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Here are some of last week’s highlights:
- Market Vectors Junior Gold Miners ETF debuts
- iShares files for emerging markets sector funds
- Claymore plans fixed-income ETFs targeting specific maturity dates
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NEW LISTINGS
Junior Gold Miners ETF Begins Trading
The Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ) launched on Nov. 11. The first-of-its-kind ETF tracks an in-house index of small- to mid-cap gold-mining and -producing companies with market capitalizations of at least $150 million. Van Eck says the smaller segment of the gold industry is not only riskier and more volatile than its bigger side, but also can produce significant returns and offer a valuable hedge against inflation and currency weakness.
GDXJ charges an expense ratio of 60 basis points.
Read the original story here.
Read the fund’s prospectus here.
NEW FILINGS
iShares Files For Two Emerging Markets Sector ETFs
iShares Trust is expanding its roster of ETFs linked to emerging markets with the registration of two ETFs focused on the developing world’s financial and materials sectors.
The iShares MSCI Emerging Markets Financial Sector Index Fund will track the MSCI Emerging Markets Financial Sector Index, which, as of Sept. 30, comprised 166 securities in 22 emerging economies. The iShares MSCI Emerging Markets Materials Sector Index Fund will track the MSCI Emerging Markets Materials Sector Index, which as of Sept. 30, included 108 securities in an 18-country span. The funds will compete head-to-head with the emerging markets sectors family that is currently being rolled out by ETF industry newcomer Emerging Global Advisors.
Read the original IU.com article on the emerging markets sector ETFs here.
Read the filing for the emerging markets financials sector ETF here.
Read the filing for the emerging markets materials sector ETF here.
Claymore Plans Bond ETFs With Specific Maturity Dates
Claymore ETF Trust has registered with the Securities and Exchange Commission to launch 10 corporate bond exchange-traded funds that target a range of specific maturities. The family of ETFs will include funds investing in corporate bonds maturing in each of the years from 2011 through 2020. Each fund will track a rules-based index comprising corporate bonds with effective maturities in a given year—the 2011 Index, the 2012 Index, the 2013 Index and so forth. When all of the bonds in a portfolio have matured, the fund will liquidate, with the proceeds distributed to shareholders.
One criticism of other bond ETFs is that they never mature, making it difficult for people to match up liabilities to bond duration; these funds are designed in part to solve that problem.
Barclays Global Investors recently filed for a similar lineup of fixed-income ETFs targeting specific maturities, but it targeted municipal bonds.
Read the original IU.com article here.
Read the SEC filing here.
EGA Filing Mainly Targets BRIC Countries
A recent filing from Emerging Global Advisors indicates that it is looking to launch a group of funds that mainly target the subsets of the individual markets of the BRIC region. The seven proposed ETFs include:
- Emerging Global Shares INDXX India Infrastructure Index Fund
- Emerging Global Shares INDXX China Infrastructure Index Fund
- Emerging Global Shares INDXX Brazil Infrastructure Index Fund
- Emerging Global Shares INDXX India Mid Cap Index Fund
- Emerging Global Shares INDXX China Mid Cap Index Fund
- Emerging Global Shares INDXX Brazil Mid Cap Index Fund
- Emerging Global Shares INDXX Growing Asia Large Cap Index Fund
All together, each of these funds will invest in securities as well as in ADRs and GDRs of various companies to replicate their respective indexes, which will be provided by INDXX.
Net operating expenses are pegged at 0.85 percent for each of these funds. ALPS Advisors is the adviser for each fund, with Emerging Global Advisors LLC the subadviser.
Read the original IU.com article here.
Read the filing here.
PowerShares Files For ETF-Of-CEFs
PowerShares recently filed for an ETF that will track an index of closed-end funds calculated by S-Network Global Indexes LLC. Among other requirements, components of the index must have market capitalizations of at least $100 million and fall into one of three categories: taxable fixed income, high-yield fixed income or option income. They must also have total annual expense ratios of less than 2 percent.
WisdomTree recently filed for a fixed-income ETF-of-CEFs (read the IU.com article here), and the Claymore CEF Index-Linked GS Connect Exchange-Traded Note (NYSE Arca: GCE), launched in December 2007, tracks a portfolio of CEFs. GCE, however, has just $3 million in assets.
Read the filing here.
IndexIQ Files 40-APP For More Funds
IndexIQ, an upstart ETF provider best known for its hedge fund replication products, has filed a 40-APP application with the SEC that would clear the way for it to launch a number of novel ETFs, including a 130/30 product.
40-APP filings are an initial step in the ETF registration process that takes place prior to the writing of a prospectus, and do not mean that funds are due to launch soon.
Read the original IU.com story here.
The IndexIQ 40-APP filing, which also covers two additional classes of ETFs, is available here.
SSgA Filing Covers Hedge Fund Replication, Commodities ETFs
A recent 40-APP filing from State Street Global Advisors indicates that the firm is considering launching two new funds that represent steps in different directions.
The SPDR AlphaSimplex Absolute Beta ETF would track a rules-based index that invests in exchange-traded funds tied to equities, government bonds, short-term interest rates, currencies and commodities. The fund would aim to “approximate the common exposures of a broad universe of hedge funds in a relatively liquid, transparent and cost efficient manner.” It would be the first ETF of this kind to be included in the SPDRs lineup.
The other fund mentioned in the 40-APP is a commodity futures fund tied to the DJ-UBS Commodity Index. It could end up being the first SSgA ETF tied to the commodity futures markets—not to mention the first ETF tied to this index to trade in the U.S.
Read the original IU.com article here.
Read the 40-APP filing here.
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