PSCI - Invesco S&P SmallCap Industrials ETF

NasdaqGM - NasdaqGM Delayed Price. Currency in USD
-0.43 (-0.60%)
At close: 3:39PM EST
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Previous Close72.11
Bid71.21 x 800
Ask71.71 x 800
Day's Range71.57 - 71.94
52 Week Range60.96 - 74.24
Avg. Volume4,044
Net Assets55.44M
PE Ratio (TTM)N/A
YTD Daily Total Return-0.28%
Beta (5Y Monthly)1.33
Expense Ratio (net)0.29%
Inception Date2010-04-07
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  • Just Leave These 5 Industrial ETFs Alone for Now

    Just Leave These 5 Industrial ETFs Alone for Now

    It may seem hard to believe following the carnage seen on Friday, Aug 23, but the S&P 500 is still higher by 1.2% over the past 90 days. Perhaps what is not surprising is that with stocks being smacked around on the back of trade tensions, tariff-sensitive sectors are suffering. This is true for some industrial ETFs as well.While not as export-dependent as the energy or technology sectors, industrials aren't as export-defensive as, say, healthcare, real estate or utilities. As such, the Industrial Select Sector SPDR (NYSEARCA:XLI), the largest industrial ETF, is lower by a market-lagging half a percent.To be fair, there are some bright spots among industrial ETFs, thanks in large part to a recent rebound by Dow component Boeing (NYSE:BA), meaning some aerospace and defense have been holding up. Conversely, some other industrial ETFs are languishing.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Tech Industry Dividend Stocks for Growth and Income Here, we'll look at some of the industrial ETFs investors would be best served by leaving alone for the time being. Invesco S&P SmallCap Industrials ETF (PSCI)Source: Shutterstock Expense ratio: 0.29%When small-cap stocks are part of the problem (and they currently are), not part of the solution, investors ought to steer clear of the related sector funds, including the Invesco S&P SmallCap Industrials ETF (NASDAQ:PSCI).Perhaps the best thing that can be said of this industrial ETF is that over the past 90 days, the fund has performed less poorly than the S&P SmallCap 600 Index. Then again, PSCI has been nearly three times as bad as the large-cap XLI over the same period.Two other marks again PSCI in the current climate. First, the fund devotes nearly 39% of its weight to growth stocks, a corner of the market under pressure due to trade tensions. Second, this industrial ETF's weight of just around 13% to aerospace and defense stocks is not large enough to offset weakness in its other industry exposures. iShares Transportation Average ETF (IYT)Source: Shutterstock Expense ratio: 0.43%Opportunities may still exist with transportation funds, but the iShares Transportation Average ETF (CBOE:IYT) is one of the more economically sensitive industrial ETFs out there and that's saying something. In a vacuum, IYT's 3.6% three-month slide is concerning, but it's even more concerning in the broader context of transportation stocks being viewed as accurate tells of broader market direction.Residing more than 16% below its 52-week high, this industrial ETF face near-term technical challenges because it also labors below its 50- and 200-day moving averages. IYT fits the bill as an industrial ETF to watch, but not one to buy right now. * 10 Companies Using AI to Grow "Just as some equity analysts were providing commentary about potentially becoming more constructive on the transportation stocks, the next shoe dropped," according to Freight Waves. "While investors were purportedly sniffing around the space looking for bargains, likely not interested in a full basket approach to owning the transports, a new round of Chinese tariffs were announced, taking the breath out of the transports." First Trust RBA American Industrial Renaissance ETF (AIRR)Source: Shutterstock Expense ratio: 0.70%The First Trust RBA American Industrial Renaissance ETF (NASDAQ:AIRR) would be one of those industrial ETFs that when the sector is working, it could really deliver for investors. However, that is not the current state of affairs for the sector and last Friday's price action suggests AIRR's 8.41% month-to-date loss could easily increase.AIRR isn't a pure industrial ETF; it allocates about 10% of its weight to financial services stocks, but if industrial exposure is going to be augmented right, best not to do it with another scuffling sector. Compounding that issue is that AIRR's bank holdings are located in states that are major manufacturing centers, a trait that is only valuable if the U.S. can continue avoiding a recession.Hopefully, that will be the case, but this industrial ETF has another reason to avoid it: the median market value of its 56 holdings is around $1.5 billion, meaning it's a small-cap fund at a time when smaller stocks are languishing. John Hancock Multifactor Industrials ETF (JHMI)Source: Shutterstock Expense ratio: 0.40%The John Hancock Multifactor Industrials ETF (NYSEARCA:JHMI) is another example of an industrial ETF that would certainly be worth embracing if sentiment surrounding the sector wasn't as dour as it is now. Technically speaking, there are concerns here, chief among that a drop of the 200-day line that JHMI is clinging to could lead to rapid share price erosion.JHMI is advertised as a multi-factor fund, but the factors it emphasizes -- value, size and profitability -- are not used in its security selection process. JHMI and other Hancock's other sector ETFs track indexes developed by Dimensional Fund Advisors."Dimensional's approach to sector indexing directly targets factors associated with higher expected returns, provide broad diversification to increase the reliability of capturing sector beta relative to strategies that are concentrated or ignore market prices, and aim to limit turnover to trades that meaningfully affect expected returns," according to ETF Trends. * 7 of Worst ETFs -- Boot These From Your Portfolio Right Now In fairness to this industrial ETF, it has been performing less poorly this month traditional industrial ETFs, indicating that if risk appetite is renewed and cyclical stocks rally, this fund is poised for some upside. iShares Global Industrials ETF (EXI)Source: Shutterstock Expense ratio: 0.46%As its name implies, the iShares Global Industrials ETF (NYSEARCA:EXI) is a global ETF, meaning investors should expect hefty exposure to domestic equities with sprinkles of industrial stocks from other large developed markets. That would be an alluring combination if the world's two largest economies weren't mired in a trade war and some other big economies weren't flirting with recessions.However, those are conditions investors are contending with right now and as a result, EXI is trailing the MSCI All-Country World Index by 100 basis points this month. EXI allocates over 68% of its combined weight to the U.S. and Japan, but a significant portion of the remaining portfolio is allocated to Europe, a region where several major economies are weakening. Oh yeah, President Trump could easily target Europe with trade tariffs, too.Even if cyclical stocks can get their mojo back, the moving geographical parts of EXI may say that investors looking to wade back into industrials would be better served doing so with a domestic focus. EXI only trades at a slight discount to the MSCI ACWI Index, which could be too much optimism given the recent lethargy in the industrial sector.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Tech Industry Dividend Stocks for Growth and Income * 7 Stocks the Insiders Are Buying on Sale * 7 of the Worst Stocks on Wall Street The post Just Leave These 5 Industrial ETFs Alone for Now appeared first on InvestorPlace.

