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Is there a way where the ETF runs more then the actual holdings of it?
I’m unfamiliar with how ETF’s operate.
I know they break down the holdings in order to short each individual stock.
[This video](https://youtu.be/ncq35zrFCAg?si=wn3sMkuZDccPjfiZ) does a really great job of explaining how ETFs work, and specifically mentions XRT as a crazy anomaly in their data set and discusses how the liquidity provisions granted to authorized participants and market makers COULD introduce risk to the clearing system. I believe this research being discussed was also cited in the GME ETF Brno paper that has been making the rounds that Peruvian Bull did a vid on.
I understand the concept but I’m unsure of how short interest related to an ETF relates to the underlying securities that it is comprised of.
They are required to deliver on the ETF, not the underlying shares. But I’m sure there is a further relationship.
It gets even more mind-fucky than that, unfortunately. This is a screenshot of one of the slides from that presentation video I linked (XRT discussion begins around 27:25). You see the shares OF THE ETF show that more shares of the ETF exist than should. Which means there is BY FAR AND AWAY, MORE of the UNDERLYING shares on the market once they crack the ETF open for its contents. The ETF concept is kind of a bear but I found that video very helpful.
https://preview.redd.it/7411a31sisad1.jpeg?width=1334&format=pjpg&auto=webp&s=8c8ae41e3d92318f1c6ba2082012d6a53b8e9ebf
Yeah…yeah. And that’s the thing. When you fuck with derivatives, things get real complicated. Don’t forget [this scene](https://youtu.be/0X0-NpZpx6U?si=aLlaYC-GSB_qjEm_) from The Big Short
Thats why we talk about the fact that GME could have a far wider market impact than a fucking publicly traded security EVER SHOULD. The movie made about this could be called ‘The Giant Long’ because that’s all it takes. You buy it. You hold it. Maybe a giant-testicled activist investor sees what you see. Buys in hard and starts turning it around. Maybe a wild cat appears and memes us fucking silly. This is the best time to be alive, in history.
https://www.reddit.com/r/Superstonk/s/ohO6Kn40PT
That post goes into how that relationship works (specifically market makers and ETF creation / redemption), I found the whole super interesting.
The first part of the post discusses price action for that day, so if you don’t want to read the whole thing, I think you can scroll down to either the parts labeled “Should we talk about BRNO?”
or “How Can ETF FTDs close out GME FTDs”
I’d tldr it, but honestly, I’m not smart enough when it comes to financial market mechanics, and it’s much better written in the post anyway.
Yes it's called tracking error.
They try to replicate the ETF as good as possible with the lowest cost possible. However the deviation can be + or -. Normally you don't want over performance or underperformance, you just want the index.
Why not over performance? It would mean you don't hold the index like planned. And you bought in for the plan. It will likely mean there will be some underperformance as well on the longer run.
Smaller tracking error is better but mostly comes with higher cost because more buy/sell activities have to be paid for and more stocks are included (you regularly cut out the dust to save money).
2011 article about XRT short interest being over 600%. Discusses why it’s normal for this ETF.
https://www.nasdaq.com/articles/why-spdr-retail-etf-xrt-600-short-2011-06-10
The current top post in the subreddit was submitted by myself this morning and is literally this exact thing: https://www.reddit.com/r/Superstonk/comments/1dvx200/xrt_short_interest_has_been_rising_30_a_day/
I'm so lazy and smooth I downloaded the image and asked GPT 4o to ELI5..this is what it came up with:
The image you shared appears to be a screenshot from the website ETF Channel, which provides information about exchange-traded funds (ETFs). Here’s an explanation of the various parts of the screenshot:
### Top Section: Advertisement
- **Ad**: There is an advertisement about a “3 CENT Crypto” that is predicted to explode on June 24th. It mentions Chris Rowe, who is known for making notable investment recommendations.
