Redefining Yield With Cambria Shareholder Yield ETF
The Cambria Shareholder Yield ETF (SYLD), launched May 14, is an actively managed ETF employing a quantitative algorithm to select companies with strong emphasis on returning free cash flow to their shareholders. In addition to cash dividends, net share repurchases and reducing debt are the two other...
Global X Launches U.S. SuperDividend ETF
Global X SuperDividend U.S. ETF (DIV), launched 3/12/13, intends to track an index of 50 equally weighted common stocks, MLPs, and REITs that rank among the highest dividend yielding equity securities in the United States. The underlying INDXX SuperDividend U.S. Low Volatility Index also restricts...
Low Volatility Landscape Gets Four New ETFs
Four new low volatility ETFs came to market this month, adding to a growing landscape of factor-based investment vehicles. Invesco PowerShares has first-mover status in the low volatility equity category with its May 2011 introduction of the PowerShares S&P 500 Low Volatility Portfolio (SPLV). ...
Van Eck Introduces Market Vectors BDC Income ETF (BIZD)
Business Development Companies (“BDCs”) fall under a special designation of the Investment Company Act of 1940 (“the 40 Act”). BDCs typically lend capital or provide services to private companies and public companies with thinly traded securities, often taking positions in both the equity and...
YMLI Adds Layer of Taxation to MLP Ownership
The Yorkville High Income Infrastructure MLP ETF (YMLI) began trading on February 12, 2013. Don’t let the name fool you. Unlike thousands of other exchange traded funds (“ETFs”) and mutual funds that are Regulated Investment Companies under the Investment Company Act of 1940, YMLI has chosen...
MLPJ: New Junior MLP ETF Has 38% Daily Tracking Error
Today (1/15/13), Global X launched another C-corporation masquerading as an ETF. The Global X Junior MLP ETF (MLPJ) elected not to be a regulated investment company. Like the other C-corporation ETFs that came before it, I believe MLPJ’s marketing literature falls far short of informing potential...
Complete List of 178 New ETPs for 2012
Exchange-traded product launches numbered 178 in 2012. Despite the rapid start to the year, the final tally was only the fifth largest on record. The quantity represented a decrease of 42% from the record of 308 introductions set a year ago. New products in 2012 consisted of 155 ETFs and 23 ETNs. ...
PHDG: Stocks, VIX, Active Management, and Indexing In One ETF
The PowerShares S&P 500 Downside Hedged Portfolio (PHDG) was launched December 6, becoming the first ETF to be both actively managed and indexed. The fund uses an absolute return strategy that seeks to achieve positive returns in rising or falling markets not directly correlated to equity or bond...
Three New Pure Play ETFs From FactorShares PureFunds
FactorShares, the sponsor that introduced spread trading in an ETF wrapper back in early 2011, launched a new line of ETFs under a new PureFunds brand. According to the firm’s literature, PureFunds was designed to provide the market with easy access to niche sectors through Pure-Play ETFs. PureFunds...
RBS Rolls Out Five Rogers Enhanced Commodity ETNs
The Royal Bank of Scotland (RBS) introduced five new exchange traded notes (“ETNs”) on November 15. The new ETNS are based on “enhanced” versions of Rogers International Commodity Indexes (“RICI”). The underlying indexes were developed by RBS and Jim Rogers in October 2007 and have been maintained...
