US-Listed ETFs Sorted by Asset Class and Year-to-Date Return

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the SEC not being comfortable granting
exemptive relief to a firm that already
has such a large presence in the
world of indexing.
At the end of May, Russell followed up
the initial launch with the rollout of 10
more ETFs tracking “factor-based” versions
of the Russell 1000 and Russell 2000.
Guggenheim Unveils
Active Bond ETFs
Guggenheim Funds entered the actively
managed ETF space in May with the
launch of two bond funds that target
core exposure as well as an investor’s
need for income.
The Guggenheim Enhanced Core
Bond ETF (NYSE Arca: GIY) and the
Guggenheim Enhanced Ultra-Short
Bond ETF (NYSE Arca: GSY) are currently
the cheapest actively managed
fixed-income ETFs available.
GIY aims to outperform the Barclays
Capital U.S. Aggregate Bond Index using
a quantitative strategy that seeks to
both identify mispriced bonds and estimate
future returns linked to a correction
in those mispricings.
Guggenheim’s other offering, GSY,
focuses on the short end of the yield
curve and seeks to outperform the oneto
three-month Treasury Bill Index.
The fund seeks “maximum income”
and invests primarily in dollar-denominated
investment-grade government
and corporate bonds, but it may include
some foreign debt as well.
The two new Guggenheim ETFs have
annual expense ratios of 0.27 percent.
VelocityShares Adds
iShares’ Parsons To Board
VelocityShares, the new ETN company
known for its volatility-linked products,
in May named to its board J. Parsons,
who was previously global head of
iShares sales while it was part of Barclays
Global Investors.
VelocityShares first entered the ETP
market with the launch of six VIX-based
ETNs in November 2010, among them
the VelocityShares Daily 2X VIX Short-
Term ETN (NYSE Arca: TVIX). The company
said its family of ETNs has since
amassed about $180 million in assets.
Parsons, who led iShares’ global
business development from its inception
through its sale to BlackRock, said
he is “thrilled” to help the company
continue to grow.
VelocityShares’ lineup of VIX-linked
ETNs includes leveraged as well as inverse
strategies. It said TVIX now trades
more than 1 million shares a day, and is
one of the most liquid ETPs launched in
the last six months.
Parsons left BlackRock in 2010.
Global X ETF Trades
Free On Interactive
Interactive Brokers began offering free
trades on ETFs sponsored by New Yorkbased
Global X in May. Terms of the
agreement weren’t disclosed.
The free-trading offer is the latest
sign of competition in the rapidly growing
world of ETFs. The most conspicuous
price battle is between Vanguard, the
No. 3 U.S. ETF firm, and discount broker
Schwab, with both firms offering free
trades to clients trading their respective
proprietary ETFs. Additionally, Scottrade
is offering free trades on a new lineup of
15 equity funds it rolled out in March.
Interactive Brokers and its affiliates
execute almost 1 million trades per
day on a variety of electronic products,
among them stocks, options, futures,
foreign exchange and bonds, according
to the company’s website. The company’s
mission is to create technology and
provide liquidity on better terms.
Global X has gathered almost $1.7
billion in assets spread among well over
30 funds; it rolled out its first ETF in
February 2009.
First Trust Rolls Out
First-Ever Auto ETF
In May, First Trust rolled out the world’s
first ETF focused on automobile manufacturers,
in part as a reflection of high
hopes in the investment world that the
emerging markets will power global
growth in the coming years.
The First Trust Nasdaq Global Auto
Index Fund (NasdaqGM: CARZ) is based
on the Nasdaq OMX Global Auto Index,
a benchmark designed to track the performance
of the biggest and most liquid
companies engaged in the auto manufacturing
industry. The ETF has an an-
ETFR • July 2011 3