November was a slow month for ETF growth, starting with the delayed releases of all both Pryxis and RBS funds due to Hurricane Sandy wrecking havoc on the entire Eastern shoreline. These funds did eventually make their way to market, but as the end of the month and Thanksgiving approached, the U.S. markets stayed stable and slow [for updates on all new ETFs, sign up for the free ETFdb newsletter].
The re-election of President Obama and the looming fiscal cliff has brought a lot of confusion to the general market, which may have played a part in the ETF slowdown. Only three funds left the market, but the real excitement this month was in the filings of six funds and three funds entering the market. PureFunds is listing its first ETFs with month, with both Radiance Asset Management and ETF Investor Solutions are bringing their first products to the SEC, and we will see what these new funds have to offer before 2013 [see Free Member Report: How To Pick The Right ETF Every Time].
New exchange-traded products that began trading in November include:
- Pryxis/iBoxx Senior Bank Loan ETF (SNLN): Pyxis enters the ETF ring with its first ETF added to its list of products, which is primarily dominated by mutual funds. Senior banks loans are the most recent fixed income asset class available to investors and have proven in the past to be great as a long-term debt instrument.
- RBS Rogers Enhanced Commodity ETN (RGRC), Agriculture ETN (RGRA), Energy ETN (RGRE), Precious Metals ETN (RGRP) and Industrial Metals (RGRI): RBS teams up with Jim Rogers to create five unique commodity ETNs to break through the already vast ocean of existing products with the guidance of the investor living legend.
- PureFunds ISE Diamond/Gemstone ETF (GEMS), Mining Service ETF (MSXX), and Junior Silver ETF (SILJ): PureFunds released a set of specialized commodity funds just in time to be a part of the November launches, focusing in on diamond and silver mining and exploration operations around the world.
A number of filings for new products hit the wire in November, many of which could begin trading in the fourth quarter:
- WisdomTree and iShares started the month both filing for global corporate bond ETFs.
- Global X and Van Eck filed for ETFs; Global X planning a domestic super dividend ETF, while Van Eck prepares for a new distressed and defaulted debt ETF.
- Radiance Asset Management, ETF Issuer Solutions and First Trust are planning for new funds, the first for Radiance and Issuer Solutions. Radiance’s fund will be focused on domestic equity; ETF Issuer Solutions is looking towards actively trading alternative funds, while veteran First Trust is looking to introduce an actively-managed global tactical commodities futures ETF.
- Schwab has filed for an actively-managed short-term bond ETF in the hopes of competing with Pimco’s MINT.
With new products in the pipeline from previous months, one ETF issuer decided to cut its ETFs that have fallen flat:
- QuantShares liquidated three ETFs on November 2: US Market Neutral Anti Momentum Fund (NOMO), High Beta Fund (BTAH) and Quality Fund (QLT).
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Disclosure: No positions at time of writing.