Launch Frenzy: 7 New Funds Enter The Ring

by on June 28, 2013 | ETFs Mentioned:

With a flood of strong economic reports coming in this week, the market saw a much needed uplift in returns. The markets finally seem to be stabilizing after a massive Treasury bond sell off last week and many ETF issuers have taken advantage of the strong market to introduce new funds [For more ETF analysis, make sure to sign up for our free ETF newsletter].

New to the ETF universe, YieldShares introduced its first fund at the end of last week:

  • YieldShares High Income ETF (YYY): This unique ETF is comprised of 30 closed-end funds ranked highest overall in three criteria: fund yield, discount to net asset value and liquidity [see How To Invest Overseas Without Currency Risk]. 

VelocityShares has brought out two new volatility hedge funds to compete in this small market:

  • VelocityShares Tail Risk Hedged Large Cap ETF (TRSK) and Volatility Hedged Large Cap (SPXH)Using a portfolio of both equities and VIX futures, TRSK looks to hedge the tail risk that exists in the S&P 500. Much like TRSK, the SPXH also uses a combination of equities and VIX futures, but uses them to disperse any volatility risk that effects the S&P 500 [see 101 High Yield ETFs For Every Dividend Investor].

Oklahoma natives, Exchange Traded Concepts launched its sixth ETF earlier this week:

  • Horizons S&P 500 Covered Call ETF (HSPX): This ETF is built on long positions in the stocks of the S&P 500 Index and corresponding short call options,written out of the money on option-eligible stocks in the S&P 500 Index. 

Direxion added two new funds to its series of country specific bull and bear ETFs:

  • The Direxion Daily Japan Bull 3X Shares (JPNL) and Bear 3X Shares (JPNS): Tied to the MSCI Japan Index, these free floating indexes are designed to exaggerate the performance of the Japanese market through leverage and inverse holdings  [also check out How Broke Is Your State].

Van Eck was the last on the scene this week, introducing the second Israel exclusive ETF:

  • Market Vectors Israel ETF (ISRA): By tracking the performance of the largest and most liquid publicly traded Israeli companies, this ETF hopes to gain exposure to this relatively untouched Middle Eastern country. 

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Disclosure: No positions at time of writing.