ETF Database » JVS

Javelin To Shut Down Contrarian ETF (JCO)

Michael Johnston — Wed, 14 Sep 2011 11:00:46 +0000

Javelin announced on Tuesday that the last day for trading in its JETS Contrarian Opportunities Index Fund (JCO) will be September 29, citing a failure to attract sufficient assets and investor interest as the cause for the termination of the company’s only ETF. “With many investors looking for new investing tools, we believe that contrarian and other investment styles will eventually be well represented in the ETF market,” said Javelin president and founder Brint Frith in a notice on the company’s Web site. “We look forward to building on our experience.” Shareholders remaining in the fund as of September 29 will have their shares automatically redeemed on October 11, the last day of operations for JCO. The fund, which debuted in April 2010, recently had assets of about $5 million. JCO sought to replicate the Dow Jones U.S. Contrarian Opportunities Index, a benchmark that was constructed to select stocks consistent [...]

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PowerShares To Close 10 ETFs

Michael Johnston — Mon, 11 Oct 2010 11:00:56 +0000

PowerShares, the Wheaton, Illinois-based ETF issuer known for its QQQ fund and line of products linked to “intelligent” benchmarks, announced late last week that it will shut down several ETFs before the end of the year. December 14 will be the last day of trading for ten PowerShares ETFs: PowerShares Dynamic Healthcare Services Portfolio (PTJ) PowerShares Dynamic Telecommunications & Wireless Portfolio (PTE) PowerShares FTSE NASDAQ Small Cap Portfolio (PQSC) PowerShares FTSE RAFI Europe Portfolio (PEF) PowerShares FTSE RAFI Japan Portfolio (PJO) PowerShares Global Biotech Portfolio (PBTQ) PowerShares Global Progressive Transportation Portfolio (PTRP) PowerShares NASDAQ-100 BuyWrite Portfolio (PQBW) PowerShares NXQ Portfolio (PNXQ) PowerShares Zacks Small Cap Portfolio (PZJ) “We regularly review portfolios carefully evaluating numerous factors such as investment results, length of time in the market, investor interest, and the potential for future growth,” said Ben Fulton, Invesco PowerShares managing director of global ETFs, in a press release. “Based on this [...]

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September ETF Roundup: Launches, Filings, and Closures

Jared Cummans — Fri, 01 Oct 2010 11:00:06 +0000

The month of September brought an unexpected but very welcome rally in stock markets, as many equity ETFs enjoyed their best month of the year. September also set a number of records from the product development perspective in the ETF industry; more than two dozen new funds from a handful of different issuers hit the market, and the month’s additions had pulled in aggregate assets of nearly $300 million by month end. The month also saw Claymore rebranded under the Guggenheim name, as well as the departure from the ETF industry of two issuers, Geary and GlobalShares [see more at Claymore Changes Name To Guggenheim Funds]. In total 27 new ETFs were born in September, covering a wide variety of markets, asset classes, and investment strategies. The net increase in the ETF lineup, however, was only 19, as three different issuers announced the closing of eight ETFs in aggregate. New [...]

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Javelin Plans To Shutter Shari’ah Compliant ETF

Michael Johnston — Fri, 17 Sep 2010 19:09:03 +0000

Javelin Exchange Traded Shares, the New Jersey-based issuer that jumped into the ETF game in 2009, ha announced that it will shut down the Dow Jones Islamic Market International Index Fund (JVS). The fund, which began trading in July 2009, had been slow to gather assets and build up trading volume. October 19, 2010 will be the final day of trading for JVS. JVS sought to provide an ETF option for investors looking to implement strategies consistent with Shari’ah, or Islamic law. Such a strategy excludes businesses involved in conventional financial services (such as banking or insurance), as well as alcohol, gambling, pornography, tobacco, and pork-related food products. “With over seven million Muslims in the United States, we believe that Shariah-based investing has a promising future,” said Javelin president and founder Brint Frith, “but we found it difficult to reach target investors through the marketing channels typically used by ETFs.” [...]

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Losing Faith In The Market? Try These ETFs

Jared Cummans — Fri, 30 Jul 2010 13:50:20 +0000

Recent years have seen a tremendous expansion of the ETF universe, in terms of both the number of products and total assets. Though the majority of ETF assets are still in domestic equity funds, the bulk of the innovation has taken place in other corners of the market; options for fixed income and commodity exposure have multiplied, and the level of granularity available through international equity products has been enhanced considerably. But the last few years have also witnessed a significant increase in options for less ‘sexy’ components of the portfolio. A number of relatively new products offer unique spins on domestic equity exposure, ranging from products that implement alternative weighting strategies to those that utilize screening methodologies to identify components of larger equity universes expected to outperform their peers [see a full list of quantitative methodology funds at our ETFdb category, Quantitative Methodology Indexes ETFs]. FaithShares Method Oklahoma City-based [...]

