Despite the late first-quarter/early second-quarter biotech swoon, FBT has added $239.2 million in assets this year, bring its assets under management total north of $1.5 billion. S&P Capital IQ views FBT constituents such as Amgen (NasdaqGS: AMGN) and Biogen Idec (NasdaqGS: BIIB) as attractively valued.
For the early part of this year, the Cumberland strategy steered clear of emerging markets ETFs, but last month, McAleer added stakes in the iShares Latin American 40 ETF (NYSEArca: ILF) and the iShares MSCI Taiwan ETF (NYSEArca: EWT), according to S&P Capital IQ.
EWT, which is rated marketweight by S&P Capital IQ, is a favored single-country choice among conservative emerging markets investors because of its relatively low beta and favorable dividend policies.
EWT is reflective of Taiwan’s advanced economy with a 56.9% weight to the technology sector. The ETF has a beta of 0.59 and a three-year standard deviation of about 16.4%. Those numbers on the iShares MSCI Emerging Markets ETF (NYSEArca: EEM) are 0.91 and 19.6%, according to iShares data.
Guggenheim S&P Equal Weight ETF
Tom Lydon’s clients own shares of EEM, ILF and RSP.