HDEF News and Press, Xtrackers MSCI EAFE High Dividend Yield Equity From 10/25/22

Summary While still a source of outperformance this year, the global rotation into Value struggled for traction in Q3, thwarted by a summer rally in long-time laggard Quality. The recent back-and-forth between Value and Quality reflects their compositional differences and the diff...

Summary Global GDP growth is still expected to be positive in 2022 (excluding Russia) but is expected to fall fairly dramatically in 2023. The U.S. Q3 2022 earnings season has just begun, and the outlook is for lower but still positive revenue and earnings growth. Inflation wi...

Summary We sit down to discuss why indexing changed everything, why value is back and the fact that not all inflation is created equal. Will value stocks win for the patient investor over the coming three to five years? I'd give that very, very high odds. Central banks believe...

Summary FTRI invests in global companies involved in natural resources extraction and transformation. Over 40% of asset value is in the U.S. and Brazil. About 40% is in mining/metals and oil/gas. The fund is quite concentrated not only in the top countries and industries b...

Summary FID is an ex-U.S global dividend fund with a yield of 4.8%. Canada is the top country in its portfolio. Financials and Utilities are the top sectors. Valuation looks attractive, but it is biased by the country and sector breakdown. The fund has lost 30% in shar...

Summary HDEF is an international, large cap, high yield fund. 48% of asset value is in 3 countries: the U.K., Japan and Switzerland. 54% is concentrated in 3 sectors: financials, consumer staples and materials. Aggregate valuation ratios look great. However, HDEF has l...

Summary YTD, the S&P 500 is now down 24% while bonds have their own double-digit losses. Like stock valuations, currency valuations aren’t great timing tools but over a 3-year period after becoming undervalued, the outperformance is strong. Consumer defensive stocks...

Summary In a time of uncertainty, we believe that quality is the key to investing in equities. But to consistently find companies that meet high-quality standards requires research, judgment and investing skill. In this paper, we identify the characteristics that can help guid...

Persimmon's first quarter wasn't great, though the outlook remains strong. I think the near-13% dividend yield compensates for that, although it comes with the risk of notably thin coverage. I find the risk:reward ratio attractive. High-yield U.K. housebuilder Persimmo...

The global economy and financial markets have suffered a dreadful H1 2022, ravaged by a severe commodity shock, strict COVID-19 lockdowns in the world’s second-largest economy, and one of the most aggressive Fed tightening cycles in recent history. H2 looks equally tough. In it...