iShares, SSgA and PowerShares are all bringing new funds to market today.
iShares, State Street Global Advisors and PowerShares are bringing a total of four ETFs to market today spanning equities and fixed-income strategies.
The most prominent of the launches, from San Francisco-based iShares, is its rollout of two actively managed funds: the iShares Enhanced International Large-Cap ETF (IEIL) and the iShares Enhanced International Small-Cap ETF (IEIS) on the NYSE Arca today, according to a NYSE Arca communique.
The new funds are international riffs of two active U.S. equity funds launched last April: the iShares Enhanced U.S. Large-Cap ETF (IELG | B-76) and the iShares Enhanced U.S. Small-Cap ETF (IESM | B-59).
PowerShares is bringing to market an international version of its successful “Buyback Achievers” fund focused on the U.S. equity market, while SSgA is rolling out a short-dated ETF focused on the TIPS market.
The new funds are coming to market at a time when equity prices are under pressure in developed as well as emerging markets, stunted by slow growth in the U.S. and China in addition to the Federal Reserve’s tapering of its economic stimulus.
Today’s four launches raise to 39 the number of ETFs brought to market so far this year. About 1,570 ETFs now populate the universe of U.S.-listed ETFs, and total assets are now at a record $1.716 trillion, according to data compiled by ETF.com Analytics.
IEIL, the large-cap iShares fund launching today, will cost 0.35 percent a year, or $35 for every $10,000 invested and IEIS, the small-cap international fund, has an expense ratio of 0.49 percent, or $49 for every $10,000 invested.
PowerShares today is also launching the PowerShares International BuyBack Achievers Portfolio (IPKW) that, in essence, will serve up an international angle to its successful $2.7 billion PowerShares Buyback Achievers Portfolio (PKW | B-92). The fund invests in foreign companies classified as “BuyBack Achievers” that have reduced 5 percent or more of their outstanding shares in the past 12 months.
The fund will have an expense ratio of 0.55 percent, or $55 for each $10,000 invested.
SSgA is serving up its SPDR Barclays 0-5 Year TIPS ETF (SIPE) today in hopes of expanding its reach into inflation-protected investment vehicles at a time of heightened concern about mounting inflationary pressures, according to a NYSE Arca communique. The fund has an annual expense ratio of 0.15 percent, or $15 for each $10,000 invested.
J.P. Morgan Plans Smart-Beta Funds
- J.P. Morgan has filed initial regulatory paperwork for three smart-beta funds spanning global markets, including the JPMXF Diversified Return Emerging Markets Equity ETF, JPMXF Diversified Return Global Equity ETF and the JPMXF Diversified Return International Ex-North America Equity ETF.
All three funds will track FTSE factor indexes. Associated fees and tickers for the funds were not made available.