ETF – Page 6 – OneMint

Real Estate ETF List

Here is a list of real estate ETFs traded in the US.

iShares Cohen & Steers Realty Major Index (ICF): This real estate ETF invests in an index that represents large and liquid real estate investment trusts (REITs) as represented by the Cohen and Steers Realty Major Index.

iShares Dow Jones U.S. Real Estate Index Fund (IYR): This ETF invests in an index that measures the performance of the Real Estate industry of the U.S Equity market, and has 75 holdings. Its three largest holdings are Simon Property Group at 8.34%, Public Storage at 4.91% and Annaly Capital Management IN at 4.8% (as on Sep 07 2009).

iShares FTSE NAREIT Industrial / Office Capped Index Fund (FIO): This real estate market tracks an index that represents the industrial and office real estate sector of the U.S. equity market. It has 26 holdings, with Boston Properties PLC being the biggest holding at around 14.57% of the whole fund (as on Sep 07 2009).

iShares FTSE NAREIT Mortgage Plus Capped Index Fund (REM): This ETF tracks an index which measures the performance of the real estate, mortgage finance, and savings association sector of the US equity market. Its largest holding is at Annaly Capital Management IN at 22.18% (as on Sep 07 2009).

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Gold ETF in India

This post takes a look at the gold ETFs that are available to Indian investors. Right now there are six such gold ETFs in India.

Name	Expense Ratio	Pricing Per Unit	Inception Date
Benchmark Mutual Fund â€“ Gold Benchmark Exchange Traded Scheme	1%	Approximately 1 gram of gold	08 – March 2007
UTI Mutual Fund â€“ UTI Gold Exchange Traded Fund	2.5%	Approximately 1 gram of gold	3^rd Jan 2007
Kotak Mutual Fund â€“ Gold Exchange Traded Fund	2.5%	Approximately 1 gram of gold	21^st June 2007
Reliance Mutual Fund â€“ Gold Exchange Traded Fund	2.5%	Approximately 1 gram of gold	1^st November 2007
Quantum Gold Fund â€“ Exchange Traded Fund	1.25%	Approximately half a gram of gold	27^th February 2008
SBI Mutual Fund â€“ SBI Gold ETF	2.50%	Approximately 1 gram of gold	30^th March 2009

Update: Corrected inception date of GoldBees. Thanks to Kartik Shah for pointing it out.

China ETF List

Here is a list of ETFs that will let you get exposure to China.

iShares FTSE / Xinhua China 25 Index Fund (FXI): This ETF invests in an index that tracks the 25 largest and most liquid securities available to foreign investors in China.

iShares FTSE China (HK Listed) Index Fund (FCHI): The FCHI China ETF invests in large and mid cap companies in China available to foreign investors. This is an index fund, and all the securities available through this fund are also listed on the Hong Kong Stock Exchange.

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Asia ETF List

Last weekâ€™s post on Sri Lanka brought in some comments and emails about ways to invest in Sri Lanka and other Asian countries.

While I couldnâ€™t find any ETFs that invest in Sri Lanka; here are a few ETFs that invest in other Asian countries. This list doesnâ€™t include Japan and China because I plan to do a post on them separately.

Asia ETFs

These are ETFs that invest in Asia as a category:

iShares S&P 50 Asia Index Fund (AIA): This fund invests in stocks belonging to the S&P Asia 50 Index.

iShares MSCI All Asia Country ex Japan Index Fund (AAXJ): As the name suggests, this Asia ETF invests in stocks of the index that is composed of stocks from across Asia, but exclude Japan.

Vietnam ETF

Vaneck Vietnam ETF (VNM): This is an ETF that gives you exposure to stocks that are publicly listed in Vietnam or generate at least 50% of their revenues from Vietnam.

Hong Kong ETF

iShares MSCI Hong Kong (EWH): This Asia ETF invests in publicly traded companies in Hong Kong.

Malaysia ETF

iShares MSCI Malaysia Index Fund (EWM): EWM Malaysia ETF invests in publicly traded companies in Malaysia.

