How Investors Can Strategize ETF Allocations in Volatile Markets
How Investors Can Strategize ETF Allocations in Volatile Markets
Recently, market volatility has intensified due to CPI data, Federal Reserve FOMC meetings, and the upcoming U.S. presidential election, which could further increase volatility. In this context, investors looking to devise investment strategies can start with three types of ETFs: bond ETFs, options income funds, and index ETFs that are bought on dips and held over the long term.
近期,由于CPI数据、联邦储备委员会FOMC会议和即将到来的美国总统选举,市场波动性加剧,可能进一步加剧波动性。在这种背景下,希望制定投资策略的投资者可以从三种类型的ETF开始:债券型ETF、期权收益型基金和在低点买入并长期持有的指数ETF。
Bond ETFs
债券型ETF
A snapshot of ETF flows by Eric Balchunas of Bloomberg Intelligence shows bond ETFs as the only category with net inflows since the start of the month.
Bloomberg Intelligence的Eric Balchunas提供的ETF资金流向快照显示,债券型ETF是本月以来唯一一类净流入的品种。
The $119 billion $iShares Core US Aggregate Bond ETF (AGG.US)$ has received $1.3 billion worth of inflows so far this month. And the $116 billion $Vanguard Total Bond Market ETF (BND.US)$ has generated more than $700 million over the same period. Moreover, the bond market proxy, the $iShares 20+ Year Treasury Bond ETF (TLT.US)$, has risen 4.69% in the past five trading days and has topped $100, as the Fed Funds futures market now predicts a 100% chance of a September rate cut.
截至本月初,已经有119亿美元的资金流入该基金。 $美国全债市ETF-iShares (AGG.US)$ 同时,116亿美元的总债券市场ETF-Vanguard(BND.US)在同一时期获得了超过7000万美元的资金流入。此外,债券市场的代理品种, $总债券市场ETF-Vanguard (BND.US)$ 债券市场的代理品种,该基金已经获得超过130亿美元的资金流入。 $20+年以上美国国债ETF-iShares (TLT.US)$, has risen 4.69% in the past five trading days and has topped $100, as the Fed Funds futures market now predicts a 100% chance of a September rate cut.
![](https://uspost.moomoo.com/news-editor-imgs/20240911/public/17260547435435795022379.png)
Besides, the $Ishares Trust Core Total Usd Bd Mkt (IUSB.US)$and the $iShares 7-10 Year Treasury Bond ETF (IEF.US)$saw inflows of $2.3 billion and $1.6 billion, respectively.
Besides, the $安硕核心总美元债券市场ETF (IUSB.US)$和$美国国债7-10年ETF-iShares (IEF.US)$saw inflows of $23亿 and $16亿, respectively.
“The role of bond ETFs is two-fold: to generate income and bolster returns during market declines. Additionally, bonds reminded investors of their utility as shock-absorbers, with most fixed income categories losing less ground than the broader stock market.” Barbara Friedberg, investment portfolio manager at Forbes Advisor said.
“The role of bond ETFs is two-fold: to generate income and bolster returns during market declines. Additionally, bonds reminded investors of their utility as shock-absorbers, with most fixed income categories losing less ground than the broader stock market.” Barbara Friedberg, investment portfolio manager at Forbes Advisor said.
Option Income Fund
期权收益基金
An option income funds generate current income for its investors by earning premiums from selling options contracts. This type of fund experiences smaller losses in the portfolio than the underlying asset when the market declines, but also has limited maximum profit when the market rises.
期权收益基金通过销售期权合约赚取权利金,为投资者提供即期收益。当市场下跌时,这类基金的投资组合损失较低,但当市场上涨时,其最大盈利受到限制。
One way these funds generate income is to sell options strategies that are delta-neutral, meaning that they do not change in value as the market moves either up or down. A short straddle is an options strategy comprised of selling both a call option and a put option with the same strike price and expiration date. A covered call is another common strategy. It includes selling a call option on a stock that is currently being held in the portfolio.
这类基金一种赚取收入的方式是出售无论市场涨跌都不会变动价值的Delta中性期权策略。空头跨式是一种常见的期权策略,它包括同时卖出具有相同行权价和到期日的看涨期权和看跌期权。备兑看涨是另一种常见策略,它包括在组合中持有的股票上卖出看涨期权。
The iShares 20+ Year Treasury Bond BuyWrite Strategy ETF seeks to track the the iShares 20+ Year Treasury Bond ETF while writing (selling) one-month covered call options to generate income. The fund has gained 7.14% since the beginning of the year, outperforming the TLT's increase of 4.55% over the same period.
iShares 20+年期国债买入策略etf旨在跟踪iShares 20+年期国债etf,并写入(出售)一个月备兑看涨期权以产生收入。该基金自年初以来上涨7.14%,超过了TLT在同一时期4.55%的涨幅。
The Global X S&P 500 Covered Call ETF (XYLD) buys the stocks in the S&P 500 Index and “writes” or “sells” corresponding call options on the same index. This fund's YTD performance has been less than that of the S&P 500 index, but it experienced a smaller decline than the S&P 500 during the early August selloff. The fund may perform well in times of market turbulence.
