Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • Data Privacy
  • Français
  • my CNW 
    • Login
    • Register
  • Client Login 
    • Online Member Centre
    • Next Gen Communications Cloud
    • Cision Communications Cloud®
  • Sign Up
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
Advanced Search
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Canadian Federal Government
      • Canadian Municipal Government
      • Canadian Provincial Government
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

  • Advanced Search
  • Overview
  • Cision Communications Cloud®
  • Monitoring
  • Distribution
  • Multimedia
  • Guaranteed Paid Placement
  • AI Tools
  • IR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Hamburger menu
  • Cision Canada
  • Send a Release
  • FR
    • Phone

    • 877-269-7890 from 8 AM - 10 PM ET

    • ALL CONTACT INFO
    • Contact Cision

      877-269-7890
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Overview
  • Cision Communications Cloud®
  • Monitoring
  • Distribution
  • Multimedia
  • Guaranteed Paid Placement
  • AI Tools
  • IR
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR

Canadian advisors and investors are bullish on U.S. equities heading into Q4


News provided by

Horizons ETFs Management (Canada) Inc.

Oct 19, 2015, 06:30 ET

Share this article

Share toX

Share this article

Share toX

Horizons ETFs' surveys show advisors and investors are increasingly bullish on North American equities

TORONTO, Oct. 19, 2015 /CNW/ - Heading into the fourth quarter of 2015 ("Q4"), both Canadian advisors and investors are increasingly bullish on Canadian and U.S. equities, according to the Q4 2015 Advisor and Investor Sentiment Surveys ("Q4 Surveys") conducted by Horizons ETFs Management (Canada) Inc. ("Horizons ETFs").

The Q4 Surveys asked both advisors and investors for their expectations of returns — bullish, bearish or neutral — on 13 distinct asset classes for the upcoming calendar quarter (Q4 2015).  

For both advisors and investors, the largest pickups in bullish sentiment were observed when asked about key indices such as S&P 500®, NASDAQ-100® and S&P/TSX 60TM.

Of the advisors surveyed, 78% said they are bullish on the S&P 500® heading into Q4, compared to 57% in the third quarter ("Q3"), an increase of 21 percentage points. The number of bullish investors increased to 51%, up from 37% last quarter.  

Similarly, advisors' bullish sentiment for the NASDAQ-100® going into Q4 jumped to 71% from 57% last quarter. Investors' bullish sentiment for the NASDAQ-100® also rose, to 57% from 42%. This bullish sentiment is irrespective of the performance of both indices last quarter, where the S&P 500® had a dip in performance of 6.94% and the NASDAQ-100® dropped 4.91% (as at September 30, 2015). 

"It's clear that investors and advisors view the recent volatility in U.S. equity markets as a short-term blip in a longer-term upward trajectory," said Howard Atkinson, President of Horizons ETFs "It's not surprising that advisors are more bullish than investors, being closer to the markets, and knowing that markets typically sell-off in the summer months and rebound towards the end of the year."

Looking ahead to Q4, 62% of advisors said they were bullish on the S&P/TSX 60TM Index, compared to 39% for Q3, an increase of 23 percentage points. Investors were not as optimistic about the index heading into Q4, despite their bullish sentiment rising 15 percentage points to 44%, compared to the 29% who said they were bullish last quarter. Advisor and investor bullish sentiment for the index was one of the largest sentiment disparities in the surveys, differing by 18%. At the end of Q3, the index was down 7.46% (as at September 30, 2015).

"This is a high amount of bullishness on behalf of advisors considering a lot of dangerous headwinds for the Canadian market, including depressed oil prices and slower economic growth," said Mr. Atkinson. "It may be that advisors, and to a lesser extent investors, are expecting Canadian financials, the largest sector weight in the Canadian stock market, to make up for weakness in the energy sector.

The number of advisors bullish on the S&P/TSX Capped Financial IndexTM jumped significantly to 62% up from 40%. Similarly, the number of investors bullish on the index rose to 46%, up from 36% last quarter. Expectations are out of line with performance for Q3, with the index falling by 4.16% (as at September 30, 2015).

For the S&P/TSX Capped Energy IndexTM, sentiment for advisors dropped in bullishness to 37%, from 41% last quarter, with the number of advisors that expressed neutral sentiment rising to 30% from 23% last quarter. The number of investors that were bullish on the energy index also declined to 29% from 33% heading into Q4. Over Q3, the index fell 19.07% (as at September 30, 2015).

The number of advisors bullish on crude oil prices for Q4 slightly declined to 39% from 41%, with the number of bearish advisors at 30%. Meanwhile, the number of investors bullish on the asset class fell to 31% from 42%. Bearish investors on the asset class increased to 40% from 32%. For the Q3 period, the near-month spot price of crude oil fell approximately 24% to approximately $US45/barrel (as at September 30, 2015). 

Bullishness for natural gas increased for both advisors and investors heading into the upcoming quarter. Advisors' bullish sentiment rose to 34% from 28%, while investors' bullish sentiment increased 13 percentage points to 43% from 30%. The price of a natural gas' one-month forward contract fell approximately 11% in Q3 (as at September 30, 2015).

"Excess crude oil supply continues to depress global crude oil prices. The sentiment indicators from both advisors and investors suggest they don't expect this to change anytime soon." said Mr. Atkinson. "The fourth quarter is historically stronger for natural gas returns from a seasonal perspective as the temperature declines, necessitating higher usage, and we see this sentiment reflected in the increased bullishness."

