ETF Database » TXF

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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Oklahoma ETF, Texas ETF To Shut Down

Michael Johnston — Wed, 15 Sep 2010 15:00:38 +0000

Geary Advisors, the firm that last year pioneered state-specific ETFs, has announced that it will close down the Oklahoma Exchange-Traded Fund (OOK) and Texas Exchange-Traded Fund (TXF) by the end of the month. Both funds launched in late 2009, but despite impressive performances struggled to build up assets and trading volumes. OOK seeks to replicate the SPADE Oklahoma Index, a benchmark consisting of publicly-traded companies whose corporate headquarters are located in Oklahoma or who maintain significant operations within Oklahoma. Though OOK’s assets are spread across a number of sectors, the fund maintains a heavy tilt towards firms engaged in the transport of natural gas. That made it an intriguing option for playing that corner of the energy market, but assets were slow to accumulate [see How To Survive An ETF Liquidation]. Similarly, TXF is linked to a benchmark, the SPADE Texas Index, that consists of companies headquartered in Texas. Not [...]

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ETF Price Wars? Schwab Slashes Expense Ratios

Michael Johnston — Tue, 15 Jun 2010 09:00:16 +0000

Charles Schwab may be a relative newcomer to the exchange-traded fund game, but the San Francisco-based firm has made quite a splash since wading into the ETF waters late last year. On Monday, Schwab shook up the industry again, announcing that it was reducing the expense ratios on six ETFs, or three quarters of its existing product line. Each of the ETFs impacted by the changes now features the lowest expense ratio in its ETFdb Category: Ticker Expense Ratio ETFdb Category ETFdb Category Average SCHB 0.06% All Cap Equities 0.34% SCHG 0.13% Large Cap Growth 0.41% SCHV 0.13% Large Cap Value 0.40% SCHA 0.13% Small Cap Blend 0.44% SCHF 0.13% Foreign Large Cap 0.49% SCHE 0.25% Emerging Markets 0.68% The two Schwab product maintaining their current expense ratios are the U.S. Large Cap ETF (SCHX, 0.08%) and the International Small Cap Equity ETF (SCHC, 0.35%). Schwab’s reputation for low costs [...]

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Closer Look At The Texas ETF (TXF)

Michael Johnston — Thu, 03 Jun 2010 14:34:49 +0000

From a certain perspective, the ETF space shows the signs not of a still-nascent industry, but of a mature corner of the investing world. For the better part of a decade, the industry totem pole has remained unchanged, with four big firms accounting for nearly 90% of all ETF assets. But a closer look reveals that quite a bit has changed in recent years, as the number of players in the ETF game has grown significantly. None of these start-ups are a real threat to challenge the iShares and State Streets of the world, but many have experienced success in carving out a niche of more targeted products. The number of exchange-traded products available to U.S. investors has climbed steadily towards 1,000, with the expansion occurring largely as the result of innovation, not duplication. Instead of a wave of identical S&P 500 ETFs (there are still only two), the growth [...]

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Checking In On Ten Major ETF Launches From 2009

Michael Johnston — Thu, 04 Feb 2010 19:15:20 +0000

Last year saw more than 100 new product launches, ranging from plain vanilla equity and bond funds to ETFs offering exposure to exotic new investment strategies and asset classes previously available only to a limited slice of the investing community. The innovation that has made ETFs a popular alternative to mutual funds seems ready to continue through2010. Based on discussions with industry executives and others covering the industry, it seems like a safe bet that 2010 will shatter existing records for new ETF launches. But there has also been some concern over saturation in the ETF industry, as well more than 100 funds currently have less than $10 million in assets. Hype around the launch of new products doesn’t always translate into sustained investor demand. While many investors and advisors are looking forward to some of the exciting products in the pipeline for 2010, we take a look back, checking [...]

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Talking OOK, TXF, And All Things ETF With Keith Geary

Michael Johnston — Mon, 18 Jan 2010 13:17:46 +0000

Keith Geary is the chairman, president, and CEO of The Geary Companies, an Oklahoma-based financial services firm. Geary Advisors recently launched the Texas Large Companies Exchange-Traded Fund (TXF) and Oklahoma ETF (OOK), the first state-specific equity ETFs available to U.S. investors. He recently took time out of his busy schedule to talk about his firm’s products with ETF Database. ETF Database (ETFdb): Geary Advisors recently launched two ETFs — tell us about how you came up with the idea for OOK and TXF. Keith Geary (KG): Every year between Thanksgiving and Christmas, Geary Securities runs a program that we call “Give OK Stocks As Gifts.” It started out as a discussion between my wife and I, talking about how so many parents spend $300 on a Nintendo or X-Box for their kids, and five years later they’re completely outdated or in the trash. So we thought: if these parents had [...]