Global X S&P 500 Covered Call ETF (XYLD)购买了标准普尔500指数的股票,并对该指数编写或销售相应的看涨期权。该基金今年迄今表现不及标准普尔500指数,但在8月初的抛售中下跌幅度较小。该基金在市场动荡时可能表现良好。
![](https://uspost.moomoo.com/news-editor-imgs/20240911/public/17260548400227506300791.png)
The Global X Nasdaq 100 Covered Call ETF (QYLD) buys the stocks in the Nasdaq 100 Index and “writes” or “sells” corresponding call options on the same index. Also, During the early August selloff, the fund dropped 7.75% from its high, while the Nasdaq 100 index fell more than 11% during the same period.
Global X纳斯达克100备兑看涨期权ETF(QYLD)购买了纳斯达克100指数的股票,并对该指数编写或销售相应的看涨期权。此外,在8月初的抛售中,该基金从高点下跌了7.75%,而纳斯达克100指数在同一时期下跌了超过11%。
Top-performing index funds
表现出色的指数基金
Moreover, amid the current market volatility, stable returns can still be achieved through long-term holdings of stock index ETFs.
此外,在当前市场波动中,通过长期持有股票指数ETF仍然可以实现稳定回报。
John Bogle, the founder of Vanguard Group and the "father of index funds," once said that due to huge investment friction costs, the probability of long-term profitability is very low. Therefore, the most effective way to accumulate wealth is to keep pace with the annual return provided by the financial market, and then profit from the long-term investment portfolio. The best strategy is to invest in index funds.
范德嘉集团创始人、"指数基金之父" 约翰·伯格尔曾经说过,由于巨大的投资摩擦成本,长期盈利的可能性非常低。因此,积累财富的最有效方式是跟随金融市场提供的年回报,然后从长期投资组合中获利。最佳策略是投资于指数基金。
![](https://uspost.moomoo.com/news-editor-imgs/20240911/public/17260548993379015003621.png)
The Invesco QQQ Trust ETF tracks the performance of the largest non-financial companies in the Nasdaq-100 Index, which includes primarily tech companies.
纳指100etf-景顺纳斯达克100指数etf 追踪纳斯达克100指数中最大的非金融公司的表现,主要包括科技公司。
This ETF started trading in 1999, and it’s managed by Invesco, a fund giant. This fund is the top-performing US stock index ETF in terms of total return over the past 10 years as of September 10, 2023, with a gain of 469.39%.
这只etf于1999年开始交易,由景顺(一家基金巨头)管理。截至2023年9月10日,这只基金在过去10年中是美国股票指数etf中表现最优秀的,总回报率为469.39%。
The S&P 500 is one of the most widely-followed stock market indices in the world, and there are many funds that invest based on the index. The Vanguard S&P 500 ETF tracks the S&P 500 index and is one of the largest funds on the market. As of September 10, 2024, the fund’s AUM amounts to $1.24 trillion.
标普500指数是世界上最广泛关注的股市指数之一,有许多基金是根据该指数进行投资的。Vanguard 标普500 ETF 跟踪标普500指数,是市场上最大的基金之一。截止2024年9月10日,该基金的资产净值达到了1.24万亿美元。
The iShares Core S&P 500 ETF is a fund sponsored by one of the largest fund companies, BlackRock. This iShares fund is one of the largest ETFs. As of September 10, 2024, the fund's assets under management reached $501.3 billion, with a return of 257.63% over the past 10 years.
iShares 核心S&P 500 ETF 是由最大的基金公司之一贝莱德赞助的基金。这只 iShares 基金是最大的etf之一。截止2024年9月10日,该基金的资产管理规模达到了5013亿美元,过去10年的回报率为257.63%。
The SPDR S&P 500 ETF is the granddaddy of ETFs, having been founded all the way back in 1993. It helped kick off the wave of ETF investing that has become so popular today.
SPDR标普500 ETF是ETF的鼻祖,成立于1993年。它帮助引领了如今非常流行的ETF投资浪潮。
With assets amounting to $539.2 billion, this fund is among the most popular ETFs. It is sponsored by another heavyweight in the industry, State Street Global Advisors, and has achieved a return of 253.4% over the past 10 years.
这只基金资产达到了5392亿美元,是最受欢迎的ETF之一。它由业内另一家重量级机构State Street Global Advisors赞助,并在过去的10年里取得了253.4%的回报。
Investors don’t have a lot to choose from when it comes to ETFs tracking the Dow Jones Industrial Average, but State Street Global Advisors comes through with this fund that tracks the 30-stock index of large-cap stocks.
对于追踪道琼斯工业平均指数的ETF,投资者选择余地不多,但是State Street Global Advisors推出了这只追踪30支大盘股指数的基金。
This fund is definitely one of the earlier ETFs, having debuted in 1998, and manages over $33.8 billion in assets. It has achieved a total return of 205.85% over the past 10 years.
这只基金肯定是较早的ETF之一,于1998年首次亮相,管理的资产超过338亿美元。在过去的10年里,总回报率达到了205.85%。
The Vanguard Russell 2000 ETF tracks the Russell 2000 Index, a collection of about 2,000 of the smallest publicly traded companies in the U.S.
Vanguard罗素2000指数etf跟踪罗素2000指数,该指数包含了大约2,000家美国最小的上市公司。
This ETF began trading in 2010 and currently has an asset management scale of $10.8 billion. It has achieved a total return of 106.38% over the past ten years.
这只etf于2010年开始交易,目前的资产管理规模为$108亿。在过去的十年里,它实现了总回报率达106.38%。
Source: Yahoo Finance, Bankrate, Investopedia
来源:雅虎财经、银行利率、投资百科