Global X is simplifying the moniker of its hedge-fund replicating exchange traded fund as the provider files to expand a line of hedge fund “Guru” ETFs.
The Global X Guru Index ETF (NYSEArca GURU), formerly known as the Global X Top Guru Index Holdings Index Fund, began trading under the new appellation Monday, according to a SEC filing.
The GURU ETF tries to reflect the performance of the Solactive Guru Index, which is comprised of the top U.S.-listed equity positions reported on Form 13F by a select group of hedge funds. [ETF Spotlight: Top Hedge Fund Guru Holdings]
The SEC Form 13F, or Information Required of Institutional Investment Managers Form, is a quarterly filing required of institutional managers with over $100 million in qualifying assets. The filing contains information on the manager’s list of recent investing holdings, which provide the public a glimpse of how the heavy weights are moving around the changing markets. [Hedge Fund ETF Tops $500M in Assets]
However, since GURU’s holdings are based on numbers from the previous quarter, the ETF’s positions may become stale in a quickly changing market.
GURU has outperformed the broader market, gaining 39.3% year-to-date, compared to the 25.5% rise in the S&P 500 index.