Daily ETF Watch: 13 Funds Launch This Week

June 11, 2014

Five issuers are flooding the ETP market with 13 new ETFs and ETNs this week.

A total of 13 new ETPs are coming to market this week focused on equities and fixed income in a number of pockets of the developed world, with the rollouts including two “bespoke” ETNs associated with famed California-based advisor Ken Fisher.

This week’s product rollouts include six ETFs from State Street Global Advisors focused on the “quality” factor; four from iShares that are part of an expansion of its “Core” lineup of ETFs; and a trio of exchange-traded notes—two from UBS and one from Credit Suisse.

The three ETNs—including the two associated with Ken Fisher that are leveraged and focused on large-cap stocks, and a third focused on ex-energy master limited partnerships—go live today.

Year-to-date, 93 ETFs have launched or will launch, compared with 62 for the same period last year. All told, as of today exactly 1,600 ETFs are now listed in the U.S., with total assets under management just shy of an all-time high at $1.836 trillion, according to data compiled by ETF.com Analytics.

‘Bespoke’ ETNs?

The trio of ETNs—include the two Ken Fisher-related leveraged ETNs sponsored by Credit Suisse and UBS, are as follows:

The two Fisher-linked ETNs, identified with “FI” in their names, could well be set for instant success. In past ETN launches, Fisher has allocated significant client assets to the ETNs in the immediate aftermath of their launches, making those funds successful from the start.

For example, the Barclays ETN+ FI Enhanced Global High Yield ETN (FIGY) launched last May and is currently managing about $1.6 billion, thanks to the fact that FIGY was created as a bespoke product for asset manager Fisher Investments, which presumably holds most of the notes outstanding.

FIGY’s notes are unadvertised—lacking even a website—because they aren’t intended for independent investors, and neither are these new ETNs.

The third ETN, also from UBS, is:

Expense ratios were not available for the ETNs.

SSgA’s Quality ETFs

Among the launches on Thursday, June 12 are six from State Street Global Advisors that focus on “quality” stocks in various developed markets. These ETFs, which seek to isolate companies that have performed well over time and in different market conditions, come at a time when investors are wondering where growth will come from as interest rates rise from their low post-crash levels.

The new smart-beta ETFs will screen for value, low volatility and quality stocks in developed markets, and include:

  • SPDR MSCI Australia Quality Mix ETF (QAUS)
  • SPDR MSCI Canada Quality Mix ETF (QCAN)
  • SPDR MSCI Germany Quality Mix ETF (QDEU)
  • SPDR MSCI Japan Quality Mix ETF (QJPN)
  • SPDR MSCI Spain Quality Mix ETF (QESP)
  • SPDR MSCI United Kingdom Quality Mix ETF (QGBR)

Fees were not yet available for the new offerings.

 

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