South Korea ETF

iSharse MSCI South Korea Index Fund (EWY): EWY lets you take positions in South Korea by investing in publicly traded companies in South Korea.

Singapore ETF

iShares MSCI Singapore Index ETF (EWS): This ETF invests in publicly listed companies in Singapore.

Taiwan ETF

iShares MSCI Taiwan Index Fund (EWT): EWT invests in publicly listed companies in Taiwan.

Thailand ETF

iShares MSCI Thailand Investible Market Index (THD): THD seeks to measure the performance of the Thai equity index, and is a capitalization weighted index.

Indonesia ETF

Indonesia Index ETF (IDX): This is a Van Eck ETF that has been launched recently. It invests in companies that are domiciled and primarily listed in Indonesia, or generate at least 50% of their revenues from Indonesia.

Indonesia Close Ended Fund

Credit Suisse Indonesia Fund (IF): This is a close ended fund that invests in Indonesia, by taking positions in the public equity markets of Indonesia.

Russia ETF

Vaneck Russia ETF (RSX): RSX invests in stocks that are domiciled in Russia or get the majority of their revenue from Russia.

India ETFs are listed here.

ProShares Credit Suisse 130 30 ETF

Proshares is the master of creating exotic ETFs and was the first one to come out with a leveraged, and an inverse ETF. This time it has come out with another interesting ETF – the Proshares 130 30 ETF (CSM).

The Proshares 130 30 Credit Suisse ETF (CSM) takes the 500 largest US stocks by market capitalization, ranks them in the order of best to worst, takes long positions in the top ranking ones, short sells the lower ranking ones, and then uses the money from the shorts to take further long positions in the better ranking stocks.

The net effect of this will be that the Proshares 130/30 ETF is long 130% and short 30% of the index. So, if the assets of the ETF are worth 100 dollars, they should normally be long 130 dollars worth of stock and short 30 dollars worth of stock.

This is a simplified example to illustrate the basic principle of the 130/30 mechanism. The Proshares 130/30 ETF itself will invest in Equity Securities, short Securities, Futures and Options, Swaps and Forward Agreements to achieve its strategy.

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MacroShares Major Metro Housing Up and Down Shares (UMM) and (DMM)

Macroshares has come up with a 3X leveraged ETP, for the housing market, which is similar to the one it had for Oil (UOY) (the one that terminated early).

It is meant to give you a way to invest in housing, but it will not go out and buy any real estate, nor will it buy stocks of companies that invest in or are related to real estate, and it won’t even get into any future contracts.

So how will Macroshares Metro ETP let you own housing?

Well, this is not the usual daily leveraged ETF or inverse ETF, and works differently from most ETFs, and is an ETP not an ETF either.

Here is how it works.

Macroshares has issued a pair of funds – one Up and one Down. Both will track an underlying reference index and if one is up, the other will be down and vice – versa.

At the end of a given period, if the reference index rose, then assets worth 3 times the movement will be transferred from the Down index (DMM) to the Up index (UMM). The ETP will only hold Treasuries and Repos on Treasuries as assets. To me this is like taking money from one pocket and putting it into another, while charging a fee for it.

Here is a graphical representation taken from the prospectus:

This is a complex financial product and I really can’t think of any use for this type of security for most investors. So, here are some aspects about Macroshares Metro, which will help you decide, if this is meant for you or not.

You can lose all your money

The good news is that you can’t lose more money than you have invested in this ETP; the bad news is that you can lose all of it.

If the S&P / Case Shiller Composite – 10 Home Price Index falls below 108.11, you will lose all your investment in the Macroshares Housing Up Shares. If the index rises above 216.23, you will lose all your money in the Macroshares Housing Down Shares.

Your upside is capped in UMM and DMM

Since, both the Up and Down shares are issued in pairs, one’s profit is another’s loss, this also means that your gains are capped.

So, keep in mind that when you are buying Macroshares Major Housing Up or Down Shares — you are buying something that can go down to zero, but has a cap on how much it can rise.

