I-Bias Survivorship kunye ne-Global Equity Returns

Indlela yokuPhezuluka kweMpilo ichaphazela njani ukuSebenza kweeNkcazo zeMali

Khawucinge ukuba umtyalo-mali owenziwa ngamazwe ngamazwe uhlalutya indalo yonke i-20 yemali ye-exchange exchange-trading ("ETFs") egxile kwingingqi ekhoyo. Ngoku, kuthetha ukuba ii-ETF ezinhlanu zivale ngexesha lonyaka ngenxa yokusebenza kakubi, zishiya i-ETFs kuphela yokulandelela i-ETFs kwingingqi ethile yehlabathi. Ngaphandle kophando olufanelekileyo, utyalo-mali unokuhlola kuphela ii-ETF ezi-15, ecinga ukuba zimele.

Ingxaki ngolu hlobo kukuba uhlalutyo lomtyalomali luya kufikelela ngokuqinisekileyo ekusebenzeni komyinge we-ETFs 15 kwindalo yonke.

Emva koko, ii-ETF ezinhlanu eziye zaphuma ziba nzima ngaphezu kokusebenza komyinge, oku kuthetha ukuba babeza kulinganiselwa kumyinge ukuba bebekwe ingqalelo kunye ne-ETFs esebenzayo kwi-universe.

Ezi zintlukwano ziyaziwa ngokuba yi-"bias surviance bias" kwaye zenzeka xa abatyali-mali babecinga kuphela abasindileyo ekupheleni kwexesha kwaye baxhomeke loo mali-mali okanye imali engekho.

Kule nqaku, siza kujonga indlela yokwenza ingxelo malunga nokunyamekela kokuhlaselwa xa kuhlaziywa amanani angamazwe ngamazwe, anokunceda abanini-mali basemhlabeni wonke ukuba baphephe iimpazamo ezibi.

Ukuphonononga iiAfa zeSizwe

Ukunyamekela ukuphulukana nokuphambuka kuyisiphoso esilula ukuyenza xa uvavanya ukusebenza komlinganiso jikelele. Ngokungazihoxisi iinkampani eziye zaphazamiseka kulo nyaka, kulula ukuyiphatha irekhodi lomzila weenkampani ezisele. Abatyalomali bamazwe ngamazwe bahlalutya izitokhwe zangaphandle zifuna ukuhlawula ingqwalasela ngokukhawuleza kwimicimbi yokuxhamla, kuba kuyiphutha elilula ukwenza.

Ngokomzekelo, umtyalo-mali omhlaba wonke onomdla kwi-oyile yaseArgentina kunye negesi yegesi angenza iskrini se- American Depositary Receipts ("ADRs") esebenza kwindawo. Basenokufumana ukuba izitokisi ezidweliswe kwisikrini zixabiswa ngama-20% kunyaka odlulileyo. Ukuba ezinye iinkampani ziphelile ukuhlaselwa ngethuba elifanayo - kwaye azizange zivele kwi- screener - i-20% yokukhula kwezinga liphezulu.

Abatyalomali bamazwe ngamazwe banokuphepha ezi ngxaki ngokujonga iirekhodi zoluntu ukuchonga iinkampani eziye zaphazamiseka. Kwezinye iimeko, ezi nkampani zinokufumaneka lula kwimithombo yeendaba okanye iingxelo zehlalutyi ezibandakanya imboni. Kwezinye iimeko, abatyali-mali kufuneka babhekane nokufakela i-bankruptcy filings, izaziso zokulahla , okanye ezinye iirekhodi zoluntu ukufumana amanani anene.

Ukufumanisa ii-ETF ne-Funds

Abatyalomali bamazwe ngamazwe bafanele baqaphele ukunyamekela ngokuqhubekayo xa behlaziya ii-ETF kunye nezinye iimali. Nangona iimali ngokwabo zifuna ukuphendula le miba xa kubalwa ukusebenza kwabo, abatyala-mali belizwe lonke ukuhlola iindidi ezahlukeneyo ezijoliswe kwilizwe elithile okanye kwicandelo kubandakanya ubungozi obufanayo oboniswe kwicandelo elidlulileyo xa kuhlaziywa amasheya.

Ngokomzekelo, umtyalomali-mhlaba wonke unokujonga ukutyalomali kwiimpahla zaseRashiya kunye nekrini kwi-ETF yamazwe ngamazwe ngokuchithwa. Umtyalo-mali unokufumanisa ukuba ezi zilinganiso zivelise ukubuyela kwe-5% kunyaka odlulileyo, kodwa ukungaphumeleli ukubheka naziphi na ii-ETF ezivaliweyo kunyaka wonke zinokugqithisa le ntlawulo.

Ezi ngxaki zingagwenywa ngokuphanda iimali ezingavalwa. Ingxaki kukuba kunokubunzima ukuchonga le mali evela kwimithombo yoluntu.

Kwakhona, iingxelo zeendaba okanye iingxelo ezihlalutyo zihlala zibonelela ngeyona nto ingcaciso yokuqala, kodwa ingaba ingagqibekanga okanye ihlaziywe.

Ukuphepha i-Bias ne-ETFs

Ii-ETF zamazwe ngamazwe zinika indlela enkulu yokuba abatyali-mali bamanye amazwe baphephe iingxaki ezinxulumene nokuxhamla. Iifom esebenzisa isicwangciso esipheleleyo sokuphindaphinda isitokethi yonke iisitokhwe kwisalathisi, ngokuchasene nokusebenzisa izixhobo ezivela kwiimveliso ukuze zithengise, oku kuthetha ukuba bathenga kwaye bathengise amasheya ukulandelela inkcazo ngokukhawuleza kangangoko kwixesha elide.

Ngokujonga ii-ETF kwiindawo ezihlukeneyo ngexesha, abatyala-mali bamazwe ngamazwe banokwakha isiseko sedatha esineziqulatho zengxelo zembali yelizwe elinikeziweyo, ummandla, okanye olunye uhlobo lwe-ETF yamazwe ngamazwe. I-database isebenza ngokuphumelelayo kwindlela yokuphila engekho-mveliso yelizwe, okwenza ukuba uhlalutyo lwe -ADR kunye nokuthengwa kwamasheya lwangaphandle lulula.

Izimali zeFund zifumaneka lula kwiindawo ezininzi zeengxowa-mali okanye ii-prospectus, eziqhelekileyo ziqulethe ispredishithi ye-Excel yokukhuphela kwithuba elithile. Ukuba le mithombo ayitholakali, ii-ETF zimele zixele iimbono zabo rhoqo ngeSibini kwiifayile ze-NQ, ezinokufumaneka kwi-SEC.gov.

Amaphuzu athathweyo

• Ukunyamekela okuqhubekayo kwenzeka xa abatyala-mali behlabathi bephela bengabikho kwi-akhawunti yezinto ezingabikho xa kubalwa ukusebenza ngexesha.
• Ukuhlolwa kwamasheya angamazwe ngamazwe okanye ii-ETF zifaka ubungqina bokusasaza ngokususa ezo mpahla ezingabikho kwiingqalelo.
• Abatyalomali bamazwe ngamazwe banokuphepha ukunyamekela ngokuqhubekayo ngokusebenzisa ii-ETFs okanye ngamaziko e-ETF okanye ezinye izinto ezivaliwe.