The Highland HFR Global ETF benchmarks to HFRL Global Index. That new ETF can also hold bonds and equities of global and U.S. companies. The Highland HFR Global ETF’s strategies may include but are not limited to event-driven, long/short equity, macro, relative value and other strategies commonly used by hedge fund managers,” according to the issuer.

All three new Highland ETFs came to market with $10 million in assets and each charges 0.85% per year.

Hedge fund ETFs have become popular with investors that are attracted to the idea of hedge fund investing without the high fees. Between 2008 and 2014, the alternative mutual funds and ETFs space expanded from 482 products to 1,569, with assets growing to $309 billion from $42.6 billion. [Hire Your Own Hedge Fund With ETFs]

Some hedge fund ETFs use macro, event-driven and other hedge fund strategies while others simply hold stocks that are widely held within the hedge fund community.

The Highland iBoxx Senior Loan ETF, Highland’s first ETF, has $321.6 million in assets under management. Highland is planning 14 more new ETF introductions after the three funds it launched today.

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