Northern Trust has added to its lineup of internationally focused ETFs by introducing the NETS FTSE CNBC Global 300 Index Fund ETF (MYG).
The new fund follows a broad basket of 300 global stocks and is calculated by the FTSE Group.
Exxon Mobil, Proctor & Gamble and Microsoft are the fund’s three largest stock holdings. Industry sectors with the largest representation within the fund are financials, energy and consumer goods.
Up until now, most of Northern Trust’s ETFs have been focused on the equity markets of single countries, or niche sectors like real estate.
The fund’s underlying index selects stocks with a passive strategy and weights each company by its market capitalization or size. All of the holdings are reconstituted annually.
MYG is the 17th Northern Trust ETF and it will charge annual expenses of 0.43 percent.
“We are pleased to welcome the FTSE CNBC Global 300 ETF to NYSE Arca,” says Lisa Dallmer, senior vice president of global exchange-traded products and indexes at NYSE Euronext.
The NETS FTSE CNBC Global 300 ETF will compete with other funds in its same category like the Vanguard Total World Stock ETF (VT) and the iShares MSCI AWCI Index Fund (ACWI). Each of the latter ETFs charge annual expenses of 0.25 and 0.35 percent.
Ron DeLegge is the San Diego-based editor of www.etfguide.com.