ETF Watch: A Launch, A Split, A Relisting

September 30, 2016

AdvisorShares, the ETF issuer known for its actively managed funds, launched this week an ETF focused on South Korea. The fund will join seven other South Korea-focused ETFs, the biggest of which is the iShares MSCI South Korea Capped ETF (EWY), with $3.5 billion in assets.

The AdvisorShares KIM Korea Equity ETF (KOR) is subadvised by Korea Investment Management, South Korea’s “largest independent asset manager,” according to the company. The ETF invests primarily in growth stocks found among mid- and large-cap Korea-listed equities. KOR’s largest holding at inception is Samsung, at about 15% of the portfolio.

The ETF costs a net of 0.99% in expense ratio, which includes a fee waiver of 0.40%. That’s the highest price tag in this segment, except for a leveraged ETF that costs more.

ETF Split

State Street Global Advisors did a 2-for-1 split on the SPDR Barclays International Treasury Bond ETF (BWX), effective Sept. 29. The split essentially doubles the number of outstanding shares of BWX—cutting the price of a single share in half, making them more affordable.

The fund tracks a market-value-weighted index of investment-grade fixed-rate foreign government bonds, and has $1.6 billion in assets. Shares of BWX Thursday were trading at about $29. The fund has gained nearly 12% this year.

ETF Relisting

Highland Capital Management has moved the primary listing of the Highland iBoxx Senior Loan ETF (SNLN) to Nasdaq. The ETF was originally listed on the NYSE Arca.

Launched in November 2012, SNLN has $441 million in assets under management.

Contact Cinthia Murphy at [email protected]

 

 

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