Market Overview

iShares Files for a Slew of New ETFs

BlackRock's (NYSE: BLK) iShares unit, already the world's largest ETF sponsor, has filed plans with the Securities and Exchange Commission (SEC) to possibly introduce 12 new ETFs, several of which will compete directly with existing products.

iShares will continue its almost unnoticed tradition of copycat funds that compete directly with Van Eck's Market Vectors business with iShares MSCI Global Gold Miners Fund, which could be a direct rival to the Market Vectors Gold Miners ETF (NYSE: GDX). The Global X Silver Miners ETF (NYSE: SIL) could see some competition in the form of the iShares MSCI Global Silver Miners Fund.

iShares has also filed plans for the iShares MSCI Global Energy Producers Fund, which will track an index of about 314 companies. The ETF would exclude alternative energy firms and focus on coal, natural gas and oil exploration and production firms.

The Market Vectors Agribusiness ETF (NYSE: MOO), far and away the largest equity-based agribusiness ETF on the market, might see a challenge by way of the iShares MSCI Global Agriculture Producers Fund. That ETF will track an index of 35 countries including Australia, Belgium, Brazil, Canada, Chile, China, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, the Netherlands, New Zealand, Norway, Peru, Poland, Russia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey and the United States.

Also on the docket is the iShares MSCI Global Select Metals & Mining Producers Fund, which will track an index of 369 firms.

iShares also filed plans for seven new bonds funds. They are the following: The iShares Industrials Sector Bond Fund, iShares Barclays U.S. Treasury Bond Fund, iShares Barclays GNMA Bond Fund, iShares Financials Sector Bond Fund, iShares Utilities Sector Bond Fund, iShares Barclays CMBS Bond Fund and the iShares Aaa – A Rated Corporate Bond Fund.

Tickers and expense ratios were not disclosed for any of the ETFs. iShares 219 ETFs with $456.1 billion in assets under management at the end of October, according to data from the National Stock Exchange.

Posted-In: News Sector ETFs Specialty ETFs New ETFs Emerging Market ETFs Futures Commodities Intraday Update

 

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