There are no changes to any of the iShares Alternatives models this week; however, there are upcoming changes to the iShares model lineup. With the recent improvement of oil, we take a look at the iShares MSCI Global Energy Producers (FILL).
As discussed in today's Daily Equity Report update, so far this year, Commodities has been by far the most improved asset class in terms of buy signal tally in our Dynamic Asset Level Investig (DALI) tool. Year-to-date, Commodities has gained +48 new signals, and in effect, has seen its tally signal count rise from 131 to 179. One of the major factors driving the improvement in Commodities has been crude oil. The improvement in oil has also resulted in improvement in the broad Energy sector of domestic equities. Thus far this year, Energy is the most improved sector, adding 68 buy signals to its tally in the DALI sector rankings.
If the upward trend in oil prices continues, one fund that is positioned to benefit is the iShares MSCI Global Energy Producers FILL. FILL has a nearly perfect 5.84 fund score and a strongly positive score direction of 3.30. FILL gave a second consecutive buy signal when it broke a double top at $23.50 in trading on 5/9. Meanwhile, its bullish price objective of $32.75 and recent flip to positive monthly momentum each suggest that FILL has the potential for additional upside. The fund also offers a 2.85% yield. FILL currently sits in overbought territory with a weekly distribution reading of 102%, so those interested in adding exposure can consider waiting for a pullback. The fund most recently found support at $19.50.
There are no changes to any of the iShares models this week. We wanted to take this opportunity to alert you to some upcoming changes to the iShares models lineup and the weekly iShares reports. First, the iShares Alternative Report and iShares Equity Report will be consolidated into a single, all-encompassing iShares report, the “iShares ETF Report”. Additionally, the models will be streamlined and reduced to four models that can be seen as the essential portfolio building blocks. The inventories of the remaining models are currently going through an evaluation to determine if there are ways to expand coverage within the model’s asset class. The models that will remain are:
- The iShares Fixed Income Model ISHRFIXED;
- The iShares Sector Rotation Model ISHRSECT;
- The iShares International Model ISHRINTL; and
- The iShares Tactical Model ISHRTACTICAL.
The models that will no longer be available are:
