This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.
Copyright 2024 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +23.68% per year. These returns cover a period from January 1, 1988 through August 5, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.
Visit Performance Disclosure for information about the performance numbers displayed above.
Visit www.zacksdata.com to get our data and content for your mobile app or website.
Real time prices by BATS. Delayed quotes by Sungard.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This site is protected by reCAPTCHA and the Google Privacy Policy, DMCA Policy and Terms of Service apply.
Image: Bigstock
Buyback ETF (SPYB) Hits New 52-Week High
For investors seeking momentum, SPDR S&P 500 Buyback ETF (SPYB - Free Report) is probably on radar now. The fund just hit a 52-week high, and is up 21.7% from its 52-week low price of $51.33/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
SPYB in Focus
This fund focuses on the 101 top companies in the S&P 500 with the highest buyback ratio in the last 12 months. It has key holdings in financials, consumer discretionary, information technology, and healthcare. The product charges 35 bps in annual fees from investors (see: all the Large Cap ETFs here).
Why the Move?
The buyback corner of the broad investing world has been an area to watch lately given that the biggest tax overhaul in three decades would benefit buyback ETFs. This is because lower corporate taxes would boost companies’ profitability and in turn increase shareholders’ wealth in the form of buybacks. That said, S&P 500 share repurchases increased 7.5% in the third quarter from the second quarter this year and 15.2% from the year-ago quarter.
More Gains Ahead?
It seems that SPYB might remain strong given a high weighted alpha of 19.80% and a low 20-day volatility of 10.78%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>