Rise of the broker dealers (IAI)

Mukul Pal · March 11, 2013

The ISHARES DJ US BROKER DEALERS (IAI) ETF is up 26% in 93 days. While the S&P 500 is up 8% in the last 90 days. The IAI ETF is a part of the ORMI ETF 5. ORMI selects components based on performance rankings and potential reversion. IAI was a worst performer which ORMI picked up. What’s interesting however is the fact that IAI too knew something about the rise of the DOW to new historical high. This is in sync with our call on KCE (Capital Market SPDR).

iShares Dow Jones U.S. Broker-Dealers Index Fund (the Fund) seeks investment results that correspond generally to the price and yield performance of the Dow Jones U.S. Select Investment Services Index (the Index). The Index measures the performance of the investment services sector of the United States equity market, and includes companies providing a range of specialized financial services, including securities brokers and dealers, online brokers and securities or commodities exchanges.