Still bearish on High BetaSPHB short looks favorable to work again. This time a nice ratio of 2.18 Reward to Risk.
Key stats
About Invesco S&P 500 High Beta ETF
Home page
Inception date
May 5, 2011
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Invesco Capital Management LLC
Distributor
Invesco Distributors, Inc.
SPHB is the S&P 500 ETF for extreme market bulls almost akin to a leveraged fund. In selecting constituents for the underlying index, trailing daily price changes over the past 12 months is used to calculate the S&P 500 constituents betas. Such constituents are then ranked in descending order of their betas wherein the top 100 securities finally form the index. Its weighting methodology is also designed so each constituent is set proportional to its beta all these in an attempt to magnify market movements. While SPHB doesn't look much like the broad US large-cap space, it fulfills its high-beta mandate.
Classification
What's in the fund
Exposure type
Electronic Technology
Technology Services
Producer Manufacturing
Finance
Stock breakdown by region
Top 10 holdings
Themes Themes:
Last night on radio I spoke about the value versus growth theme and also mentioned our custom safe-haven index which has now broken to the upside of the channel in place since July.
In terms of value vs growth, I also mentioned on Monday that Q2 & Q3 2020, value over growth & cyclicals o
Cyclicals at Demark Exhaustion PointMany pension funds are rebalancing out of stocks into bonds. Inflows into cyclicals will likely resume in April. The upward trend in cyclicals is still present.
High Beta / Low Beta Ratio ChartBullish when rising --> Risk-Seeking market
Bearish when falling --> Risk-Off market
Another ratio that demonstrates non-confirmation as the market lunges to new all-time-highs.
Stocks & CurrenciesBoth ratios measure levels of risk appetite in the market.
Since the March low, these gauges have come increasingly more correlated to major stock indices
See all ideas
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.