ETF Watch: REX Closure Brings Total To 31
Issuer closing one of its gold-hedged funds.
Yesterday was the last day of trading for one of the REX ETFs. The REX Gold Hedged FTSE Emerging Markets ETF (GHE) launched a little over a year ago and gathered minimal assets. The fund’s closure brings the year-to-date total number of ETF shutdowns to 31.
GHE offered equity exposure via holdings that tracked the FTSE Emerging Index as well as gold exposure through a futures portfolio held in a Cayman Islands subsidiary. REX also markets a similar fund that combines exposure to the S&P 500 Index with a gold component, the REX Gold Hedged S&P 500 ETF (GHS),which has $4.5 million in assets under management.
REX ETFs was founded by industry stalwart Greg King, who previously co-founded VelocityShares and also held positions at Credit Suisse and Global X.
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