How to Kill a Black Swan Remy Briand and David Owyong ...

Exchange-Traded Funds Corner
Largest New ETFs Sorted By Total Net Assets In $US Millions
Covers ETFs and ETNs launched during the 12 months ended April 30, 2009
Fund Name
Direxion Financl Bear 3X
Direxion Financl Bull 3X
PowerShares DB Cr Oil Dbl Long
iShares MSCI AC Asia ex-Japan
ProShares Ultra DJ-AIG Cr Oil
Direxion Large Cp Bear 3X
Direxion Large Cp Bull 3X
Vanguard Total World
Direxion Small Cp Bull 3X
Direxion Small Cp Bear 3X
ProShares Short Financials
Direxion Energy Bull 3X
iShares Barclays Agncy Bd
ProShares Ultra Gold
WisdomTree Dryfs ChneseYn
PowerShares DB Cr Oil Dbl Short
JPMorgan Alerian MLP Index ETN
Market Vectors HiYld Muni
WisdomTree Dryfs Brazil Real
ProShares UltShort Yen
Ticker
FAZ
FAS
DXO
AAXJ
UCO
BGZ
BGU
VT
TNA
TZA
SEF
ERX
AGZ
UGL
CYB
DTO
AMJ
HYD
BZF
YCS
ER
0.95
0.95
0.75
0.74
0.95
0.95
0.95
0.25
0.95
0.95
0.95
0.95
0.20
0.95
0.45
0.75
0.85
0.35
0.45
0.95
YTD
-76.72
-67.99
7.06
15.84
-44.56
-23.63
-18.14
-1.64
-25.08
-37.94
-14.31
-31.44
0.18
-2.50
2.49
19.11
-
-
1.20
13.87
1-Mo
-59.84
47.82
-1.44
17.34
-9.86
-29.48
31.21
12.06
46.83
-42.21
-21.37
16.62
0.08
-7.51
-0.27
1.12
-
1.37
6.02
-1.23
3-Mo
-83.51
-11.09
1.87
26.15
-26.74
-35.81
8.25
10.34
7.90
-49.48
-30.04
-22.29
0.79
-11.47
1.77
-3.32
-
-
9.55
17.30
Launch Date
11/6/2008
11/6/2008
6/16/2008
8/13/2008
11/24/2008
11/5/2008
11/5/2008
6/24/2008
11/5/2008
11/5/2008
6/10/2008
11/6/2008
11/5/2008
12/1/2008
5/14/2008
6/16/2008
4/1/2009
2/4/2009
5/14/2008
11/24/2008
Source: Morningstar. Data as of April 30, 2009. ER is expense ratio. YTD is year-to-date. 1-Mo is 1-month. 3-Mo is 3-month.
Assets
1,307.6
1,136.3
633.8
426.3
369.2
340.5
284.6
251.5
219.1
180.3
155.8
141.1
139.8
126.5
96.8
86.8
83.6
78.7
69.8
68.6
Selected ETFs In Registration
ALPS Equal Sector Weight ETF
iShares Diversified Alternatives Trust
iShares MSCI ACWI ex US Industrials
Direxion Homebuilders Bull 3X Shares
Emrg Global Shares DJ Em Mkt Titans Tech
ETFS Palladium Trust
FocusShrs Progr Princpl Protn 2035 Tgt Date
Global X Argentina ETF
Grail American Beacon Intl Eqty
IQ ARB Merger Arbitrage ETF
sShares KLD N America Sustainability
PowrShrs Alt-A Non-Agency RMBS Opporty
ProShares Ultra CDX N America HiYield
SPDR Wells Fargo Preferred Stock ETF
SPDR S&P Municipal VRDO ETF
Market Vectors China A Share ETF
WisdomTree DEFA Hedged Fund
CurrencyShares Singapore Dollar Trust
PowerShares Ireland Portfolio
JETS DJ Islamic Market International
Source: IndexUniverse.com's ETF Watch
Largest U.S.-listed ETFs Sorted By Total Net Assets In $US Millions
Total Return % Annualized Return %
Fund Name Ticker Assets Exp Ratio 3-Mo YTD
2008 2007
3-Yr 5-Yr Mkt Cap P/E
Sharpe Std Dev Yield
SPDRs (S&P 500)
