Ukufumanisa amandla e-ETF eguqukileyo

Kwihlabathi le-ETFs, kukho udidi olulodwa oluhlala lungaqatshelwa, kodwa lubalulekile kwabo bafuna iindlela ezintsonkothileyo neziqikelelwayo zotyalo-mali: ii-ETF eziguquliweyo. Ezi zixhobo zizixhobo ezinamandla ezivumela abatyali-mali ukuba bazuze ngokuwa, kunokunyuka, amaxabiso e-asethi ephantsi. Ngokungafaniyo nee-ETF zemveli, ezifuna ukuphindaphinda ukusebenza okunyukayo kwesalathiso okanye i-asethi, ii-ETF eziguqukileyo ziyilelwe ukuvelisa inzuzo xa amaxabiso esihla. Kweli nqaku siza kubona ukuba yintoni i-ETF eguqukileyo, yintoni na, umahluko abanayo ekuthengiseni okufutshane, iintlobo zee-ETF eziguquguqukayo kwaye siza kubona imeko yokwenyani ye-ETF. 

Yintoni i-ETF eguqukileyo?

I-ETF eguqukileyo yingxowa-mali yotshintshiselwano (ETF) eyakhiwe kusetyenziswa izinto eziphuma kwizinto ezahlukeneyo ukuze kufumaneke inzuzo ngokuhla kwexabiso lesalathiso somda osisiseko. Ukutyala imali kwii-ETF eziguquguqukayo kufana nokubamba izikhundla ezininzi ezimfutshane, ezibandakanya ukuboleka izibambiso kunye nokuzithengisa ngethemba lokuphinda uzithenge ngexabiso eliphantsi. I-ETF eguqukileyo ikwabizwa ngokuba yi "ETF emfutshane" okanye "i-ETF ye-bearish."

Zeziphi ii-ETF eziguquliweyo?

Ii-ETF ezininzi eziguquguqukayo zisebenzisa iikontraka zexesha elizayo ukuvelisa imbuyekezo yazo. Inkontileka yexesha elizayo yinkontileka yokuthenga okanye ukuthengisa i-asethi okanye ukhuseleko ngexesha elithile kunye nexabiso. Ikamva livumela abatyali-mali ukuba babheje kwicala lexabiso lokhuseleko. Ii-ETF eziguquguqukayo zisebenzisa izinto eziphuma kwi-derivatives (ezifana nezivumelwano zexesha elizayo) ezivumela abatyali-mali ukuba babheje ekuwohlokeni kwemarike. Ukuba imakethi iyawa, i-ETF eguqukileyo inyuka malunga nepesenti efanayo, thabatha imirhumo yomthengisi kunye neekhomishini. Ii-ETF eziguquguqukayo ayilulo utyalo-mali lwexesha elide, njengoko umphathi wengxowa-mali ethenga kwaye athengise iikhontrakthi eziphuma kuyo yonke imihla. Ngenxa yoko, akukho ndlela yokuqinisekisa ukuba i-ETF eguqukileyo iya kuhambelana nembuyekezo yexesha elide yesalathiso okanye izibambiso ezizilandelayo. Ukurhweba rhoqo kwandisa iindleko zengxowa-mali, kwaye ezinye ii-ETF eziguquguqukayo zinokuba neendleko ze-1% okanye ngaphezulu.

Ii-ETF eziNjalo ngokuchasene noThengiso olufutshane

Inzuzo yee-ETF eziguqukileyo kukuba ayifuni ukuba umtyali-mali agcine i-akhawunti ye-margin, njengoko kuya kuba njalo kubatyalo-mali abanqwenela ukuthatha izikhundla ezimfutshane. Iakhawunti yomda yenye apho umthengisi uboleka imali kumtyali-mali ukuba arhwebe ngayo. Umda usetyenziswa ngezithuba ezimfutshane, umsebenzi ophambili wokurhweba. Abatyali-mali abangena kwizikhundla ezimfutshane baboleka izibambiso abangenazo ukuze bazithengise kwabanye abarhwebi. Injongo kukuthenga kwakhona i-asethi ngexabiso eliphantsi kunye nokukhulula urhwebo ngokubuyisela izabelo kumbolekisi we-margin. Nangona kunjalo, kukho umngcipheko wokuba ixabiso lezokhuseleko liya kuphakama kunokuba liwe kwaye umtyalo-mali uya kufuneka athenge kwakhona ukhuseleko kwixabiso eliphezulu kunexabiso lokuthengisa lomda wokuqala.

Iintlobo zee-ETF eziguqukileyo

Kukho ii-ETF ezininzi eziguqukileyo ezinokusetyenziswa ukwenza inzuzo ngokuhla kwezalathisi zeemarike ezibanzi, ezifana noRussell 2000 okanye iNasdaq 100. Kukwakho nee-ETF eziguqukileyo ezinokusetyenziswa ukwenza inzuzo ngokuhla kwezalathisi zentengiso ebanzi, ezifana noRussell 2000. okanye i-Nasdaq 100. Kukwakho nee-ETF eziguquguqukayo ezijolise kumacandelo athile, njengezemali, amandla okanye iziseko zabathengi. Abanye abatyali-mali basebenzisa ii-ETF eziguquguqukayo ukuze bazuze ekuncipheni kweemarike, ngelixa abanye bezisebenzisa ukubiyela iipotifoliyo zabo ngokuchasene namaxabiso ahlayo. Ngokomzekelo, abatyali-mali abane-ETF ehambelana ne-S&P 500 banokubiyela i-S&P iyancipha ngokuba ne-ETF eguqukileyo ye-S&P. Nangona kunjalo, ukubiyelwa kwakhona kunemingcipheko yako. Ukuba i-S&P iyenyuka, abatyali-mali kuya kufuneka bathengise ii-ETF zabo eziguquguqukayo, njengoko beya kuba namava elahleko enokuphelisa nayiphi na inzuzo kutyalo-mali lwabo lokuqala kwi-S&P. Ii-ETF eziguquguqukayo zizixhobo zokurhweba zexesha elifutshane ekufuneka zibekwe ngexesha elifanelekileyo ukuze abatyali-mali benze imali. Kukho umngcipheko omkhulu welahleko ukuba abatyali-mali babela imali eninzi kakhulu kwi-ETFs kunye nexesha elibi lokungena kunye nokuphuma kwabo.

Umzekelo wokwenyani we-ETF eguqukileyo

I-ProShares Short S&P 500 (SH) inikeza utyhileko oluphambeneyo kwiinkampani ezinkulu neziphakathi kwi-S&P 500. Inomlinganiselo weendleko we-0,5 ngesabelo ngasinye. Inomlinganiselo weendleko we-0,90% kwaye ngaphezulu kwe-1.770 yezigidigidi zeedola kwii-asethi ezishiyekileyo. I-ETF yenzelwe ukubonelela ngokubheja kosuku olunye kwaye ayenzelwanga ukuba ibanjwe ngaphezu kosuku olunye. NgoFebruwari 2020, i-S&P yehla kwaye ngenxa yoko, ukusukela nge-17 kaFebruwari 2020, i-SH inyuke ukusuka kwi-23,19 yeedola ukuya kwi-28,22 yeedola nge-23 kaMatshi 2020. Ukuba abatyali mali bebekwi-SH Ngezo ntsuku, ngebenze inzuzo.