Our weekly roundup of new fund launches.
OppenheimerFunds launches 3 revenue-weighted ETFs
Adding to its smart beta fund offerings, OppenheimerFunds announced three new ETFs with an international focus.
The new funds are the Oppenheimer Emerging Markets Revenue ETF (REEM), Oppenheimer Global Revenue ETF (RGLB) and Oppenheimer International Revenue ETF (REFA).
The emerging markets fund seeks to outperform the MSCI Emerging Markets Index, with an expense ratio of 46 basis points. The global revenue fund seeks to outperform the MSCI All Country World Index, with an expense ratio of 43 basis points. And the international revenue fund seeks to outperform the MSCI EAFE Index, with an expense ratio of 42 basis points.
BlackRock lowers fees on mortgage bond ETF
Seeking to provide a cheaper alternative to mortgage bonds, BlackRock announced a repricing of the iShares MBS ETF (MBB).
Launched in 2007, the fund will see its expense ratio lowered from 27 to nine basis points, the firm said.
The fund tracks an index of mortgages issued or guaranteed by U.S. government agencies, and has seen YTD total returns of 1.72%.
"By lowering the price to make the fund competitive with direct investment in mortgage securities, institutions will have a much more efficient, liquid option for dynamically managing mortgage-backed exposures," stated Martin Small, U.S. Head of iShares at BlackRock.
Deutsche Asset Management offers real estate collective trust
Deutsche Asset Management is offering real estate exposure within a new collective trust for institutional investors, according to the firm.
The Deutsche Real Assets Collective Investment Trust Fund, which launched in June, offers exposure to a variety of liquid real assets including global REITs, listed infrastructure, commodity futures, natural resource equities and treasury inflation-protected securities.
GuideStone offers a strategic alternatives fund
GuideStone funds launched a new strategic alternatives product designed to generate returns with lower volatility traditional equity and fixed-income markets, according to the company.
The GuideStone Strategic Alternatives Fund (GFSZX), which has an investment minimum of $1,000 and expense ratio of 1.42%, is built to minimize volatility through reliance on long- and short-term equity, options selling, currency trading and short duration high yield. The fund is an add-on to Guidestone's Defensive Market Strategies Fund for alternative investments.
USCF introduces new U.S. oil funds
The asset management firm added two more oil funds to its listings, according to the firm.
The United States 3X Oil Fund (USOU) and United States 3X Short Oil Fund (USOD) have expense ratios of 1.84% and 2.19%, respectively, according to Morningstar.
They are two out of six oil funds the firm offers. Both funds can be traded on the NYSE Arca.
USOU seeks returns of 300% on West Texas Intermediate light, sweet crude oil futures contract and USOD seeks returns of -300% on the WTI light, sweet crude oil futures contract, the firm said.
U.S. equity ETF from ProShares
ETF provider ProShares introduced its first U.S. equity ETF designed to outperform traditional large-cap indexes like the S&P 500, according to the provider.
The ProShares Equities for Rising Rates ETF (EQRR), which has an expense ratio of 0.35%, is benchmarked to the Nasdaq U.S. Large Cap Equities for Rising Rates Index and listed on the Nadsaq exchange.
It is designed to select five U.S. large-cap stocks in each sector that have most recently demonstrated the highest correlation to weekly changes in 10-year U.S. Treasury yields. Stocks with higher correlations to rising interest rates are more heavily weighted.
Direxion unveils Europe-focused ETF
Citing renewed investor interest in European equities, Direxion announced the launch of an ETF tracking an index covering 50 blue-chip stocks from 11 Eurozone countries.
The Direxion Daily EURO STOXX 50 Bull 3X Shares (EUXL) seeks to achieve 300% of the daily performance of the EURO STOXX 50 Index. The fund carries an expense ratio of 1.04%.
"The outlook for European equities has turned bullish, with growing interest from traders," said Sylvia Jablonski, managing director at Direxion.
AST announces equity plan website
Equity solutions provider AST introduced a new website in an effort to streamline transactions and make data more easily accessible to its clients, according to the provider.
Online registration has been simplified and product summaries have been condensed. User manuals and informational videos on how to make different types transactions on the website are available.
AST, which has services that include employee plan services, information agent, mutual fund proxy solicitation, shareholder identification, asset recovery and investment management offerings, launched the website as a part of its company rebranding.