Reference Index of UMM and DMM

The reference Index of the MacroShares Major Metro Housing Up and Down ETPs is the S&P / Case Shiller Composite – 10 Home Price Index. The S&P/Case-Shiller Home Price Indices only measure changes in the market values of pre-existing single-family detached houses, though both homes that serve as primary residences and homes that are considered vacation or investment properties are included in the calculation of the indices.

Even though there is a reference index, the price of the Up and Down ETPs will be determined by the demand and supply in the market and there will be no arbitrage or other pressure

Macroshares Major Metro Housing does not move in pairs

Even though UMM and DMM are designed to be pairs and move in tandem with each other, in reality they don’t move exactly like that. Each trust will make quarterly payments to the other according to the way the Case Shiller index behaved.

As far as assets are concerned, the revenue generating assets are just the US Treasuries that will accrue interest to the Macroshares Housing ETP.

There are several other factors that affect the market prices other than the reference index and this same phenomenon was seen in the MacroShares Oil Down and Up Tradeable Shares also. Their value differed from the underlying value of the shares and those got terminated early.

The ETPs have a termination date of Nov 2014, and it is only then that the value of the funds will be reconciled with the value of the underlying asset. Before then the price will move like stock prices do on investor expectation.

UMM and DMM are not the same as buying or selling a house

This is not the same as buying a house or hedging against a house because of several reasons. One is that it has 3X leverage so the gains and losses are magnified.

Two, this really can go to zero, while your house will rarely ever go to zero. The upside is capped in DMM or UMM, while the upside is not capped in a house.

Factors other than the reference index will impact the price of your Macroshares Up or Down unit.

The annual fee and operating expense that Macroshares charge might eat up the assets of the fund itself.

Termination Date of UMM and DMM

MacroShares has set November, 25 2014 as the termination date for the UMM ETP. So, if the fund lasts that long, it will get terminated on that day and unit holders will be paid according to the index value. There are several reasons because of which UMM or DMM may terminate before 2014, and the most prominent among them is the underlying index going above or below a certain value.

For three (3) consecutive monthly index publication days, the S&P/Case-Shiller Composite-10 Home Price Index level is equal to or below 108.11 or equal to or above 216.23. At and above an index level of 216.23, the Up Trust would be entitled to 100.00% of the Down Trust’s assets under the settlement contracts and at and below an index level of 108.11, the Down Trust would be entitled to 100% of the Up Trust’s assets under the settlement contracts.

Expense Ratio of MacroShares Housing Up and Down Shares

The ETP charges a rather high expense ratio of 1.25% of assets. The fund will also need to pay an additional fixed amount that is estimated at $600,000 per year.

If the treasury income of UMM or DMM doesn’t cover the expenses, then they will be recovered from the assets of the fund.

Brief Summary

This post is much longer than my usual posts, so I’ll give you a brief summary here:

The MacroShares Metro Housing ETP is issued in Up and Down pairs.
It doesn’t move exactly in tandem with each other.
This is not a hedge against home prices
Your fund can go to zero
Your upside is capped.

iShares Bond ETF List

After a gold ETF list, oil ETF list, silver ETF list and an India ETF list, next in line was a bond ETF list. But, there are just too many bond ETF options, and I thought I’d take them by the sponsor – one by one.

This is a list of iShares Bond ETF and is really a collection of the ETFs they offer. I plan to create a comprehensive list of all bond ETFs, and this will be a building block for that bigger list.

A word of caution about ETFs, just like you would be watchful in anything financial such as Business Insurance or Mortgage Home plans; bond ETFs too require careful research on things like investment objectives, risk factors, & the charges and expenses prior to investing.

The following is a list of iShares bond ETFs which you can use to get an idea:

Barclays 1 to 3 Yr. Credit Bond Fund (CSJ) seeks outcomes matching the price & yield performance, prior to expense and fees, of investment grade credit sector of US bond market as explained by Barclays Capital 1 to 3 Yr. US Credit Index.

Barclays 1 to 3 Yr. Treasury Bond Fund (SHY) looks to approximate the total rate of return that match the price & yield performance, prior to expense and fees, of the short term sector of the US Treasury market as explained by Barclays Capital 1 to 3 Yr. US Treasury Index.

