Five plain vanilla listings from PowerShares
PowerShares is listing five new funds under its “PureBeta” brand. The listings suggest that the fourth largest American issuer is taking a different strategy in its product offering, breaking away from its smart-beta-centred approach and trying to make headways in plain vanilla ETFs.
The new funds are:
PowerShares PureBeta MSCI USA Portfolio (PBUS)
PowerShares PureBeta MSCI USA Small Cap Portfolio (PBSM)
PowerShares PureBeta FTSE Developed ex-North America Portfolio (PBDM)
PowerShares PureBeta FTSE Emerging Markets Portfolio (PBEE)
PowerShares PureBeta 0-5 Yr US TIPS Portfolio (PBTP)
Each of the five products tracks well-known indexes by MSCI and FTSE and use physical replication.
Apt value ETF from Aptus
Aptus is listing a new fund on Bats which tracks an index built in-house. The Aptus Fortified Value ETF (FTVA) will invest in 50 companies and real estate trusts that it believes are undervalued. FTVA will decide which companies are undervalued by looking at their cash flow relative to size, P/E ratio, as well as their profitability, the prospectus says. It will also commit 0.5% of its fund to a “tail hedge” which, when markets look overvalued, will buy put options on securities that track the US stock market.
iShares updates its 10 year iBond
iShares has updated its 10-year iBond for 2017, issuing a fund that offers exposure to investment-grade corporate bonds that mature between January 1, 2027 and December 15, 2027. The new product, called the iShares iBonds Dec 2027 Term Corporate ETF (IBDS), is structured the same as its other 10-year iBonds (i.e. the iBonds Dec 2024 Term Corporate ETF).