2016 Year-End Review Of ETFs With Forward Standouts

This is a review of all ETF’s at year-end 2016 with a focus on liquidity, intermediate trend condition, and fundamental valuation, excluding commodity, currency and inverse ETF’s.

  • Out of 1605 ETFs, 132 have 2+ years of operations, are liquid, have fundamental data, and are intermediate-term uptrends
  • Among equity ETFs, 31 have price-to-cash flow rations of 10 or less
  • Among country funds, Russia, Canada and Brazil stand out favorably
  • Among US dividend ETFs, 4 dividend ETFs stand out favorably
  • Among short-term investment grade US bond ETFs, 4 survive the filter
  • Among US junk bond ETFs, 4 survive the filter

Our database has 1605 ETF’s.

Of those, our QVM 4-factor trend indicator identifies 1271 ETF’s with sufficient history (28 months) to be measured. Given the large number of choices we have today with ETF’s, it seems reasonable to require a couple of years of operating history (see explanation of the QVVM 4-factor trend indicator here).

We’d like to look at equity ETF’s, bond ETF’s or hybrid equity bond ETF’s; leaving commodity, currency and inverse ETF’s aside for this review. ETF’s which lack a price-to-book ratio or bond duration virtually eliminates commodity, currency and inverse ETF’s.

Of the 1271 ETF’s, there are 879 for which MorningStar has either a price-to-book ratio, or a bond duration. For ETF’s lacking either of those metrics, we would prefer not to review them further. If MorningStar can’t identify one of those two attributes, there would not be enough information for us to draw a reasonable fundamental conclusion, upon further research.

Of the 879, there are 753 with equity positions, because they have a price-to-book ratio. There are 145 with bond positions, because they have a bond duration attribute. There are 19 ETF’s that have both a price-to-book ratio and a bond duration suggesting they are hybrid funds.

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