  • InvestorPlace

    7 Transportation ETFs That Are Ready to Rally

    Transportation stocks, traditionally residents of the industrial sector, are scuffling a bit this year. The Dow Jones Transportation Average Index is higher by just under 14% year-to-date, while the Industrial Select Sector SPDR (NYSEARCA:XLI) is up 17.71%.There's a dichotomy brewing over the near-term for transportation stocks and the relevant exchange-traded funds (ETFs). On one hand, the U.S. economy remains firm and the Federal Reserve recently lowered interest rates, a potential boost for riskier assets. On the the other hand, the U.S./China trade spat is once again escalating, and as last week's price action confirms, transportation ETFs do not like those headlines."The domestic transportation sector is a widely perceived leading indicator of the U.S. economy," according to Morningstar. "While some traffic is less economically sensitive, such as agricultural products, much of the demand for transportation companies' freight correlates to economic activity."InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Real Estate Investments to Ride Out the Current Storm For as important as transportation equities are in gauging the health of the broader economy, there are not many transportation ETFs and their combined assets under management are not big. Additionally, it has been nearly two years since a new transportation ETF has come to market, but there are some interesting options in the group to consider. Transportation ETFs to Buy: iShares Transportation Average ETF (IYT)Expense Ratio: 0.43%, or $43 annually per $10,000 investedThe iShares Transportation Average ETF (NYSEARCA:IYT) tracks the aforementioned Dow Jones Transportation Average and it is the largest transportation ETF on the market. IYT holds just 20 stocks and is heavy on familiar names such as Union Pacific (NYSE:UNP), FedEx (NYSE:FDX) and UPS (NYSE:UPS), all economic bellwethers.FedEx, one of the more important components in IYT, dabbles in the rapidly growing e-commerce arena, but the real long-term catalyst for the company may be its freight-forwarding operation."The firm's foray into freight forwarding opens a network effect moat source because each additional office in this business makes the rest of the system more valuable to shippers," according to Morningstar. "We also like this business for diversifying away from such asset intensity present in the rest of the company."The near-term overhang for IYT is how its railroad components, four of which reside among the fund's top 10 holdings, deal with tariff talk. Case and point: IYT slumped 3.66% last week. SPDR S&P Transportation ETF (XTN)Expense Ratio: 0.35%The SPDR S&P Transportation ETF (NYSEARCA:XTN) is the equal-weight alternative to the cap-weighted IYT. XTN's lineup is more than double the size of IYT's and the former allocates just 2.94% to its largest holding. Plus, the SPDR ETF reduces railroad exposure (less than 13%).XTN, which is more than eight years old and the second-largest transportation ETF behind IYT, "seeks to provide exposure to the transportation segment of the S&P TMI, comprises the following sub-industries: Air Freight & Logistics, Airlines, Airport Services, Highways & Rail Tracks, Marine, Marine Ports & Services, Railroads, and Trucking," according to State Street. * 7 Marijuana Penny Stocks to Consider for Those Who Can Handle Risk The weighted average market value of XTN's holdings is $17.6 billion, indicating that as smaller transportation stocks flourish, this fund offers some potential for out-performance. Invesco S&P SmallCap Industrials ETF (PSCI)Expense Ratio: 0.29%The Invesco S&P SmallCap Industrials ETF (NASDAQ:PSCI) is the small-cap answer to the aforementioned XLI and as its name implies, is a dedicated industrials fund, not a proper transportation ETF. However, PSCI does have some transportation ETF credibility as more than 10% of its 95 holdings are transport names.PSCI, components, which have an average market value of $2.18 billion, "are principally engaged in the business of providing industrial products and services, including engineering, heavy machinery, construction, electrical equipment, aerospace and defense and general manufacturing," according to Invesco.Interestingly, PSCI has performed inline with the large-cap XLI over the past three years, but the small-cap fund has been more volatile. More