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Editor's Note: As of the start of 2012, ETF Watch has transitioned to daily updates, rather than weekly.
FRIDAY, APR. 13
US Commodity Funds Launches Ag ETF
United States Commodity Funds rolled out the U.S. Agricultural Index Fund (NYSEArca: USAG) on Friday. The fund tracks a benchmark from SummerHaven Index Management covering 14 different commodities futures in the agricultural space. The underlying index's methodology is designed to target the contracts along the futures curve displaying the greatest degree of backwardation (or least degree of contango, if none of the contracts is in backwardation). The index overweights the seven selected contracts that are the most backwardated, while underweighting the seven contracts that are displaying the greatest degree of contango. USAG comes with an expense ratio of 1.20 percent.
ALPS Plans Sector Dividend ETF
ALPS Advisors recently filed registration paperwork with the Securities and Exchange Commission on the ALPS Sector Dividend Dogs ETF. The fund's underlying index will annually select the five highest-yielding stocks from each of the Global Industry Classification Standard's 10 sectors. The filing did not include a ticker or expense ratio for the proposed ETF.
THURSDAY, APR. 12
Van Eck Rolls Out Fallen-Angel Bond ETF
On April 11, Van Eck Global launched a high-yield bond ETF focused on corporate bonds that weren't junk debt at the outset, but that were downgraded somewhere along the line. The Market Vectors Fallen Angel High Yield Bond ETF (NYSEArca: ANGL) will track a BofA Merrill Lynch index comprising dollar-denominated junk corporate bonds that were rated investment grade at time of issuance. ANGL targets a largely unexplored segment of the market, but one that makes up as much as 15 percent of the high-yield bond universe, according to Van Eck. The fund has a net expense ratio of 0.40 percent, which is capped through Sept. 1, 2013.
MONDAY, APR. 9
iShares Debuts More Income-Focused Funds
On April 5, iShares rolled out two more income-focused ETFs on the BATS Exchange. The iShares Global High Yield Corporate Bond Fund (BATS: GHYG) charges an annual expense ratio of 0.40 percent and covers junk bonds from developed as well as emerging markets. Meanwhile, the iShares Morningstar Multi-Asset Income Index Fund (BATS: IYLD) invests in a wide range of securities, including fixed income, stocks, REITs and preferred securities, in its quest for income; IYLD comes with an expense ratio of 0.60 percent.
First Trust Files For 'Hedge Fund Managers' ETF
A recent filing from First Trust indicates the firm is looking to launch an ETF that tracks stocks and other equities widely held by hedge fund managers. The First Trust Hedge Fund Manager Holdings Index Fund will track an index covering the 100-largest securities holdings of hedge fund managers, as indicated by their Form 13F filings with the SEC. Its components can include anything from common stock to warrants, options, closed-end funds and ETFs. The filing did not provide a ticker or expense ratio.
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