra Bloomberg Natural Gas 11.95 -36.97 -23.35 3.02 -5.46 -60.58 -45.87 1.84 63.84 0.90BOM PowerShares DB Base Metals Dble Shrt ETN 10.89 -21.65 -15.58 -33.80 -54.63 -7.39 -1.89 0.65 31.63 0.75BOS PowerShares DB Base Metals Short ETN 19.65 -12.08 -12.08 0.15 -28.65 8.46 -0.31 0.32 15.80 0.75DAG PowerShares DB Agriculture Dble Long ETN 4.11 18.08 6.18 16.74 35.93 -18.03 -17.00 1.26 38.16 0.75DDM ProShares Ultra Dow30 91.08 9.03 7.97 19.61 70.84 19.78 23.54 2.02 21.92 0.95DGP PowerShares DB Gold Double Long ETN 22.94 14.02 5.13 -0.57 -6.06 -8.53 -16.76 0.41 32.46 0.75DGZ PowerShares DB Gold Short ETN 14.27 -7.06 -3.11 -1.25 -1.04 -0.05 4.35 0.19 16.22 0.75DIG ProShares Ultra Oil & Gas 40.76 -6.54 -3.82 4.24 66.23 -13.56 -3.02 2.23 39.32 0.95DOG ProShares Short Dow30 18.20 -4.41 -3.91 -8.91 -25.44 -11.90 -13.16 -0.94 10.25 0.95DTO PowerShares DB Crude Oil Double Shrt ETN 110.57 5.34 0.84 -16.80 -55.19 48.07 23.12 3.14 66.35 0.75DUG ProShares UltraShort Oil & Gas 39.47 5.48 3.11 -7.24 -50.45 -8.68 -15.19 -1.91 37.91 0.95DXD ProShares UltraShort Dow30 12.95 -8.67 -7.70 -17.09 -44.75 -23.11 -25.19 -1.84 20.01 0.95DZZ PowerShares DB Gold Double Short ETN 5.93 -13.49 -5.65 -2.79 -4.51 -2.05 6.69 0.37 32.44 0.75EEV ProShares UltraShort MSCI Emerging Mkts 13.37 -18.57 -10.33 -21.12 -51.79 -15.18 -12.29 -1.81 30.49 0.95EFU ProShares UltraShort MSCI EAFE 32.97 -8.67 -2.69 -12.94 -35.12 -7.78 -17.76 -1.81 22.93 0.95EFZ ProShares Short MSCI EAFE 30.42 -4.70 -1.55 -7.09 -18.71 -3.01 -8.49 -0.92 11.62 0.95EUM ProShares Short MSCI Emerging Markets 22.54 -9.70 -5.29 -11.12 -29.41 -6.43 -4.94 -0.93 15.49 0.95EUO ProShares UltraShort Euro 26.72 -1.33 0.79 2.53 12.60 15.91 6.15 -2.74 16.98 0.95EWV ProShares UltraShort MSCI Japan 37.65 -9.24 -1.36 -9.06 -41.39 -19.07 -21.74 -1.43 22.79 0.95FXP ProShares UltraShort FTSE China 50 27.07 -20.48 -11.42 -17.34 -54.21 -26.51 -21.49 -2.10 39.79 0.95INDL Direxion Daily India Bull 3X ETF 56.70 26.20 15.24 26.56 64.63 5.89 -14.63 2.39 54.11 1.13LBJ Direxion Daily Latin America Bull 3X ETF 122.50 56.83 33.00 54.51 241.79 -22.97 -30.92 3.35 82.97 1.03MVV ProShares Ultra MidCap400 102.76 9.04 5.64 18.29 88.65 17.74 25.05 2.09 24.81 0.95MZZ ProShares UltraShort MidCap400 23.44 -9.66 -7.31 -17.63 -51.94 -23.50 -28.34 -1.96 23.49 0.95PSQ ProShares Short QQQ 43.33 -8.39 -4.77 -10.53 -26.58 -15.24 -17.14 -1.12 13.14 0.95PST ProShares UltraShort 7-10 Year Treasury 22.63 0.27 1.42 2.91 6.95 -7.52 -5.70 -3.41 10.50 0.95QID ProShares UltraShort QQQ 20.08 -16.09 -9.35 -20.10 -46.75 -29.35 -32.37 -2.17 25.50 0.95QLD ProShares Ultra QQQ 102.16 18.63 9.96 23.61 72.23 25.74 32.10 2.45 28.55 0.95REK ProShares Short Real Estate 17.12 -1.90 -1.51 -6.97 -20.35 -11.71 -11.81 -0.69 13.39 0.95RUSL Direxion Daily Russia Bull 3X ETF 105.88 4.83 1.34 55.45 236.77 -42.33 -38.38 3.87 86.71 1.03


