Barclays Adds To Fisher ETN Lineup

March 19, 2018

Barclays on Friday rolled out two new ETNs sponsored by money management firm Fisher Investments, which specializes in high net worth clients. The Barclays ETN+ FI Enhanced Global High Yield Exchange Traded Notes Series B (FIYY) and the Barclays ETN+ FI Enhanced Europe 50 Exchange Traded Notes Series C (FFEU) both track indexes used by other Fisher-sponsored ETNs.

Both list on the NYSE Arca.

Fisher Investments has also partnered with Deutsche Bank, Credit Suisse and UBS to roll out ETNs that it uses in its own strategies. The two latest launches bring the total number to nine products, with roughly $6 billion in assets under management. The products are all leveraged, or “Enhanced,” and are not really marketed at all.

FIYY tracks the MSCI World High Dividend Yield Index, offering 2x leverage that is reset on a quarterly basis. The global index covers stocks with above-average dividend yields in emerging and developed markets.

It’s basically a clone of two pre-existing products, the Deutsche Bank FI Enhanced Global High Yield ETN (FIEG) and the UBS AG FI Enhanced Global High Yield ETN (FIHD), but the new product has an investor fee of just 0.93% versus expense ratios of 1.75% and 1.65% for FIEG and FIHD, respectively.

FFEU is similarly a clone of the UBS AG FI Enhanced Europe 50 ETN (FIEE) and the Barclays ETN+ FI Enhanced Europe 50 ETN Series B (FLEU). All three funds track the STOXX Europe 50 Index and offer that same 2x leverage that is reset on a quarterly basis. FFEU’s investor fee is 1.05%, lower than the 1.95% charged by FIEE and more than the 0.76% charged by FLEU.

Contact Heather Bell at [email protected]

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