Barclays 10 to 20 Yr. Treasury Bond Fund (TLH) looks for outcomes matching the yield performance and price, prior to expense and fees, of the long term sector of the US Treasury market as explained by Barclays Capital 10 to 20 Yr. US Treasury Index.

Barclays 20 plus Yr. Treasury Bond Fund (TLT) looks to approximate the total rate of return of the long term sector of US Treasury market as explained by Barclays Capital US 20 plus Yr. Treasury Bond Index.

Barclays 3 to 7 Yr. Treasury Bond Fund (IEI) looks for outcomes matching the yield performance and price, prior to expense and fees of the intermediate sector of US Treasury market as explained by Barclays Capital 3 to 7 Yr. US Treasury Index.

Barclays 7 to 10 Yr. Treasury Bond Fund (IEF) seeks to approximate the total rate of return of the intermediate term sector of US Treasury market as explained by Barclays Capital 7 to 10 Yr. US Treasury Index.

Barclays Agency Bond Fund (AGZ) looks for investment outcomes matching the yield performance and price prior to expense and fees, of the agency sector of US govt. bond market as explained by Barclays Capital US Agency Index.

Barclays Aggregate Bond Fund (AGG) looks for investment outcomes matching the yield performance and price, prior to expense and fees, of the total US investment grade bond market as explained by Barclays Capital US Aggregate Index.

Barclays Credit Bond Fund (CFT) seeks outcomes matching the yield performance and price prior to expense and fees, of investment grade credit sector of the US bond market as explained by Barclays Capital US Credit Index.

Barclays Govt. /Credit Bond Fund (GBF) looks for investment outcomes matching the yield performance and price, prior to expense and fees, of the US govt. and investment grade US corporate securities of US bond market as explained by Barclays Capital US Govt./Credit Index.

Barclays Intermediate Credit Bond Fund (CIU) seeks results matching the yield performance and price prior to expense and fees, of the investment grade credit sector of US bond market as explained by Barclays Capital US Intermediate Credit Bond Index.

Barclays Intermediate GVI or Govt. /Credit Bond Fund (GVI) looks for investment outcomes matching the yield performance and price, prior to expenses and fees, of the investment grade credit sector of the US bond market and the total US Treasury market as explained by Barclays Capital Intermediate US Govt./Credit Index.

Barclays MBS Bond Fund (MBB) seeks investment outcomes that matching the yield performance and price, prior to expense and fees, of the investment grade agency mortgage backed securities sector of US as explained by Barclays Capital US MBS Index.

Barclays SHV or Short Treasury Bond Fund (SHV) looks for investment outcomes that matching yield performance and price, previous to expenses and fees, of the short term sector of US Treasury market as explained by Barclays Capital Short US Treasury Index.

Barclays TIPS or Treasury Inflation Protected Securities Fund (TIP) looks for outcomes matching yield performance and price, previous to expenses and fees, of the inflation protected segment of US Treasury market as explained by Barclays Capital US Treasury Inflation Protected Securities or TIPS Index.

Photo Credit: mharrsch

India ETF List

After the gold ETF list, oil ETF list and silver ETF list, next in line is the India ETF list. Strictly speaking, there are just two ETFs that focus on Indian equities.

There is one ETN that focuses on Indian equities, and then I included an ETF that invests in Indian and Chinese equities.

Here are all the funds:

Wisdom Tree India Earnings Fund (EPI): This India ETF invests in Indian companies that are listed on a major stock exchange in India and meet the following criteria:

Have generated at least $5 million in earnings in the last fiscal year.
Have a market capitalization of at least $200 million.
Have an average daily dollar volume of at least $200,000 for each of the six months prior to the Index measurement date.
Have traded at least 250,000 shares per month for each of the six months prior to the Index measurement date.
Have a price to earnings ratio (“P/E ratio“) of at least 2 as of the Index measurement date.

