Daily ETF Watch: Recon Plans LatAm Div Fund

Recon Capital, in partnership with BullMark Financial Group, has filed for an ETF that will target Latin American companies that pay high dividends relative to their peers. The BullMark LatAm Select Leaders ETF will track an index provided by BullMark and list on the Nasdaq stock exchange.

The BullMark ETF will track high-dividend-paying companies that have at least $500 million in market capitalization and are listed in Brazil, Mexico, Chile, Peru or Colombia. The underlying index has 33 components and does not put any restrictions on how many companies from any single country can be included in the index. The prospectus specifically notes that all 33 components could come from a single market.

However, the prospectus did not explain its selection process or how the components are weighted.

The fund will come with an expense ratio of 0.70 percent.

Contact Heather Bell at [email protected].