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This Week in ETFs: April 16th Edition

Seth Dowling — Fri, 16 Apr 2010 21:03:36 +0000

A number of winning streaks came to a halt on Friday, as a generally solid start to earnings season was overshadowed by reports of fraudulent behavior at Goldman Sachs. Financial ETFs plummeted on Friday as anxiety over the regulatory backlash sent the sector sharply lower. Markets will look to another wave or earnings reports next week, as investors continue to gauge the fallout at Goldman and determine the long-term ramifications. Below, we present our picks for the best ETF articles from around the Web over the last week: Greenwich Associates Study Shows Huge ETF Upside at IndexUniverse Could ETFs double in size over the next two years? Matt Hougan thinks such a growth rate might not be all that far-fetched. After analyzing a recent research report from Greenwich Associates, an institutional financial services consulting and research firm, Hougan notes that the usage rate of ETFs among institutions is surprisingly low. The report, which [...]

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Javelin Funds Launches Contrarian ETF (JCO)

Eric Dutram — Fri, 09 Apr 2010 20:23:52 +0000

Javelin Funds, known as a pioneer of Shariah compliant ETF investing, has launched its second fund, the JETS Contrarian Opportunities Index Fund (JCO). The new fund seeks to provide exposure to stocks that appear to be temporarily out of favor but have relatively strong fundamentals (also see Five ETF Ideas For Contrarian Investors). JCO will seek to replicate the performance of the Dow Jones U.S. Contrarian Opportunities Index, an equal weighted index consisting of 125 U.S. securities. Stocks are chosen semiannually from a broad market universe screened to identify securities ranked lowest by three-year trailing total return performance. From this pool of eligible securities, stocks are selected according to rankings by ten qualitative factors. “This fund advances the concept of index-based investing,” says Javelin president and founder Brint Frith. “Index funds often apply only quantitative criteria, such as market capitalization. The result can be a crudely-defined portfolio that makes no [...]

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ETFs Reveal The One True Religion

Michael Johnston — Fri, 02 Apr 2010 06:00:28 +0000

In recent years, ETFs have been the ultimate growth industry. In 2009 more than 120 new products hit the market, and the first quarter of 2010 saw nearly 60 new launches. While some of these new products are “plain vanilla” funds competing directly with existing ETFs, the bulk of expansion in the space has been attributable to innovation, not duplication. The universe of accessible asset classes has been expanding while the granularity of exposure available has also surged. Hedge fund replication ETFs, sector-specific China and emerging markets funds, state-specific products, and volatility ETNs are just a few of the numerous new developments in the ETF space. Another interesting innovation in the ETF industry is the development of faith-based funds. A handful of these ETFs have popped up over the last year, each seeking to replicate the performance of an index constructed in accordance with guidelines and principles of various religious [...]

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More Shari’ah-Compliant ETFs Coming

Michael Johnston — Wed, 23 Sep 2009 13:36:30 +0000

Index Universe is reporting that two new ETFs meeting the requirements of Shari’ah law could be on the way, including the ShariahShares FTSE USA Fund and the ShariahShares FTSE Developed ex-U.S. Fund. The U.S. fund will reportedly invest in nearly 250 mid- and large-cap companies, while the ex-U.S. Fund will invest in stocks in 25 developed countries around the world. Shari’ah, which means “way”, refers to the body of Islamic religious law, and covers many areas of daily life, including politics, banking, business, and social issues. In order to comply with the law, the proposed ETFs would avoid exposure to non-Islamic banks, as well as insurance, alcohol, firearms, entertainment, and tobacco companies. And the funds also won’t invest in companies that produce pork products. The idea of limiting investments to Shari’ah-compliant companies may seem very restrictive. But most investors will be surprised to learn that the vast majority of publicly-traded [...]

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The End of The Dow Jones Industrial Average?

Michael Johnston — Mon, 24 Aug 2009 13:29:35 +0000

Dow Jones & Co. has begun searching for potential buyers of its stock-market indexing unit, which includes the widely-reported Dow Jones Industrial Average. The unit of Dow Jones, which publishes the Wall Street Journal and was purchased by News Corporation in late 2007, creates and licenses indexes for use by ETFs, mutual funds, and other products. In addition to the storied DJIA, the Dow Jones indexing unit is responsible for the creation and oversight of: Dow Jones U.S. Select REIT Index: Tracked by RWR Dow Jones Global ex-U.S. Select Real Estate Securities Index: Tracked by RWX DowJones-UBS Commodity Index Total Return: Tracked by DJP Dow Jones Islamic Market International Titans 100 IndexSM: Tracked by JVS According to the Wall Street Journal’s Dennis Berman and Jeffrey McCracken, MSCI Inc., a former unit of Morgan Stanley, is one of the leading contenders to purchase the indexing unit. MSCI maintains dozens of indexes, [...]

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ETF Database » JVS

Javelin To Shut Down Contrarian ETF (JCO)

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