Van Eck Global has launched six exchange-traded funds focused on six industries.
The six tickers and their industries are: OIH, an oil services ETF; SMH, a semiconductor ETF; PPH, a pharmaceutical ETF; BBH, a biotechnology ETF; ETH, a retail ETF; and RKH and bank and brokerage ETF. The funds might include both domestic and U.S.-listed foreign companies, a feature that allows for a more global representation from each industry, compared with funds that include U.S.-only names, Van Eck said in a statement.
Each funds’ index is cap-weighted and require constituent companies to be listed on a U.S. exchange. They also must take a majority of their revenues from their respective industry. Van Eck also said each ETF will carry a gross expense ration of 0.47%, and a net expense ratio of 0.35%.
Donna Mitchell writes for Financial Planning.
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