ETF NEWS - 6/26/2014

Posted on 06/26/2014

  • UBS is launching a levered version of its recently released MLP ex-energy ETN, [FMLP]. The new issue, the ETRACS Monthly Pay 2x Leveraged Wells Fargo MLP Ex-Energy ETN, will begin trading on Wednesday, June 25 under the symbol [LMLP]. [LMLP] will seek to track the Wells Fargo MLP Ex-Energy Index – an expense ratio has not been made available, but the funds non-leveraged brother charges 0.85%.

     

  • Bank and Asset Manager Wells Fargo is looking to gain a share of the ETF market by issuing its own products and active ETFs, following the recent trend by competitors. Wells’ first product would be the Wells Fargo Advantage Ultra Short-Term Bond ETF. This ETF will invest in short-term debt instruments including government bonds, corporate debt, bank loans, as well as mortgage and asset-backed securities. The symbol and management fee have not yet been made available.

     

  • KraneShares latest proposed fund, the KraneShares E Fund China Commercial Paper ETF, will track the performance of investment-grade paper issued by corporate, sovereign, and quasi-sovereign issuers in the People’s Republic of China, the CSI Diversified High-Grade Commercial Paper Index. In keeping with their focus on China, KraneShares will also be offering a currency-hedged version of the fund, [KEEP]. [KEEP] will charge an expense ratio of 0.68%. Symbol and expense ratio were not made available for the non-hedged fund.
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