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Editor's Note: As of the start of 2012, ETF Watch has transitioned to daily updates, rather than weekly.
THURSDAY, APR. 26
SSgA Launches Active ETFs State Street Global Advisors rolled out its first three actively managed ETFs on Thursday. The three funds include:
- The SPDR SSgA Multi-Asset Real Return ETF (NYSEArca: RLY). RLY carries an annual expense ratio of 0.70 percent and invests in exchange-traded products representing a variety of asset classes, with the aim of protecting against inflation.
- The SPDR SSgA Income Allocation ETF (NYSEArca: INKM). INKM charges 0.70 percent. It focuses on assets that generate yield and income across a range of asset classes, including U.S. and international equities, REITs and debt securities.
- The SPDR SSgA Global Allocation ETF (NYSEArca: GAL). GAL costs 0.35 percent and focuses on capital preservation and current income, with a portfolio that targets "balanced exposure" to domestic and international debt and equity.
SSgA has three more active ETFs in registration.
iShares Debuts Ratings-Specific Bond ETFs iShares launched two ETFs that target bonds falling within designated ratings ranges. The iShares Baa-Ba Corporate Bond Fund (BATS: QLTB) and the iShares B-Ca Corporate Bond Fund (BATS: QLTC) cover corporate bonds with ratings falling within the ranges specified in their names. Both track Barclays Capital indexes. QLTB comes with an expense ratio of 0.30 percent, while QLTC costs 0.55 percent.
UBS Rolls Out New DJ-UBS ETN UBS rolled out another commodities-focused ETN, this one tracking a variation of the popular Dow Jones-UBS Commodity Index that covers contracts from across the futures curve. The ETRACS DJ-UBS Commodity Index 2-4-6 Blended Futures ETN (NYSEArca: BLND) tracks a benchmark that is actually an equal-weighted blend of three different indexes: the Dow Jones-UBS Commodity Index 2 Month Forward, the Dow Jones-UBS Commodity Index 4 Month Forward and the Dow Jones-UBS Commodity Index 6 Month Forward. BLND comes with an expense ratio of 0.70 percent.
Vanguard Cuts Fees On 13 More ETFs Vanguard, continuing on a path it began a few months ago, has lowered fees on 13 more of its ETFs. The price cuts became effective on April 25 and 26.
ProShares Sets Splits On 17 ETFs ProShares announced it will effect splits or reverse splits on 17 of its leveraged and inverse ETFs as of May 11.
WEDNESDAY, APR. 25
Guggenheim Adds To BulletShares Lineup Guggenheim Funds added to its lineup of target-maturity bond ETFs on Wednesday with the rollout of three new high-yield BulletShares. Guggenheim already had a family of nine investment-grade corporate-bond BulletShares and four high-yield corporate-bond BulletShares. The new funds each charge expense ratios of 0.42 percent and include:
- The Guggenheim BulletShares 2016 High Yield Corporate Bond ETF (NYSEArca: BSJG)
- The Guggenheim BulletShares 2017 High Yield Corporate Bond ETF (NYSEArca: BSJH)
- The Guggenheim BulletShares 2018 High Yield Corporate Bond ETF (NYSEArca: BSJI)
Van Eck Debuts 'Wide Moat' ETF Van Eck launched an ETF targeting companies that are undervalued and show a marked competitive advantage over their peers. The Market Vectors Morningstar Wide Moat Research ETF (NYSEArca: MOAT) tracks an equal-weighted index from Morningstar that covers the top 20 companies in the U.S. market in terms of price-to-fair-value ratio. MOAT carries an expense ratio of 0.49 percent. A similar ETN listed on the Elements platform, the Elements Wide Moat Focus ETN (NYSEArca: WMW), costs 0.75 percent.
Axel Merk Files For Gold ETF Axel Merk filed recently to create a physical gold ETF. The Merk Gold Trust (NYSEArca: OUNZ) will hold gold bars and coins. OUNZ, unlike other existing physical gold trusts such as GLD, will allow investors to redeem shares for actual gold. According to the filing, the custodian for the fund will be J.P. Morgan, with Bank of New York Mellon serving as trustee. The filing did not include an expense ratio.
First Trust To Add To AlphaDex Lineup With Ag Fund First Trust has filed regulatory paperwork on a fund that will focus on agriculture equities and use the firm's quantitatively based AlphaDex index methodology. The First Trust Global Agriculture AlphaDex ETF will track an index with a target component list of 47 securities selected based on a variety of growth and value factors. The filing did not include a ticker or expense ratio.
KraneShares Plans For China Dividend ETF KraneShares Trust recently filed for an ETF that will target dividend-paying equities of companies domiciled in China. The holdings of the KraneShares Dow Jones China Select Dividend ETF will have primary listings in the U.S. or Hong Kong. The underlying benchmark draws its components from the Dow Jones China Offshore Total Stock Market Index and the Dow Jones Hong Kong Total Stock Market Index. The filing did not provide a ticker or expense ratio.
TUESDAY, APR. 24
ETC Files For Covered-Call ETFs Exchange Traded Concepts recently filed for three ETFs that it will bring to market on behalf of Horizons, a firm owned by Mirae Asset Management. The funds will track indexes that replicate covered-call strategies. The proposed ETFs, versions of which already trade in Canada, include:
- The Horizons S&P 500 Covered Call ETF
- The Horizons S&P Energy Select Sector Covered Call ETF
- The Horizons S&P Financial Select Sector Covered Call ETF
The filing said that the funds would list on NYSE Arca, but did not include tickers or expense ratios.
MONDAY, APR. 23
Yorkville Plans For 2 'High Income' MLP ETFs Yorkville ETF Advisors filed for two more "High Income" MLP ETFs that will join its only existing ETF, the Yorkville High Income MLP ETF (NYSEArca: YMLP). The Yorkville High Income Composite MLP ETF (NYSEArca: YMLC) and the Yorkville High Income Infrastructure MLP ETF (NYSEArca: YMLI) will be brought to market by Exchange Traded Concepts. While YMLC will focus on the entire MLP industry, YMLI will target MLPs focused on the transportation and storage of natural gas and oil. Both will track Solactive indexes. The filing did not include expense ratios for the ETFs.
Global X Files For 'Risk Parity' ETF Global X Funds recently filed for a multi-asset-class ETF that bases its allocations to equities, commodities, derivatives and fixed income on risk measures. The Global X Risk Parity ETF's objective is to seek capital appreciation while limiting risk. It will track the FXcube Risk Parity Index. The filing did not include a ticker or fees.
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