|Bid||120.0900 x 200|
|Ask||121.6400 x 300|
|Day's Range||118.4681 - 118.5719|
|52 Week Range||94.8800 - 118.5719|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.12%|
Apple is a value stock. It’s also a growth stock, a momentum pick, a quality name and even a dividend darling. When it comes to smart-beta ETFs looking to dice the market in factor slices, Apple is everywhere. Apple is the largest company in the U.S., with a market capitalization of more than $823 billion, which makes it one of the top holdings in just about all market-cap-weighted U.S. large-cap equity ETFs.
If picking what factor to invest in is tricky business because timing factors is practically impossible, and cyclicality means periods of underperformance relative to the market, picking a factor ETF can be just as difficult. Consider two momentum funds. They both look for companies that have seen strong price gains in recent months and are likely to continue seeing gains ahead, but their diverse approaches to a similar universe mean very different results—sometimes.
Momentum has historically delivered returns of 7% a year, on average, yet many don't understand the pros and cons of this factor strategy is or how they might implement it.