SPDR Gold Trust
iShares MSCI EAFE
iShares MSCI Emerg Mkts
iShares S&P 500
PowerShares QQQQ
iShares Lehman TIPS Bond
iShrs iBoxx $ Inv Grd Bnd
iShares Lehman Aggregate
Vanguard Total Stock Market
iShares R1000 Growth
iShares Russell 2000
iShares Lehman 1-3 Treas
iShares FTSE/Xinhua China
DIAMONDS Trust
MidCap SPDR (S&P 400)
Vanguard Emerging Markets
iShares R1000 Value
iShares Brazil
Financial SPDR
iShares S&P 500 Growth
iShares Japan
Energy SPDR
iShares Russell 1000
SPY
GLD
EFA
EEM
IVV
QQQQ
TIP
LQD
AGG
VTI
IWF
IWM
SHY
FXI
DIA
MDY
VWO
IWD
EWZ
XLF
IVW
EWJ
XLE
IWB
60,678.3
31,353.0
27,281.4
25,767.8
16,379.5
13,388.2
12,074.5
10,645.1
9,579.3
9,440.3
9,152.6
8,474.6
7,391.0
7,073.8
6,980.7
6,933.6
6,770.4
6,739.6
6,057.2
5,097.1
4,915.7
4,535.7
4,277.3
4,195.6
0.09
0.40
0.34
0.74
0.09
0.20
0.20
0.15
0.20
0.07
0.20
0.20
0.15
0.74
0.17
0.25
0.25
0.20
0.69
0.23
0.18
0.52
0.23
0.15
6.22
-4.42
8.32
26.58
6.43
18.15
1.73
-2.07
0.56
7.52
10.39
9.45
0.19
27.36
2.91
12.49
28.88
3.95
27.04
17.23
6.60
0.95
-1.91
7.10
-2.43
0.87
-6.55
14.82
-2.22
15.45
1.69
-3.82
-1.43
-1.14
4.73
-1.13
-0.25
9.94
-5.67
5.04
17.40
-8.08
28.86
-13.48
1.41
-11.17
-3.66
-1.40
-36.70
4.92
-41.01
-48.86
-37.01
-41.72
-0.53
2.44
7.90
-36.97
-38.21
-34.15
6.61
-47.73
-32.10
-36.40
-52.47
-36.45
-54.36
-54.90
-34.78
-26.97
-38.97
-37.39
5.12
31.10
9.94
33.11
4.92
19.13
11.93
3.76
6.61
5.37
11.49
-1.76
7.35
54.81
8.78
7.20
37.32
-0.73
74.84
-19.19
8.84
-5.50
36.86
5.31
-10.82
10.27
-12.67
-4.92
-10.81
-6.10
5.15
2.70
5.94
-10.68
-8.72
-12.89
5.64
8.47
-8.21
-10.32
-5.95
-13.28
3.56
-29.69
-8.10
-16.00
-5.88
-10.85
-2.70
-
0.55
11.94
-2.72
0.22
4.73
2.71
4.70
-1.99
-2.60
-1.47
3.96
-
-2.16
0.28
-
-2.58
28.99
-15.17
-2.46
-2.70
10.38
-2.41
33,667
-
21,933
16,486
34,710
25,618
-
-
-
22,073
26,222
678
-
59,593
81,810
1,919
10,635
27,475
14,939
18,983
44,444
10,215
42,330
26,805
11.1
-
9.7
10.1
12.1
17.6
-
-
-
11.0
13.2
12.9
-
9.9
10.0
11.4
8.3
11.1
8.1
12.5
12.2
8.3
7.0
12.2
-0.70
0.43
-0.62
-0.11
-0.70
-0.28
0.25
0.01
0.50
-0.66
-0.55
-0.61
1.19
0.32
-0.62
-0.52
-0.15
-0.79
0.21
-0.96
-0.57
-0.98
-0.23
-0.68
18.51
20.05
22.77
30.78
18.55
23.58
8.81
11.70
5.45
19.21
19.05
23.26
1.95
40.37
16.86
22.28
30.46
19.68
39.18
33.66
17.75
19.18
25.63
18.99
3.02
0.00
4.38
3.00
2.89
0.45
5.03
5.86
4.47
2.78
1.61
1.86
3.26
2.41
3.58
1.69
4.30
3.86
4.77
6.08
1.64
1.58
1.99
2.57
Source: Morningstar. Data as of April 30, 2009. Exp Ratio is expense ratio. 3-Mo is 3-month. YTD is year-to-date. Mkt Cap is geometric average market capitalization. P/E is price-to-earnings ratio.
Sharpe is Sharpe ratio. Std Dev is 3-year standard deviation. Yield is 12-month.
www.journalofindexes.com July/August 2009
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