Factor Advisors launched three new equity ETFs that invest in stocks linked to gemstones and metals mining.
The introduction of the PureFunds ISE Diamond/Gemstone ETF (GEMS), PureFunds ISE Mining Service ETF (MSXX) and PureFunds ISE Junior Silver ETF (SILJ) comes at a time when interest in precious metals is high.
GEMS invests in the largest and most liquid companies that are actively engaged in the gemstone industry, including companies that produce, explore and sell gemstones.
MSXX is focused on the largest and most liquid companies that facilitate the operations of the mining services industry, including companies that make, lease or sell equipment, and companies engaged in exploration and extraction.
SILJ is linked to the ISE Junior Silver Small Cap Miners/Explorers Index and invests in small-capitalization companies that are engaged in the silver industry, including companies that mine, explore or refine silver.
The ETFs are listed on the NYSE Arca and Factor Advisors serves as the investment advisor for the Funds while PureFunds serves as the business manager. All the funds have annual expense ratios of 0.69%