Morningstar Advisor - June/July 2009 - 70

By the Numbers: ETFs 50 Most Popular Equity ETFs Morningstar’s analysis of exchange-traded funds now harnesses the rigorous, bottom-up research that our 100-plus equity analysts conduct in order to estimate the fair value of stock ETFs. By comparing our fair value estimate for an ETF’s portfolio with the fund’s market price, we can better gauge whether an ETF is cheap, dear, or reasonably priced. In so doing, we can help you profit from inviting opportunities as they arise. The table lists the 50 most popular equity ETFs, ranked by assets under management. A Morningstar Valuation Rating of Undervalued means the ETF is trading at a significant discount to our estimate of its intrinsic worth. A rating of Overvalued means the ETF is trading at a significant premium to our fair value estimate. We rate Fairly Valued any ETF that trades in between. The fair value estimate is the aggregate, asset-weighted fair value of the stocks in an ETF portfolio that are under coverage by Morningstar equity analysts, divided by the ETF’s shares outstanding. Depending on the coverage rate, the fair value estimate may not include all of the stocks in the portfolio. As such, when calculating our estimate, we assume that all stocks not under coverage are trading at fair value. Morningstar’s exchange-traded securities team analyzes the fundamental attractiveness of hundreds of ETFs. Our extensive ETF research is available in Morningstar Principia, Advisor Workstation, and our new Analyst Research Centers. Name Morningstar Category Style Box Morningstar Rating SPDRs SPY SPDR Gold Shares GLD iShares MSCI EAFE Index EFA iShares MSCI Emerging Markets Index EEM iShares S&P 500 Index IVV PowerShares QQQ QQQQ Vanguard Total Stock Market ETF VTI iShares Russell 1000 Growth Index IWF iShares Russell 2000 Index IWM iShares FTSE/Xinhua China 25 Index FXI DIAMONDS Trust, Series 1 DIA iShares Russell 1000 Value Index IWD MidCap SPDRs MDY Vanguard Emerging Markets Stock ETF VWO iShares MSCI Brazil Index EWZ Financial Select Sector SPDR XLF iShares S&P 500 Growth Index IVW iShares MSCI Japan Index EWJ Energy Select Sector SPDR XLE iShares Russell 1000 Index IWB iShares S&P MidCap 400 Index IJH iShares Russell Midcap Index IWR iShares S&P SmallCap 600 Index IJR Market Vectors Gold Miners ETF GDX iShares Silver Trust SLV iShares Russell 2000 Value Index IWN iShares Dow Jones Select Dividend Index DVY United States Oil USO Vanguard Growth ETF VUG iShares S&P 500 Value Index IVE Technology Select Sector SPDR XLK Ultra S&P500 ProShares SSO Vanguard FTSE All-World ex-US ETF VEU iShares Russell 3000 Index IWV Vanguard Europe Pacific ETF VEA iShares Russell 2000 Growth Index IWO iShares MSCI Pacific ex-Japan EPP iShares Russell Midcap Value Index IWS iShares S&P 100 Index OEF Ultra Financials ProShares UYG Vanguard Value ETF VTV Health Care Select Sector SPDR XLV Vanguard Large Cap ETF VV iShares Russell Midcap Growth Index IWP PowerShares DB Commodity Index Tracking DBC iShares MSCI Taiwan Index EWT Utilities Select Sector SPDR XLU iShares COMEX Gold Trust IAU Vanguard REIT Index ETF VNQ iShares Dow Jones US Real Estate IYR Data as of April 30, 2009 Large Blend Precious Metals Foreign Large Blend Diversified Emerging Mkts Large Blend Large Growth Large Blend Large Growth Small Blend Pacific/Asia ex-Japan Stk Large Value Large Value Mid-Cap Blend Diversified Emerging Mkts Latin America Stock Financial Large Growth Japan Stock Natural Res Large Blend Mid-Cap Blend Mid-Cap Blend Small Blend Precious Metals Precious Metals Small Value Large Value Natural Res Large Growth Large Value Technology Large Blend Foreign Large Blend Large Blend Foreign Large Blend Small Growth Pacific/Asia ex-Japan Stk Mid-Cap Value Large Blend Financial Large Value Health Large Blend Mid-Cap Growth Natural Res Pacific/Asia ex-Japan Stk Utilities Precious Metals Real Estate Real Estate È — È È È É È É Ï È Ç Ç Ë È Ç Ç É È È È Ë Ë Î É — Í Ê — É Ç É È È È È Ï È Ê È Ç Ç É È Ì — Ç Ç — Ë Ê ÙÙÙ ÙÙÙÙÙ ÙÙÙ ÙÙÙÙ ÙÙÙ ÙÙÙ ÙÙÙ ÙÙÙ ÙÙÙ ÙÙÙÙ ÙÙÙ ÙÙÙ ÙÙÙÙ ÙÙÙÙ ÙÙÙÙ ÙÙ ÙÙÙ ÙÙÙÙ ÙÙÙÙ ÙÙÙ ÙÙÙÙ ÙÙÙ ÙÙÙÙ — ÙÙÙÙÙ ÙÙÙ ÙÙ Ù ÙÙÙ ÙÙÙ ÙÙÙÙ — — ÙÙÙ — ÙÙÙ ÙÙÙ ÙÙÙ ÙÙÙ — ÙÙÙ ÙÙ ÙÙÙ ÙÙÙ ÙÙÙÙÙ Ù ÙÙÙÙ ÙÙÙÙÙ ÙÙÙ ÙÙÙ 70 Morningstar Advisor June/July 2009

Morningstar Advisor - June/July 2009

Table of Contents for the Digital Edition of Morningstar Advisor - June/July 2009

