The Vident International Equity Fund (VIDI) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. Thursday on a percentage basis, producing a +2.46% one-day return and outperforming the wider markets by a total of 1.76 percentage points.
Behind The Gains
VIDI closed on Thursday at $23.37 per share, up $0.56 (+2.46%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $1.61 (+0.70%) on the day.
VIDI’s trading volume today was a total of 32,340 shares, which was a decrease of 38% versus its average daily trading volume of 52,573. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.
Including any dividends as well as today’s gains, VIDI has now returned a total of 8.8% year-to-date, versus a 3.27% gain in the S&P 500 during the same timeframe.
A Look Under The Hood
Vident International Equity Fund is an Equity-focused product issued by Exchange Traded Concepts. Its expense ratio of 0.68% makes it the #44 cheapest ETF among 49 total funds in the Foreign Large Cap Blend ETFs category.
VIDI currently boasts $583.94M in assets under management (AUM), placing it #16 of 49 ETFs in its category, and #414 of 1916 total ETFs in the U.S. exchange traded universe.
The investment objective of the Vident International Equity ETF seeks to track the price and total return performance of the Vident International Equity Index. The index is a rules-based, systematic strategy index comprised of equity securities of issuers in developed and emerging markets outside of the United States.
With international markets, including India, Japan, Russia, and China, all surging at or near yearly highs, it’s not too surprising to see VIDI touching new highs as well.
VIDI SMART Grade
For more information about this ETF, including full ratings, news, data, and more, please visit VIDI’s ticker page.
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