Newcomer VelocityShares Introduces Suite of Volatility ETNs
VelocityShares LLC, a new exchange-traded product sponsor, introduced six new exchange-traded notes (ETNs) today (November 30, 2010). Issued by Credit Suisse, these unsecured notes offer long, inverse, and leveraged exposure to indexes based on Volatility Index (VIX) futures. Investors should keep...
Profits Over Prosperity
Economic data is sometimes confusing and often contradictory. Consider these two bits of information. Earnings at S&P 500 companies, and represented by ETFs like Vanguard S&P 500 ETF (VOO), have jumped 23% since the fourth quarter of 2007. Over the same period, sales at the same companies...
Citigroup Belly-Flops Into ETP Sponsor Pool
Citigroup (C) entered the pool of exchange traded product (ETP) sponsors on November 15, 2010 with the introduction of C-Tracks Citi Volatility Index Total Return ETN (CVOL). One would think that Citi would pull out all the stops in an attempt to make a favorable first impression in a competitive market. ...
Direxion To Close 2-Year Treasury 3x ETFs
November 30, 2010 will be the last day of trading for Direxion Daily 2-Year Treasury Bull 3x Shares (TWOL) and Direxion Daily 2-Year Treasury Bear 3x Shares (TWOZ). According to Rafferty Asset Management, the manager of the ETFs, the closures reflect insufficient trading demand and asset levels too...
New iShares Russia ETF (ERUS) Fails To Differentiate Itself
On Wednesday (11/10/2010), Blackrock introduced iShares MSCI Russia Capped Index Fund (ERUS). It becomes the third Russia single-country ETF available to U.S. investors while offering no improvements over the two existing funds. The fund seeks to track the MSCI Russia 25/50 Index, which is a free-float...
Global X Launches Norway ETF (NORW)
The first Norway single-country ETF began trading Wednesday (11/10/2010) with the launch of Global X FTSE Norway 30 ETF (NORW). The country of 4.8 million people on the western edge of the Scandinavian Peninsula is one of the world’s most developed countries. Norway has its own currency, the krone,...
ETF Deathwatch for November 2010
The number of exchange-traded products (ETPs) on ETF Deathwatch jumped to 154 (120 ETFs and 34 ETNs), the highest level in 18 months. Product sponsors delisted and closed six ETFs in September and another six in October. Despite the recent closures, this month’s list is four more than last month. Five...
New Uranium Miners ETF from Global X
Global X Uranium ETF (URA) began trading November 5, 2010 as the first ETF to track companies involved in uranium mining. According to the press release (pdf), uranium “is a clean resource alternative for electric generation. One pound of uranium can generate as much energy as 20,000 pounds of...
GLDX: First You Have To Find The Gold
Global X Gold Explorers ETF (GLDX) began trading November 4, 2010 becoming the first gold mining ETF focused on the exploration segment. “Gold exploration companies offer high risk-return characteristics with the potential to strike a gold mine, literally,” Global X Management’s CEO Bruno del...
Vanguard Slow To Provide Data on New International Real Estate ETF
It’s been a week since the introduction of Vanguard Global ex-U.S. Real Estate ETF (VNQI), and yet we know very little about it. Listed for trading last Monday (11/1/10), VNQI intends to provide ETF investors with a new path to international real estate exposure. The underlying S&P Global ex-U.S....
