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Weekly Sector Update – $EVX

EVX is VanEck’s Environmental Services ETF. It is Felix’s top pick this week and as a bonus it is not in the penalty box, similar to last week’s IYM. Felix is quite bleak this week. His only excuse is that the results are as of yesterday’s run and he hasn’t had the sweet scent of the first day of spring to alleviate the gloomy results.

Investor Take

EVX has a P/E ratio of 28.06 and a yield of 1.75%. Another ETF with a high P/E. The holdings are highly concentrated in the top four.  The trading is a little thin, but there are no good alternatives if you like this theme.

Top 10 Holdings (%)           as of 02/28/14

            Total Holdings:                   30
                    Holding Name
Ticker
            Shares               Market Value (US$)                     % of Net Assets
Veolia Environnement
VE US
123,733
            2,348,452               12.18
Republic Services Inc
RSG US
58,065
            1,980,597               10.27
Stericycle Inc
SRCL US
16,931
            1,930,134               10.01
Waste Management Inc
WM US
43,549
            1,807,284               9.37
Tenneco Inc
TEN US
8,648
            520,956               2.70
Tetra Tech Inc
TTEK US
17,516
            505,862               2.62
Heckmann Corp
NES US
29,568
            502,656               2.61
Iesi-Bfc Ltd
BIN US
19,720
            498,127               2.58
Covanta Holding Corp
CVA US
27,552
            495,936               2.57
Waste Connections Inc
WCN US
11,245
            486,571               2.52
Top 10 Total (%)                                      57.43

Trader Take

The chart for IYM is splotchy indicating its somewhat low volume. But, if you connect the dots, it’s not a bad chart. Here, at NewArc, we do not do day trading, volume is important but does not rule out a potential, profiting ETF trade.

Model Output

The ratings are bleak as noted above. Felix has the springtime blues. Everything is weaker. The number of positive ETFs has dropped to 25%. Median strength has gone negative (-8). Also, the number of ETFs in the penalty box has risen to a startling 82%. Once again, these being yesterday’s results, Felix has not accounted for today’s spring air highs.

TCA-ETF Felix EXPANDED MAR 19, 2014

 

 

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