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- Page 1: New ETF listings
- Page 2: The complete list of ETFs (and ETNs) in registration
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NEW LISTINGS
Direxion Adds to Triple-Exposure Lineup
On Dec. 17, Direxion expanded its lineup of inverse and leveraged ETFs to cover international and U.S. technology markets.
The six new ETFs offer 300% exposure to the MSCI Emerging Markets Index, the MSCI EAFE Index and the Russell 1000 Technology Index. The funds include three pairs of 3X Bull and 3X Bear counterparts tracking each index.
They include the following:
- Direxion Developed Markets Bull 3X Shares (NYSE: DZK)
- Direxion Developed Markets Bear (NYSE: DPK)
- Direxion Emerging Markets Bull 3X Shares (NYSE: EDC)
- Direxion Emerging Markets Bear 3X Shares (NYSE: EDZ)
- Direxion Technology Bull 3x Shares (NYSE: TYH)
- Direxion Technology Bear 3X Shares (NYSE: TYP).
The six newest leveraged ETFs are expected to wind up with net expense ratios of 0.95% annually.
You can read the prospectus here.
XShares Takes New Direction With AirShares
The second exchange-traded product providing access to global carbon emissions markets launched on the NYSE Arca on Dec. 15, bringing an alternative to a much-discussed new asset class that's also spreading through Europe.
The AirShares EU Carbon Allowances Fund (NYSEArca: ASO) is actually a commodity pool that tracks a basket of exchange-traded futures contracts for European Union Allowances (EUAs). Each contract provides for delivery of 1,000 EUAs at a specified price.
The new ETF-like product, as AirShares refers to ASO, invests in futures contracts that expire each December beginning in 2009 and extending through 2012. As contracts approach their December expiration, the fund sells expiring contracts and replaces them with contracts of later expirations, according to XShares Advisors, which is sponsoring the new exchange-traded products. The fund opened with roughly 238 contracts in its portfolio.
ASI will compete with the iPath Global Carbon ETN (NYSEArca: GRN).
The ASO portfolio will be rebalanced annually. As contracts near expiration, the fund will sell its expiring contracts and replace them with contracts of later expiration dates. The remaining contracts will be reweighted based on volume. AirShares will buy and sell contracts using U.S. dollars, even though the futures ASO holds will be denominated in euros.
By some estimates, the global carbon market is worth more than $50 billion a year.
You can view the prospectus here.
NEW FILINGS
PAX World Funds Files For Socially Responsible ETFs
Pax World, a provider of socially responsible investment products, has thrown its hat into the ETF ring with a recent filing. The firm has filed for three ETFs, two of which track socially responsible indexes from KLD, a socially responsible research firm and index provider. The third tracks an index of environmental technology companies from FTSE.
There are currently only two socially responsible ETFs listed in the United States; both are offered by Barclays Global Investors’ iShares family and track indexes from KLD. There are also a few environmentally themed ETFs currently trading in the U.S.
The sShares KLD North America Sustainability Index ETF and the sShares KLD Europe Asia Pacific Sustainability Index ETF will track KLD indexes that include only components that have been screened according to environmental, social and governance (ESG) criteria. The indexes use the S&P/Citigroup BMI Europe Asia Pacific composite and the S&P/Citigroup BMI North America composite as their selection universes. The North American fund is expected to charge 0.60%, while the Europe/Asia Pacific fund is expected to charge 0.65%.
According to the prospectus, the sShares FTSE Environmental Technologies (ET50) Index ETF will track an index of 50 pure-play companies involved in the development and operation of environmental technologies in the areas of alternative energy, water treatment, pollution control and waste management. The fund is expected to charge 0.60%.
You can view the registration statement here.
Vanguard Fills Hole With International Small-Cap Filing
After years of investor complaints that its low-cost lineup of index-based funds has been missing a key component, the Vanguard Group has finally responded.
On Dec. 11, the Valley Forge, Pa.-based mutual funds and fund provider said it had filed to launch the Vanguard FTSE All-World ex-US Small-Cap Index Fund. It will come in three versions—institutional, investor and ETF share classes.
The Vanguard FTSE All-World ex-US Small-Cap Index Fund's investor shares will come with an expected annual expense ratio of 0.60%. Meanwhile, institutional shares will require a minimum of $5 million up front and charge 0.35% per year in expenses.
The FTSE All-World ex-U.S. Small-Cap ETF will come with an expense ratio of 0.38%. (The index mutual fund share classes will come with 0.75% fees on purchases and redemptions.)
You can view the registration statement here.
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