ETF Chart of the Day: U.S. Total Stock Market
May 14th, 2012 at 12:15pm by Paul Weisbruch, Street One Financial
Early last week we noticed huge trading activity in a diversified ETF that generally trades by appointment only. SPDR DJ Wilshire Total Market (NYSEArca: TMW) saw more than 2 million shares exchange hands versus average daily volume of approximately 44,000 shares, and over $260 million flowed into the fund via the resulting creation activity.
The ETF is meant to be representative of the total U.S. equity market, including all capitalization sizes, and tracks an index developed by Dow Jones.
It is difficult to say exactly what this trade conveys, other than an institutional possibly shifting from one broad based index methodology to another perhaps via this ETF vehicle.
Other “All Cap” alternatives that are in this class include Vanguard Total Stock Market (NYSEArca: VTI), iShares Russell 3000 (NYSEArca: IWV), Schwab U.S. Broad Market (NYSEArca: SCHB), iShares DJ U.S. Index (NYSEArca: IYY), and iShares S&P 1500 (NYSEArca: ISI) for instance.
Currently, top holdings of TMW are the following: AAPL (3.42%), XOM (2.81%), MSFT (1.63%), IBM (1.60%), and CVX (1.39%). From a capitalization standpoint, 42.05% of the holdings in the fund qualify as “Mega Cap,” with 31.48% being “Large Cap,” 19.62% “Mid Cap,” 3.91% classified as “Small Cap,” and the remaining 2.59% falls under “Micro Cap.”
SPDR DJ Wilshire Total Market