The funds are: Claymore/Morningstar Information Super Sector Index, the Claymore/Morningstar Services Super Sector Index ETF, and the Claymore/Morningstar Manufacturing Super Sector Index ETF. The funds license the Morningstar Super Sector Indexes and have an expense cap of .40%.
“Investors recognize that sector diversification is important, but the sheer number of sectors may make it difficult for them to track and allocate their holdings across countries,” said Christian Magoon, senior managing director and head of Claymore’s ETF Group. “Developing this partnership with Morningstar continues Claymore’s tradition of access to innovation, which we feel distinguishes us from other ETF providers,” he said.
“The Morningstar Super Sector Indexes offer investors a different way of looking at the market,” said Sanjay Arya, director of Morningstar Indexes. “Our Super Sector structure represents a unique way to classify companies based on the broad economic spheres in which they operate. This intuitive, consumption-based organization of sector mimics the way economics evolve from dependence on the production of physical products to the delivery of services, which culminates in the exchange of information.”