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MFO Ratings Posted Thru Sept 3Q24 & Flows Thru 4 Oct

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  • Good session. Healthy turn out today. Thank you!

    Link to video.

    Link to chart deck.
  • Just posted all ratings to MFO Premium site through May, which includes month to date performance through Friday, 19 June.

    Beginning with this update, all flow data now rolls-up to the oldest share class level. Flows of other share classes remain as reported by Refinitiv.

    This update was adopted after me getting alarmed at the billions of dollars of outflows from DODGX, who has rewarded investors handsomely these past three years. But alas, the outflows were just inflows to newly established DOXGX share class.
  • That's good - to show totals for the oldest asset class. But expand the note at the bottom to indicate this.

    Looking at DODGX, it seems that the main display has total flows and total assets (checks with total $109.1 billion at M*; Fido has class AUM $65.3 billion)). But the bar chart below seems to show only the class flows. If intentional, this also should be noted.

    BTW, many mutual fund outflows are simply to their CIT version/clone in workplace retirement plans. That also distorts the fund flows. I asked M* about it once and its response was that its database had only some CITs, so it couldn't indicate those flows for sure. Does Refinitiv have good data on CITs?
  • edited July 25
    Thank you ybb. There is a note near the atop the chart explaining the roll-up methodology, but you mean add note inside the chart itself?

    I do plan to expand notations and add to Definition page as we finished rolling-out the flow tools. Last couple steps: add flows for Fixed Periods, like we've done for Calendar Years. Then, integrate into MultiSearch, giving ability to screen for flows ... along with risk and return performance. That should be pretty cool.

    Yes, the daily (or monthly) flows in the bottom bar chart are also rolled up, since Total Net Flows are computed from these values real time.

    I will check on the CITs. That might help explain what Devesh pointed out with FCNTX at the last webinar. It's lost billions over last five years, despite good performance ... but unlike D&C, outflows cannot be explained by share class. Its AUM remains about $120B, because performance has offset outflows, apparently. If not CITs, maybe just the challenge to actively managed funds, even good ones?

    c

    FCNTX Flows and Return Data Last 5 Years

    image


  • @Charles, I didn't see the note at the top and was looking only at the legend below. Either place is fine, but you may want to note that this rollup is for flows AND AUM. As I noted before, different websites present AUM data differently - M* now only shows total AUM in all fund pages; Fido and TIAA etc present only class AUM in fund pages.
  • Good one. Yes, flows and AUM (aka TNA). Will add note.
  • Just posted all ratings to MFO Premium site through May, which includes month to date performance through Friday, 26 June.
  • edited August 10
    Just posted all ratings to MFO Premium site through July, which includes month to date performance through Friday, 2 August.
  • edited August 4
    Reading headlines and listening to news this past week, given the weaker jobs report, it felt like the wheels were coming off. State Street Technology Select Sector SPDR (XLK) was indeed down 3.3% for July. But it was the only sector in the red and is still up more than 14% for YTD. April was much worse. That said, August is off to rough start.
  • edited August 8
    “Tough Month for Tech”

    Seems like there was a rather active poster here a couple months back who was really pounding the drums for tech. Derided some regulars who weren’t drinking the “AI” laced Kool-Aid. Can’t remember his name.

    To be fair, a lot of money has been made in tech over the past year(s). I’m not qualified to say whether the sector is attractively priced now (or how it might look in the midst of a recession). But my experience says most market sectors run in cycles. These cycles appear to have become exaggerated / intensified in recent years due to the technical capabilities at work at trading desks as well as on everybody’s pocket computer.

    Thanks @Charles for sharing these charts. Very helpful.
  • Thanks @Charles. Good chart.
  • edited August 20
    Just posted all ratings to MFO Premium site through July, which includes month to date performance through Friday, 10 August.
  • edited September 14
    Just posted all ratings to MFO Premium site through July, which includes month to date performance and fund flows through Friday, 18 August.
  • edited September 2
    Just posted all ratings to MFO Premium site through August, using Refinitiv data drop from Friday, 30 August. Used month-to-date (MTD) numbers to get preview of full month-ending drop, usually only missing a few funds.