PowerShares India Portfolio (PIN): This India ETF seeks to track the Indus India Index (before fees and expenses). The index in turn is designed to replicate the Indian equity markets as a whole, through a group of 50 Indian stocks selected from a universe of the largest companies listed on two major Indian exchanges. The India Index has 50 constituents.

iPath MSCI India Index ETN (INP): This is an India ETN and not an ETF. This India ETN tracks the MSCI Total Return Index, which is an index that represents approximately 85% of the free-float-adjusted market capitalization of equity securities by industry group within India. As of March 31, 2009, the Index was comprised of 59 companies listed on the National Stock Exchange of India.

First Trust ISE Chindia Index Fund (FNI): This is not an ETF solely focused on India. It invests in the ADRs, ADS or stocks of companies both in India and China. It has 50 holdings and the biggest holding is Infosys Technologies with 8.01% and the second biggest holding is China Life Insurance Company with 7.74% as on March 31^st 2009.

Direxion Daily India Bull 2x Shares (INDL): This is a daily leveraged ETF that seeks daily investment result of 200% of the performance of the Indus India index. This is a 2x leveraged fund that seeks daily returns. You can read about leveraged ETF funds here.

Direxion Daily India Bear 2x Shares (INDZ): This is also a daily leveraged India ETF that seeks daily investment returns, but in opposite direction of the Indus India index. The 2x leverage daily returns means that it is not suitable for someone wanting to hedge their portfolio over a long term, and is at best an active management tool that can be played for the very short duration.

iShares S&P India Nifty 50 Index (INDY): The iShares S&P India Nifty 50 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P CNX Nifty Index. It has an expense ratio of 0.89%, and the Nifty is one of the most popular indices in India.

EGShares India Small Cap (SCIN): The Emerging Global Shares Indxx India Small Cap Exchange Traded Fund (ETF) seeks investment results that generally correspond (before fees and expenses) to the price and yield performance of the Indxx India Small Cap Index. The index is a freefloat market capitalization weighted stock market index comprised of a representative sample of 75 Indian companies that Indxx, LLC determines to be the representative of small market capitalization companies domiciled in India. This fund is new and has limited operating history.

EGShares India Infrastructure (INXX): The Emerging Global Shares Indxx India Infrastructure Index Exchange Traded Fund (ETF) seeks investment results that generally correspond performance of the Indxx India Infrastructure Index. The Indxx India Infrastructure Index is a free-float market capitalization weighted stock market index comprised of 30 leading companies that Indxx, LLC determines to be representative of Indiaâ€™s Infrastructure industries, as defined by the Industry Classification Benchmark(ICB).

Photo Credit: Marko Belluci

Update: Included the Direxion Leveraged funds and iShares S&P India Nifty 50 on May 09 2010.

Second Update: Included the EGShares India Small Cap and Infrastructure ETFs on Sep 12 2010.

Silver ETF List

Silver Bull by Tim Ellis

After gold etfs and oil etfs, the next in line are silver etfs. Here is a list of silver ETFs that you can invest in.

Silver ETFs that Hold Physical Silver

iShares Silver Trust ETF (SLV): iShares Silver ETF holds physical silver and the price of the ETF reflects its silver holdings at any given time. Click here to read more about iShares SLV.

Silver ETFs that own Futures Contracts

Powershares DB Silver Fund (DBS): This ETF tracks the price of silver by investing in rule based index made up of future contracts on silver.
E-TRACS CMCI Silver Total Return (USV): This is an ETN and tracks the UBS Bloomberg CMCI Silver Total Return index. The E-TRACS (USV) ETN will track the price of silver. To read more about ETNs, click here.

Double Silver ETFs

Proshares Ultra Silver ETF (AGQ): Proshares Utra Silver seeks daily returns, which are 200% of the daily price of silver. Daily returns mean increased volatility and it means that over the long run, the fund has a good chance of not moving twice as much as the price of silver.

Short Silver ETFs

Proshares Ultra Short Silver ETF (ZSL): Proshares Ultra short silver seeks daily returns, which are 200% of the opposite of the daily returns of silver price. This means that the fund goes up, when silver goes down and vice – versa. This fund also seeks daily returns which make it more volatile and over the long run, it may not move in tandem with the reverse of silver prices.