Monday, June 18, 2007
Joellyn and I went to the Rice/North Carolina game at the College World Series last night and Steve Garvey was four rows ahead of us; I gotta give a big thanks to my buddy V for helping us get great seats.
I saw over on ETF Trends that iShares has a new dividend ETF, ticker IDV, that owns forgein stocks; well that is always worth a gander.
The underlying index is something called the EPAC Dividend Index. The way Tom referred to it I feel like it something I should have heard of but I haven't.
It kind of looks like a WisdomTree fund in that it is heaviest in Australia at 36%, then UK 31% followed by several countries with single digit weightings. It is heaviest, sector-wise in financials at 42% with a lot of the big foreign banks in the top ten. Even New Zealand Telecom (NZT), a former client holding is in the top ten with a 2.03% weight, the entire NZ exposure for the fund BTW.
Kind of unique is that Greece has a 3.09% weight.
The backtest blew away the S&P 500 and the EAFE at every turn but I was not able to find a Sharpe ratio or any charts to get a feel for how volatile it might be. I suspect its not that volatile but don't know for sure.