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July 20, 2012 at 11:39 AM
New products introduced over the last week include a new fund from Motley Fool; a new Market Vectors ETF that excludes financials; and a new ETF from Global X.
In addition, OppenheimerFunds announced that it will acquire SteelPath; Capital IQ chose 3 ETFs for Japan exposure; and Schwab marked the 20-year anniversary of its OneSource mutual fund platform with a report on its history.
Here are the latest developments of interest to advisors:
1) First Motley Fool Fund Debuts with Five-Star Overall Morningstar Rating
The Motley Fool Independence Fund (FOOLX)—the first fund created by Motley Fool Asset Management—has debuted with a five-star overall Morningstar rating. Based on risk-adjusted performance, FOOLX, a world stock fund, has delivered 15.22% annualized returns since inception, beating the MSCI’s return of 11.61% as of June 30.
FOOLX starts with a long-term value-investing approach and includes a fulcrum fee.
2) Market Vectors Launches ETF Excluding Financials (PFXF)
Market Vectors ETF Trust announced Tuesday that it has launched Market Vectors Preferred Securities ex Financials ETF (PFXF), designed to offer investors access to the income potential of preferred securities without the volatility of financials. Among preferred securities-focused ETFs listed in the U.S., PFXF has the lowest published net expense ratio at the time of launch. PFXF has a gross expense ratio of 0.52% and a net expense ratio of 0.40%, which is capped at least until Sept. 1, 2013. Cap excludes certain expenses, such as interest.
PFXF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Wells Fargo Hybrid and Preferred Securities ex Financials Index (WHPSL), a rules-based index intended to track the overall performance of publicly traded nonfinancial preferred securities, including securities that, in Wells Fargo Securities’ judgment, are functionally equivalent to preferred securities such as convertible securities, depository preferred securities and perpetual subordinated debt.
3) Global X Funds Launches SuperIncome Preferred ETF
Global X Funds launched the Global X SuperIncome Preferred ETF (SPFF) on Tuesday. It is designed to track 50 of the highest-yielding preferred securities in North America.
