Review Of Recent ETF Filings

A dozen new exchange-traded products have come to market thus far in April and by the looks issuers' pipelines, investors can expect plenty of new products to debut over the coming months. Here's a recap of what has been a brisk couple of days on the filing front. PowerShares, the fourth-largest U.S. ETF issuer, has filed plans with the Securities and Exchange Commission to possibly introduce the PowerShares China A-Share Portfolio. If that fund comes to market, it would be the second to offer investors exposure to the China A shares market. The original fund to do that is the Market Vectors China ETF PEK. PowerShares has also filed plans for the PowerShares Absolute Return Allocation Portfolio. That fund will invest in U.S. Treasuries and large-cap stocks. No ticker or expense ratio were mentioned in the filing. PowerShares also filed plans for the PowerShares Global Macro Portfolio and the PowerShares Emerging Markets Equity Allocation Portfolio. The emerging markets fund will invest in EM stocks, exchange-listed futures contracts on the MSCI Emerging Markets Index and futures on the CBOE Emerging Markets ETF Volatility Index. PowerShares may also add to its commodities lineup with the PowerShares Crude Oil Allocation ETF, which invest in oil futures contracts and futures contracts on the CBOE Crude Oil ETF Volatility Index. The PowerShares Gold Allocation Portfolio will be the gold equivalent of the aforementioned oil fund, tracking gold futures and futures contracts on the CBOE Gold ETF Volatility Index. KraneShares filed to possibly list the dKraneShares Dow Jones China Select Dividend ETF. The Underlying Index is an unmanaged dividend yield-weighted index comprised of eligible companies included in the Dow Jones China Offshore Total Stock Market Index and the Dow Jones Hong Kong Total Stock Market Index, which are market capitalization-weighted indexes designed to measure the performance of equity securities with readily available prices. In general, the Underlying Index is designed to select securities with positive dividend-paying and yield characteristics, according to the filing. KranShares ETFs have previously been filed for though none have come to market. No ticker or expense ratio were mentioned in the most recent filing. State Street's STT State Street Global Advisors, the second-largest U.S. ETF issuer, has filed plans to perhaps list the SPDR SSgA Multi-Asset Real Return ETF which will trade under the ticker "RLY" on the New York Stock Exchange and feature a 0.7% expense ratio. Looking at RLY's composition, it could be a possible rival to the multi-asset Global X Permanent ETF PERM. SSgA may also list the SPDR SSgA Income Allocation ETF, which will trade on the NYSE under the ticker "INKM" and also feature an expense ratio of 0.7%. Other new SSgA funds could include the SPDR SSgA Conservative Global Allocation ETF, which trade on the NYSE under the ticker "CNSA" with a fees of 0.35%, and the SPDR SSgA Global Allocation. That fund will also trade on the NYSE with the ticker "GAL." GAL will also have an expense ratio of 0.35%. The SSgA filings don't end there. The firm may roll out the SPDR SSgA Aggressive Global Allocation ETF, which will trade on the NYSE with the ticker "AGRA" and feature an expense ratio of 0.35%. The SPDR Blackstone/GSO Senior Loan ETF, which be NYSE-listed with the ticker SRLN and an expense ratio of 0.9%. First Trust, the tenth-largest U.S. ETF issuer, may list the First Trust Global Agriculture AlphaDEX Fund. That fund could prove to be a possible rival to the Market Vectors Agribusiness ETF MOO and the iShares MSCI Global Agriculture Producers Fund VEGI. Neither an expense ratio nor ticker were included in the First Trust filing. Fresh of the debut of the Global X MLP ETF MLPA, Global X has filed plans for the Global X Risk Parity ETF, which may invest in developed and emerging markets bonds, equities, commodities, currencies and real estate. Ticker and expense ratio data weren't included in the Global X filing. Following the March debut of the Yorkville High Income MLP ETF YMLP, Exchange Traded Concepts has filed plans to introduce the Yorkville High Income Composite MLP, which will trade on the NYSE under the ticker "YMLC," and the Yorkville High Income Infrastructure MLP, which also list on the NYSE under the ticker "YMLI." The filings did not mention expense ratios, but YMLP charges 0.82%. Merk Investments may list the Merk Gold Trust. The Merk Gold Trust will hold London Good Delivery Bars and may hold other gold bars and coins with a minimum fineness (or purity) of 995 parts per 1,000 (99.5%), except that the Trust also may obtain American Gold Eagle gold coins (with a minimum fineness of 91.67%) solely for the limited purposes described herein, according to ETF Daily News. The Merk Gold Trust will trade on the NYSE under the ticker "OUNZ" and unlike the SPDR Gold Shares GLD and comparable funds, OUNZ will allow investors to take physical delivery of gold in exchange for their shares, according to the filing.