With high free cash flow possibly indicating a strong, healthy balance sheet, we tested to see if free cash flow yield, defined here as annual free cash flow per share divided by stock price, contains any meaningful return information and whether, all else being equal, a company with a higher free cash flow yield will deliver higher free cash income for each U.S. dollar invested and is preferable to one with a lower free cash flow yield.
S&P Global Equity Indices Monthly Update October 2017
The S&P LTVC Global Index was designed as a vehicle to identify the companies that embody long-termism and give long-term market participants an index that seeks to track the performance of these like-minded companies. The index also aims to engage companies on the issue of long-termism in order to motivate them to improve disclosure on their sources of LTVC. This paper provides our philosophy and rationale on the objective, process, and structure that went into creating the index, as well as its engagement role in influencing companies to improve their reporting to market participants.
S&P Dow Jones Indices has introduced the S&P/BMV Mexico Target Risk Index Series, a series of multi-asset class indices that are designed to serve as benchmarks for the Mexican pension system.
S&P Global Equity Indices Monthly Update August 2017
In this paper, we analyzed the performance of six single factors (small cap, value, low volatility, momentum, quality, and dividends) in the Hong Kong market from June 30, 2006, to Feb. 28, 2017.
In August 2017, Asia Index Private Limited (a joint venture between S&P Dow Jones Indices and BSE Ltd) launched the S&P BSE Bharat 22 Index to track performance of select companies disinvested by the Central Government of India via a new ETF.
The widespread adoption of the low volatility strategies by retail and institutional market participants to gain exposure to the factor indicates that low-risk investing is here to stay. It is important that market participants understand the fundamental differences between the two established forms of low-risk index construction: rankings based versus optimization based.
The S&P Target Date Scorecard provides performance comparisons, equal- and asset-weighted category averages, and analytics covering the target date fund (TDF) universe.
Providing Americans with adequate retirement income and affordable medical care was one of the country's most hotly debated social and political topics of the 20th century.
This report examines the impact of fees on the performance of mutual funds and institutional managed accounts across equity and fixed income categories, using gross- and net-of-fees returns.
S&P Global Equity Indices Monthly Update July 2017
In 2016, the percentage of S&P 500 sales from foreign countries decreased for the second year in a row, after increasing for three consecutive years. The overall rate for 2016 was 43.2%, down from 44.3% in 2015 and 47.8% in 2014, which was at least an 11-year record high; the 43.2% rate in 2016 was the lowest since the 41.8% posted in 2003. S&P 500 foreign sales represent products and services produced and sold outside of the U.S.
It is commonly asserted that REITs are destined to underperform when interest rates rise. However, an examination of the historical record suggests that this is a misconception.
S&P Global Equity Indices Monthly Update June 2017
In this paper, we dissect how the construction of the index helps to achieve its objective and examine how each of the construction criteria affects characteristics and return.
In this paper, we explore how a stylized, factor-based framework could be applied to equity markets in Latin America and whether performance can vary in different Latin American countries.
Insurance companies have invested in exchange traded funds (ETFs) since 2004.