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Global Equity Index & ETF Research -- US Weekly ETP Market Review

April 15, 2010--New Listings and Delistings
There were 3 listings in the previous week, all of them listed on NYSE Arca. Two of them track emerging market equity segments (size and sector) in Brazil and India, and the remaining ETF pursues an active strategy intended to create returns through a relative value investment approach.
Net Cashflows
Equity, Fixed Income and Commodity ETPs had inflows of $3.4 bn, $1.5 bn and $42 mm, respectively. Currency ETPs, on the other hand, experienced outflows of $157 mm.

Within Equity ETPs, Large Cap ETPs received the largest inflows ($3.7 bn) followed by Emerging Markets Regional ETPs, while US Sector ETPs saw the largest outflows ($697 mm)

The Fixed Income ETPs space saw strong inflows again this week, with Sovereign ETPs ($583 mm) and Corporates ETPs ($493 mm) leading the positive flows.

Commodity ETPs were almost neutral and no major trend was observed.

Turnover
After a couple of months of high turnover, Avg. Daily Turnover has dropped to pre-May levels. Turnover for this week was $74 bn, dropping 6.6% from the previous week.

Assets Under Management (AUM)
US ETPs AUM rose by 4.3% totaling $798 bn at the end of the week. Equity ETPs account for 72% of the assets with $578 bn, followed by Fixed Income funds with $136 bn and 17% of market share.

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Source: Deutsche Bank Global Equity Index & ETF Research


Horizons AlphaPro Launches Canada's First Actively Managed Corporate Bond ETF

July 15, 2010--- Jovian Capital Corporation and its subsidiary AlphaPro Management Inc. ("AlphaPro"), the manager of the Horizons AlphaPro exchange traded funds ("ETFs",) is pleased to announce the launch of Canada's first actively managed corporate bond ETF, the Horizons AlphaPro Corporate Bond ETF (the "Corporate Bond ETF"). The Corporate Bond ETF will begin trading today on the Toronto Stock Exchange under the symbol HAB.

The investment objective of the Corporate Bond ETF is to seek long-term moderate capital growth and generate high income. The Corporate Bond ETF will invest primarily in a portfolio of debt securities of Canadian and U.S. companies, directly or through investments in securities of other investment funds, including exchange trade funds.

"Corporate bonds are an often overlooked asset class by many income oriented investors. It's an asset class that has low correlation to equities and other types of bonds, offering greater diversification for an investor's portfolio and higher yield than government bonds, GICs and high interest savings accounts," said Ken McCord, President of AlphaPro.

The sub-advisor of the Corporate Bond ETF, Natcan Investment Management Inc. ("Natcan"), expects that the initial portfolio will be comprised of approximately 100 to 150 corporate bond issuers. Natcan's fixed income team, with more than $2 billion in corporate bond assets under management, will employ an active investment strategy which they expect will deliver better risk-adjusted returns than the DEX All Corporate Bond Index. Natcan's active strategy involves the use of macro-economic, fundamental and technical credit research to select the portfolio companies, together with analysis of the company's industry and growth prospects.

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Source: AlphaPro Management Inc,


First Trust Files with the SEC

July 15, 2010--First Trust has filed an application for exemptive relief with the SEC.

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Source: SEC.gov


US Senate passes financial reform

July 15, 2010--The US Senate finally passed a landmark reform of Wall Street on Thursday, delivering President Barack Obama’s second big legislative victory and ushering in a raft of restrictions on banks.

Mr Obama will next week sign into law the Dodd-Frank Act, bringing to a close a year-long effort to overhaul the US financial system and its regulators. “The American people will never again be asked to foot the bill for Wall Street’s mistakes,” the president said.

The action on financial reform now switches to the US Treasury and regulatory agencies, which will have to decide which companies should be designated as “systemically significant” and face higher standards of capital and supervision.

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Source: FT.com


CFTC to formulate rules on derivatives

July 15, 2010--The US agency poised to become the world’s top derivatives regulator has started work on a mountain of new rules for Wall Street even before financial reform legislation has been signed.

US legislation that passed Congress on Thursday will give the CFTC authority to police most over-the-counter swaps, threatening profits at Wall Street derivatives desks.

The bill, which awaits President Barack Obama’s signature, requires the CFTC to write new rules within a year.

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Source: FT.com


Dow Jones Indexes to Launch Indexes Measuring Long-Term Inflation Expectations

July 15, 2010--?Dow Jones Indexes today announced the launch of the Dow Jones Long-Term Inflation Indexes. This family of indexes measures the market’s expectation of the future rate of U.S. inflation. The indexes are intended to serve as the underlying basis of financial products such as exchange-traded funds, swaps and structured products.

