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NEW LISTINGS

Pimco Debuts Germany, Canada Bond ETFs
Nov. 10 saw the rollout of the Pimco Canada Bond Index Fund (NYSEArca: CAD) and the Pimco Germany Bond Index Fund (NYSEArca: BUND). Both funds target locally issued investment-grade debt in their respective markets. Each charges an expense ratio of 0.45 percent.

Deutsche Bank Launches Inverse Japanese Bond ETNs
On Nov. 9, two new ETNs from Deutsche Bank targeting the Japanese bond market began trading; the products will be marketed by Invesco PowerShares. The PowerShares DB Inverse Japanese Govt Bond Futures ETN (NYSEArca: JGBS) and the PowerShares DB 3x Inverse Japanese Govt Bond Futures ETN (NYSEArca: JGBD) offer different degrees of exposure to an index that tracks a notional short position in futures on Japanese 10-year government bonds. JGBS and JGBD charge expense ratios of 0.50 percent and 0.95 percent, respectively.

NEW FILINGS

Global X Plans 'Permanent' ETF
A recent filing from Global X indicates the firm is looking to launch an asset-allocation ETF. The Global X Permanent ETF will track an index covering multiple asset classes in an attempt to deliver more consistent returns. The fund will include equities, fixed-income securities and gold in its portfolio. No ticker or expense ratio was listed in the filing.

Guggenheim To Add To Target-Date Bond ETFs
Guggenheim Funds recently filed paperwork with the SEC outlining its plans to add the Guggenheim BulletShares 2021 Corporate Bond ETF to its lineup of “BulletShares” ETFs that target investment-grade corporate bonds maturing in specific years. The firm already has seven funds in the family listed; they cover the years 2011 through 2017.

Direxion Continues To Seek New Directions
Direxion has filed for three more funds that will track “intelligent beta” indexes. The firm is best known for its leveraged and inverse ETFs that provide triple exposure to various indexes, but its more recent filings have been targeting “smart beta” strategies. Each is expected to charge an expense ratio of 0.85 percent. The “Quantum-ISE” ETFs include:

• Quantum-ISE Enhanced Broad Market Shares
• Quantum-ISE Enhanced Large-Cap Shares
• Quantum-ISE Enhanced Small-Cap Shares

Emerging Global Looks To Launch Bond ETFs
A filing from Emerging Global Advisors indicates that the firm is looking to include fixed-income ETFs in its lineup. Very few details were included in the filing, which covers both equities and fixed income, but it looks like Emerging Global is looking to compete with other ETF providers in areas other than equities.

OTHER NEWS

Van Eck Begins HOLDRs Exchange
As of Nov. 11, Van Eck has begun exchanging shares of six of Merrill Lynch’s HOLDRs for shares in six of its own ETFs. The exchange offer expires on Dec. 20, with trading in the six targeted HOLDRs ceasing on the expiration day and trading in the six new Market Vectors set to begin the following trading day.
The HOLDRs that are up for exchange include:

• Oil Services HOLDRS (NYSEArca: OIH)
• Semiconductor HOLDRS (NYSEArca: SMH)
• Pharmaceutical HOLDRS (NYSEArca: PPH)
• Biotech HOLDRS (NYSEArca: BBH)
• Retail HOLDRS (NYSEArca: RTH)
• Regional Bank HOLDRS (NYSEArca: RKH)

Direxion Reverse-Splits 6 ETFs
Effective Nov. 10, Direxion reverse-split six of its triple-exposure ETFs. The affected funds include:

• Direxion Daily Financial Bull 3X Shares (NYSEArca: FAS)
• Direxion Daily Emerging Markets Bull 3X Shares (NYSEArca: EDC)
• Direxion Daily 20+Year Treasury (NYSEArca: TMV)
• Direxion Daily Real Estate Bear 3X Shares (NYSEArca: DRV)
• Direxion Daily Latin America Bull 3X Shares (NYSEArca: LBJ)

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