New ETFs: Agribusiness and Rare Earths
March 9th at 1:00am by Tom Lydon
On the heels of last week’s launch of the Global X FTSE Argentina 20 (NYSEArca: ARGT) exchange traded fund (ETF), Global X isn’t content to rest on its laurels.
The fast-growing provider has plans to expand into other sectors and areas of the world now, too. Its most recent filings with the Securities and Exchange Commission (SEC) indicate plans to launch a fertilizer/potash ETF, which will track the Solactive Global Fertilizers/Potash Index. Market Vectors Agribusiness (NYSEArca: MOO) will be Global X’s largest competitor in the space.
Global X also has designs on the rare earth metals space, says Benzinga, but Global X will take a two-pronged approach and separate rare earths and strategic metals into two separate ETFs. The fund would compete with the Market Vectors Rare Earth/Strategic Metals (NYSEArca: REMX).
