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The Barron’s 400 ETF undergoes semi-annual rebalance


The Barron’s 400 ETF (BFOR), which seeks to track the Barron’s 400 Index, has completed its semi-annual rebalance based on the reconstitution of its underlying benchmark.

Technology companies showed the biggest increase in sector representation and now account for 15.50 per cent of the index.
Consumer discretionary and industrials, at 20 per cent and 18.75 per cent respectively, are the two sectors with the heaviest overall representation. Financials underwent the largest reduction but still represent 16.75 per cent of the index.
Some of the more prominent additions to the Barron’s 400 Index (B400) were Facebook, eBay, Monster Beverage, Fortress Investment Group and Paychex.
Since B400 is equally weighted at the beginning of each rebalance period, each new company added, along with all remaining components from the prior period, will represent 0.25 per cent of the index.
Some of the larger deletions included JP Morgan Chase, Celgene, Starbucks, Yahoo and Buffalo Wild Wings.
“The Barron’s 400 Index consistently selects some of the most promising public companies in the US based on their fundamental attributes,” says Carlos Diez, MarketGrader’s president and founder. “Our adherence to a consistent growth-at-a-reasonable price selection strategy remains a key to B400’s ongoing results.”
Following the rebalance after the close of trading on 21 March 2014, the average market cap of B400 was USD18.18bn, the average revenue was USD10.25bn, the average net income was USD1.21bn, the average return on equity was 50.5 per cent and the average operating margin was 22.8 per cent.
In total 153 companies were added to the index, a turnover rate of 38.25 per cent that was slightly below the historic average of 42 per cent.
There were 42 companies selected to the index for the first time ever, including Kraft Foods, Brown Forman, KKR & Co, Lions Gate Entertainment and Astronics.
Among current index constituents, the companies with the most selections to B400 since its inception are Microsoft, Wal-Mart, Bed Bath & Beyond, Home Depot, IBM, Nike, Oracle and Pepsi.

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