Daily Archives: Jan 20, 2023 at 07:25 am EST

Research Review | 20 Jan 2023 | ETFs and Related Strategies

Do Sector ETFs Outperform Treasury Bills?
Gow-Cheng Huang (Tuskegee U.) and Kartono Liano (Mississippi State U.)
June 2022
Unlike individual stocks, more than 67% of sector ETFs have lifetime buy-and-hold returns that are higher than the T-bill rates. Thus, the majority of sector ETFs outperform T-bills. However, less than 26% of sector ETFs have lifetime buy-and-hold returns that are higher than SPY, an index ETF that is a proxy for the overall stock market. Consequently, most sector ETFs underperform the market index.

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Macro Briefing: 20 January 2023

* US government hits debt ceiling, begins “extraordinary measures” to pay bills
* NATO meets amid dissent over sending tanks for Ukraine
* Global economic outlook improves but “doesn’t quite yet mean good:” IMF chief
* Big oil is moving into the electric-vehicle charging industry
* Google will cut about 12,000 jobs, or 6% of its workforce
* Japan inflation reaches 41-year high
* US jobless claims fall to 190,000, lowest in 15 weeks
* Philly Fed Mfg Index: softer pace of contraction in January
* US housing starts and building permits continue to slide in December:

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