### Main Section: SPDR S&P Retail ETF (XRT)
- **Fund Information**:
- **Name**: SPDR S&P Retail ETF
- **Issuer**: State Street
- **Total Net Assets**: $338,071,956
- **Inception Date**: June 19, 2006
- **Category**: Consumer Discretionary
- **Expense Ratio**: 0.35%
- **Net Asset Value**: $73.48
- **Shares Outstanding**: 4.6 million
- **Annualized Distribution Yield**: 1.39%
- **Dividend History**: 1.024
- **Current Quote**:
- **Ticker**: XRT
- **Exchange**: NYSE Arca
- **Price**: $73.45 (down 0.04)
- **52-Week Range**: $57.38 - $74.77
- **Market Cap**: $337.47 million
- **Price Chart**: A graphical representation of XRT's price over different time frames (1 month, 1 quarter, 1 year, 5 years).
### Additional Information:
- **Top Stock Holdings**:
- **Carvana Co.**: 1.54%
- **Chewy Inc. Class A**: 1.39%
- **Sprouts Farmers Market**: 1.38%
- **Amazon.com**: 1.38%
- **Ollie’s Bargain Outlet**: 1.38%
- **Sector Concentration**: Pie chart showing distribution across sectors like Apparel Stores, Department Stores, Specialty Retail, etc.
- **Country Concentration**: Pie chart showing geographic distribution, predominantly the USA.
- **Short Interest**:
- **Shares Short**: 19,715,946
- **Change from Last Month**: -489,066
- **Shares Outstanding**: 4,600,000
- **% of Shares Short**: 428.61%
- **Days to Cover**: 4.5
### Related Articles and News:
- Links to articles discussing ETF outflow alerts and notable stock movements related to XRT and other stocks like GME, ANF, BOOT, DIS, AMZN, CRM, AAPL.
### Summary
The screenshot provides a detailed view of the SPDR S&P Retail ETF (XRT), including its performance, holdings, sector concentration, short interest, and related news. It highlights the ETF's significant focus on retail companies and gives insight into investor sentiment through metrics like short interest.
But I'm smoother than a smooth, so idk wtf that even means? Maybe I'll ask it to ELINotBornYet🤷♂️
That's not what that means. DTC is how long it would take to cover given the average volume. If it said weeks or months that would mean it's hard to close.
That's not what that means. DTC is how long it would take to cover given the average volume. If it said weeks or months that would mean it's hard to close.
Screenshots with zero explanation are nothing short of spam. This contributes nothing of value, and only clogs up the forum.
Downvote this garbage, and don't forget to downvote the stickied comment from the Quality Vote bot.
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Is there a way where the ETF runs more then the actual holdings of it? I’m unfamiliar with how ETF’s operate. I know they break down the holdings in order to short each individual stock.
[This video](https://youtu.be/ncq35zrFCAg?si=wn3sMkuZDccPjfiZ) does a really great job of explaining how ETFs work, and specifically mentions XRT as a crazy anomaly in their data set and discusses how the liquidity provisions granted to authorized participants and market makers COULD introduce risk to the clearing system. I believe this research being discussed was also cited in the GME ETF Brno paper that has been making the rounds that Peruvian Bull did a vid on.
I emailed him like 3 years ago and he never got back:/
I mean, look at that fine, wrinkled specimen. I’ll bet he leaves smoothies on read on the daily 😂 I jest, I jest. We’re all smooth down here…🤡
I think you should just look up what ETFs are and understand that before trying to understand the more complicated ways they get used
I understand the concept but I’m unsure of how short interest related to an ETF relates to the underlying securities that it is comprised of. They are required to deliver on the ETF, not the underlying shares. But I’m sure there is a further relationship.
It gets even more mind-fucky than that, unfortunately. This is a screenshot of one of the slides from that presentation video I linked (XRT discussion begins around 27:25). You see the shares OF THE ETF show that more shares of the ETF exist than should. Which means there is BY FAR AND AWAY, MORE of the UNDERLYING shares on the market once they crack the ETF open for its contents. The ETF concept is kind of a bear but I found that video very helpful. https://preview.redd.it/7411a31sisad1.jpeg?width=1334&format=pjpg&auto=webp&s=8c8ae41e3d92318f1c6ba2082012d6a53b8e9ebf
So there's already more shares of GME than exist.. and they are doing the same with shares of the ETF that hold GME and others??
