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Russell Debuts New Lineup of Strategy ETFs
May 20, 2011
SAN DIEGO (ETFguide.com) - Russell Investments introduced a new lineup of ETFs focused on specific investment strategies.
“Having been involved in the ETF industry since its inception through my career, I recognized an opportunity, perhaps unique to Russell, to provide sophisticated ETF products that expand beyond traditional market offerings," said James Polisson, managing director of Russell’s global ETF business.
The company’s first suite called “Russell Investment Discipline ETFs” offer exposure to U.S. large-cap equities across six investment disciplines commonly practiced by professional investment managers.
The suite includes:
--Russell Aggressive Growth ETF (NYSE: AGRG)
--Russell Consistent Growth ETF (NYSE: CONG)
--Russell Growth at a Reasonable Price ETF (NYSE: GRPC)
--Russell Equity Income ETF (NYSE: EQIN)
--Russell Low P/E ETF (NYSE: LWPE)
--Russell Contrarian ETF (NYSE: CNTR)
Each Russell Investment Discipline ETF tracks the performance of a corresponding Russell Investment Discipline Index, which is independently screened and constructed in order to reflect the return patterns of a particular investment strategy.
The Russell Investment Discipline Indexes are constructed from the companies in the Russell 1000 Index, which is the most widely used U.S. large-cap index among institutional investors.
Russell became the investment advisor for the One Fund (NYSE ticker: ONEF) an ETF of ETFs that launched May 14, 2010. It was subsequently renamed the Russell Equity ETF.
Russell said its ETFs would complement existing ETF products offered by its partners, which currently account for around $84 billion in ETF assets (as of April 30, 2011).
Other ETF Launches
Global X Funds launched the Global X Auto ETF (NYSEArca: VROM) and the Global X Canada Preferred ETF (NYSEArca: CNPF).
CNPF tracks the Solactive Canada Preferred Index which consists of 58 Canadian preferred stocks that trade on the TSE. The fund’s annual expense ratio is 0.58%.
VROM follows the S-Network Global Automotive Index which contains 50 global auto stocks. The largest countries represented within VROM are Germany (23%), Japan (22%) and the U.S. (22%). VROM’s annual expense ratio is 0.65%.
Also, the IQ Hong Kong Small Cap ETF (NYSEArca: HKK) was introduced by IndexIQ. HKK holds 100 stocks with an average market size of $1.19 billion and the fund’s annual expense ratio is 0.69%. |
