Kseries21
2021-08-31
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GameStop Stock Rally Passes by Some Previous Winners<blockquote>游戏驿站股市涨势超越了一些之前的赢家</blockquote>
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But by August, <a href=\"https://laohu8.com/S/GME\">GameStop</a> shares represented less than 1% of the fund’s assets. So when the stock took flight again last week, rising nearly 30%, the ETF gained just 2%.</p><p><blockquote><a href=\"https://laohu8.com/S/STT\">状态</a>Street's SPDR S&P Retail ETF 大致<a href=\"https://laohu8.com/S/AONE.U\">一</a>-其五分之一的资产今年早些时候上涨了 2.07%,帮助其在 1 月份获得了 37% 的回报率。但到了八月,<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>股票占基金资产的比例不到 1%。因此,当该股上周再次上涨近 30% 时,ETF 仅上涨了 2%。</blockquote></p><p> The results underscore the swirling dynamics facing fund managers and others at a time of outsize gains in a handful of red-hot stocks. While some ETFs that invested in these firms last year have continued to reap gains, others have retreated from the shares in a bid to reduce risk and ended up missing out on fresh windfalls, potentially pressuring performance.</p><p><blockquote>结果凸显了在少数热门股票大幅上涨之际,基金经理和其他人面临的旋转动态。虽然去年投资于这些公司的一些 ETF 继续获利,但其他 ETF 为了降低风险而退出股票,最终错过了新的意外之财,这可能会给业绩带来压力。</blockquote></p><p> “A lot of people say we’re capping the upside, but we’re also mitigating the downside of a single stock that could blow up your investment thesis,” said Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors.</p><p><blockquote>“道富环球顾问公司(State Street Global Advisors)SPDR 美洲研究主管马特-巴托里尼(Matt Bartolini)说:”很多人说我们在限制上涨空间,但我们也在减轻一只股票的下跌空间,因为这可能会破坏你的投资论点。</blockquote></p><p> State Street’s retail ETF, which trades under the ticker symbol XRT, offers a way for investors to bet on a swath of the retail sector, usually giving roughly equal exposure to GameStop as to the industry juggernaut, <a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> Inc.</p><p><blockquote>道富银行的零售 ETF 股票代码为 XRT,为投资者提供了一种押注零售行业的方式,通常对游戏驿站的敞口与对行业巨头的敞口大致相同、<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>公司。</blockquote></p><p> A big run-up in a particular stock, like with GameStop, over a brief stretch can dramatically reshape the $1.1 billion fund’s makeup. GameStop’s surge made it XRT’s biggest holding in late January and was the key contributor to the ETF’s best month ever. The position was so big, many traders on Reddit and other social-media sites began pitching the ETF as a way to play GameStop when some brokerages blocked users from trading shares.</p><p><blockquote>某只股票(如游戏驿站)在短时间内大幅上涨,可能会极大地重塑这只 11 亿美元基金的构成。游戏驿站的飙升使其成为 XRT 在 1 月下旬最大的持仓,也是该 ETF 有史以来最佳月份的主要原因。头寸如此之大,以至于当一些经纪公司阻止用户交易股票时,Reddit 和其他社交媒体网站上的许多交易员开始将 ETF 作为玩游戏驿站的一种方式。</blockquote></p><p> GameStop’s big weight also made it a liability a month later: Shares of the videogame retailer fell nearly 70% in February, pulling XRT down 10%.</p><p><blockquote>一个月后,游戏驿站的重量级也让它成为了一种负担: 这家视频游戏零售商的股价在 2 月份下跌了近 70%,拖累 XRT 下跌了 10%。</blockquote></p><p> When the ETF conducted its quarterly rebalance in March, XRT sold enough GameStop shares to bring the stock’s weighting in line with the other holdings. Immediately, the fund’s moves were more subdued even as GameStop shares continued to swing.</p><p><blockquote>当该 ETF 在 3 月份进行季度再平衡时,XRT 出售了足够多的游戏驿站股票,使该股的权重与其他持股保持一致。尽管游戏驿站股价持续波动,但该基金的走势立即变得更加低调。</blockquote></p><p> Performance also has been more muted. XRT shares are little changed this month even as GameStop’s are up 30%.</p><p><blockquote>性能也变得更加低调。尽管游戏驿站的股价上涨了 30%,但 XRT 的股价本月变化不大。</blockquote></p><p> The ETF is “meant to provide exposure to the retail industry. One security shouldn’t dominate the returns,” said Mr. Bartolini. Maintaining broad exposure to all of the fund’s holdings is a goal for the ETF and part of why it isn’t weighted by market capitalization, he said.</p><p><blockquote>该 ETF “旨在提供对零售业的投资。巴托里尼先生说:”一种证券不应主导回报。他说,保持对基金所有持股的广泛投资是 ETF 的一个目标,也是 ETF 不按市值加权的部分原因。</blockquote></p><p> A videogame ETF run by Wedbush and ETFMG also cut back on its hefty GameStop position. Shares of theWedbush ETFMG Video Game Tech ETF, or GAMR, rose 36% in January. The videogame ETF sold GameStop stock in March and led the fund to impose a 15% ceiling on any one holding, said Ted Pollak, founder and president of GAMR’s index provider.