New ETFs Coming to Track Gemstones, Mining Services and Junior Silver Miners
FactorShares, the ETF sponsor known primarily for its suite of spread ETFs, will introduce three new mining sector ETFs on Thursday. Those funds will include the PureFunds ISE Diamond/Gemstone ETF, which will trade on the NewYork Stock Exchange under the ticker "GEMS" and feature a 0.69 percent annual expense ratio. GEMS will track the ISE Gemstone Index, which had 26 constituents as of late July. Constituent companies included Petra Diamonds Limited, Harry Winston Diamond Corporation and Chow Tai Fook Jewellery Group.
The firm will also unveil the PureFunds ISE Mining Service ETF, which charges 0.69 percent and will trade on the NYSE under the ticker "MSXX." The PureFunds ISE Mining Service ETF will track the ISE Mining Services Index. That index had 31 constituents as of late July. Joy Global (NYSE: JOY) is among the familiar names in that index.
The third new FactorShares fund is the PureFunds ISE Junior Silver (Small Cap Miners/Explorers) ETF. That ETF will also trade on the NYSE under the ticker "SILJ" and its expense ratio will also be 0.69 percent. SILJ will track the ISE Junior Silver Miners Index, which had 28 constituents as of late July.
FactorShares filed plans for these ETFs in September.
For more on ETFs, click here.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.