Volatility has returned to Wall Street as the political gridlock in Greece has re-focused investors’ attention on the looming debt crisis overseas. With economic uncertainties spilling over on the home front, investors have also been prompted to reevaluate the health of the domestic recovery, which according to the latest Fed minutes is still sluggish at best. Amidst the flurry of trading on Wall Street, activity on the product development front has been quiet as no new ETFs launched this week [see also 12 High-Yielding Monthly Distribution Bond ETFs].
With no new ETF filings as well, below we take a look at some noteworthy headlines from around the industry [see also 3 ETF Trading Tips You Are Missing]:
Van Eck Launches New Indexes
New York-based industry veteran Van Eck continues to expand its lineup of indexes with its most recent launch of four proprietary benchmarks. This release showcases Van Eck’s self-indexing approach, as the issuer plans to switch over a number of its funds to in-house indexes. The issuer recently switched the underlying index for the Market Vectors Russia ETF (RSX) from the DAXglobal Russia+ Index to the self-sponsored Market Vectors Russia Index. The new indexes include:
- Market Vectors Global Gaming Index (this is expected to replace BJK’s current index)
- Market Vectors Global Steel Index (this is expected to replace SLX’s current index)
- Market Vectors Global Coal Index (this is expected to replace KOL’s current index)
- Market Vectors Global Chemical Index (this is expected to be underlying index for the recently proposed Van Eck Global Chemicals ETF)
Barclays Capital Is No More
Industry bellwether Barclays has officially dropped the “Capital” from its previous well-known brand “Barclays Capital”. What does this mean for ETFs currently linked to Barclays-sponsored indexes? Not a whole lot. Luckily, this re-naming won’t affect the Barlcays indexes in any real way, besides giving them a shorter title. Waqas Samad, head of Index, Portfolio, and Risk Solutions at Barclays, commented, “Rest assured that the indices will not be changing in any other respect as a result of this name change, and we will be working closely with our clients and partners to ensure a smooth transition for the branding of index-linked products” [see Hitchhiker's Guide To The ETF Galaxy].
Follow me on Twitter @SBojinov
[For more ETF analysis, make sure to sign up for our free ETF newsletter or try a free seven day trial to ETFdb Pro]
Disclosure: No positions at time of writing.
ETF Database is not an investment advisor, and any content published by ETF Database does not constitute individual investment advice. The opinions offered herein are not personalized recommendations to buy, sell or hold securities. From time to time, issuers of exchange-traded products mentioned herein may place paid advertisements with ETF Database. All content on ETF Database is produced independently of any advertising relationships. Read the full disclaimer here.
Are you enjoying ETF Database?
Get more articles like this one via our free daily e-mail newsletter or RSS feed.
Get access to special reports including How To Pick The Right ETF Every Time and Seven Simple & Cheap ETF Model Portfolios.
