In a departure from its major investment theme, United States Commodity Funds has launched a factor based or smart beta restaurant sector-specific exchange traded fund.
On Tuesday, United States Commodity Funds rolled out the USCF Restaurant Leaders Fund (NYSEArca: MENU). MENU has a 0.65% net expense ratio.
“MENU expands USCF’s equity product line and ties in with our well-known commodity line by giving investors access to commodities from an alternative vantage point – that of the end user,” John Love, President and Chief Executive Officer of USCF, said in a press release. “The restaurant universe consists of companies that we all know and frequent, and we hope MENU appeals to a broad range of investors. Professionals in the restaurant business may find MENU particularly interesting as they seek alternative ways to gain or hedge exposure to their own industry.”
MENU tries to reflect the performance of the Restaurant Leaders INDXX Index, which is comprised of restaurant companies and screens components based on two quantitative screens and two dynamic screens to identity leaders that are outperforming or expected to outperform their industry peers.