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 Acc30.4255.5896.66540.13-Buy
AXA Rosenberg American Z Acc31.9468.58121.77204.801.18Buy
Aberdeen Global North American Equity R2 GBP29.7552.4285.80140.740.40Buy
Aberdeen North American Equity I Acc GBP30.1754.4891.42174.430.70Buy
Allianz US Equity C Acc30.5667.5199.9530.290.53Buy
Artemis US Equity I Acc GBP31.34--25.790.43Buy
Artemis US Extended Alpha I Hedged Acc GBP---623.38-Buy
Artemis US Extended Alpha I Acc GBP36.65--623.38-Buy
Artemis US Select I Hedged Acc GBP---559.320.20Buy
Artemis US Select I Acc GBP29.17--559.320.33Buy
Artemis US Smaller Companies I Acc GBP39.89--163.610.05Buy
Aviva Inv US Equity Income II 2 Acc GBP29.5269.08-336.242.10Buy
Aviva Inv US Equity Income 2 Acc30.3570.72119.64273.842.19Buy
Baillie Gifford American B Acc32.8968.79116.17510.80-Buy
BlackRock North American Equity Tracker D Acc33.6970.29123.494,670.671.51Buy
BlackRock US Dynamic D Acc36.8969.26120.4283.450.61Buy
BlackRock US Equity Tracker D Acc33.9473.33-1,101.611.46Buy
BlackRock US Opportunities D Acc33.1756.02116.0986.670.26Buy
CF Canlife North American C Acc GBP32.8273.83119.61222.800.71Buy
CF Miton US Opportunities B Acc33.6070.21-283.650.20Buy

Investment Trusts

Name1 Year (%)3 Years (%)5 Years (%)DiscountNAV
Blackrock North American Income Trust Plc ORD 1P37.3570.11--4.34170.91Buy
Canadian General Investments GBP41.7344.3647.06-25.581,679.75Buy
Gabelli Value Plus Trust PLC51.17---0.54137.62Buy
JP Morgan American IT plc31.5665.86110.85-5.13394.87Buy
JP Morgan US Smaller Companies IT PLC Ord 2.5P52.3065.33155.39-4.27276.83Buy
JZ Capital Partners Ord45.6142.6188.08-31.55802.00Buy
JZ Capital Partners ZDP 20229.63----Buy
Jupiter US Smaller Companies PLC Ord 25P32.0428.5068.25-11.48921.78Buy
Middlefield Canadian Income Trust I38.4823.5726.36-12.98116.07Buy
North Atlantic Smaller Companies IT5.4748.60139.33-18.743,062.92Buy
The North American Income Trust plc Ord 25p45.0878.31113.93-5.571,340.64Buy


Name6 Months (%)1 Year (%)3 Years (%)5 Years (%)CurrencySector
DB X-Trackers MSCI USA Index UCITS ETF 1C GBP17.8937.3278.39138.07GBXEquity - USABuy
DB X-Trackers S&P 500 Inverse Daily UCITS ETF GBP-2.66-2.34-6.01-38.84GBXEquity - USABuy
DB X-Trackers S&P 500 UCITS ETF 1C GBP18.1837.1079.99140.45GBXEquity - USABuy
ETFS Russell 2000 US Small Cap GO UCITS ETF GBP12.4241.2653.76118.37GBPEquity - USABuy
First Trust US Large Cap Core AlphaDEX UCITS ETF A Acc GBP14.8631.6363.92-GBXEquity - USABuy
HSBC MSCI USA GBP13.9632.3871.12125.07GBXEquity - USABuy
LYXOR UCITS ETF CANADA (S&P TSX 60) D GBP8.4729.4927.1727.94GBXEquity - North AmericaBuy
Lyxor UCITS ETF Dow Jones Industrial Average D USD13.1319.3332.37-USDEquity - USABuy
PS Dynamic US Market UCITS ETF GBP14.2131.2853.99133.36GBXEquity - USABuy
PS EQQQ Nasdaq 100 UCITS ETF GBP15.6638.6196.56158.90GBXEquity - USABuy
PS FTSE RAFI US 1000 UCITS ETF GBP14.9733.1066.39132.19GBXEquity - USABuy
SPDR S&P 500 UCITS ETF GBP14.0832.2173.18131.02GBPEquity - USABuy
SPDR Russell 2000 US Small Cap UCITS ETF GBP12.4740.00--GBPEquity - Small Cap USABuy
SPDR Russell 3000 US Total Market UCITS ETF GBP13.6832.77--GBPEquity - USABuy
SPDR S&P 500 Low Volatility UCITS ETF GBP10.0126.8279.99-GBPEquity - USABuy
SPDR S&P US Dividend Aristocrats UCITS ETF GBP10.8629.6177.88133.16GBPEquity - USABuy
Source MSCI USA USD8.3216.3730.5680.07USDEquity - USABuy
Source Russell 2000 USD7.0923.9616.0771.88USDEquity - USABuy
UBS (Irl) ETF plc - MSCI USA UCITS ETF (USD) A Dis GBP14.0532.6569.79-GBXEquity - USABuy


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