CPER: Now You Can Buy Copper in a Fund Format
United States Commodity Funds LLC teamed up with SummerHaven Index Management to bring out a copper futures fund that attempts to optimize the performance impacts caused by contango and backwardation. The United States Copper Index Fund (CPER) launched on November 15, 2011 with an objective to track...
Global X Hopes You Will “Like” Its New Social Media ETF
On November 15, 2011, Global X Funds launched the Global X Social Media Index ETF (SOCL), the first ETF to target social media companies. The underlying Solactive Social Media Index is designed to reflect the performance of companies providing social networking, file sharing, and other web-based media...
PowerShares Adds Inverse Versions of Japanese Bond ETNs
PowerShares launched a pair of DB Inverse JGB Futures ETNs in early November (11/9/11). The new exchange-traded notes (“ETNs”) are based on the DB USD Inverse JGB Futures Index, which is intended to measure the performance of a short position in 10-year JGB Futures in U.S. dollars. Investor fees...
Russell Takes Factor ETFs International
Russell launched another suite of Factor ETFs on November 3, 2011, this time targeting international developed markets. Russell Developed ex-U.S. High Momentum ETF (XHMO), Russell Developed ex-U.S. Low Beta ETF (XLBT), and Russell Developed ex-U.S. Low Volatility ETF (XLVO) all use the same basic approach...
PowerShares Fills the Void for KBW Indexed ETFs
Invesco PowerShares introduced four ETFs on November 1st, all based on financial sector indexes from Keefe, Bruyette & Woods (KBW). Although they are in fact new ETFs, it may be easier to think of them as replacements for the four SPDR ETFs that recently changed their benchmarks from KBW to S&P...
New PIMCO International Bond ETFs Lack Data
PIMCO launched three international bond ETFs earlier this month. All are designed to track long-standing Bank of American/Merrill Lynch indexes. For unknown reasons, PIMCO chose not to share any historical index data with potential ETF shareholders. This leaves prospective investors without yield,...
ETN Holders: Do You Know To Whom You Are Lending?
Exchange Traded Funds (“ETFs”) and Exchange Traded Notes (“ETNs”) are similar in some ways but have major differences as well. When you buy an ETF, you receive an ownership stake in a pooled investment, structured as an independent entity. When you buy an ETN, you are essentially lending...
ETF Deathwatch for November 2011: Count Surges to Record High
ETF Deathwatch membership surges to an all time high for November. Thirty-seven new names are joining the list, while only a dozen are leaving. The net increase of 25 products boosts the count to 211, representing a 13% increase over the 186 for October. The current list contains 154 ETFs and 57...
ETF Stats for October 2011: YTD Launches At 275
New product introductions totaled 275 in the first ten months of 2011. October saw 27 new ETPs come to market, consisting of 17 ETFs and 10 ETNs. Three ETFs closed and liquidated, putting the net gain in listed products at 24 for October. The quantity of U.S. listings now stands at 1,359 (1,163...
RBS Launches Questionable Pharma ETP
The Royal Bank of Scotland last week (10/24/11) launched an exchange-traded note (“ETN”) linked to the performance of the NYSE Arca Equal Weighted Pharmaceutical Total Return Index. There are already four exchange-traded funds (“ETFs”) tracking this industry. Why anyone would want to gain...
