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NEW LISTINGS
PowerShares Launches Financial-Industry ETFs
Just after State Street changed the indexes on five of its ETFs, PowerShares launched four ETFs based on some of the discarded indexes. The four new ETFs all track indexes from KBW covering subsectors of the financials industry. Each charges an expense ratio of 0.35 percent, but PowerShares is waiving the fee until February 1, 2012. The new funds include:
- PowerShares KBW Bank Portfolio (NYSEArca: KBWB)
- PowerShares KBW Capital Markets Index (NYSEArca: KBWC)
- PowerShares KBW Insurance Portfolio (NYSEArca: KBWI)
- PowerShares KBW Regional Banking Portfolio (NYSEArca: KBWR)
Pimco Debuts Australia Bond ETF
Nov. 1 saw the launch of an ETF from Pimco that focuses exclusively on Australian debt. The Pimco Australia Bond Index Fund (NYSEArca: AUD) covers an index offered by Bank of America Merrill Lynch that tracks investment-grade debt issued in Australia. The fund charges an expense ratio of 0.45 percent and competes primarily with the WisdomTree Australia & New Zealand Debt Fund (NYSEArca: AUNZ), which charges the same amount.
Russell Rolls Out Int’l Factor-Based ETFs
Last Thursday, Russell Investments rolled out three ETFs covering developed international markets excluding the U.S. Each one focuses on a particular factor, targeting the stocks that fall under the categories of low beta, low volatility or high momentum. The three funds each come with an annual net expense ratio of 0.25 percent and include:
- Russell Developed ex-U.S. Low Beta ETF (NYSEArca: XLBT)
- Russell Developed ex-U.S. Low Volatility ETF (NYSEArca: XLVO)
- Russell Development ex-U.S. High Momentum ETF (NYSEArca: XHMO)
NEW FILINGS
Vanguard Files For International Bond ETFs
Vanguard is looking to fill what some have considered a gaping hole in its lineup of funds with two international bond mutual funds, with ETF share classes available for each. A filing last week details the firm’s plans to launch the Vanguard Total International Bond Index Fund and the Vanguard Emerging Markets Government Bond Index Fund; their ETF share classes will charge expense ratios of 0.30 and 0.35 percent, respectively. Both funds will track indexes from Barclays Capital, with the broad international fund’s benchmark covering more than 7,000 securities from 57 countries. The emerging market fund will cover 200 U.S.-dollar-denominated sovereign issues from 39 countries. The filing did not list tickers for either ETF.
Northern Lights Files For ETF
Northern Lights filed for its first ETF recently. The fund will be marketed under the Arrow Investments name and will focus on high-yield securities. The ArrowShares Global ETF will track an index that draws its components from a wide range of fixed-income and equity securities, ranging from common stocks and depositary receipts to sovereign bonds and MLPs. The filing did not include an expense ratio or ticker.
iShares Plans International Sector ETFs
In two separate filings, iShares outlined its plans to launch two international sector ETFs.
The first covers the iShares MSCI Emerging Markets Energy Sector Capped Index Fund, which will track an MSCI index of energy-related companies from 15 emerging markets.
The second filing details the firm’s intention to launch the iShares MSCI All Country Asia Information Technology Index Fund. The fund will cover tech stocks in Hong Kong, India, Japan, South Korea and Taiwan.
Neither filing provided ticker or expense ratio information.
Van Eck Files For Another Nigeria ETF
Van Eck, which already had a similarly focused fund in registration, filed recently for the Market Vectors Nigeria-Focused Western Africa ETF. Unlike its previous filing, the newly proposed fund will limit its exposure to Nigeria to approximately 50 percent of the portfolio. It’s unclear if Van Eck will actually launch both funds, but the filing could be a response to the “recurring unrest” in the nation, as described in the CIA Factbook. No ticker or expense ratio was listed for the fund.
Direxion Plans More Triple-Exposure ETFs
Direxion Shares has added eight more funds into the pipeline, all of them providing 300 or -300 percent exposure to their underlying indexes. The funds listed in the filing will each charge 0.95 percent in expenses, and the list includes:
- Direxion Daily Turkey Bull 3X Shares
- Direxion Daily Turkey Bear 3X Shares
- Direxion Daily Industrial Bull 3X Shares
- Direxion Daily Industrial Bear 3X Shares
- Direxion Daily Junior Gold Miners Index Bull 3X Shares
- Direxion Daily Junior Gold Miners Index Bear 3X Shares
- Direxion Daily Silver Miners Bull 3X Shares
- Direxion Daily Silver Miners Bear 3X Shares
OTHER NEWS
SSgA Switches Indexes On 8 SPDRS
As of Oct. 21, State Street Global Advisors switched the indexes on five of its financial sector ETFs. The funds had previously tracked indexes offered by KBW, but now are tied to S&P benchmarks. The renamed funds are:
- SPDR S&P Bank ETF (NYSEArca: KBE)
- SPDR S&P Capital Markets ETF (NYSEArca: KCE)
- SPDR S&P Insurance ETF (NYSEArca: KIE)
- SPDR S&P Mortgage Finance ETF (NYSEArca: KME)
- SPDR S&P Regional Banking ETF (NYSEArca: KRE)
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