FactorShares Files Plans for 3 New ETFs

FactorShares, the ETF sponsor known primarily for its suite of spread ETFs, has filed plans with the Securities and Exchange Commission to possibly introduce three new ETFs. The firm currently sponsors five ETFs. New York-based FactorShares has filed plans for the PureFunds ISE Diamond/Gemstone ETF, which traded 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, according to the ETF's filing. FactorShares also filed plans for the PureFunds ISE Mining Service ETF, which also charge 0.69 percent and 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, according to the filing. Mining equipment maker Joy Global JOY is among the index members. The third fund FactorShares filed plans for 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. The index's three largest components were Endeavour Silver EXK, Fortuna Silver Mines FSM and McEwen Mining MUX.
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Posted In: NewsSector ETFsSpecialty ETFsNew ETFsFuturesCommoditiesPre-Market OutlookAfter-Hours CenterMarketsETFsFactorShares
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