Small-Cap Companies Can Offer Promise Of High Returns, But How Does One Find Winners Given The Risks Involved? A Look Inside Infracap's SCAP ETF
Small-Cap Companies Can Offer Promise Of High Returns, But How Does One Find Winners Given The Risks Involved? A Look Inside Infracap's SCAP ETF
Small-cap companies are often overlooked by institutional and retail investors alike. They lack the sheen and popularity of the big names and often carry higher-than-average risk. Still, this volatility-related risk can be mitigated with a smart, active and well-diversified investing approach, and the returns can be lucrative.
小盤股公司經常被機構和散戶投資者所忽視。它們缺乏知名人士的光澤和知名度，而且風險往往高於平均水平。儘管如此，這種與波動相關的風險可以通過明智、積極和多元化的投資方法來緩解，而且回報可能豐厚。
That is exactly what the team at Infrastructure Capital Advisors aims to do with its InfraCap Small Cap Income ETF (NYSE:SCAP). The fund invests in a diverse set of small-cap companies seeking "above average yield" and "total return through a blended approach of capital appreciation and current income."
這正是基礎設施資本顧問團隊使用其InfraCap小盤股收益ETF（紐約證券交易所代碼：SCAP）的目標。該基金投資於各種各樣的小盤股公司，他們尋求 “高於平均水平的收益率” 和 “通過資本增值和當期收益的混合方法獲得總回報”。
An Active Approach
一種積極的方法
Success in small-cap investing requires constant research and tireless effort in order to stay ahead of the curve. Infracap drives investing decisions using a mix of quantitative and qualitative analysis. This analysis allows the team to potentially surpass passive benchmarked funds that cannot adjust to changes in the market.
小盤股投資的成功需要持續的研究和不懈的努力，才能保持領先地位。Infracap 結合定量和定性分析來推動投資決策。這種分析使該團隊有可能超越無法適應市場變化的被動基準基金。
Tax Benefits
稅收優惠
Traders who attempt to actively manage their own portfolio of small-cap investments can also run into myriad tax issues. Rather than selling securities, the structure of SCAP allows for an "in-kind" mechanism to meet redemptions. This means the ETF can avoid realizing capital gains, providing a favorable tax structure.
試圖積極管理自己的小盤股投資組合的交易者也可能遇到無數的稅收問題。SCAP的結構不出售證券，而是允許採用 “實物” 機制來滿足贖回需求。這意味着ETF可以避免實現資本收益，從而提供有利的稅收結構。
Performance
性能
Although past performance is no guarantee of future performance, it is worth taking a look at SCAP's track record compared to passive small-cap alternatives. SCAP has risen 4.68% in 2024 so far. In contrast, the Russell 2000 Index has gained 3.13%, and the iShares Morningstar Small-Cap ETF (NYSE:ISCB) is up only 2.09%.
儘管過去的表現並不能保證未來的表現，但與被動的小盤股替代品相比，SCAP的往績值得一看。到目前爲止，SCAP在2024年已經上漲了4.68％。相比之下，羅素2000指數上漲了3.13％，而iShares晨星小型股ETF（紐約證券交易所代碼：ISCB）僅上漲了2.09％。
Holdings
館藏
SCAP has 69 holdings, making it more targeted than many of its passive competitors. The fund's top ten holdings make up 38.2% of the fund.
SCAP擁有69筆股份，這使其比許多被動競爭對手更具針對性。該基金的前十大持股佔該基金的38.2％。
SCAP's current 5 largest holdings are as follows:
SCAP目前的5大持股量如下：
- iShares Russell 2000 ETF (NYSE:IWM) – 14.20% of the fund – This ETF is passively benchmarked to the Russell 2000 Index.
- MKS Instruments Inc (NASDAQ:MKSI) – 3.13% of the fund – MKS is a supplier of technologies critical for semiconductor manufacturing.
- Chord Energy Corp (NASDAQ:CHRD) – 2.96% of the fund – Chord is an energy exploration company operating in the Williston Basin of North Dakota and Montana.
- GoDaddy Inc (NYSE:GDDY) – 2.94% of the fund – GoDaddy is a technology company providing domain registry and web hosting services.
- Herc Holdings Inc (NYSE:HRI) – 2.88% of the fund – Herc is a construction and industrial equipment rental company.
- iShares Russell 2000 ETF（紐約證券交易所代碼：IWM）——該基金的14.20％——該ETF被動地以羅素2000指數爲基準。
- MKS儀器公司（納斯達克股票代碼：MKSI）——佔該基金的3.13％——MKS是半導體制造關鍵技術的供應商。
- 喬德能源公司（納斯達克股票代碼：CHRD）——佔該基金的2.96％——Chord是一家能源勘探公司，在北達科他州和蒙大拿州的威利斯頓盆地開展業務。
- GoDaddy公司（紐約證券交易所代碼：GDDY）——佔該基金的2.94％——GoDaddy是一家提供域名註冊和虛擬主機服務的科技公司。
- Herc控股公司（紐約證券交易所代碼：HRI）——佔該基金的2.88％——Herc是一家建築和工業設備租賃公司。
Featured photo by Markus Winkler on Unsplash.
由 Markus Winkler 在 Unsplash 上拍攝的精選照片。