Beta 3 Year

sD 3 Year



A Comparison of Consum-er Discretionary ETFsMConsumer discretionary exchange-traded funds (ETFs) offer investors low-cost exposure to companies such as luxury goods retailers, fast food restaurants, and home improvement stores that rely on optional consumer spending. The consumer discretionary sector has a history of outperforming the market during the early stages of business cycles. It underperforms as the cycle matures and during recessions. In De-cember 2016, the University of Michigan con-sumer sentiment survey reached its highest level in 10 years due to postelection optimism. Recent labor and unemployment reports reflect a strong job market, which also contributes to consumer confidence and additional spending. The five-star Morningstar-rated iShares U.S. Consumer Services ETF (IYC) and the four-star-rated Con-sumer Discretionary Select Sectors SPDR (XLY) and Vanguard Consumer Discretionary (VCR) ETFs are three reasonable options for investors seeking consumer discretionary sector exposure.

Fund InvesTMenT sTRATeGIesWith $812 million in assets under management (AUM), IYC is the smallest of the three funds. It uses a market capitalization–weighted exposure to domestically domiciled companies that primar-

ily depend on discretionary consumer spending. The fund seeks to track the highly diverse Dow Jones U.S. Consumer Services Index, which con-tains 185 individual names. Managers will invest 90 percent of assets in securities and depository receipts representing the stocks contained within the underlying benchmark. With a 77 percent ex-posure, the index is weighted toward giant- and large-cap high-quality names. There is also an 18.3 percent exposure to mid-cap shares.

Following a full replication strategy, XLY at-tempts to track the 13 percent of companies that compose the consumer discretionary sector of the broader S&P 500 Index. Individual stocks are in-cluded in the portfolio based on the assignment rules for the S&P 500 and are added or removed from the ETF when the index is reconstituted. With slightly more than $12 billion in AUM, XLY is the largest of the funds. It is heavily weighted toward quality names.

The passively managed VCR also uses a full rep-lication strategy as it seeks to track the returns of the benchmark MSCI US Investable Market Consumer Discretionary Index, an index com-posed of variably sized U.S. companies. Fund managers invest substantially all AUM in stocks contained within the index. The $2.1 billion fund holds stocks in the same weighting as the under-lying benchmark.

Fund sIMIlARITIes And dIFFeRencesIYC has a 98.77 percent exposure to domestic shares and a 1.1 percent allocation to stocks in Developed Europe. Its cash position is negli-gible. IYC is underweight consumer cyclical shares and slightly overweight the industrial, consumer defensive and healthcare sectors when compared with its benchmark. The fund has a price/earnings (P/E) ratio of 20.31 and a price-to-book of 3.95.

XLY has a greater than 99 percent exposure to domestic stocks. Fund managers hold consumer cyclical, communications services, and con-sumer defensive shares in the same weighting as its benchmark. In addition to a price-to-book of 4.21, XLY has a 19.3 P/E ratio.

With more than 97 percent of AUM allocated to domestic shares, VCR holds a small 1.5 percent exposure to international stocks domiciled in Greater Europe. The remainder is held in cash. The fund holds consumer cyclical, communica-tion services, and consumer defensive stocks in the same weighting as its benchmark. VCR has a P/E ratio of 18.82 and a price-to-book of 4.3.

All three funds’ holdings overlap significantly. XLY shares 71 percent of its holdings with IYC.

