Update On iShares EM Bond ETF
iShares, the largest U.S. ETF issuer, has updated its regulatory filing for the iShares Emerging Markets Local Currency Bond Fund, noting the ETF will trade under the ticker “LEMB” and have an expense ratio of 0.6%. ETF issuers rarely disclose ticker symbols and expense ratios for new funds in the initial regulatory filings.
What's interesting about 0.6% expense ratio for the iShares Emerging Markets Local Currency Bond Fund is that it's above the expense ratios featured by two ETFs the new iShares will be direct rivals with. The Market Vectors Emerging Markets Local Currency Bond ETF (NYSE: EMLC) has an expense ratio of 0.49% while the WisdomTree Emerging Markets Local Debt Fund (NYSE: ELD) has an expense ratio of 0.55%.
ELD has assets under management of $1.1 billion while EMLC has $494.1 million.
LEMB will track a Barclays Capital benchmark of almost 290 bonds. As of September 30, 2011, there were 289 issues in the Underlying Index. As of September 30, 2011, the Underlying Index included securities issued by Brazil, Chile, Colombia, the Czech Republic, Egypt, Hungary, Indonesia, Israel, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Thailand and Turkey, according to the filing.
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