Analyse: UBS-ETFs plc - MSCI USA Growth TRN

Bei diesem nicht ganz günstigen ETF stehen US-Unternehmen mit überdurchschnittlicher Gewinndynamik im Vordergrund. 

Alastair Kellett 21.09.2012

Rolle im Portfolio

The UBS-ETFs plc - MSCI USA Growth TRN provides exposure to a subset of the U.S. equity market focusing on companies showing growth in their earnings. Like its broader counterpart, MSCI USA, the benchmark index is comprised of a large number of very big companies. It is, however, less diversified in its industry exposures, with more than 32% of the total in the Information Technology sector. In the period since 1999, the MSCI USA Growth Index has exhibited annual volatility of nearly 18%, more than either the MSCI USA or the MSCI USA Value. That suggests investors should have a lengthy time horizon in mind when taking on this exposure, so that they can withstand the ups and downs that have historically characterised it. During the same period it has shown a correlation to the broader MSCI USA of 97%, and to the local-currency returns of the MSCI Europe Index and the MSCI Emerging Markets Index of 87% and 78%, respectively. This fund could be used tactically to back U.S. firms that are expanding into new geographic markets or finding new ways to connect with consumers, particularly in the technology sector. Or it could be used as a component of core equity exposure, alongside a complementary value-tilted allocation. The fund does not make any dividend distributions; therefore, it may not suit someone looking for regular investment income.

Fundamentale Analyse

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Über den Autor

Alastair Kellett  Al Kellett is an ETF analyst with Morningstar Europe.

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