ETF Watch: iShares Rolls Out Ex-China Fund

July 20, 2017

Today iShares rolled out a fund with an interesting twist on emerging markets: It omits China, the largest market in almost every emerging market product. The iShares MSCI Emerging Markets ex-China ETF (EMXC) covers the remaining 22 of the 23 markets that MSCI defines as “emerging.”

EMXC comes with an expense ratio of 0.49% and lists on the Nasdaq exchange.

The fund’s index is weighted by market capitalization and covers mid- and large-cap stocks in its target markets, the prospectus notes.

The Columbia EM Core ex-China ETF (XCEM) launched in September 2015 and offers similar exposure. However, it has only gathered $9.5 million in assets under management.

3X Oil Funds Debut

Yet another firm is jumping on the 3X oil futures ETF bandwagon. Today United States Commodity Funds has launched the United States 3x Oil Fund (USOU) and the United States 3x Short Oil Fund (USOD) on the NYSE Arca.

The funds come with rather staggering expense ratios of 1.84% for USOU and 2.19% for USOD.

While USOU offers three times the daily performance of the short-term futures contract on light, sweet crude oil, USOD provides three times the inverse of the same contract. There are three other similar product pairings offered by VelocityShares, UBS and ProShares. The funds, their tickers and their expense ratios are below:

Late last year, Credit Suisse caused quite a stir when it delisted its pair of triple-exposure oil futures ETNs, despite the fact that they had combined assets of roughly $1 billion. Since the delisting of the VelocityShares 3x Long Crude Oil ETN (UWTI) and the VelocityShares 3x Inverse Crude Oil ETN (DWTI), the above products have all sprung into being to fill the void.   

While USCF is the sponsor of the two products, REX Shares, another ETF issuer, partnered closely with the firm to help it develop and launch them.

 

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