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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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The week that was, global etf's, various categories + heat map. Week ending April 26, 2024.

2

Comments

  • Catch22, I believe you’re half right regarding FZDXX (FZEXX-muni sister). Yes, you have to purchase like a MF but you do not have to sell to buy. I’ve been using one or both of these MM funds for several years. And never did I have to sell to buy anything. It first checks your core account for sufficient funds, then pulls from FZDXX / FZEXX if necessary.
  • Hi @mcmarasco
    We've not had to sell FZDXX to purchase anything else, as we have core mmkt. positions. I don't know what would be the case if one had only FDZXX as a mmkt. holding; as seems to be your point with this.
    BUT, you provide a very good point about this holding.
    IS there a settlement time frame if one wants to purchase, say, an etf; without a core account, but with using the money in FZDXX?
    Thank you.
  • @catch22 - I do the same as @mcmarasco. I tend to be mostly fully invested at all times and I also hold a position in FZDXX. If I wish to make a buy the money is pulled from FZDXX as though it was my core MM account. No blips or hitches to date. If I perform a sell the funds are deposited into my actual core account from which I make a purchase of FZDXX so as to make it whole again (i.e. in keeping with Fidelitys minimum of $10K).
  • Catch, ditto Mark. I use FZDXX / FZEXX as de facto core accounts. Never had an issue with settlement either. As Mark stated, sells go into your core, then you can purchase the MM.
  • @Mark and @mcmarasco Thank you, gentlemen. New knowledge for me and others here.
  • Never to old to learn. It's the retain part that biting me !
  • @Derf Agree..... AARP and other similar groups talk about mental stimulation for the senior citizen crowd. I don't find one can do much better than this site for 'mental stimulation', at least in the category of investing. Kinda have everything all in one package.:) Needless to say, stay warm !!!
  • edited January 13
    Thanks @Catch22.

    I think you are required to have a sweep (core) account but the balance can be zero, which is the case for me most of the time. When I sell something, I buy into FZDXX (or FDLXX in taxable account) - better to make sure money shows up in the sweep account first. When I buy something else, Fidelity draws from FDLXX (or FZDXX in IRA). Also, when I transfer money from my taxable account to my bank account (or write virtual checks), Fidelity sells FDLXX on their own and so far I have not been charged margin interest for keeping a zero balance in my sweep (core) account and making Fidelity draw from other Fidelity money market funds.

    However, when placing buy orders I make sure to select cash (not margin) in the trade ticket.
  • edited January 14
    @BaluBalu is alluding to T+1 settlement for OEFs, T+2 settlements for ETFs, CEFs, stocks. Even knowing this, I have made mistakes at Schwab that have cost me 1-day margin interest. In the rush of things, one may just look at website Portfolio/Holdings screen and may be misled by the $amount available - yes, it is available with or without margin. Lesson is that one should only trust the Balance screen, and that should show clearly what is available to withdraw, or without margin interest (Fido).

    Schwab typically doesn't reimburse those margin interests, claiming why worry about tiny $s. But I recently got 1-day margin interest charge reversed in an unrelated but relevant situation.

    I made a cash transfer out allowing for T+1 Schwab money-market settlement. But Schwab took my stated date as the completion date, so started the money move 1-day earlier. So, I was charged 1-day margin interest. I protested that this wasn't fair (i.e. it could move the initiation date forward, but not backward), and Schwab credited back that margin interest, but said not to repeat that "mistake". There are warning posts on Twitter about this problem because TD Ameritrade never moved cash transaction dates backward, but only forward. So, for customers unaware of this policy issue may, for example, take RMD in the wrong year at Schwab.

    I haven't checked the policy at Fido.
  • @yogibearbull : I recently noted that after two buys in to two different funds my account shows , marginable xxx amount & non marginable xzx amount. I have no margin account. Could you tell me what they're (Schwab) trying to tell me ?

    Thanks for your time YBB, Derf
  • @Derf, you probably have a margin a/c. May be you filled out related paperwork while opening the account - it's more than just a click, so this cannot be accidental.

    Go into your Balance screen and if it shows large available credit or borrowing capacity, it is a margin account. Your Schwab statements should also show a section on margin loan information.

    Many things become marginable only after 30 or so days after the purchase. That is why there are notations such as "marginable xxx amount & non marginable xzx amount".

    You should investigate this but it shouldn't also be a huge concern. It should be easy to downgrade margin-account or cash-account (but reverse would require paperwork).
  • @yogibearbull Thanks for reply. A few years back I had a margin charge! I called the rep & told him I had no margin account, he said he'd look into it. A day or two later & charge disappeared. Operator error I guess.
  • @Derf, my Schwab Profile/Margin page has this:

    Looking to downgrade?