    BRKA has been extraordinary this year at 31.8% YTD, 11.5% in August alone.
  • the uneasy thing about the market is that there can be sometimes too much of a good thing.
  • edited September 7
    Just added ETNs and Trading Categories (Equity Leverage and Dedicated Short Bias) back on to site. Also, updated funds and indexes with latest names.

    Data from yesterday's Lipper drop, which includes flow data through 6 Sept, should post tonight.
  • edited September 8
    Just posted all ratings and fund flows to MFO Premium site, using Refinitiv data drop from Friday, 6 September.
  • edited September 8
    Thanks.
    I was looking at an eTF and yesterday it had data to 8/15/24, but this AM it's to 9/6/24.
    I am wondering if some aspects (performance, etc) can be updated more frequently and the others (MPT stats, fund flows) less frequently.
    And that ETF in MFO Premium database isn't recognized elsewhere - it just messes up talking about eTFs.
  • edited September 8
    Hi ybb. I don't believe a fund with the ticker ETF is in MFOP. I suspect that issue is with a routine that links what looks like a fund ticker to other screening sites, like M*. It's an MFO Discussion Board issue. So, I will ask chip to try and address.

    The risk, return, and basic info data in MFOP are updated each weekend, typically. But, except for month to date (MTD) and weeks to date (WTD, which combines YTD plus MTD) return and drawdown metrics, just about all risk and return metrics are based on month ending values. I do not see this changing given the structure of our Lipper Global Data Feed (LGDF). The Friday date of the weekly LGDF data drop in use is displayed on the MFOP home page and on the MultiSeach start page. It is also within Display Period for MTD and WTD.

    The flow data, which include fund flows, tna (aka aum), and return, are updated 1st and 3rd weekends each month, consistent with Lipper Global Flow Feed (LGFF) data drops. The flow data can be daily or monthly or both ... and, is displayed accordingly in the FLOW tool. The FLOWS and TNA comparative tools use month ending only, like most MPT data.

    I do envision weekly updates to the FLOW tool, but it will be after finishing the full integration of the flow data with the MultiSearch screener, which I think will represent another unique feature of MFOP.
  • Just updated all ratings to MFO Premium site through August and month-to-date through 13 September, using yesterday's Lipper data drop.
  • Just posted all ratings and fund flows to MFO Premium site, using Refinitiv data drop from Friday, 20 September.
  • @Charles, some FLOW charts are showing different end dates:
    VOO 20240830
    VYM 20240830
    SPY 20240906 (was updated 2 weeks ago)
    NFTY 20140906 (was updated 2 weeks ago)
    None of the above show 20240920.
  • Ha! Was live on development site, which mimics the member site. Both live now, thanks to you! c
  • edited September 22
    Funds report flows differently. Some, like QQQ daily and timely; others, monthly and timely. And even others, monthly, but lagging a month, like DODGX. Historically, some have both daily and monthly.

    The FLOW chart will depict however they report: flow, net flow, return, and aum.

    The FLOWS chart, which enables fund flow (or aum) comparisons, is month ending only.

    Flow and aum roll-up to oldest share class level throughout site.

    Lipper drops full flow data twice each month: 1st and 3rd Saturdays. We then try to post latest later that day or next morning.
  • Thanks!
    I may be able to substitute the updated NFTY chart for a publication. I did check early this AM for any biweekly updates, but those came now.
  • edited September 24
    @Charles: In the screener, for picklist Bear Market in section Display Period, what does TGN stand for? Tks

    Edit: Never mind, I found it.
  • The Great Normalization.
  • If you click on any circled + through the site, up will pop expanded definitions. Ditto by moving cursor over say a button or column header, usually. And then there is the pretty good Definitions page.
  • Just posted all ratings to MFO Premium site, using Refinitiv data drop from Friday, 27 September.
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