New Listings
Source listed 15 ETCs on the SIX Swiss Exchange. With few exchange-traded commodities listed in Switzerland, Source should be able to gather assets from underserved investors. Gold is an exception to this general rule, with many local providers serving the market already. However, Source's physically-backed gold offering could gain some share, as its annual fee of 0.29% is the lowest amongst the existing products on the market. The other 14 ETCs are swap-based funds tracking the performance of S&P GSCI Total Return indices, including individual commodities and commodity baskets. They are backed with US Treasury Bills and cash and charge an annual fee of 0.49%.
State Street Global Advisors listed 12 ETFs on the Deutsche Borse under the brand name SPDR. The ETFs all track the performance of MSCI European equity indices, including ten different sector funds, a broad-based MSCI Europe fund, and an MSCI Europe Small-Cap fund. The management fee for each fund is 0.30% annually, except for the Small-Cap fund which levies a TER of 0.40%.
ETF Securities launched 16 triple-leveraged (both long and inverse) currency ETFs on the London Stock Exchange. The arithmetic of the daily compounding of these products leveraged returns will cause their performance to diverge from a simple three times the return of the reference index over longer holding periods—especially in more volatile markets. Holding these products for a longer period of time during a volatile market will likely cause capital losses, whether or not the returns on the underlying currency were positive or negative. Each ETF is expressed as long/short one currency (including the US dollar, the Australian dollar, the Euro, the Yen, and the Pound) against either the US dollar or the Pound. For a full list, including the LSE ticker symbol, click here.
Best and Worst Performers For the Week of November 8 - 12
After spending a few weeks amongst the list of the worst performing ETPs, S&P 500 volatility futures ETNs topped the list of best performers this week. Physical silver and palladium continued their run among the best performing ETFs, as investors continue to pour new money into physical precious metals.
Several sector-specific Chinese equity funds were among the worst performers for the week, including real estate, industrials, financials and banks, as the speculation that the People's Bank of China would increase interest rates in an effort to curb inflationary pressures mounted. Sugar prices experienced a gut-wrenching decline last week, as plans for increased exports from Europe, a strong harvest in India, and an increase in margin requirements for futures contracts weighed on the market.
