ETF Watch: Guggenheim Files For India Funds

March 17, 2017

A recent filing from Guggenheim covers a pair of ETFs that will focus on India. The Guggenheim S&P BSE Mid-Cap Select India ETF and the Guggenheim S&P BSE Sensex India ETF will cover the midcap and blue chip markets, respectively.

The midcap fund will track the S&P BSE MidCap Select Index. The 30-stock index selescts its components based on their size and liquidity. Meanwhile, the other fund in the filing tracks the S&P BSE Sensex Index, which covers 30 of the country’s largest blue chip companies, selected based on their size, liquidity and stability criteria, the prospectus said.

India-Focused ETFs

There are currently 13 U.S.-listed ETFs that cover slices of India’s equity and currency markets. The largest is the iShares MSCI India ETF (INDA), a broad-based fund with $4.3 billion in assets under management. Although there are three funds that currently target India’s small-cap market, none focuses on its midcap segment.

But the blue chip fund will likely be most comparable to the iShares India 50 ETF (INDY), which has $803 million in assets and covers 50 of India’s largest stocks.

Both funds are slated to list on the NYSE Arca. However, the filing did not include tickers or expense ratios.

Contact Heather Bell at [email protected].


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