RWM ProShares Short Russell2000 47.16 -3.68 -2.56 -8.16 -34.24 -11.47 -15.14 -1.18 15.60 0.95RXL ProShares Ultra Health Care 68.93 14.63 7.87 10.38 35.89 15.73 33.17 2.01 26.34 0.95SAA ProShares Ultra SmallCap600 83.96 3.34 3.22 17.62 102.84 18.79 27.49 2.24 30.25 0.95SBB ProShares Short SmallCap600 38.39 -2.29 -2.54 -8.05 -33.12 -13.40 -16.18 -1.07 14.44 0.95SCO ProShares UltraShort Bloomberg Crude Oil 33.02 4.30 0.09 -23.75 -65.16 29.99 12.86 3.46 71.62 0.95SDOW ProShares UltraPro Short Dow30 35.67 -12.74 -11.36 -24.68 -59.52 -34.07 -36.53 -2.68 29.25 0.95SDS ProShares UltraShort S&P500 13.68 -9.46 -6.56 -14.87 -41.56 -22.75 -27.22 -1.87 19.56 0.90SEF ProShares Short Financials 13.29 -4.80 -3.77 -9.65 -31.35 -13.72 -17.01 -1.03 12.41 0.95SH ProShares Short S&P500 34.79 -4.79 -3.36 -7.62 -23.30 -11.66 -14.31 -0.95 9.99 0.89SJB ProShares Short High Yield 24.20 -1.79 -0.94 -4.42 -18.85 -5.68 -7.87 -0.49 5.84 0.95SKF ProShares UltraShort Financials 27.73 -9.39 -7.36 -18.30 -53.47 -26.54 -32.11 -2.03 24.45 0.95SMN ProShares UltraShort Basic Materials 18.54 -12.97 -8.46 -19.20 -53.51 -18.38 -21.03 -2.64 34.32 0.95SRS ProShares UltraShort Real Estate 34.31 -3.79 -3.24 -13.84 -37.44 -23.00 -23.18 -1.36 26.36 0.95SRTY ProShares UltraPro Short Russell2000 46.69 -11.03 -7.82 -23.31 -73.52 -35.36 -42.96 -3.46 45.87 0.95SSO ProShares Ultra S&P500 83.82 10.09 6.82 16.56 61.05 18.87 26.48 2.04 21.36 0.89SZO PowerShares DB Crude Oil Short ETN 79.85 2.13 -2.38 -13.67 -30.55 26.84 15.01 1.57 33.17 0.75TBT ProShares UltraShort 20+ Year Treasury 40.62 -0.56 3.26 2.89 10.87 -17.24 -11.68 -7.18 22.85 0.93TWM ProShares UltraShort Russell2000 22.00 -7.25 -5.17 -15.90 -57.73 -23.17 -29.42 -2.34 30.89 0.95TYO Direxion Daily 7-10 Yr Trs Bear 3X ETF 15.44 0.00 2.15 3.54 7.22 -13.27 -10.50 -5.29 16.32 0.97UDOW ProShares UltraPro Dow30 108.05 13.89 12.19 30.85 120.20 27.89 34.38 3.09 33.56 0.95URE ProShares Ultra Real Estate 117.75 3.05 2.74 13.59 43.47 16.45 16.55 1.49 28.18 0.95USD ProShares Ultra Semiconductors 72.61 7.30 3.43 18.62 138.16 38.43 28.40 2.62 36.97 0.95UWM ProShares Ultra Russell2000 118.82 6.63 4.52 16.21 106.87 12.99 23.20 2.42 31.90 0.95UYG ProShares Ultra Financials 101.19 9.49 7.25 20.68 93.91 21.47 31.19 2.15 25.89 0.95UYM ProShares Ultra Basic Materials 56.01 14.10 8.57 21.82 89.11 5.77 8.98 2.86 36.46 0.95XPP ProShares Ultra FTSE China 50 58.03 24.66 12.20 18.33 79.94 5.22 -0.23 2.21 42.20 0.95YCS ProShares UltraShort Yen 76.13 -5.13 -1.26 8.54 -1.88 4.92 12.46 -51.33 22.82 0.95YINN Direxion Daily FTSE China Bull 3X ETF 20.76 38.58 18.83 27.28 120.15 -4.10 -3.39 3.32 63.62 1.04

inVerSe & LeVerAgeD (continued)

(continued on page 16)


Beta 3 Year

sD 3 Year



While IYC concentrates 44 percent of AUM in its top 10 holdings, VCR has a 42 percent con-centration. XLY allocates 54 percent of its assets to largest 10 positions. The top 10 common hold-ings in all three funds include Amazon (AMZN), Comcast (CMCSA), Home Depot (HD), Walt Disney (DIS), McDonald’s (MCD), Starbucks (SBUX), and Priceline (PCLN). While IYC invests in Wal-Mart (WMT), CVS (CVS), and Costco (COST), XLY has Nike (NIKE), Time Warner (TWX), and Charter Communications (CHTR). VCR also holds Nike and Time War-ner, as well as Lowes (LOW). While media firms constitute 26 percent of XLY and 23.7 percent of IYC, they are only 14 percent of VCR.

Although most of the funds’ holdings are U.S.-based, many have significant overseas oper-ations, which increases exposure to lingering macroeconomic factors in Europe and China. With approximately 200 more individual hold-ings than IYC, VCR’s extra holdings represent only 5.1 percent of AUM.

hIsTORIcAl PeRFORMAnces, RIsks, And FeesXLY has the high Morningstar return rating, while IYC and VCR ETFs garner above-aver-age ratings. XLY has the highest 12-month yield at 1.64 percent, followed by VCR’s 1.54 percent and IYC’s 1.06 percent.