    To downgrade your current options level, contact us at 888-245-6864.

    To remove your margin access, contact us at 877-870-7317.

    You should definitely call them.
  • @yogibearbull Will do next week. Thanks again.
  • At Schwab / TD, if you have a margin account but no marginable securities because everything, including MM, is recently purchased, can you be charged margin interest for making a buy, after first placing an equivalent amount of sell MM order?
  • May be.
    Some brokers have T+0 (same day) settlements for in-house m-mkt funds. But I haven't checked this at Schwab. My guess is that if nothing is marginable yet, margin interest would be charged.
    Up early? 4:35 AM in CA?
  • edited January 15
    Thanks. Bad sleeping habits. I can blame it on the cold but then you are in Chicago!

    I need to revisit the SEC rules on in-house MM funds - I thought T+0 is required. For TD, Schwab MM are like other mutual funds - T+1, which prompted me to explore if I could move over to Schwab now, but the 1 wk transfer and transition issues forces me to put up with the effectively T+2 in the IRA when MM does not have sufficient marginable balance. I am told my automatic transfer to Schwab will be in the summer.
  • edited January 27
    The graphic is set for the 5 days ending January 19, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = -1.9% / -4.0% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's remained steady this week,with core acct's yields at 4.98 and 5.01%.

    NOTE: Growth area quite happy right now. Especially tech. and chips in particular have picked up 2023 out-performance. Sample, SMH, VanEck semi = +8.2% for the week.

    ***** Hell, Michigan air temperature, 8:30 am, Saturday = 1 degree, while Paradise, Michigan is 13 degrees.

    Remain curious,
    Catch
  • mcmarasco said:

    Catch22, I believe you’re half right regarding FZDXX (FZEXX-muni sister). Yes, you have to purchase like a MF but you do not have to sell to buy. I’ve been using one or both of these MM funds for several years. And never did I have to sell to buy anything. It first checks your core account for sufficient funds, then pulls from FZDXX / FZEXX if necessary.

    Yep, and that's a nice advantage over VG NOT searching for and pulling money from any
    other MMkt a/c's other than your Settlement a/c, making VGBUYs a 2-step process at times.

    On FZDXX Minimums: We have owned FZDXX in EVERY taxable and IRA a/c that we either own or manage for friends and relatives for as long as we can remember. NEVER has Fidelity held us to the stated minimum for FZDXX in the respective a/c's. In some a/c's we have as little as $25 in FZDXX, and have had that piddly amount for over a year!
    Note that some of those a/c's are for persons NOT regarded by Fido as Preferred Customers.

    VG conversely does routine sweeps related to MMkt and Admiral shares Mins, and adjusts your holdings accordingly.
  • edited February 3
    The graphic is set for the 5 days ending January 26, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = +1.5% / -2.1% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's remained steady this week, with core acct's yields at 4.98 and 5.02%.

    NOTE: Growth area remains nominally positive, although tech. related funds found some weakness near the end of this week.

    Remain curious,
    Catch
  • edited February 10
    The graphic is set for the 5 days ending February 2, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = +2.33% / +.13% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remained steady this week, with core acct's yields at 4.98% (SPAXX) and 5.00% (FDRXX).

    NOTE: Growth area remains nominally positive, although tech. related funds found some weakness this week. Most U.S. bonds had a very positive week, in spite of a large sell down on Friday.

    Remain curious,
    Catch
  • Anything that was META heavy shined.
  • edited February 17
    The graphic is set for the 5 days ending February 9, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = -.77% / -.63% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remained nominally steady this week, with core acct's yields at 4.96% (SPAXX) and 4.96% (FDRXX); although both had a drop in yield of .02 and .04% which continues a very slow downward move in yields.

    NOTE: Growth equity remains strongly positive, being the tech. area; as well as Blue Chip, quality/non-tech. Most U.S. bonds (funds) found higher yields this week, which, of course; results in lose of pricing performance.

    Remain curious,
    Catch
  • edited February 24
    The graphic is set for the 5 days ending February 16, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = -.18% / -.81% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remained nominally steady this week, with core acct's yields at 4.97% (SPAXX) and 4.96% (FDRXX).

    NOTE: Growth equity found some downward pricing, being the tech. area; as well as Blue Chip, quality/non-tech. Most U.S. bonds (funds) found higher yields this week, which, of course; results in lose of pricing performance.

