Morningstar Advisor - June/July 2013 - (Page 76)
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
and Morningstar Office.
Name
Morningstar
Category
Style Box
Morningstar
Rating
SPDR S&P 500 SPY
Vanguard FTSE Emerging Markets ETF VWO
iShares MSCI Emerging Markets Index EEM
iShares Core S&P 500 ETF IVV
iShares MSCI EAFE Index EFA
Large Blend
Diversified Emerging Mkts
Diversified Emerging Mkts
Large Blend
Foreign Large Blend
È
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PowerShares QQQ QQQ
Vanguard Total Stock Market ETF VTI
iShares Russell 2000 Index IWM
Vanguard REIT Index ETF VNQ
iShares Russell 1000 Growth Index IWF
Large Growth
Large Blend
Small Blend
Real Estate
Large Growth
É
iShares Russell 1000 Value Index IWD
iShares Core S&P Mid-Cap ETF IJH
Vanguard Dividend Appreciation ETF VIG
Vanguard MSCI EAFE ETF VEA
Financial Select Sector SPDR XLF
Large Value
Mid-Cap Blend
Large Blend
Foreign Large Blend
Financial
Ç
iShares Dow Jones Select Dividend Index DVY
SPDR Dow Jones Industrial Average DIA
SPDR S&P MidCap 400 MDY
SPDR S&P Dividend SDY
iShares MSCI Japan Index EWJ
Mid-Cap Value
Large Value
Mid-Cap Blend
Large Value
Japan Stock
Ê
Vanguard Growth ETF VUG
Technology Select Sector SPDR XLK
iShares Core S&P Small-Cap ETF IJR
Vanguard Value ETF VTV
Vanguard FTSE All-World ex-US ETF VEU
Large Growth
Technology
Small Blend
Large Value
Foreign Large Blend
É
Vanguard S&P 500 ETF VOO
WisdomTree Japan Hedged Equity DXJ
iShares Russell Midcap Index IWR
iShares Russell 1000 Index IWB
Energy Select Sector SPDR XLE
Large Blend
Japan Stock
Mid-Cap Blend
Large Blend
Equity Energy
È
iShares S&P 500 Growth Index IVW
iShares MSCI Brazil Capped Index EWZ
Health Care Select Sector SPDR XLV
iShares FTSE China 25 Index Fund FXI
Consumer Staples Select Sector SPDR XLP
Large Growth
Latin America Stock
Health
China Region
Consumer Defensive
É
Vanguard Small Cap ETF VB
ALPS Alerian MLP ETF AMLP
Utilities Select Sector SPDR XLU
iShares S&P 500 Value Index IVE
Vanguard High Dividend Yield Indx ETF VYM
Small Blend
Equity Energy
Utilities
Large Value
Large Value
Î
JPMorgan Alerian MLP Index ETN AMJ
Vanguard FTSE Europe ETF VGK
iShares Dow Jones US Real Estate IYR
Market Vectors Gold Miners ETF GDX
WisdomTree Emerging Markets Equity Inc DEM
Equity Energy
Europe Stock
Real Estate
Equity Precious Metals
Diversified Emerging Mkts
—
Market Vectors Agribusiness ETF MOO
iShares Russell 2000 Value Index IWN
Consumer Discret Select Sector SPDR XLY
Vanguard Mid-Cap ETF VO
PowerShares S&P 500 Low Volatility SPLV
Natural Res
Small Value
Consumer Cyclical
Mid-Cap Blend
Large Value
È
Data as of Apr. 30, 2013
76 Morningstar Advisor June/July 2013
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—
Table of Contents for the Digital Edition of Morningstar Advisor - June/July 2013
Morningstar Advisor - June/July 2013
Contents
Contributors
Letter From the Editor
Not Your Values
How Do You Use Alternatives for Clients?
Working to Build a Niche
How to Put Buffett’s Investing Philosophy into Practice
Sophisticated Strategies for the Masses
Investments á la Carte
Investment Briefs
The Percentile Trap
Defense Firms Will Stay Aloft
Beware the Lure of Diversification
Using Alternatives in Practice
Managed Futures and Cash Rates
The World Is Getting Grayer
Waiting to Pull Up Anchor
The Price of Managing Volatility
Let’s Get Back to Basics
Our Favorite Mutual Funds
50 Most-Popular Equity ETFs
Undervalued Stocks With Wide Moats
Mutual Fund Urban Myths
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