Daily ETF Watch: New GURU-Like ETFs Filing

Global X’s complements to its GURU ETF are nearing a launch date.

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Reviewed by: Hung Tran
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Edited by: Hung Tran

Global X’s complements to its GURU ETF are nearing a launch date.

Global X filed updated regulatory paperwork detailing two ETFs to complement its successful $505.7 million Global X GURU ETF (GURU | B-50), which attracted $363.6 million in 2013, according to data compiled by ETF.com.

The firm, naming expense ratios and tickers of the planned funds for the first time, is looking to roll out the Global X Guru Small Cap Index ETF (GURX) and the Global X Guru International Index ETF (GURI). Like their predecessor GURU, both will both employ 13F filings used by hedge fund managers to drive stock selection in their respective markets.

Both funds will have annual expense ratios of 0.75 percent, or $75 for every $10,000 invested.

When issuers name the price of a fund in regulatory paperwork, it usually suggests a launch is coming soon.

The two funds’ predecessor, GURU, tracks an equal-weighted index that attempts to mimic concentrated equity positions taken by large hedge funds, as reported in public 13F filings with the Securities and Exchange Commission. It has gained 29.4 percent in the past 12 months.

Launches

AdvisorShares today is launching four gold ETFs in a strategy that will be directly linked to Dennis Gartman’s ideas about gold investing. Specifically, each ETF will acquire gold in the respective currencies—yen, pound and euro—in an effort to provide investors with access to gold while reducing exposure to the dollar.

The main fund—the AdvisorShares International Gold ETF (GLDE)—will be a fund-of-funds strategy that will invest in the other three exchange-traded products that tap into the international gold market. It has an annual expense ratio of 1.52 percent, or $152 for every $10,000 invested.

The portfolio will consist primarily of long positions in these various ETFs, each of which are launching today as well. Each will cost 0.65 percent in expense ratio, or $65 for every $10,000 invested. The three ETFs are:

  • Gartman Gold/Yen ETFs (GYEN)
  • Gartman Gold/British Pound ETF (GGBP)
  • Gartman Gold/Euro ETF (GEUR)

 

 

Hung Tran is a former staff writer for etf.com.