impressively, PSCI outpaced the S&P SmallCap 600 Index by more than 800 basis points over that stretch, indicating that this is a transportation ETF with long-term potential. Global X U.S. Infrastructure Development ETF (PAVE) Expense Ratio: 0.48%Like the aforementioned PSCI, the Global X U.S. Infrastructure Development ETF (CBOE:PAVE) is not a dedicated transportation ETF, but it merits a place on this list because it allocates almost 14% of its weight to railroad stocks.There are important intersections between transportation companies and efforts to shore up America's decrepit infrastructure and with the 2020 presidential campaign off and running, investors can expect to hear more about infrastructure spending in the coming months. * 7 S&P 500 Dividend Stocks to Buy With Yields of at Least 3% "We view mixed control of Congress as a positive for infrastructure," according to Morningstar. "Increased infrastructure funding is a relatively easier issue for which to find bipartisan support than legislation regarding other issues like healthcare or immigration reform. In fact, following the results of the midterm elections, leaders of all three bodies-President Donald Trump, House Speaker Nancy Pelosi, and Senate Majority Leader Mitch McConnell-discussed infrastructure positively." Cushing Transportation & MLP ETF (XLTY)Expense Ratio: 0.65%The Cushing Transportation & MLP ETF (NYSEARCA:XLTY) is an interesting spin on traditional transportation ETFs because the fund mixes members of the Dow Jones Transportation Average with master limited partnerships (MLPs) from the Cushing MLP Index."To construct the transportation component of the portfolio, the fund re-weights the transportation industry group by dividend yield, subject to a cap of 6% weight per holding. Then, the smallest holdings are removed until all firms have a weight of at least 1% in the final portfolio," according to caps MLP exposure at 25% to avoid pesky taxation issues related to the asset class, but the fund's exposure to MLPs is enough to give it an attractive dividend yield relative to other transportation ETFs. Invesco Shipping ETF (SEA)Expense Ratio: 0.66%The Invesco Shipping ETF (NYSEARCA:SEA) has been around for over nine years, but remains overlooked in the transportation ETF conversation. SEA tracks the Dow Jones Global Shipping Index and offers somewhat of a sophisticated investment concept as it is a play on the rates shipping companies charge to move commodities, such as coal and oil, around the world.This investment niche isn't for conservative investors as SEA is volatile compared to traditional transportation ETFs. Translation: SEA can go from hot to not in a heartbeat. A recent rally in the fund quickly evaporated as markets priced in why the rally occurred in the first place."While a large part of this strength is attributed to a pickup in iron-ore shipping activity, the other element is reportedly lower vessel availability due to ongoing scrubber installations," according to ING. * 10 Medical Marijuana Stocks to Cure Your Portfolio In its favor, SEA has a 12-month distribution rate of 3% and nearly two-thirds of its holdings are classified as value stocks. SPDR S&P Kensho Smart Mobility ETF (HAIL)Expense Ratio: 0.46%The SPDR S&P Kensho Smart Mobility ETF (NYSEARCA:HAIL) is a play on the future of transportation and it's reasonable to expect that at some point, Lyft (NASDAQ:LYFT) and Uber Technologies (NYSE:UBER) will reside in this transportation ETF.As it stands today, HAIL features a gutsy lineup as Nio (NYSE:NIO) is its largest holding.This transportation ETF "seeks to track an index that is designed to capture companies whose products and services are driving innovation behind smart transportation, which includes the areas of autonomous and connected vehicle technology, drones and drone technologies used for commercial and civilian applications, and advanced transportation tracking and transport optimization systems," according to State Street.HAIL is diverse compared to older transportation ETFs with exposure to more than a dozen industries. It's not your father's transportation ETF, but if you're looking for growth in this usually staid arena, HAIL is one of your best bets.As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post 7 Transportation ETFs That Are Ready to Rally appeared first on InvestorPlace.

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