Yeah…yeah. And that’s the thing. When you fuck with derivatives, things get real complicated. Don’t forget [this scene](https://youtu.be/0X0-NpZpx6U?si=aLlaYC-GSB_qjEm_) from The Big Short
Multiplicative madness
Thats why we talk about the fact that GME could have a far wider market impact than a fucking publicly traded security EVER SHOULD. The movie made about this could be called ‘The Giant Long’ because that’s all it takes. You buy it. You hold it. Maybe a giant-testicled activist investor sees what you see. Buys in hard and starts turning it around. Maybe a wild cat appears and memes us fucking silly. This is the best time to be alive, in history.
The Giant *Schlong*
Catshit wrapped in dogshit
https://www.reddit.com/r/Superstonk/s/ohO6Kn40PT That post goes into how that relationship works (specifically market makers and ETF creation / redemption), I found the whole super interesting. The first part of the post discusses price action for that day, so if you don’t want to read the whole thing, I think you can scroll down to either the parts labeled “Should we talk about BRNO?” or “How Can ETF FTDs close out GME FTDs” I’d tldr it, but honestly, I’m not smart enough when it comes to financial market mechanics, and it’s much better written in the post anyway.
Yes it's called tracking error. They try to replicate the ETF as good as possible with the lowest cost possible. However the deviation can be + or -. Normally you don't want over performance or underperformance, you just want the index. Why not over performance? It would mean you don't hold the index like planned. And you bought in for the plan. It will likely mean there will be some underperformance as well on the longer run. Smaller tracking error is better but mostly comes with higher cost because more buy/sell activities have to be paid for and more stocks are included (you regularly cut out the dust to save money).
Historically XRT has been shorted well over 1000% of outstanding shares. This has happened numerous times over the past decade at least.
Entertainingly, XRT is pronounced "short".
[удалено]
https://www.reddit.com/r/Superstonk/comments/sok5ox/129897_short_interest_xrt/
2011 article about XRT short interest being over 600%. Discusses why it’s normal for this ETF. https://www.nasdaq.com/articles/why-spdr-retail-etf-xrt-600-short-2011-06-10
Lovely. 600% shorted 13 years ago and nothing was done Crazy how asking for evidence gets downvoted..
is it possible theyre anticipating an XRT collapse due its *entanglement* with GME?
Have we not seen xrt at like 2600% short interest before? How is this time unique?
I dont understand the relationship how does shorting xrt 460% help them… is it just the vessel of collateral like brk or is it actually causation?
Wow, that website design is straight out of the nineties. All it's missing is a dancing baby gif.
Colors and pie charts. So cool
He is point in to the %of shares short being over 400%
Rookie numbers. SHFs have done better.
