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• Page 2: The complete list of ETFs (and ETNs) in registration

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NEW FILINGS

iShares Files For Ex-US Global Sectors

In a move expected to round out its lineup, iShares has filed to launch 10 international sector exchange-traded funds. It already has a wide range of global sector funds, but none that excludes the U.S.

The proposed funds will include developed as well as emerging markets.

No expense ratios were mentioned in the filings. The proposed iShares international sector ETFs will face several competitors, including a full lineup tracking S&P indexes sponsored by State Street Global Advisors. Most have tiny asset bases and charge 0.50% in annual expense ratios.

The proposed ETFs would include the following (click on the link to view the prospectus):

• iShares MSCI ACWI ex US Consumer Discretionary Index Fund
• iShares MSCI ACWI ex US Consumer Staples Index Fund
• iShares MSCI ACWI ex US Energy Index Fund
• iShares MSCI ACWI ex US Financials Index Fund
• iShares MSCI ACWI ex US Health Care Index Fund
• iShares MSCI ACWI ex US Industrials Index Fund
• iShares MSCI ACWI ex US Information Technology Index Fund
• iShares MSCI ACWI ex US Materials Index Fund
• iShares MSCI ACWI ex US Telecom Services Index Fund
• iShares MSCI ACWI ex US Utilities Index Fund

Next Investments Looks To Issue ETFs

A new firm has filed with the SEC for the exemptions necessary for it to begin launching ETFs.

Next Investments, the New Jersey-based structured products developer, has filed an exemption request that proposes a new fund of funds. Its only holding would be the S&P 500 SPDRs (NYSE: SPY). Every month, the ETF's adviser would sell a certain percentage of the portfolio's shares.

What's interesting about this ETF is that by making predefined distributions on a regular basis, such payouts could be treated as return of capital for tax purposes. That would seemingly provide investors with a way to earn tax-deferred treatment of distributions from the fund.

In the filing, Next notes that at SPY's current yield of around 2%, the new ETF's targeted rate of return—with a majority of distribution payments coming on a tax-deferred basis—would provide roughly another 4% to the fund's income stream.

But that's just yield. The fund would remain invested at all times in SPY.

Although the firm declined to comment on the recent filing, Next Investments Chief Executive Dan McCabe has told IndexUniverse.com in the past that the firm is working on developing a suite of different ETFs. A patent is pending on the structured distribution process for ETFs created by Next.

NEW LISTINGS

There were no new listings during the covered period.

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