Global X Files For "Air Jordan" ETFs (QAI, SIL, URA)

Global X, the New York-based ETF issuer known for its unique and often first-to-market emerging markets and sector ETFs, has filed plans with the Securities and Exchange Commission to possibly introduce a quarter of unusual ETFs designed to offer investors exposure to various hedge fund and value investing strategies. The funds Global X filed for are the Global X Top Hedge Fund Equity Holdings ETF, Global X Top Value Guru Holdings ETF, Global X Top Activist Investor Holdings ETF and Global X Listed Hedge Funds ETF. The Hedge Fun Equity Holdings ETF will track the Solactive Top Hedge Fund Equity Holdings Index while the Value Guru ETF will follow the Solactive Top Value Guru Holdings Index. Global X's Top Activist Investors Holdings ETF will be linked to the Solactive Top Activist Investor Holdings Index while the Listed Hedge Funds ETF will follow the Solactive Listed Hedge Funds Index. Some hedge fund replication ETFs have proven successful with investors. The IndexIQ Hedge Multi-Strategy Tracker ETF

has about $200 million in AUM while the Credit Suisse Merger Arbitrage Liquid Index ETF

has about $90 million in AUM. The IndexIQ Hedge Macro Track ETF

is further down the list with over $40 million in assets. Investors may not be able to pass up the opportunity to channel their inner Steve Cohen or Louis Bacon, but as the Global X filing notes, it's really common sense, and kudos to

"The 13F filings used to select the securities in the Underlying Index are filed by each hedge fund approximately 45 days after the end of each calendar quarter. As a result, a given hedge fund may not hold the position at the time when the position is added to the Underlying Index." Translation: The SEC can tell investors what Cohen, Warren Buffett and other heavy hitters have OWNED, not always what they are currently holding. Hence "Air Jordan" in our title. These ETFs may help you look like the biggest names on the Street, but there are no guarantees they'll replicate the success of investing legends. Global X had 40 ETFs and over $1.4 billion in AUM at the end of February, according to data from the ETF Industry Association. Some of the firm's largest funds include the Global X Silver Miners ETF

and the Global X Uranium ETF

.