    Remain curious,
    Catch
  • edited March 16
    The graphic is set for the 5 days ending February 23, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = -1.14% / -1.95% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remained nominally steady this week, with core acct's yields at 4.96% (SPAXX) and 4.96% (FDRXX).

    NOTE: Growth equity generally had positive pricing, being the tech. area; as well as Blue Chip, quality/non-tech. Most U.S. bonds (funds) found daily flip flops in yields throughout this week, with results for the week in positive pricing performance.

    Remain curious,
    Catch
  • edited March 22
    The graphic is set for the 5 days ending March 15, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = +2.07% / -1.33% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remained nominally steady this week, with core acct's yields at 4.96% (SPAXX) and 5.00% (FDRXX).

    NOTE: The majority of all equity and bond sectors finished the week with negative returns.

    Remain curious,
    Catch
  • edited March 29
    The graphic is set for the 5 days ending March 22, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire.

    *** Requested ADD: For the week and YTD
    --- EWW = +.79% / -.54% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields moved upward a few hundreds % this week, with core acct's yields at 4.97% (SPAXX) and 5.02% (FDRXX).

    NOTE: The majority of all equity and bond sectors finished the week with positive returns, with bond funds having decent gains.

    NEW: 1 week 'heat map' by sectors. This is an interactive graphic. You may hover the computer pointer over the various blocks to view portions of sectors and/or stocks within those sectors. NOTE: to the left of the graphic, one may change the 1 week performance drop down menu to another time frame. Another example: at the left edge of the graphic, select exchange traded funds and then 1 week.

    Remain curious,
    Catch
  • edited April 6
    The graphic is set for the 5 days ending March 28, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire. *** The 5 day period returns may be slightly skewed, due to the 4 day trading week in the U.S.

    *** Requested ADD: For the week and YTD
    --- EWW = +2.71% / +2.15% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remained unchanged this week, with core acct's yields at 4.97% (SPAXX) and 5.02% (FDRXX).

    NOTE: The broad U.S. equity sectors finished the week with small positive returns; while the tech. and growth sectors had losses. U.S. bond sectors were mostly positive, with the longer duration finding the largest gains.

    NEW: 1 week 'heat map' by sectors. This is an interactive graphic. You may hover the computer pointer over the various blocks to view portions of sectors and/or stocks within those sectors. NOTE: to the left of the graphic, one may change the 1 week performance drop down menu to another time frame. Another example: at the left edge of the graphic, select exchange traded funds and then 1 week or a time period of your choice.

    Remain curious,
    Catch
  • edited April 13
    The graphic is set for the 5 days ending April 5, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire. ***

    *** Requested ADD: For the week and YTD
    --- EWW = +1.46% / +3.64% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields were down slightly this week, with core acct's yields at 4.95% (SPAXX) and 4.98% (FDRXX).

    NOTE: The broad U.S. equity and bond sectors finished the week with losses in the 1% range. With the longer duration bonds finding the largest losses towards the - 3% area.

    !!!!! Money market funds holdings set a new record amount of $6.11 trillion this week.

    NEW: 1 week 'heat map' by sectors. This is an interactive graphic. You may hover the computer pointer over the various blocks to view portions of sectors and/or stocks within those sectors. NOTE: to the left of the graphic, one may change the 1 week performance drop down menu to another time frame. Another example: at the left edge of the graphic, select exchange traded funds and then 1 week or a time period of your choice.

    Remain curious,
    Catch
  • edited April 20
    The graphic is set for the 5 days ending April 12, Friday; for the best to worst % returns in select etf categories. One may then also select the one month column to align the one month return best to worst; or for the other listed time frame columns.
    ADD an etf performance of your choosing, if you desire. ***

    *** Requested ADD: For the week and YTD
    --- EWW = -4.12% / -.63% (I Shares, Mexico)

    MMKT note: Fidelity mmkt's yields remain unchanged this week, with core acct's yields at 4.95% (SPAXX) and 4.98% (FDRXX).

    NOTE: The broad U.S. equity and bond sectors finished the week with losses in all sectors. Not a pretty week for the hold tight portfolio. Exceptions were found in the commodities sectors with many positive areas.

    NEW: 1 week 'heat map' by sectors. This is an interactive graphic. You may hover the computer pointer over the various blocks to view portions of sectors and/or stocks within those sectors. NOTE: to the left of the graphic, one may change the 1 week performance drop down menu to another time frame. Another example: at the left edge of the graphic, select exchange traded funds and then 1 week or a time period of your choice.

    Remain curious,
    Catch
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