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Low Cost ETFs: Complete List Of The Cheapest Exchange-Traded Funds

Michael Johnston — Wed, 16 Dec 2009 18:15:04 +0000

The reasons for the rise of the ETF industry are numerous: intraday liquidity, (potentially) superior tax efficiency, and enhanced transparency relative to traditional actively-managed mutual funds have all contributed to the billions of dollars of inflows that these funds have seen in recent years. But the real attraction for most ETF investors is the reduced expenses these products offer, often only a fraction of the fees charged by mutual funds. But between ETFs, expense ratios can vary significantly, ranging from 0.08% (for several Schwab ETFs) to a whopping 1.50% (for the DENT actively-managed ETF). For investors looking to minimize expenses and pursue an indexing strategy in favor of active management, investing in ETFs is only the first step. In order to assist cost-conscious investors, we’ve assembled the cheapest ETF options for almost every asset class and sub-asset class. Each of the 900-plus ETFs currently included in the ETF Screener were [...]

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November ETF Roundup: Launches, Filings, and Closures

Michael Johnston — Wed, 02 Dec 2009 16:19:26 +0000

The ETF industry picked up steam in November, with several highly-anticipated funds coming to market and multiple issuers disclosing new details on innovative products that could be launched in 2010. The biggest news for the month was the entrance of Charles Schwab into the industry with the launch of four ETFs in early November. Debuting with a competitive cost structure, Schwab has made big inroads in the ETF industry already, racking up almost $150 million in assets already. But Schwab’s arrival was hardly the extent of the new developments in the ETF industry for November. Other highlights include: PIMCO continues to be extremely active, opening the month with the launch of two new Treasury ETFs (ZROZ and FIVZ) to complement existing products (TENZ and TUZ). In mid-November, the bond fund giant launched its first actively-managed short maturity ETF, MINT. The company closed out November with its second actively-managed ETF, MUNI. [...]

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Texas, Oklahoma ETFs Slash Expense Ratios

Michael Johnston — Wed, 18 Nov 2009 14:57:50 +0000

Oklahoma City-based Geary Advisors, LLC announced today that they are in the process of reducing the fund fees for their two state-specific ETFs, including the TXF Large Companies Exchange-Traded Fund (TXF) and the Oklahoma Exchange-Traded Fund (OOK). When these ETFs were initially launched (OOK in late October and TXF in early November), both charged fees of 85 basis points, making them significantly more expensive than most large cap domestic funds. Following the significant reduction, the state-specific ETFs will be competitive with both broad-based large cap ETFs and sector-specific energy funds. Following the change, both OOK and TXF will be cheaper than the SPDR Energy Select Sector Fund (XLE), which charges an expense ratio of 21 basis points. “I believe these funds are excellent way to invest in Oklahoma and Texas companies, many of which are related to the energy sector,” said Keith Geary of Geary Advisors. “We are in the [...]

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Texas ETF Launches: Will Investors Flinch Over Fees?

Michael Johnston — Thu, 05 Nov 2009 15:27:10 +0000

OOK Advisors announced the launch of its second exchange-traded fund on Wednesday as the TXF Large Companies Exchange-Traded Fund (TXF) began trading on the NYSE Arca Exchange. The new fund will track the SPADE Texas Index, a benchmark designed to measure the performance of the largest companies headquartered in the state. The index is up about 30% year-to-date, and has outperformed broader market indexes in recent years. The Texas Index includes about 85 stocks that represent 90% of the market capitalization of companies headquartered in Texas. Not surprisingly, energy companies have a big allocation in the portfolio, including firms such as ConocoPhillips (5.5%), Exxon Mobil (5.0%), and Schlumberger (5.3%). But there is a lot more to the index and the ETF than just energy firms. Other holdings include Southwest, Burlington Northern, Whole Foods, AT&T, Dell, and DR Horton. TXF joins the OOK Oklahoma ETF (OOK) as the only state-specific ETFs [...]

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ETF Database » TXF

September ETF Roundup: Launches, Filings, and Closures

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