TheStreet.com Rates 37 New ETFs
TheStreet.com Ratings initiated coverage of 37 exchange-traded funds that accrued a sufficient track record of risk and performance data by the end of April 2008.
Two of the funds that opened for business as recently as April of 2007 received our top rating level of Excellent. Both of these are Vanguard exchange-traded funds invested in fixed income securities.
For these Vanguard funds, the intermediate term refers to U.S. government debt and investment grade corporate debt for American and foreign issuers in the five to 10 year maturity range. The short-term variant is limited to just one to five year maturities. Both funds track corresponding Lehman Brothers Government/Credit indices.Of the 10 funds where coverage was initiated at the Hold level, the SPDR S&P China ETF (GXC) stands out, with a one-year total return of 46.19%. Excessive volatility neutralized this impressive return, leading to the C rating. New coverage in the Sell range includes the wide variety of HealthShares that I first wrote about back in March 2007. With an initial rating of E, investors in the HealthShares Ophthalmology ETF (HHZ) are seeing red after losing 40.20% in a year. Over the same period, the holdings providing the worst of the damage include ISTA Pharmaceuticals Inc (ISTA), off 77.25%; LCA-Vision Inc (LCAV), off 75.12%; TLC Vision Corp (TLCV), off 74.70%; and Opko Health Inc (OPK), off 65.21%. Also, speculators expecting fat returns from the E- rated HealthShares Metabolic-Endocrine Disorders ETF (HHM) ought to be roundly disappointed with a loss of 36.55%. The one-year loss of 89.61% from Nastech Pharmaceutical (NSTK), 82.12% loss in shares of MannKind (MNKD), and 72.18% drop in Altus Pharmaceuticals (ALTU) contributed most to the investor account shrinkage.
Research MethodologyTheStreet.com Ratings condenses the available fund performance and risk data into a single composite opinion of each fund's risk-adjusted performance. This allows the unbiased identification of those funds that have historically done well and those that have underperformed the market. While there is no guarantee of future performance, these investment ratings provide a solid framework for making informed, timely investment decisions.
|Newly Rated ETFs for April|
|Fund (Ticker) Rating||Total Return 1 Year %||Yield %||Exp Ratio %||Objective|
|iShares Lehman MBS Fixed-Rate Bond (MBB) B||6.49||3.78||0.25||General Mortgage|
|Vanguard Intermediate Term Bond ETF (BIV) A||7.97||4.69||0.11||General Bd - Investment Grade|
|Vanguard Long-Term Bond ETF (BLV) B||5.53||5.42||0.11||General Bd - Investment Grade|
|Vanguard Short Term Bond ETF (BSV) A||7.64||4.00||0.11||General Bd - Investment Grade|
|Vanguard Total Bond Market ETF (BND) B||7.03||4.66||0.11||General Bd - Investment Grade|
|Average for "BUY" Range||6.93||4.51||0.14|
|iShares iBoxx $ High Yld Corp (HYG) C+||2.09||7.75||0.50||Corporate - High Yield|
|Market Vectors TR Russia ETF (RSX) C||28.39||0.22||0.69||Non-US Equity|
|PowerShares DWA Technical Leaders (PDP) C-||1.36||0.38||0.71||Equity Income|
|ProShares Ultra Sht Rus Mid Cap Val (SJL) C-||25.73||2.14||0.95||Growth - Domestic|
|SPDR S&P China ETF (GXC) C||46.19||0.77||0.59||Non-US Equity|
|SPDR S&P Emerging Asia Pacific ETF (GMF) C-||30.79||1.24||0.63||Emerging Market Equity|
|SPDR S&P Emerging Latin America ETF (GML) C+||41.87||1.07||0.60||Emerging Market Equity|
|SPDR S&P Emerging Markets ETF (GMM) C||27.64||0.87||0.60||Emerging Market Equity|
|United States Natural Gas Fund (UNG) C-||-1.66||0.00||0.60||Sector - Energy/Natural Res|
|Vanguard FTSE All-World ex-US ETF (VEU) C-||3.86||0.89||0.25||Global Equity|
|Average for "HOLD" Range||20.63||1.53||0.61|
|Claymore Robeco Developed Intl Eq (EEN) D-||-4.58||3.83||1.32||Non-US Equity|
|Claymore/Great Comp Lrg-Cp Grth Ind (XGC) D-||-10.75||0.81||1.77||Growth - Domestic|
|Claymore/Ocean Tomo Grth Index ETF (OTR) E+||-1.71||0.66||2.03||Growth - Domestic|
|Claymore/Zacks Mid Cap Core ETF (CZA) D||-6.57||0.39||1.81||Growth - Domestic|
|HealthShares Autoimmune-Inflammatio (HHA) E-||-18.53||0.54||0.79||Sector - Health/Biotechnology|
|HealthShares Cancer (HHK) E||2.84||0.00||0.78||Sector - Health/Biotechnology|
|HealthShares Cardiology (HRD) D||-3.58||0.00||0.79||Sector - Health/Biotechnology|
|HealthShares Composite Fund (HHQ) E+||-10.40||0.47||0.79||Sector - Health/Biotechnology|
|HealthShares Dermatology and Wound (HRW) E-||-11.34||0.00||0.79||Sector - Health/Biotechnology|
|HealthShares European Drugs (HRJ) E-||-12.95||0.00||0.99||Sector - Health/Biotechnology|
|HealthShares GI/Gender Hlth Fund (HHU) E+||-27.12||0.53||0.79||Sector - Health/Biotechnology|
|HealthShares Infectious Dis (HHG) E-||-26.93||0.00||0.79||Sector - Health/Biotechnology|
|HealthShares Metabolic Endocr Disor (HHM) E-||-36.55||0.44||0.79||Sector - Health/Biotechnology|
|HealthShares Neuroscience (HHN) E||-9.81||0.00||0.79||Sector - Health/Biotechnology|
|HealthShares Ophthalmology (HHZ) E||-40.20||0.00||0.79||Sector - Health/Biotechnology|
|HealthShares Respiratory/Pulmonary (HHR) E+||-25.99||5.37||0.79||Sector - Health/Biotechnology|
|iShares S&P U.S.Preferred Stock Ind (PFF) D-||-4.48||6.83||0.48||Equity Income|
|NYSE Arca Tech 100 ETF (NXT) D-||-5.11||0.00||0.00||Equity Income|
|SPDR S&P Emerg Middle East&Africa (GAF) E+||3.14||1.49||0.59||Emerging Market Equity|
|SPDR S&P Emerging Europe ETF (GUR) E||7.26||0.58||0.60||Emerging Market Equity|
|SPDR S&P International Small Cap (GWX) E||-7.34||0.94||0.59||Non-US Equity|
|SPDR S&P WORLD EX-US ETF (GWL) D+||-0.85||1.79||0.35||Global Equity|
|Average for "SELL" Range||-11.43||1.12||0.87|
|Source: TheStreet.com Ratings|
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