TheStreet.com Initiates Ratings on 24 ETFs
TheStreet.com Ratings initiated coverage of one closed-end fund and 24 exchange-traded funds that accrued a sufficient track record of risk and performance data by the end of November.
Only one of the funds that began trading in November 2007 received our top rating level of Excellent. The PowerShares VRDO Tax-Free Weekly Portfolio (PVI) rating of A+ characterizes the small but steady gains of its municipal bond securities.
The six exchange-traded funds with extraordinary one-year returns picked the right year to be short the market with as much as 200% negative leverage to their slice of world equities. These performances were balanced out with equally extraordinary volatility, landing them back in the middle of the risk-adjusted return rankings for hold ratings in the C+ to C- range.
The biggest gains were 38.45% in ProShares Short MSCI Emerging Markets (EUM), 85.08% in Rydex Inverse 2x S&P MidCap 400 ETF (RMS), 84.28% in Rydex Inverse 2x S&P 500 ETF (RSW), 64.27% in Rydex Inverse 2x Russell 2000 ETF (RRZ) and 47.32% in ProShares UltraShort MSCI Japan (EWV).This month there was also one closed-end fund, Nuveen Municipal High Income Opportunity Fund 2 (NMD) accumulating a sufficient track record to receive an initial rating of D- after losing 35.97% in a year.
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. The funds listed below have reached their one year anniversary.
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