SMRI: Stellar YTD Performance And Quality Exposures, Yet Nuances Exist, A Hold

I initiate coverage of the Bushido Capital US Equity ETF with a Hold rating. SMRI's portfolio boasts a robust GARP and quality factor mix, with a weighted average PEG ratio of 0.75 and a 5.4% earnings yield, as per my calculations. Despite a YTD return of over 34%, the fund lacks performance consistency: before 2026, its returns were drab, with two consecutive calendar years of underperformance versus the IVV.

Seeking Alpha • Aug 27, 2026

SMRI: Don't Jump The Gun Based On The Fed's Interest Rate Decision Today

The Bushido Capital US Equity ETF is currently too expensive and not well-positioned for a potential economic downturn, especially given its low allocation to resilient sectors like consumer staples and utilities. SMRI is heavily weighted towards healthcare and consumer cyclical sectors, which may benefit from falling interest rates, but it's too early to rotate into value stocks. The Fed's interest rate cuts are uncertain and may not lead to rapid declines, making it premature to invest in this ETF for short-term gains.

Seeking Alpha • Sep 18, 2024

The return of value investing ETFs

CNBC's Bob Pisani sits down with KraneShares chief investment officer Brendan Ahern and Sepio Capital co-CIO and managing director John Beatson to discuss the rise of value investing ETFs and the philosophy behind Sepio Capital's strategy.

CNBC Television • Aug 26, 2024

This Week in ETFs: Launches Rebound After Holiday Week

The past week saw a spike in ETF launches, with 19 new funds debuting.

ETF Trends • Sep 15, 2023