Expectations for crude and natural gas played into sentiment for the Canadian dollar versus the Greenback. Both advisors and investors displayed more bullishness and less bearishness for domestic currency, compared to last quarter. The number of bullish advisors increased seven percentage points to 21% from the 14% last quarter, while bearish advisors declined to 44% from 53% last quarter. Investors' bullishness rose slightly to 24% from 22% quarter-over-quarter and bearish investors remained flat at 44%. The Canadian dollar fell 6.14% against the U.S. dollar over Q3 (as at September 30, 2015).

"The two biggest drivers of return for the Loonie are interest rates and oil prices, both of which appear to  have stabilized over the last quarter, which may explain why sentiment is mixed and not overly bearish or bullish," said Mr. Atkinson. "There is an ongoing fear that the Canadian dollar could fall even lower, if either of those two factors were to tilt negative any further."

Of the other commodities, advisors and investors trended similarly bearish in their sentiment towards gold stocks and gold bullion heading into Q4. The percentage of advisors that were bullish on the S&P/TSX Global GoldTM Index declined to 24% from 29% last quarter; the number of investors that were bullish fell to 32% from 42%.

For gold bullion, bullish advisors dropped to 25% from 33% last quarter. Bullish sentiment amongst investors also declined by 12 percentage points to 36% from the 48% last quarter. Gold bullion prices fell 4.89% during Q3.

Bullish sentiment for silver bullion heading into Q4 trended slightly downwards for both advisors and investors. About a fifth of advisors (22%) remained bullish on the metal, compared to a third (31%) last quarter. Similarly, 35% of investors were bullish on silver bullion, an eight percentage point drop from last quarter. Prices for the metal declined approximately 7.73% during the quarter.

"We saw a slight drop in the bullishness for gold this quarter, which was likely due to the renewed optimism that advisors and investors have for North American equities this coming quarter," says Mr. Atkinson. "A strong U.S. dollar will also keep the gold bugs at bay."

Sentiment for the S&P 500 VIX Short-Term Futures Index™ remained fairly bearish for both groups, even though it was the only asset class that performed positively over Q3. Only 34% of advisors said they were bullish on the asset class heading into Q4, compared to 54% last quarter. Investors' sentiment also fell to 38% from 44%. The S&P 500 VIX Short-Term Futures Index™ jumped almost 30% in Q3.

"Given that volatility historically tends to be inversely correlated to equity prices, it makes sense that investors wouldn't be bullish on volatility if they are optimistic on stocks, despite volatility's performance spike in the third quarter," says Mr. Atkinson.

About the Q4 2015 Advisor and Investor Sentiment Surveys

Horizons ETFs conducts the only quarterly sentiment survey of Canadian investment advisors. This was the third quarter that an additional investor sentiment survey was conducted. Both results have been collectively branded under the title 'Q4 2015 Advisor and Investor Sentiment Surveys.' The surveys quantitatively measure advisors' and investors' quarterly outlooks as it relates to key benchmarks covering equities, bonds, currencies and commodities. For full survey results, visit http://www.HorizonsETFs.com/sentimentsurvey.

About Horizons ETFs Management (Canada) Inc. (www.HorizonsETFs.com)

Horizons ETFs Management (Canada) Inc. and its affiliate AlphaPro Management Inc. are innovative financial services companies offering the Horizons ETFs family of exchange traded funds. The Horizons ETFs family includes a broadly diversified range of investment tools with solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has more than $5.1 billion of assets under management and with 70 ETFs listed on the Toronto Stock Exchange (as at September 30, 2015), the Horizons ETFs family makes up one of the largest families of ETFs in Canada. Horizons ETFs Management (Canada) Inc. and AlphaPro Management Inc. are members of the Mirae Asset Global Investments Group.

Horizons ETFs Management (Canada) Inc.

Commissions, trailing commissions, management fees and expenses all may be associated with an investment in exchange traded products managed by Horizons ETFs Management (Canada) Inc. (the "Horizons Exchange Traded Products"). The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. Certain Horizons Exchange Traded Products use leveraged investment techniques that can magnify gains and losses and may result in greater volatility of returns. These Horizons Exchange Traded Products are subject to leverage risk and may be subject to aggressive investment risk and price volatility risk. The prospectus contains important information about the Horizons Exchange Traded Products. Please read the prospectus before investing.

SOURCE Horizons ETFs Management (Canada) Inc.

Howard Atkinson, President, Horizons ETFs Management (Canada) Inc., (416) 777-5167, [email protected]

Modal title

Organization Profile

Horizons ETFs Management (Canada) Inc.

Contact Cision

  • 866-245-2317
    from 8 AM - 10 PM ET
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media

Products

  • Cision Communications Cloud®
  • Media Monitoring
  • Content Distribution
  • Multimedia Distribution
  • Measurement & Analytics
  • Investor Relations

About

  • About Cision Canada
  • About Cision
  • Media Partners
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud®
  • my CNW

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud
  • my CNW
877-269-7890
from 8 AM - 10 PM ET
  • Terms of Use
  • Information Security Policy
  • Site Map
  • Cookie Settings
  • Accessibility Statement
Copyright © 2025 CNW Group Ltd. All Rights Reserved. A Cision company.