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Here are some of last week’s highlights:
- Old Mutual rolls out its first ETF
- Schwab adds two funds to lineup
- FaithShares ETF family debuts
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NEW LISTINGS Old Mutual Enters ETF Market Old Mutual brought its first ETF, the GlobalShares FTSE Emerging Markets Fund (NYSEArca: GSR), to market on Dec. 8. All expense ratios are waived on the fund through Jan. 31, 2010. After that, the expense ratio will rise to 0.39 percent. The new fund competes directly with the iShares Emerging Markets Index Fund (NYSEArca: EEM). Read the original IU.com article here. Read the prospectus here. Schwab Adds Two More ETFs To Lineup Charles Schwab’s latest low-cost exchange-traded funds were launched Dec. 4, boosting the firm’s existing lineup to six ETFs. The Schwab U.S. Large-Cap Growth ETF (NYSEArca: SCHG) and Schwab U.S. Large-Cap Value ETF (NYSEArca: SCHV) track Dow Jones indexes and come with operating expense ratios of 15 basis points—among the lowest in the industry—and commission-free online trading in Schwab accounts. Read the original IU.com article here. Read the prospectus for the funds here. FaithShares Family Of ETFs Debuts On Dec. 9, FaithShares Trust, an Okla.-based investment company, launched three faith-based ETFs that will invest in large-cap domestic names through a religious denomination screen. The funds are the first ETFs to target the Christian faith. They are:
- FaithShares Catholic Values Fund (NYSEArca: FCV)
- FaithShares Methodist Values Fund (NYSEArca: FMV)
- FaithShares Christian Values Fund (NYSEArca: FOC)
Each tracks index of 100 large-cap securities. The funds each charge expense ratios of 87 basis points. The firm plans to launch at least two more ETFs targeting different branches of Christianity. Read the original IU.com article here. Read the prospectus for the funds here.
iShares Family Adds Long-Term Bond Funds iShares launched two government- and credit-market-linked bond ETFs on Dec. 9 that will provide exposure to longer-term bonds. The iShares 10+ Year Credit Bond Fund (NYSEArca: CLY) and iShares 10+ Year Government/Credit Bond Fund (NYSEArca: GLJ) both track BofA Merrill Lynch indexes. Each charges expense ratios of 0.20 percent. Read the original IU.com article here. Read the prospectus for CLY here and for GLJ here.
Global X Launches More China-Sector ETFs Last week Global X Management rolled out two more ETFs targeted at sectors of the Chinese market. The Global X China Technology ETF (NYSEArca: CHIB) debuted on Dec. 9, while the Global X China Financials (NYSEArca: CHIX) launched Dec. 11. The funds both charge expense ratios of 0.65 percent. Read the original IU.com article here. Read the prospectus for the funds here.
New Claymore ETF Covers China Tech On Dec. 8, Claymore Securities launched its fourth exchange-traded fund focused on China’s equities markets, with the rollout of the Claymore China Technology ETF (NYSEArca: CQQQ). CQQQ’s underlying AlphaShares index covers companies classified as “Information Technology” by the Global Industry Classification Standard used by Standard & Poor’s that are also domiciled in mainland China, or in Hong Kong or Macau. The new fund charges 70 basis points. Read the original IU.com article here. Read the prospectus here. NEW FILINGS PowerShares Plans Bonds, Convertible ETFs A recent PowerShares filing indicates the firm is taking steps to launch three sector-focused corporate bond funds and one convertible fund:
- PowerShares Financial Corporate Bond Portfolio
- PowerShares Industrial Corporate Bond Portfolio
- PowerShares Utilities Corporate Bond Portfolio
- PowerShares Convertible Portfolio
The corporate bond funds will track a host of Merrill Lynch U.S. bond sector indexes—the Merrill Lynch U.S. Financial Index, the Merrill Lynch U.S. Industrial Index and the Merrill Lynch U.S. Utilities Index—which comprise corporate debt issued by financial institutions, industrial and utility issuers, respectively.
Currently, there are no exchange-traded products trading or in registration that focus on specific sectors within the corporate bond space. The convertible ETF will track the Merrill Lynch All Investment Grade U.S. Convertibles Index, which covers convertible securities sold into the U.S. market and publicly traded here, including the over-the-counter market. Read the original IU.com article here. Read the filing here. WisdomTree Plans Israel ETF WisdomTree filed papers with the SEC to launch the WisdomTree Israel Total Dividend Fund. Like most WisdomTree ETFs, the fund will weight components based on the total dividend payout of each company, as opposed to the more traditional market capitalization approach. Due to the nature of that market, the fund will be concentrated in small- and mid-cap names as well, although it's not restricted to these markets. Read the original IU.com article here. Read the prospectus here.
T. Rowe Price Looks To Enter ETF Arena In a filing this month, T. Rowe asked the SEC for approval to launch a family of actively managed ETFs, including U.S. equity, global equity and fixed-income funds. The filing did not address commission rates in its exemptive relief application. Read the original IU.com article here. Read the filing here.
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