North America

Introduction to North America

North American funds focus on companies that are domiciled in the United States and Canada. These could be companies that generate the majority of their revenues domestically or those that have extensive revenues from outside North America. The US market is the largest and broadest in the world and therefore fund managers have a large selection of stocks and sectors from which to choose.

The benchmark indices are the S&P 500, the Dow Jones industrial average and the technology-focused Nasdaq. Among the major constituents of the S&P 500 are the technology giants of Apple and Microsoft, oil majors Exxon Mobil and Chevron, plus consumer goods groups Johnson & Johnson and Proctor & Gamble, but many fund managers prefer to focus on smaller or mid cap stocks.

The North American market is usually seen as more 'defensive' than other markets - it tends to hold its value even when times are tough. However, because it is large and liquid and there are a lot of market participants, it is also seen as extremely efficient. There don't tend to be as many mispricing opportunities for active managers to exploit. North America managers follow a variety of styles, some prioritising high growth companies, others preferring more 'value' names trading at cheaper prices.

The tax treatment of investments is subject to tax law and HMRC practice which are subject to change. The value of investments may be affected by exchange rate movements where the underlying investments are not denominated in Pounds Sterling.

OEICs and Unit Trusts

Name1 Year (%)3 Years (%)5 Years (%)Fund Size (M)Yield (%)
AXA Framlington American Growth Z Acc37.2270.38119.14538.97-Buy
AXA Rosenberg American Z Acc35.8769.91138.10203.461.19Buy
Aberdeen Global North American Equity R2 GBP32.7852.90104.78142.340.40Buy
Aberdeen North American Equity I Acc GBP32.9455.02111.38156.590.70Buy
Allianz US Equity C Acc33.4869.95124.4730.330.39Buy
Artemis US Equity I Acc GBP40.71--26.780.41Buy
Artemis US Extended Alpha I Hedged Acc GBP23.18--650.10-Buy
Artemis US Extended Alpha I Acc GBP44.61--650.10-Buy
Artemis US Select I Hedged Acc GBP22.06--604.270.23Buy
Artemis US Select I Acc GBP42.67--604.270.31Buy
Artemis US Smaller Companies I Acc GBP45.02--184.530.05Buy
Aviva Inv US Equity Income II 2 Acc GBP30.1864.83-350.492.21Buy
Aviva Inv US Equity Income 2 Acc30.4965.91119.13259.832.28Buy
Baillie Gifford American B Acc52.9995.71156.17600.77-Buy
BlackRock North American Equity Tracker D Acc36.9671.06137.854,679.981.48Buy
BlackRock US Dynamic D Acc43.5574.19142.32104.510.60Buy
BlackRock US Equity Tracker D Acc37.6974.80-1,122.231.43Buy
BlackRock US Opportunities D Acc32.6059.28135.5999.790.26Buy
CF Canlife North American C Acc GBP32.0371.99129.81210.260.72Buy
CF Miton US Opportunities B Acc34.0376.76-279.340.08Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
Blackrock North American Income Trust Plc ORD 1P28.3861.22--8.03171.79Buy
Canadian General Investments GBP41.2636.4573.55-25.641,728.02Buy
Gabelli Value Plus Trust PLC39.79---3.23136.92Buy
JP Morgan American IT plc36.1261.20141.23-4.20407.50Buy
JP Morgan US Smaller Companies IT PLC Ord 2.5P62.2091.67201.970.24286.80Buy
JZ Capital Partners Ord45.5644.1689.27-27.80779.13Buy
JZ Capital Partners ZDP 20227.79----Buy
Jupiter US Smaller Companies PLC Ord 25P25.9425.5683.52-8.35911.09Buy
Middlefield Canadian Income Trust I31.114.3935.07-10.58112.95Buy
North Atlantic Smaller Companies IT13.2344.60151.20-19.713,250.66Buy
The North American Income Trust plc Ord 25p39.7464.43111.84-9.061,327.32Buy

ETFs

Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
BMO MSCI USA Income Leaders GBP Hedged8.6317.35--GBPEquity - USABuy
Boost NASDAQ 100 3x Leverage Daily ETP57.67114.44182.18-USDEquity - USABuy
Boost NASDAQ 100 3x Short Daily ETP-40.02-60.44-83.50-USDEquity - USABuy
Boost S&P 500 3x Leverage Daily ETP24.3956.1272.41-USDEquity - USABuy
Boost S&P 500 3x Short Daily ETP-23.27-44.29-69.12-USDEquity - USABuy
CFS DBX Trck S&P 500 Equal Weight DR 1C Acc GBP3.7834.55--GBXEquity - USABuy
DB X-Trackers MSCI USA Index UCITS ETF 1C GBP5.7438.1075.10143.22GBPEquity - USABuy
DB X-Trackers MSCI USA Minimum Volatility UCITS ETF (DR) 1D USD10.05---USDEquity - USABuy
DB X-Trackers S&P 500 2x Inverse Daily UCITS ETF USD-15.89-31.65-52.13-81.94USDEquity - USABuy
DB X-Trackers S&P 500 2x Leveraged Daily UCITS ETF USD16.4537.1554.95245.22USDEquity - USABuy
DB X-Trackers S&P 500 Inverse Daily UCITS ETF GBP-10.63-3.45-4.54-45.51GBPEquity - USABuy
DB X-Trackers S&P 500 UCITS ETF 1C GBP5.6038.1576.44144.73GBPEquity - USABuy
DB X-Trackers S&P 500 UCITS ETF (DR) 2C Hedged GBP7.9717.42--GBPEquity - USABuy
ETFS Russell 2000 US Small Cap GO UCITS ETF GBP0.1542.6263.13133.10GBPEquity - Small Cap USABuy
First Trust US Equity Income UCITS ETF A Inc GBP-7.2525.25--GBPEquity - USABuy
First Trust US Large Cap Core AlphaDEX UCITS ETF A Acc GBP5.7138.7866.57-GBXEquity - USABuy
FundLogic MS Scientific Beta US Equity Factors UCITS8.3314.71--USDEquity - USABuy
HSBC MSCI USA GBP5.9237.0773.60138.64GBXEquity - USABuy
HSBC S&P 500 GBP5.8037.3075.55145.57GBXEquity - USABuy
Lyxor UCITS ETF RUSSELL 2000 C USD3.4923.6222.6792.52USDEquity - Small Cap USABuy

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