ETF Watch: Oppenheimer Plans Int’l Funds

January 11, 2017

A recent filing from OppenheimerFunds outlines plans for international and global ETFs. The Oppenheimer Global Revenue ETF and Oppenheimer International Revenue ETF will cover foreign stocks and track indexes that are alternatively weighted.  

The “International Revenue” fund will track an index derived from a traditional cap-weighted index that covers developed markets except for the U.S. and Canada. The fund’s benchmark is reweighted based on revenue, like the other OppenheimerFunds products.

Meanwhile, the “Global Revenue” fund will track a global ex-U.S. index covering both developed and nondeveloped markets. Unlike the international fund and despite its name, the global fund's index's methodology is based on the Sharpe ratio as well as revenue. The parent index’s holdings are ranked by Sharpe ratio, with the bottom half excluded from the new index and the remaining stocks reweighted based on revenue.

The filing did not include tickers, expense ratios or a primary listing exchange.

OppenheimerFunds currently has nine U.S.-listed ETFs that incorporate revenue into their weighting approaches. The funds have combined assets of more than $1.6 billion.

Contact Heather Bell at [email protected].

 

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