</p><p><blockquote>Wedbush 和 ETFMG 运营的视频游戏 ETF 也削减了其庞大的游戏驿站头寸。Wedbush ETFMG 视频游戏技术 ETF(GAMR)的股价在 1 月份上涨了 36%。GAMR 指数提供商的创始人兼总裁特德-波拉克(Ted Pollak)说,视频游戏 ETF 在 3 月份出售了游戏驿站股票,并导致该基金对任何一只股票的持有设定了 15% 的上限。</blockquote></p><p> <a href=\"https://laohu8.com/S/IVZ\">Invesco</a>’s$1.4 billionDynamic Leisure and Entertainment ETFsold all of itsAMC Entertainment Holdingsshares on June 2 after the position ballooned to 18% of the fund’s assets from 2.7% in March. The reason: The movie-theater chain no longer met the index’s criteria for inclusion.</p><p><blockquote><a href=\"https://laohu8.com/S/IVZ\">景顺</a>14 亿新元的动态休闲娱乐 ETF 于 6 月 2 日出售了其所有 SAMC Entertainment Holdings 股票,此前该基金的持仓比例从 3 月份的 2.7% 飙升至基金资产的 18%。原因: 该连锁影院不再符合该指数的纳入标准。</blockquote></p><p> The decision has paid off for fundholders, the firm says. While the ETF is down 5% since the rebalancing, AMC shares have fallen about 16%.</p><p><blockquote>该公司表示,这一决定为基金持有人带来了回报。虽然 ETF 自重新平衡以来已下跌 5%,但 AMC 股价已下跌约 16%。</blockquote></p><p> “It’s a challenging situation for a person to sell on that particular day having seen the stock up more than six times,” said John Hoffman, Invesco’s head of ETFs and indexed strategies for the Americas. “ETFs take some of the emotion out of the process.”</p><p><blockquote>“景顺美洲 ETF 和指数策略主管约翰-霍夫曼(John Hoffman)说:”对于一个人来说,在看到股票上涨了六倍多的情况下,在那一天卖出股票是一个具有挑战性的情况。“ETF 在这个过程中消除了一些情绪”。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop Stock Rally Passes by Some Previous Winners<blockquote>游戏驿站股市涨势超越了一些之前的赢家</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop Stock Rally Passes by Some Previous Winners<blockquote>游戏驿站股市涨势超越了一些之前的赢家</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-08-31 07:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p> <b>A number of exchange-traded funds that benefited from the early-year surge in meme stocks have since backed away.</b> Many exchange-traded funds that scored big on the meme-stock craze earlier this year are missing out on large gains this time around.</p><p><blockquote><b>许多受益于年初 meme 股票飙升的交易所交易基金此后纷纷撤退。</b>许多在今年早些时候因模因股票热潮而大赚一笔的交易所交易基金,这次却错过了大幅涨幅。</blockquote></p><p> <a href=\"https://laohu8.com/S/STT\">State</a> Street’sSPDR S&P Retail ETFhad roughly <a href=\"https://laohu8.com/S/AONE.U\">one</a>-fifth of its assets inGameStopGME2.07%earlier this year, helping it score a 37% return in January. But by August, <a href=\"https://laohu8.com/S/GME\">GameStop</a> shares represented less than 1% of the fund’s assets. So when the stock took flight again last week, rising nearly 30%, the ETF gained just 2%.</p><p><blockquote><a href=\"https://laohu8.com/S/STT\">状态</a>Street's SPDR S&P Retail ETF 大致<a href=\"https://laohu8.com/S/AONE.U\">一</a>-其五分之一的资产今年早些时候上涨了 2.07%,帮助其在 1 月份获得了 37% 的回报率。但到了八月,<a href=\"https://laohu8.com/S/GME\">游戏驿站</a>股票占基金资产的比例不到 1%。因此,当该股上周再次上涨近 30% 时,ETF 仅上涨了 2%。</blockquote></p><p> The results underscore the swirling dynamics facing fund managers and others at a time of outsize gains in a handful of red-hot stocks. While some ETFs that invested in these firms last year have continued to reap gains, others have retreated from the shares in a bid to reduce risk and ended up missing out on fresh windfalls, potentially pressuring performance.</p><p><blockquote>结果凸显了在少数热门股票大幅上涨之际,基金经理和其他人面临的旋转动态。虽然去年投资于这些公司的一些 ETF 继续获利,但其他 ETF 为了降低风险而退出股票,最终错过了新的意外之财,这可能会给业绩带来压力。</blockquote></p><p> “A lot of people say we’re capping the upside, but we’re also mitigating the downside of a single stock that could blow up your investment thesis,” said Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors.</p><p><blockquote>“道富环球顾问公司(State Street Global Advisors)SPDR 美洲研究主管马特-巴托里尼(Matt Bartolini)说:”很多人说我们在限制上涨空间,但我们也在减轻一只股票的下跌空间,因为这可能会破坏你的投资论点。</blockquote></p><p> State Street’s retail ETF, which trades under the ticker symbol XRT, offers a way for investors to bet on a swath of the retail sector, usually giving roughly equal exposure to GameStop as to the industry juggernaut, <a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> Inc.