Daily ETF Watch: 3 Firms Debut 4 Funds

November 10, 2015

Four funds rolled out on the NYSE Arca today, each one targeting a non-cap-weighted strategy. Goldman Sachs launched an addition to its growing ActiveBeta family, while FlexShares rolled out currency-hedged versions of two of its “Tilt” ETFs. And AlphaClone debuted its second hedge-fund-replication strategy.

Goldman Sachs

The Goldman Sachs ActiveBeta International Equity ETF (GSIE) joins the Goldman Sachs ActiveBeta US Large Cap Equity ETF (GSLC) and the Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM).

The three funds all track in-house indexes targeting the value, momentum, quality and low-volatility factors. Components are weighted by their exposure to those factors.

GSIE covers developed-market countries and comes with an expense ratio of 0.35 percent.

AlphaClone

AlphaClone has launched the second fund under its brand that tracks holdings by top hedge fund managers. The AlphaClone International ETF (ALFI) is tied to the AlphaClone International Downside Hedged Index.

ALFI’s index basically selects 40 ADRs that represent high-conviction international holdings from the leading hedge fund managers in its database. The securities’ weightings are adjusted by the number of managers that hold them, according to a press release.

The fund comes with an expense ratio of 0.95 percent.

FlexShares

Northern Trust’s FlexShares ETF arm has rolled out two funds that are currency-hedged versions of existing funds. The FlexShares Currency Hedged Morningstar DM ex-US Factor Tilt Index Fund (TLDH) and the FlexShares Currency Hedged Morningstar EM Factor Tilt Index Fund (TLEH) will mostly invest in the FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund (TLTD | B-93) and the FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE | C-93), respectively.

The Morningstar Tilt methodology is designed to provide greater exposure to small-cap and value stocks.

TLDH comes with an expense ratio of 0.47 percent versus 0.42 percent for its counterpart TLTD, while TLEH charges 0.70 percent versus 0.65 percent for TLTE.

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