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EUFX

AdvisorShares, one of the largest issuers of active ETFs, made another addition to its lineup this week with the debut of a fund that will seek to capture results of long/short hedge fund managers. The new QAM Equity Hedge ETF (QEH) will employ an active long/short strategy that will seek to outperform about half of the long/short equity hedge fund universe that makes up the HFRI Equity Hedge Index. That benchmark includes a number of long/short hedge funds who report their results monthly to HFRI; QEH will effectively attempt to match the performance of that universe, which would result in outperforming about half of the component managers. 

It should be noted that the universe of component hedge funds doesn’t necessarily include only market neutral strategies; many hedge funds who report results to HFRI are net long–and often more than 50% net long. QEH will seek to deliver better risk adjusted returns relative to the S&P 500 over time while also delivering lower volatility. For investors without the ability to invest directly in hedge funds–which often have significant expenses and lofty minimums–QEH offers a way to mimic these approaches in a liquid, transparent wrapper. 

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This shortened trading week has shaped out to be fairly kind to equity markets as major indexes on Wall Street have settled into green territory. Despite the positive price action, economic data releases remain mixed on the homefront; ISM data came in weaker than expected on Monday morning, while positive factory orders and better-than-expected motor vehicle sales stole the headlines on Tuesday. Activity on the product development was fairly quiet, with ProShares debuting the much anticipated Short Euro (EUFX), and First Trust and Pyxis both gearing up to add to their own product lineups [see also How To Trade Natural Gas Futures: UNG And Beyond].

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Filling in what had become one of the most glaring holes in the ETF lineup, ProShares last week introduced a product that will allow investors to bet against the beleaguered currency of the Euro zone. The new ProShares Short Euro (EUFX) will seek to deliver daily returns that correspond to -100% of the daily change in the […]

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June saw yet another period of strong growth in the ETF lineup, with multiple issuers rolling out new products over the past several weeks. While the pace has certainly slowed from the winter months, there is no shortage of new activity in the space, including a number of first-to-market products that are now hitting the […]

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