</p><p><blockquote>道富银行的零售 ETF 股票代码为 XRT,为投资者提供了一种押注零售行业的方式,通常对游戏驿站的敞口与对行业巨头的敞口大致相同、<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>公司。</blockquote></p><p> A big run-up in a particular stock, like with GameStop, over a brief stretch can dramatically reshape the $1.1 billion fund’s makeup. GameStop’s surge made it XRT’s biggest holding in late January and was the key contributor to the ETF’s best month ever. The position was so big, many traders on Reddit and other social-media sites began pitching the ETF as a way to play GameStop when some brokerages blocked users from trading shares.</p><p><blockquote>某只股票(如游戏驿站)在短时间内大幅上涨,可能会极大地重塑这只 11 亿美元基金的构成。游戏驿站的飙升使其成为 XRT 在 1 月下旬最大的持仓,也是该 ETF 有史以来最佳月份的主要原因。头寸如此之大,以至于当一些经纪公司阻止用户交易股票时,Reddit 和其他社交媒体网站上的许多交易员开始将 ETF 作为玩游戏驿站的一种方式。</blockquote></p><p> GameStop’s big weight also made it a liability a month later: Shares of the videogame retailer fell nearly 70% in February, pulling XRT down 10%.</p><p><blockquote>一个月后,游戏驿站的重量级也让它成为了一种负担: 这家视频游戏零售商的股价在 2 月份下跌了近 70%,拖累 XRT 下跌了 10%。</blockquote></p><p> When the ETF conducted its quarterly rebalance in March, XRT sold enough GameStop shares to bring the stock’s weighting in line with the other holdings. Immediately, the fund’s moves were more subdued even as GameStop shares continued to swing.</p><p><blockquote>当该 ETF 在 3 月份进行季度再平衡时,XRT 出售了足够多的游戏驿站股票,使该股的权重与其他持股保持一致。尽管游戏驿站股价持续波动,但该基金的走势立即变得更加低调。</blockquote></p><p> Performance also has been more muted. XRT shares are little changed this month even as GameStop’s are up 30%.</p><p><blockquote>性能也变得更加低调。尽管游戏驿站的股价上涨了 30%,但 XRT 的股价本月变化不大。</blockquote></p><p> The ETF is “meant to provide exposure to the retail industry. One security shouldn’t dominate the returns,” said Mr. Bartolini. Maintaining broad exposure to all of the fund’s holdings is a goal for the ETF and part of why it isn’t weighted by market capitalization, he said.</p><p><blockquote>该 ETF “旨在提供对零售业的投资。巴托里尼先生说:”一种证券不应主导回报。他说,保持对基金所有持股的广泛投资是 ETF 的一个目标,也是 ETF 不按市值加权的部分原因。</blockquote></p><p> A videogame ETF run by Wedbush and ETFMG also cut back on its hefty GameStop position. Shares of theWedbush ETFMG Video Game Tech ETF, or GAMR, rose 36% in January. The videogame ETF sold GameStop stock in March and led the fund to impose a 15% ceiling on any one holding, said Ted Pollak, founder and president of GAMR’s index provider.</p><p><blockquote>Wedbush 和 ETFMG 运营的视频游戏 ETF 也削减了其庞大的游戏驿站头寸。Wedbush ETFMG 视频游戏技术 ETF(GAMR)的股价在 1 月份上涨了 36%。GAMR 指数提供商的创始人兼总裁特德-波拉克(Ted Pollak)说,视频游戏 ETF 在 3 月份出售了游戏驿站股票,并导致该基金对任何一只股票的持有设定了 15% 的上限。</blockquote></p><p> <a href=\"https://laohu8.com/S/IVZ\">Invesco</a>’s$1.4 billionDynamic Leisure and Entertainment ETFsold all of itsAMC Entertainment Holdingsshares on June 2 after the position ballooned to 18% of the fund’s assets from 2.7% in March. The reason: The movie-theater chain no longer met the index’s criteria for inclusion.</p><p><blockquote><a href=\"https://laohu8.com/S/IVZ\">景顺</a>14 亿新元的动态休闲娱乐 ETF 于 6 月 2 日出售了其所有 SAMC Entertainment Holdings 股票,此前该基金的持仓比例从 3 月份的 2.7% 飙升至基金资产的 18%。原因: 该连锁影院不再符合该指数的纳入标准。</blockquote></p><p> The decision has paid off for fundholders, the firm says. While the ETF is down 5% since the rebalancing, AMC shares have fallen about 16%.</p><p><blockquote>该公司表示,这一决定为基金持有人带来了回报。虽然 ETF 自重新平衡以来已下跌 5%,但 AMC 股价已下跌约 16%。</blockquote></p><p> “It’s a challenging situation for a person to sell on that particular day having seen the stock up more than six times,” said John Hoffman, Invesco’s head of ETFs and indexed strategies for the Americas. “ETFs take some of the emotion out of the process.”</p><p><blockquote>“景顺美洲 ETF 和指数策略主管约翰-霍夫曼(John Hoffman)说:”对于一个人来说,在看到股票上涨了六倍多的情况下,在那一天卖出股票是一个具有挑战性的情况。“ETF 在这个过程中消除了一些情绪”。