New JETS ETF Rests On Contrarian Strategy
January 20th at 1:00am by Tom Lydon
Javelin is seeking approval for a new type of exchange traded fund (ETF) that picks securities based on contrarian investment principles.
As a contrarian fund, the ETF would invest in names that have under-performed in recent years, but that have strong fundamentals relative to other companies in the same space.
The JETS Contrarian Opportunities Index Fund will list on the NYSE Arca, and will track the Dow Jones U.S. Contrarian Opportunities Index, which invests in securities of public companies that are “temporarily out of favor,” says Cinthia Murphy for Index Universe.
The largest sectors represented are consumer goods, technology, oil and gas, and will rebalance quarterly.
Javelin also offers the JETS Dow Jones Islamic Market International Index Fund (NYSEArca: JVS), which began trading last summer. [Shariah ETFs are a growing market.]
For more stories about new ETFs, visit our new ETFs category.
