Follow ETF Watch on Twitter for all the newest ETF filings.
Editor's Note: As of the start of 2012, ETF Watch has transitioned to daily updates, rather than weekly.
Note: Want to receive an email notice as soon as ETF Watch is posted?
FRIDAY, JULY 20
First Trust Plans Active High-Yield ETF
First Trust recently filed paperwork with the SEC to put an actively managed high-yield ETF into registration. The First Trust High Yield Fund will target high-yield debt securities, including corporate debt and senior loans, and will be able to invest in non-US issues. The fund will be managed in-house and compete directly with AdvisorShares’ Peritus High Yield ETF (NYSEArca: HYLD). The filing did not include a ticker or expense ratio.
WEDNESDAY, JULY 18
New UBS MLP ETN Competes With AMJ
UBS rolled out a new Etracs ETN that is essentially identical to the JP Morgan Alerian MLP ETN (NYSEArca: AMJ)—but cheaper. The Etracs Alerian MLP Index ETN (NYSEArca: AMU) tracks the same index as AMJ and, with a 0.80 percent expense ratio, is 5 basis points cheaper than the ETN offered by J.P. Morgan. AMJ has apparently run into hedging difficulties due to its rapid growth, according to industry sources, leading J.P. Morgan to halt creations on the ETN. It’s been trading at a premium. The launch of AMU provides an alternative vehicle for investors and could put a damper on AMJ’s premium.
TUESDAY, JULY 17
Global X Debuts SuperIncome Preferred Stock Fund
Global X rolled out an ETF focused on preferred stocks on Tuesday. The Global X SuperIncome Preferred ETF (NYSEArca: SPFF) is tied to an index offered by S&P that covers 50 of the highest-yielding preferred securities listed in the U.S. SPFF comes with an expense ratio of 0.58 percent.
Van Eck Launches Preferred Stock Ex Financials ETF
The same day that Global X debuted its own preferred stock ETF, Van Eck launched its own ETF targeting the space—but with a twist. The Market Vectors Preferred Securities ex Financials ETF (NYSEArca: PFXF), as its name implies, excludes financial sector securities with the objective of minimizing volatility. Other preferred securities products tend to be heavily tilted toward the financials sector. PFXF charges 0.40 percent per year.
MONDAY, JULY 16
First Trust Plans Active, Income-Focused ETF
First Trust filed recently for an actively managed fund-of-funds ETF that will target total return and income. The First Trust Global Tactical Asset Allocation and Income Fund can invest in ETFs and ETNs in a range of asset classes and also will employ an options overlay strategy to further enhance the fund’s income potential. The filing did not include a ticker or expense ratio for the fund.
Gencap Buys FactorShares
New firm GencapVentures LLC has purchased ETF provider FactorShares, intending to use the acquisition target’s exemptive relief to help other firms bring exchange-traded products to market, similar to how Exchange Traded Concepts and AdvisorShares operate. FactorShares recently put three resources-focused equity funds into registration: The PureFunds ISE Mineral ETF, PureFunds ISE Resource Exploration and Extraction ETF and PureFunds ISE Mining ETF each will track indexes provided by the International Securities Exchange.