The main index in the family is the Dow Jones Long-Term Inflation Index, which tracks the difference in returns of long-term Treasury Inflation Protected Securities (TIPS) and the long-term Ultra Treasury Bond futures contract listed at the Chicago Board of Trade. Two sub-indexes individually track returns of the component instruments.

The index methodology was developed in the New York office of Credit Suisse Group AG. Dow Jones Indexes, which is 90% owned by CME Group and 10% by Dow Jones & Company, will calculate, maintain, market and license the indexes.

“This project is an exciting example of how our joint venture is able to incorporate and leverage successful CME Group products, data and relationships?—?in this case with Credit Suisse?—?to bring innovative new index products to market,” said Michael A. Petronella, president, CME Group Index Services. “These indexes track very liquid instruments in a unique way to produce a transparent measure of inflation expectations. The indexes thus become indispensable tools for market participants who want or need to take future inflation into account in their investment strategies.”

“The Dow Jones Long-Term Inflation Index is designed to closely track long-term inflation expectations as embodied in the nominal and inflation-linked Treasury market, while avoiding undue complexity,” said Tim Blake, head of the North American interest rate products group at Credit Suisse. “The elegantly simple design creates unique, powerful indicators for everyone from retail investors to the most sophisticated institutional clients.”

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Source: Dow Jones Indexes


Direxion Lists Four ETFs on NYSE Arca

July 14, 2010--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading four ETFs sponsored by Direxion.
Direxion Daily Retail Bull 2X Shares (RETL)
The Fund seeks daily investment results, before fees and expenses, of 200% of the price performance of the Russell 1000® Retail Index. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange-traded funds.

Direxion Daily Retail Bear 2X Shares (RETS)
The Fund seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the price performance of the Russell 1000® Retail Index. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange-traded funds.

Direxion Daily Natural Gas Related Bull 2X Shares (FCGL)
The Fund seeks daily investment results, before fees and expenses, of 200% of the price performance of the ISE-Revere Natural Gas IndexTM. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange-traded funds.

Direxion Daily Natural Gas Related Bear 2X Shares (FCGS)
The Fund seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the price performance of the ISE-Revere Natural Gas IndexTM. The Fund seeks daily leveraged investment results and does not seek to achieve its stated investment objective over a period of time greater than one day. The Fund is different and much riskier than most exchange-traded funds.

Source: NYSE Euronext


Esposito Securities Seeds Its First ETF

July 14, 2010-- Esposito Securities is proud to be seeding its first ETF with 2 creation units totaling $2.5M of the Mars Hill Global Relative Value ETF. The NYSE Euronext announced that on Friday, July 9, 2010, the "GRV" ETF was listed on NYSE Arca and began trading as a new issue. The Consolidated Tape Association (CTA) will disseminate real time trade and quote information for the ETF to Tape B.

"Seeding GRV sets the tone for future activities of Esposito Securities. We will be more aggressively pursuing seeding opportunities," states Mark Esposito, CEO.

The foray of Esposito Securities into ETF activity speaks to the strategic direction of Esposito to provide across the board trading services for its clients. Esposito Securities, LLC is a part of the Esposito Global family, and provides global equity trading services. A growing list of clients use our services, including registered investment advisors, mutual funds, hedge funds, ETFs, closed end funds and unit investment trusts with trillions of dollars in assets.

The benchmark of Esposito is a commitment to customer service.

Contact any of our New York team at 212.202.0762 or visit our website at www.espositoglobal.com for more information.

Source: Esposito Securities, LLC


Horizons AlphaPro Launches S&P/TSX 60 Equal Weight Index ETF

July 14, 2010--AlphaPro Management Inc. ("AlphaPro"), the manager of the Horizons AlphaPro family of exchange traded funds ("ETFs"), is pleased to announce the listing of the first and only ETF in Canada to track the recently created S&P/TSX 60(TM) Equal Weight Index (the "Equal Weight Index"). The Horizons AlphaPro S&P/TSX 60 Equal Weight Index ETF (the "Equal Weight ETF") will begin trading today on the Toronto Stock Exchange (the "TSX") under the symbol HEW.

The Equal Weight ETF will seek to replicate the performance of the Equal Weight Index, net of expenses.

The Equal Weight Index and the S&P/TSX 60(TM) Index are comprised of 60 of the largest (by market capitalization) and most liquid securities listed on the TSX, selected by Standard & Poor's using its industrial classifications and guidelines for evaluating issuer capitalization, liquidity and fundamentals.

