ETF News & Commentary
SAN DIEGO (ETFguide.com) - ALPS Advisors has just introduced the Jefferies TR/J CRB Global Agriculture Equity Index Fund (NYSEArca: CRBA) and the Jefferies TR/J CRB Global Industrial Metals Equity Index Fund (NYSEArca: CRBI).
CRBA is benchmarked to the Thomson Reuters/Jefferies CRB In-The-Ground Global Agriculture Equity Index, which selects from a global universe of publicly traded companies engaged in the production and distribution of agricultural commodities and services. The sub-sectors include producers of seeds, traits (seed characteristics attained through genetic modification), chemicals and fertilizers, farm machinery, equipment and irrigation, agricultural products, and livestock and aquaculture.
CRBI is linked to the Thomson Reuters/Jefferies CRB In-The-Ground Global Industrial Metals Equity Index, which follows global companies engaged in the production and distribution of base and/or industrial metals and related products and services in the following sectors: aluminum, steel, uranium, and diversified metals and mining.
Both underlying indexes for the ETFs are modified market cap weighted and float adjusted. Index holdings are rebalanced quarterly and revised annually in June.
Each of the TR/J ETFs charge annual expenses of 0.65%.
--Other Product Launches
The OOK, Inc. ETF (NYSEArca: OOK) began trading yesterday and follows publicly traded companies that have their principal place of business in Oklahoma or that generate a significant portion of their revenues in Oklahoma. OOK contains 29 stocks and charges 0.85% annually. The fund’s investment advisor is OOK Advisors.
Another new launch is the UBS E-TRACS Dow Jones-UBS Commodity Index Total Return ETN (NYSEArca: DJCI). The notes are issued by UBS AG and are linked to the DJ-UBS Commodity Index Total Return.
The Index is composed of the prices of nineteen exchange-traded futures contracts on physical commodities. Its overall return is generated by two components: 1) The unleveraged returns on futures contracts on the physical commodities comprising the DJ-UBS Commodity Index and 2) The returns that correspond to the weekly announced interest rate for
specified 3-month U.S. Treasury Bills.
Unlike ETFs, ETNs are debt securities that carry credit risk of the underlying issuer. Currently, there’s 83 U.S. listed ETNs with roughly $7 billion in assets.
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