May 23, 2008 at 2:00 pm by Tom Lydon
So far, 2008 has been an interesting year for exchange traded funds (ETFs).
Between Dec. 28, 2007, and May 16 of this year, 50 new ETFs have launched. Matthew Hougan for Index Universe counts three of them as "major successes," defined by him as having $100 million or more in assets:
- WisdomTree India Earnings (EPI): $267 million in assets; down 11.7% since Feb. 26 launch
- Market Vectors Coal (KOL): $237 million; up 30.6% since Jan. 15 launch
- Claymore/Mac Global Solar Energy (TAN): $116 million; up 10.5% since April 15 launch
Many of the newer ETFs cover areas of the market that have been untapped and/or offer new strategies.
Bear Stearns Current Yield Fund (YYY) was the first actively managed ETF to hit the market. EPI India fund benefits investors because it was the first of its kind to market and covers an area that was in high demand by investors.
Coal and solar are both new and growing asset classes which take advantage of the search for new energy sources, a topic that is at the forefront of many people’s minds at the moment.
For the full list of new funds ranked by assets, check out the link above!
May 27th, 2008 at 8:00 am
thanks for all the information