XLY has an average risk rating, a three-year beta of 1.01, and a 12.62 standard deviation. VCR also has an average risk rating and features a 1.01 beta and a 12.56 standard deviation. Earn-

ing a below-average risk rating, IYC has a 0.93 beta and an 11.76 standard deviation over the same period. The category three-year beta and standard deviation averages are 0.95 and 13.3, respectively. IYC keeps volatility lower by holding some nondiscretionary retailers within its portfolio.

With a 0.44 percent expense ratio, IYC charges substantially more than many of its competitors. It has also lagged its benchmark by 48 basis points since its June 2000 inception. In compar-ison, VCR has a 0.1 percent expense ratio, the second lowest of any large consumer discretion-ary ETF. This ETF trailed its benchmark by just eight basis points in 2016. Lagging its bench-mark by 18 basis points, XLY charges a slightly higher 0.14 percent expense ratio.suITABIlITY And RecOMMendATIOnsThe consumer discretionary sector is generally more volatile than the broader market. Because of their narrow focus, greater volatility, and high sector concentration, these ETFs are a suitable satellite holding of a well-diversified portfolio when employment rates, income, and consumer confidence are on the rise.

Although these three funds are very similar, they

do differentiate themselves. IYC has the lowest correlation and lowest volatility of the three, and it did hold up best during the financial collapse of 2008. However, it also offers the lowest yield and has the highest expense ratio. The high cost can drag on returns over the long term.

VCR has the broadest portfolio, lowest ex-penses, and lowest tracking error, and a solid yield. VCR historically performs best during the most bullish of years, when its small- and mid-cap exposures deliver an upside kick. An investor confident in the consumer discretionary sector as well as the overall stock market should gravitate toward VCR.

As the lowest-cost fund, XLY has the highest yield and heavy large-cap exposure. Even after adjusting for assets and share price, XLY’s trad-ing volume is about 10 times that of VCR, as the latter attracts long-term buy-and-hold investors.

We have currently issued Buy recommendations for XLY and IYC, with rankings of 90 and 88, respectively. Both are solid alternatives. Given the positive outlook for the remainder of 2017, our choice is VCR, which we have upgraded to a Strong Buy recommendation with a ranking of 93. This fund should outperform its competitors on a relative basis, while charging a lower fee.

Mds Wealth Advisors: A New Private Service from Matthew Sauer

Over the years it has been our pleasure to provide you with responsible and timely investment advice, and we genuinely appreciate your loyalty to our newsletter. Since we began publishing our investment recommendations, we have been frequently asked to provide dedicated wealth management.Due to the numerous inquiries and requests, I am incredibly pleased to announce we are now offering private wealth management services through MDS Wealth Advisors. Our objective is simple. We want to help our subscribers tailor their portfolios to their specific investment objectives. I will personally work with each member to build an investment portfolio that is aligned with their goals and risk tolerances. If you are considering a wealth manager or are concerned about who will oversee your investments if you are unable, I would welcome the opportunity to discuss our services.If you are interested in utilizing our new service, call me directly at (844) 336-9878 and I will answer any questions you have. If email is more convenient, you can reach me anytime at: [email protected].

DisclosurE: Mutual Fund Investor Guide, LLC (MFIG) is an independent company unaffiliated with any of the fund companies discussed in this newsletter, including Vanguard and Fidelity Investments. These results include the reinvestment of all dividends and capital gains. Model trading does not involve financial risk; model trading cannot completely duplicate the financial risk associated with actual trading. MFIG is not an investment advisor and does not provide specific investment advice. This newsletter has been prepared solely for informational purposes. PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. All investments involve risk including total loss of principal.

16 FeBRuARY 2017 | PhOne: (888) 252-5372

THE ETF Investor Guide

A Comparison of Consumer Discretionary ETFs (continued)

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FunD reTurnS 1-yeAr 3-yeAr 5-yeAr

Consumer Discretionary Select Sectors SPDR (XLY) 27.22 11.90 16.92iShares U.S. Consumer Services (IYC) 24.89 11.35 16.83Vanguard Consumer Discretionary (VCR) 28.63 10.79 16.29Morningstar Category Average returns 23.90 6.94 12.86

MUTUAL FUND Investor Guide THE ETF Investor Guide · 2017. 2. 22. · advanced 3.56 percent over...

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