Despite a long, drawn-out recession and slower consumer spending, the luxury exchange traded fund (ETF) has been one of the best-performing retail ETFs so far this year. That’s why it’s a shame to bid it adieu.
The luxury consumer is a rarefied group, willing to spend top dollar on the best. It’s been said throughout the recession that it’s these consumers who will make up the difference for the lower spending levels among less wealthy Americans.
Don Dion for The Street says it’s a shame that Claymore’s luxury ETF – Claymore/Robb Report Global Luxury Index ETF (NYSEArca: ROB) – will cease trading on Sept. 10, because it was a good idea that targeted an interesting niche. We agree.
If you’re looking for exposure to luxury shoppers now, there are some bets, though none that offer as much of a pure play as ROB did. [Claymore Calls It Quits For Luxury ETF.]