Global X filed with the U.S. Securities and Exchange Commission with more details about its upcoming international oil exchange traded fund (ETF). The filing is being taken to mean that the fund could launch soon.
Global X Oil Equities ETF (NYSEArca: XOIL) will have a 0.49% expense ratio and will track an index of international oil companies whose returns have historically been correlated with the price of oil, reports Devin Riley for Index Universe.
Oil prices have shot up in recent weeks, topping $100 a barrel last week, as conflicts in the Middle East intensify.
Tisha Guerrero contributed to this article.
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