Reno, Nev.-based upstart One Fund casts a wider net to include foreign securities in its ETFs.
U.S. One Trust, the Reno, Nev.-based investment adviser, filed with the Securities and Exchange Commission to offer a line of actively managed exchange-traded funds of funds that invest in both U.S.- and foreign-listed securities. Currently,
ONEF’s top holdings are the Vanguard Large Cap ETF (NYSEArca: VV), the Vanguard Europe Pacific ETF (NYSEArca: VEA), and the Vanguard Small Cap ETF (NYSEArca: VB), which together account for nearly 90 percent of its assets.
U.S One is positioning itself as a provider of products for the smaller individual investor who may not have sufficient investable assets to garner the attention of most financial advisers.
For example, ONEF has attracted around 200 individual shareholders since its launch, making the average investment in the fund $25,000.
According to the exemptive relief filing,
Exemptive relief filings grant ETF firms exception to sections of the Investment Act of 1940 and are just the first step in the path to launching ETFs. It often takes at least six to 12 months from the date of the initial filing for a company’s first ETF to hit the market.