State Street Global Advisors files for 6 actively managed SPDRs.
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Editor's Note: As of the start of 2012, ETF Watch has transitioned to daily updates, rather than weekly.
Covering Dec. 16-29
THURSDAY, DEC. 28
SSgA Files For More Active SPDRs
With two separate filings, State Street Global Advisors put a total of six actively managed ETFs into registration. The first filing covers three ETFs that will be managed by Massachusetts Financial Services Company and use fundamental and quantitative analysis to select companies. Those funds include:
- SPDR MFS Systematic Core Equity ETF
- SPDR MFS Growth Equity ETF
- SPDR MFS Systematic Value Equity ETF
The second filing details plans for three funds that target equities in the Russell 3000, Russell 1000 and Russell 2000, respectively, that are in line with “investor risk preferences.” In other words, the funds will increase their exposure to risk when risk is perceived to be low, and lower its exposure to risk when risk is perceived to be high. The three funds include:
- SPDR SSgA Risk Aware ETF
- SPDR SSgA Large Cap Risk Aware ETF
- SPDR SSgA Small Cap Risk Aware ETF
Neither filing included tickers or expense ratios.
THURSDAY, DEC. 21
ALPS Debuts 4 ETFs Tracking Goldman Indexes
ALPS rolled out four new ETFs tied to indexes from Goldman Sachs. Three of the ETFs track indexes comprising other ETFs; the indexes seek to capture the price momentum of certain targeted markets. The three funds and their expense ratio are:
- ALPS/GS Momentum Builder Growth Markets Equities and U.S. Treasuries Index ETF (NYSEArca: GSGO), 1.29 percent. It covers emerging markets and the U.S. Treasurys space.
- ALPS/GS Momentum Builder Multi-Asset Index ETF (NYSEArca: GSMA), 1.14 percent. It covers a broad range of asset classes.
- ALPS/GS Momentum Builder Asia ex-Japan Equities and U.S. Treasuries Index ETF (NYSEArca: GSAX), 1.22 percent. It covers Asian equities and the U.S. Treasurys market.
Finally, the ALPS/GS Risk-Adjusted Return U.S. Large Cap Index ETF (NYSEArca: GSRA) targets the 50 stocks in the Russell 1000 that are expected to have the highest risk-adjusted returns as identified via a Goldman-developed methodology. It charges an annual fee of 0.55 percent.
WEDNESDAY, DEC. 19
FlexShares Debuts 3 Dividend ETFs
Northern Trust's FlexShares unit rolled out three ETFs that select their components based on dividend payouts and fundamental factors. The funds and their expense ratios are:
- FlexShares Quality Dividend Index Fund (NYSEArca: QDF), 0.37 percent after a 0.01 percent fee reimbursement.
- FlexShares Quality Dividend Defensive Index Fund (NYSEArca: QDEF), 0.37 percent
- FlexShares Quality Dividend Dynamic Index Fund (NYSEArca: QDYN), 0.37 percent
AdvisorShares Rolls Out Business-Cycle ETF
AdvisorShares debuted an actively managed ETF that invests in a range of asset classes as it seeks to outperform the market in all phases of the business cycle. The Pring Turner Business Cycle ETF (NYSEArca: DBIZ) will invest in equities, fixed-income and other exchange-traded products as it utilizes a strategy created by Martin Pring of Pring Turner Capital Group. The fund comes with an expense ratio of 1.62 percent.
PowerShares Closing 13 ETFs
Invesco PowerShares announced that it would be closing 13 of its ETFs. The funds, which all each have less than $16 million in assets, will cease trading on Feb. 26, with final liquidation set for Mar. 7. The list of funds includes:
- PowerShares Dynamic Insurance Portfolio (NYSEArca: PIC)
- PowerShares Morningstar StockInvestor Core Portfolio (NYSEArca: PYH)
- PowerShares Dynamic Banking Portfolio (NYSEArca: PJB)
- PowerShares Global Steel Portfolio (NasdaqGM: PSTL)
- PowerShares Active Low Duration Portfolio (NYSEArca: PLK)
- PowerShares Global Wind Energy Portfolio (NasdaqGM: PWND)
- PowerShares Active Mega-Cap Portfolio (NYSEArca: PMA)
- PowerShares Global Coal Portfolio (NasdaqGM: PKOL)
- PowerShares Global Nuclear Energy Portfolio (NYSEArca: PKN)
- PowerShares Ibbotson Alternative Completion Portfolio (NYSEArca: PTO)
- PowerShares RiverFront Tactical Balanced Growth Portfolio (NYSEArca: PAO)
- PowerShares RiverFront Tactical Growth & Income Portfolio (NYSEArca: PCA)
- PowerShares Convertible Securities Portfolio (NYSEArca: CVRT)
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