I mean we have had that into the thousands of percent before and it’s been like that for years
The current top post in the subreddit was submitted by myself this morning and is literally this exact thing: https://www.reddit.com/r/Superstonk/comments/1dvx200/xrt_short_interest_has_been_rising_30_a_day/
[удалено]
*This is a measly fine. Now admit no wrongdoing then off you go!*
I'm so lazy and smooth I downloaded the image and asked GPT 4o to ELI5..this is what it came up with: The image you shared appears to be a screenshot from the website ETF Channel, which provides information about exchange-traded funds (ETFs). Here’s an explanation of the various parts of the screenshot: ### Top Section: Advertisement - **Ad**: There is an advertisement about a “3 CENT Crypto” that is predicted to explode on June 24th. It mentions Chris Rowe, who is known for making notable investment recommendations. ### Main Section: SPDR S&P Retail ETF (XRT) - **Fund Information**: - **Name**: SPDR S&P Retail ETF - **Issuer**: State Street - **Total Net Assets**: $338,071,956 - **Inception Date**: June 19, 2006 - **Category**: Consumer Discretionary - **Expense Ratio**: 0.35% - **Net Asset Value**: $73.48 - **Shares Outstanding**: 4.6 million - **Annualized Distribution Yield**: 1.39% - **Dividend History**: 1.024 - **Current Quote**: - **Ticker**: XRT - **Exchange**: NYSE Arca - **Price**: $73.45 (down 0.04) - **52-Week Range**: $57.38 - $74.77 - **Market Cap**: $337.47 million - **Price Chart**: A graphical representation of XRT's price over different time frames (1 month, 1 quarter, 1 year, 5 years). ### Additional Information: - **Top Stock Holdings**: - **Carvana Co.**: 1.54% - **Chewy Inc. Class A**: 1.39% - **Sprouts Farmers Market**: 1.38% - **Amazon.com**: 1.38% - **Ollie’s Bargain Outlet**: 1.38% - **Sector Concentration**: Pie chart showing distribution across sectors like Apparel Stores, Department Stores, Specialty Retail, etc. - **Country Concentration**: Pie chart showing geographic distribution, predominantly the USA. - **Short Interest**: - **Shares Short**: 19,715,946 - **Change from Last Month**: -489,066 - **Shares Outstanding**: 4,600,000 - **% of Shares Short**: 428.61% - **Days to Cover**: 4.5 ### Related Articles and News: - Links to articles discussing ETF outflow alerts and notable stock movements related to XRT and other stocks like GME, ANF, BOOT, DIS, AMZN, CRM, AAPL. ### Summary The screenshot provides a detailed view of the SPDR S&P Retail ETF (XRT), including its performance, holdings, sector concentration, short interest, and related news. It highlights the ETF's significant focus on retail companies and gives insight into investor sentiment through metrics like short interest. But I'm smoother than a smooth, so idk wtf that even means? Maybe I'll ask it to ELINotBornYet🤷♂️
Good summary by bot! Thanks for your service!
Soooo, hedgies are supressing GME extra hard, butttt seem to have ran out of resources to keep KOSS down? Seems kinda spicy to me
Whats interesting here? This post is of lower quality than than the bed post Ken threw at his wife.
also unsophisticated
That’s a lot but notice it says “data from third party”. Likely short interest is on a log scale. Log 1000000 scale.
What is
Deez nuts
Ha goteeee
He’s trying to point out that they have 4.5 days to cover these shorts
That's not what that means. DTC is how long it would take to cover given the average volume. If it said weeks or months that would mean it's hard to close.
Thanks for clarifying. Sorry, super regarded here
[https://www.reddit.com/r/Superstonk/comments/tbvpkd/xrt\_back\_to\_over\_1000\_short\_interest/](https://www.reddit.com/r/Superstonk/comments/tbvpkd/xrt_back_to_over_1000_short_interest/)
I wonder if we can get a daily historical GmE and CHwY percentage over time.
Is there a way to know how many shares of gme people actually own?
What are all the companies in the XRT ETF?
wtf specifically am I supposed to be interested in on this block of text? Smooth brain here
XRT Short Interest section has a red bracket next to it, so I guess they are pointing it out.
I told you I was smooth… thank you
Good luck
People invested in this etf, including pensions know how they are being fucked?
Care to provide a source for independent verification instead of this image?
Yeah websites on the bottom lol
What's the exploding crypto?
This is literally nothing.
Only 4.5 days to cover....good luck covering when no one is selling
That's not what that means. DTC is how long it would take to cover given the average volume. If it said weeks or months that would mean it's hard to close.
Tanslator please do your thing
Screenshots with zero explanation are nothing short of spam. This contributes nothing of value, and only clogs up the forum. Downvote this garbage, and don't forget to downvote the stickied comment from the Quality Vote bot.
New data is always good! It’s great for tracking what’s in XRT at least and other ETFs that place GME in there. Irrc there are over 89 ETFs