Morningstar Advisr - June/July 2009
Contents
New on MorningstarAdvisor.com
Letter from the Editor
Contributors
Is SRI a Relevant Investment Strategy?
A Head for Numbers
Building a Business on SRI
Investment Briefs
The Liquidity Premium
Navigating the SRI Patchwork
Profit and Progress
How the Fed Contributes to Crises
Holding Steady
Appleseed Adds Value to SRI Formula
Four Picks for the Present
Long-Term Investors Can Find Value among Industrials
Higher Yields, Hold the Risk
Bargains in U.S. Industrials
Mutual Fund Analyst Picks
50 Most Popular Equity ETFs
Undervalued Stocks
Most Popular Variable Annuities
New at Morningstar
Talkin’ ‘bout a Revolution
Morningstar Advisor - June/July 2009 - 47
Morningstar Advisor - June/July 2009 - Morningstar Advisr - June/July 2009
Morningstar Advisor - June/July 2009 - Cover2
Morningstar Advisor - June/July 2009 - Contents
Morningstar Advisor - June/July 2009 - 2
Morningstar Advisor - June/July 2009 - 3
Morningstar Advisor - June/July 2009 - New on MorningstarAdvisor.com
Morningstar Advisor - June/July 2009 - 5
Morningstar Advisor - June/July 2009 - 6
Morningstar Advisor - June/July 2009 - Letter from the Editor
Morningstar Advisor - June/July 2009 - Contributors
Morningstar Advisor - June/July 2009 - 9
Morningstar Advisor - June/July 2009 - Is SRI a Relevant Investment Strategy?
Morningstar Advisor - June/July 2009 - 11
Morningstar Advisor - June/July 2009 - A Head for Numbers
Morningstar Advisor - June/July 2009 - 13
Morningstar Advisor - June/July 2009 - 14
Morningstar Advisor - June/July 2009 - Building a Business on SRI
Morningstar Advisor - June/July 2009 - 16
Morningstar Advisor - June/July 2009 - 17
Morningstar Advisor - June/July 2009 - Investment Briefs
Morningstar Advisor - June/July 2009 - 19
Morningstar Advisor - June/July 2009 - 20
Morningstar Advisor - June/July 2009 - 21
Morningstar Advisor - June/July 2009 - 22
Morningstar Advisor - June/July 2009 - The Liquidity Premium
Morningstar Advisor - June/July 2009 - 24
Morningstar Advisor - June/July 2009 - 25
Morningstar Advisor - June/July 2009 - 26
Morningstar Advisor - June/July 2009 - 27
Morningstar Advisor - June/July 2009 - 28
Morningstar Advisor - June/July 2009 - 29
Morningstar Advisor - June/July 2009 - Navigating the SRI Patchwork
Morningstar Advisor - June/July 2009 - 31
Morningstar Advisor - June/July 2009 - 32
Morningstar Advisor - June/July 2009 - 33
Morningstar Advisor - June/July 2009 - 34
Morningstar Advisor - June/July 2009 - Profit and Progress
Morningstar Advisor - June/July 2009 - 36
Morningstar Advisor - June/July 2009 - 37
Morningstar Advisor - June/July 2009 - 38
Morningstar Advisor - June/July 2009 - 39
Morningstar Advisor - June/July 2009 - How the Fed Contributes to Crises
Morningstar Advisor - June/July 2009 - 41
Morningstar Advisor - June/July 2009 - 42
Morningstar Advisor - June/July 2009 - 43
Morningstar Advisor - June/July 2009 - 44
Morningstar Advisor - June/July 2009 - 45
Morningstar Advisor - June/July 2009 - 46
Morningstar Advisor - June/July 2009 - 47
Morningstar Advisor - June/July 2009 - Holding Steady
Morningstar Advisor - June/July 2009 - 49
Morningstar Advisor - June/July 2009 - 50
Morningstar Advisor - June/July 2009 - 51
Morningstar Advisor - June/July 2009 - Appleseed Adds Value to SRI Formula
Morningstar Advisor - June/July 2009 - 53
Morningstar Advisor - June/July 2009 - 54
Morningstar Advisor - June/July 2009 - 55
Morningstar Advisor - June/July 2009 - Four Picks for the Present
Morningstar Advisor - June/July 2009 - 57
Morningstar Advisor - June/July 2009 - Long-Term Investors Can Find Value among Industrials
Morningstar Advisor - June/July 2009 - 59
Morningstar Advisor - June/July 2009 - 60
Morningstar Advisor - June/July 2009 - 61
Morningstar Advisor - June/July 2009 - Higher Yields, Hold the Risk
Morningstar Advisor - June/July 2009 - 63
Morningstar Advisor - June/July 2009 - Bargains in U.S. Industrials
Morningstar Advisor - June/July 2009 - 65
Morningstar Advisor - June/July 2009 - Mutual Fund Analyst Picks
Morningstar Advisor - June/July 2009 - 67
Morningstar Advisor - June/July 2009 - 68
Morningstar Advisor - June/July 2009 - 69
Morningstar Advisor - June/July 2009 - 50 Most Popular Equity ETFs
Morningstar Advisor - June/July 2009 - 71
Morningstar Advisor - June/July 2009 - Undervalued Stocks
Morningstar Advisor - June/July 2009 - 73
Morningstar Advisor - June/July 2009 - 74
Morningstar Advisor - June/July 2009 - 75
Morningstar Advisor - June/July 2009 - Most Popular Variable Annuities
Morningstar Advisor - June/July 2009 - 77
Morningstar Advisor - June/July 2009 - 78
Morningstar Advisor - June/July 2009 - New at Morningstar
Morningstar Advisor - June/July 2009 - Talkin’ ‘bout a Revolution
Morningstar Advisor - June/July 2009 - Cover3
Morningstar Advisor - June/July 2009 - Cover4
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