Global X Files For Oil Equities ETF

Global X, the New York-based ETF issuer that already offers sector-specific China and Brazil funds and a number of ETFs focused on commodity-intensive equities, continued to expand its pipeline; the firm recently made an SEC filing laying the groundwork for an oil equities ETF. Although details from the filing were scarce, there were a few revelations: The fund will track the Solactive Global Oil Equities Index, a global benchmark tracking firms engaged in the production and refinement of crude oil around the world. This index is free float adjusted, liquidity tested and market capitalization-weighted index that is designed to measure the performance of oil companies globally that are highly correlated with the price of oil, as defined by Structured Solutions AG. Currently, the index has 25 component securities. The proposed fund would enter into an already crowded corner of the ETF market; currently, there are over 40 ETFs in the [...] Click here to read the original article on ETFdb.com. Related Stories: iShares Files For Global TIPS ETF Claymore Files to Launch First Actively-Managed Commodity ETF WisdomTree Files For Brazilian Bond ETF