As its name implies, the Equal Weight Index assigns an equal weight to each of the constituent 60 Canadian stocks in the S&P/TSX 60(TM) Index and is rebalanced on a quarterly basis.

ETFs that use the S&P/TSX 60(TM) Index as a benchmark represent a large proportion of Canadian ETF assets. The S&P/TSX 60(TM) Index uses a market-capitalization weighting ("Cap-Weighted") methodology. A Cap-Weighted methodology assigns a weight to each constituent issuer based on its market capitalization and is not rebalanced.

As of June 21, 2010, the last rebalance date of the Equal Weight Index, the 10 largest constituents represented more than 45.4% of the weight of the S&P/TSX 60(TM) Index, whereas these same 10 stocks represented less than 17% of the weight of the Equal Weight Index. In addition, 32.9 % of the S&P/TSX 60(TM) Index was concentrated in the financial sector, while only 16.7% of the Equal Weight Index was in that sector.

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Source: AlphaPro Management


UBS AG Exchange Traded Access Security (E-TRACS) Linked to the Alerian Natural Gas Index to begin trading on NYSE Arca

July 14, 2010-- NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the UBS AG Exchange Traded Access Security (E-TRACS) Linked to the performance of the Alerian Natural Gas Index due July 9, 2040. Issued by UBS AG, this exchange traded note is a senior unsecured medium-term note, which may issue a quarterly coupon during their term less the accrued fees.

The Alerian Natural Gas Index is composed of the 15 largest natural gas infrastructure-focused master limited partnerships, whose constituents generally earn the majority of their EBITDA from the transportation, storage, and processing of natural gas. It provides investors with a transparent value for midstream companies with long-term contracts and hard assets exposed to potential growth from the expansion of existing pipeline and storage capacity, as well as supply shifts associated with other large-scale U.S. shale projects.

For more information on the fund, please visit http://www.ibb.ubs.com/mc/etracs_US/

Source: NYSE Euronext


SEC Filings


March 14, 2025 Listed Funds Trust files with the SEC-GlacierShares Nasdaq Iceland ETF
March 14, 2025 Volatility Shares Trust files with the SEC- -1x Solana ETF and 2x Solana ETF
March 14, 2025 First Trust Exchange-Traded Fund VIII files with the SEC-FT Vest Emerging Markets Buffer ETF-March
March 14, 2025 First Trust Exchange-Traded Fund VIII files with the SEC-FT Vest U.S. Equity Equal Weight Buffer ETF- March
March 14, 2025 Cambria ETF Trust files with the SEC-Cambria Fixed Income Trend ETF

view SEC filings for the Past 7 Days


Europe ETF News


March 12, 2025 Nasdaq Stockholm welcomes HANetf as new ETP provider
March 12, 2025 New on Xetra: crypto ETN from 21Shares with access to the crypto basket of Bitcoin and Ethereum
March 10, 2025 European approval for semi-transparent ETFs sparks debate
March 05, 2025 European investors dump US equity ETFs in February
March 04, 2025 Euronext plan to consolidate ETF trading venues sparks scepticism

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Asia ETF News


March 12, 2025 Coinbase returns to India: Crypto exchange confirms securing FIU regulatory nod
March 11, 2025 KB Asset Management Launches KB RISE US Quantum Computing ETF, Tracking the Solactive US Quantum Computing Technology Index
February 17, 2025 ETFs jump to two-thirds of all Taiwan fund assets
February 17, 2025 China explores relaxing rules to allow multi-asset ETFs

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Global ETP News


February 17, 2025 ETFGI reports assets invested in the global ETFs industry surpassed the hedge fund industry by US$10.33 trillion at the end of 2024

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Middle East ETP News


March 03, 2025 Saudi Tadawul profit surges 60% on higher trading value
February 28, 2025 Egypt's economic growth likely to accelerate, says bank
February 20, 2025 Abu Dhabi Securities Exchange welcomes the listing of Chimera iBoxx US Treasury Bill ETF

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Africa ETF News


February 11, 2025 Digital public infrastructure (DPI) will drive AI for Africa's economic transformation

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ESG and Of Interest News


March 05, 2025 Half of world's CO2 emissions come from 36 fossil fuel firms, study shows
March 05, 2025 Carbon Majors: 2023 Data Update March 2025
February 12, 2025 OECD Services Trade Restrictiveness Index Policy Trends up to 2025

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White Papers


February 09, 2025 White Paper-Monetary Policy Predicts Currency Movements

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