Daily ETF Watch: Victory Adds EM Fund

Victory Capital Management, which acquired Compass EMP about a year ago, has rolled an emerging markets ETF. The Victory CEMP Emerging Market Volatility Wtd Index ETF (CEZ) tracks an in-house index that selects the 500 largest emerging market companies with positive earnings and weights them based on volatility, with lower-volatility stocks getting higher weightings and vice versa.

There are 10 other ETFs in the Victory CEMP family of funds, with roughly $465 million in assets under management

CEZ comes with an expense ratio of 0.50%.

2 Funds To Get New Indexes

Guggenheim Investments recently filed to change the underlying indexes for two of its ETFs. The Guggenheim Timber ETF (CUT | C-16) and the Guggenheim Spin-Off ETF (CSD | D-54) both currently track benchmarks provided by Beacon Indexes, but will adopt new ones on or around May 20.

CUT will drop the Beacon Global Timber Index in favor of the MSCI ACWI IMI Timber Select Capped Index and change its name to the Guggenheim MSCI Global Timber ETF. The new index has approximately 90 components, while the current index has less than 30.

CSD currently tracks the Beacon Spin-off Index, but will switch to the S&P U.S. Spin-Off Index. The old benchmark has nearly 40 components, while the new index had nearly 60 as of the end of February. While the current index holds companies that have been spun off within the past 30 months but not within the last six months, the new index will add companies within seven days of their spin-offs and hold them for up to four years.

CUT was launched in November 2007 and currently has $163.4 million in assets under management. CSD was rolled out in December 2006 and has $241.7 million in assets.

Contact Heather Bell at [email protected].