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September 18, 2015 at 11:39 AM
New products and changes introduced over the last week include a pair of ETFs from State Street Global Advisors, four ETFs from Direxion and an income annuity from New York Life.
On the digital front, shareholder advocacy nonprofit As You Sow debuted a tool that reveals a portfolio’s exposure to fossil fuel investments and MassMutual redesigned its Website to be more consumer friendly.
There were also new strategic relationships announced between OppenheimerFunds and Apollo Credit Management and between Docupace Technologies and Foliodynamix.
Here are the latest developments of interest to advisors:
1) State Street Adds Two ETFs
State Street Global Advisors launched two currency-hedged SPDR ETFs: the SPDR MSCI International Real Estate Currency Hedged ETF (HREX) and the SPDR S&P International Dividend Currency Hedged ETF (HDWX).
HREX seeks to track the performance of the MSCI World ex USA IMI Core Real Estate Capped 100% Hedged to USD Index. This index is designed to reflect the performance of stocks in the MSCI World ex USA IMI Index that are engaged in the ownership, development and management of specific core real estate property types while minimizing exposure to fluctuations in foreign currencies.
HDWX seeks to track the performance of the S&P International Dividend Opportunities USD Hedged Index. This index is designed to represent the performance of the 100 highest dividend-yielding common stocks and ADRs listed in primary exchanges of countries included in the S&P Global BMI ex US (Broad Market Index) while minimizing exposure to fluctuations in foreign currencies.
2) Direxion Launches Four ETFs
Direxion launched four new leveraged ETFs that provide 2X Bull and Bear exposure to cybersecurity and pharmaceuticals.
The Direxion Daily Cyber Security Bull (HAKK) and Bear (HAKD) 2X Shares seek to achieve 200% and 200% of the inverse, respectively, of the daily performance of the ISE Cyber Security Index.
The Direxion Daily Pharmaceutical & Medical Bull (PILL) and Bear (PILS) 2X Shares seek to achieve 200% and 200% of the inverse, respectively, of the daily performance of the Dynamic Pharmaceutical Intellidex Index.
3) New York Life Adds Income Annuity
New York Life introduced its Mutual Income annuity, which offers clients the opportunity to directly participate in the company’s mutual structure. The firm also expanded its income annuity options available on tax-qualified savings.
