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A Deeper Look Inside a Unique Foreign Equity ETF

Friday, September 30, 2016 10:25
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Global StocksToday, ETF expert Paul Weisbruch looks at a little-known foreign large cap equities fund that deserves closer consideration from investors.

The TrimTabs International Free-Cash Flow ETF (NYSE:FCFI), which has an expense ratio of 0.69% and boasts $13.1 million in assets under management, debuted in early June of last year. TrimTabs Asset Management is a firm based in Sausalito, CA, and according to firm literature, “employs a series of alpha-based investment strategies, and seeks to achieve attractive returns by utilizing a proprietary, time-tested methodology of combining float shrink, free cash flow, and leverage parameters.” Furthermore, in terms of investment strategies offered by the firm, the company’s website states “TrimTabs Asset Management is a money management firm focused on alpha-oriented strategies. The key premise of our approach is that stock prices are a function of liquidity and free cash flow, rather than fundamental value. Like the prices of any tradable good, the prices of stocks are driven by supply and demand.”

FCFI does not trade heavy volume on a regular basis, averaging only about 600 shares per day on a three-month trailing period, but on a simple chart we do see occasional days where several times that amount trades in one session, which is likely investment managers and/or retail investors taking positions in the product.


Of course volume can change in time as well, especially with products such as this, which are relatively new to the marketplace, It takes time for a live track record of performance to be built, after all.

TrimTabs has also been in the news this week on the announcement of a new product launch, specifically the TrimTabs Float Shrink ETF (TTAC) (Expense Ratio 0.59%). We see a quotation in the newswires about this new fund TTAC from portfolio manager Ted Theodore stating “The proprietary algorithm is the secret sauce that helps make the whole thing tick, helping us implement the Fund’s active methodology.”

Getting back to FCFI, when we look at top holdings in this Foreign Large Cap Equity fund, we see the following exposures (ordinary shares which are listed internationally): 1) Zurich Insurance Group AG (2.89%), 2) Swiss Re AG (2.39%), 3) Credit Suisse Group AG (2.16%), 4) RELX NV (2.14%), 5) UBS Group AG (2.11%).

There is a noticeable slant to the Financial Services industry at 37%, with lesser exposure to Industrials (19%), and Consumer Discretionary (15%), among other sectors.

FCFI shares were unchanged in Friday afternoon trading at $21.86 per share. Year-to-date, FCFI has gained 1.58%.

Disclaimer: The content of this article is excerpted from a daily newsletter from Street One Financial. While ETF Daily News may edit the contents and add a relevant title to the piece, the author, Paul Weisbruch, does not endorse or recommend any issuer or security mentioned herein.

About the Author: Paul Weisbruch
paul-weisbruchPaul Weisbruch is the VP of ETF/Options Sales and Trading at Street One Financial. Prior to joining the team at Street One, Paul served as the Director of RIA and Institutional ETF Sales at RevenueShares ETFs from December 2007 until November of 2009. Before RevenueShares, Paul was employed by Susquehanna International Group from 2000 until 2007 serving in roles including OTC/NYSE Institutional Block Trading, Nasdaq/OTC Market Making, ETF/Derivatives Intelligence and Strategy, Algorithmic Trading, as well as acting as the PHLX Floor Specialist in the ETFs, SPY and DIA.

Paul has been actively involved in the ETF space from both a product and trading standpoint since 2000. Additionally, Paul has well forged relationships with national RIAs, institutional pension fund managers and consultants, mutual fund and hedge fund managers, and also the ETF media. Co-authoring the “S1F ETF Daily” since 2009, the daily piece has become a must for many portfolio managers in the ETF space, with segments regularly appearing in the likes of Barron’s, WSJ, and for instance.

He holds his Series 4 (Registered Options Principal), 6, 7, 55 (Equity Trader), 63, and 65 licenses. He graduated from the University of Pittsburgh (B.S. – Economics), graduating magna cum laude, and has an MBA from Villanova University.

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  • Mr. R. West

    Gimmicks … too iilliquid!

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