The ALPS Alerian MLP ETF (AMLP) has been one of the most successful new products to hit the market in recent months, accumulating assets of more than $350 million in less than three months of operation. While the tremendous cash inflows reflect an overwhelmingly positive reception to AMLP, the new fund has also started a debate over the merits of various product structures through which exposure to the MLP sector can be achieved. Some of the discussions on the MLP space have been constructive, creating a better understanding of the impact that different structures can have on total returns. But some of what’s been written about the MLP space–and AMLP in particular–has been misleading or just plain wrong [see New ETFs Grow Up Fast]. [click to continue…]
Continuing its push for dominance in the MLP space, UBS announced this week the launch of the E-TRACS Wells Fargo MLP Index ETN (MLPW). The new exchange-traded note will be linked to the Wells Fargo Master Limited Partnership Index, a float adjusted, capitalization weighted benchmark that seeks to measure the performance of all energy master [...]
Innovation throughout the ETF industry has been one of the primary themes of recent years, but perhaps no corner of the market has seen more progress on the product development front than the commodity space. U.S. investors now have the ability to invest in dozens of natural resources, primarily through exchange-traded funds than consist of [...]
The relatively short history of the ETF industry has witnessed both predictable failures and unexpected successes. The hyper-targeted HealthShares line of ETFs seemed like an ill-conceived idea from day one, and few were surprised when the plug was repeatedly pulled on various iterations of the MacroShares products [see ETF Hall Of Shame: Nine Exchange-Traded Debacles]. [...]
JPMorgan, the financial behemoth responsible for the first exchange-traded product offering exposure to the MLP sector, expanded its ETN lineup on Tuesday by introducing two products offering inverse leveraged exposure to Treasuries. The new ETNs, the Double Short U.S. Long Bond Treasury Futures ETN (DSTJ) and the Double Short U.S. 10 Year Treasury Futures ETN [...]
The red hot energy MLP space continues to heat up, with ALPS announcing today the launch of the first exchange-traded fund offering exposure to Master Limited Partnerships that earn the majority of their cash flows from the transportation, storage, and processing of energy commodities. The Alerian MLP ETF (AMLP) will seek to replicate the performance [...]
The floodgates are officially open. Since JP Morgan’s Alerian MLP Index ETN (AMJ) became a smash hit with investors, a number of other issuers have entered into the space, providing more and more options for accessing a unique corner of the domestic energy market. UBS has been particularly active, introducing the Alerian MLP Infrastructure ETN [...]
Bethesda, Maryland-based AdvisorShares announced today the launch of the Mars Hill Global Relative Value ETF (GRV), the second ETF product from the company. The new ETF will be actively-managed; instead of seeking to replicate the performance of a particular benchmark, GRV will attempt to generate consistent positive returns in excess of the average annual return [...]
Perhaps no corner of the ETF market has exploded in recent years quite as quickly as the MLP space. JP Morgan launched the Alerian MLP Index ETN (AMJ) in early 2009, and the fund quickly attracted more than $1 billion in assets [see Most Successful New ETFs Of 2009]. UBS followed earlier this year, offering [...]
The last several years have seen a rapid expansion of the ETF universe, with hundreds of new product launches offering exposure to an increasing number of asset classes, investment strategies, and corners of the globe. The initial success of these new products has been all over the board; some have struggled mightily to gain traction [...]
Few would argue that the impressive arrival of ETFs over the last several years has permanently changed the investment landscape. The attractive expense profile of these securities often gets the most attention; the relatively low expense ratios offered have caused investors to rethink the merits of traditional mutual funds, as investors have embraced passive indexing [...]