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源:<a href=\"https://www.wsj.com/articles/gamestop-stock-rally-passes-by-some-previous-winners-11630324981?mod=markets_lead_pos4\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验,我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.wsj.com/articles/gamestop-stock-rally-passes-by-some-previous-winners-11630324981?mod=markets_lead_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143612003","content_text":"A number of exchange-traded funds that benefited from the early-year surge in meme stocks have since backed away.\n\nMany exchange-traded funds that scored big on the meme-stock craze earlier this year are missing out on large gains this time around.\nState Street’sSPDR S&P Retail ETFhad roughly one-fifth of its assets inGameStopGME2.07%earlier this year, helping it score a 37% return in January. But by August, GameStop shares represented less than 1% of the fund’s assets. So when the stock took flight again last week, rising nearly 30%, the ETF gained just 2%.\nThe results underscore the swirling dynamics facing fund managers and others at a time of outsize gains in a handful of red-hot stocks. While some ETFs that invested in these firms last year have continued to reap gains, others have retreated from the shares in a bid to reduce risk and ended up missing out on fresh windfalls, potentially pressuring performance.\n“A lot of people say we’re capping the upside, but we’re also mitigating the downside of a single stock that could blow up your investment thesis,” said Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors.\nState Street’s retail ETF, which trades under the ticker symbol XRT, offers a way for investors to bet on a swath of the retail sector, usually giving roughly equal exposure to GameStop as to the industry juggernaut, Amazon.com Inc.\nA big run-up in a particular stock, like with GameStop, over a brief stretch can dramatically reshape the $1.1 billion fund’s makeup. GameStop’s surge made it XRT’s biggest holding in late January and was the key contributor to the ETF’s best month ever. The position was so big, many traders on Reddit and other social-media sites began pitching the ETF as a way to play GameStop when some brokerages blocked users from trading shares.\nGameStop’s big weight also made it a liability a month later: Shares of the videogame retailer fell nearly 70% in February, pulling XRT down 10%.\nWhen the ETF conducted its quarterly rebalance in March, XRT sold enough GameStop shares to bring the stock’s weighting in line with the other holdings. Immediately, the fund’s moves were more subdued even as GameStop shares continued to swing.\nPerformance also has been more muted. XRT shares are little changed this month even as GameStop’s are up 30%.\nThe ETF is “meant to provide exposure to the retail industry. One security shouldn’t dominate the returns,” said Mr. Bartolini. Maintaining broad exposure to all of the fund’s holdings is a goal for the ETF and part of why it isn’t weighted by market capitalization, he said.\nA videogame ETF run by Wedbush and ETFMG also cut back on its hefty GameStop position. Shares of theWedbush ETFMG Video Game Tech ETF, or GAMR, rose 36% in January. The videogame ETF sold GameStop stock in March and led the fund to impose a 15% ceiling on any one holding, said Ted Pollak, founder and president of GAMR’s index provider.\nInvesco’s$1.4 billionDynamic Leisure and Entertainment ETFsold all of itsAMC Entertainment Holdingsshares on June 2 after the position ballooned to 18% of the fund’s assets from 2.7% in March. The reason: The movie-theater chain no longer met the index’s criteria for inclusion.\nThe decision has paid off for fundholders, the firm says. While the ETF is down 5% since the rebalancing, AMC shares have fallen about 16%.\n“It’s a challenging situation for a person to sell on that particular day having seen the stock up more than six times,” said John Hoffman, Invesco’s head of ETFs and indexed strategies for the Americas. “ETFs take some of the emotion out of the process.”","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":2499,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":33,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/818938201"}
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