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Twelve For &#39;12: Volatility ETFs to Watch In The New Year

Horizon Funds Horizon Expedition Plus ETF

Russell Investments, the index provider for some of the largest ETFs, said it will liquidate all 25 of its passively managed ETFs. The move will leave the firm with just one actively managed product, the Russell Equity ETF (NYSE: <a class="ticker" href="/stock/onef#NYSE">ONEF</a>).

The affected Russell ETFs will close to new investment on October 9, 2012 and the funds will be delisted at the close of trading on October 16. Full liquidation of the funds is intended to be completed by October 24, Russell said in a statement.

The following Russell ETFs will be shuttered: The Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>), the Russell 1000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/lbta#NYSE">LBTA</a>), the Russell 1000 High Volatility ETF (NYSE: HVOL), the Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>), the Russell 1000 High Momentum ETF (NYSE: <a class="ticker" href="/stock/hmtm#NYSE">HMTM</a>), the Russell 2000 High Beta ETF (NYSE: <a class="ticker" href="/stock/shbt#NYSE">SHBT</a>), the Russell 2000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/slbt#NYSE">SLBT</a>), the Russell 2000 High Volatility ETF (NYSE: SHVY), the Russell 2000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/slvy#NYSE">SLVY</a>), the Russell 2000 High Momentum ETF (NYSE: <a class="ticker" href="/stock/shmo#NYSE">SHMO</a>), the Russell Developed ex-U.S. Low Beta ETF (NYSE: <a class="ticker" href="/stock/xlbt#NYSE">XLBT</a>), Russell Developed ex-U.S. Low Volatility ETF (NYSE: <a class="ticker" href="/stock/xlvo#NYSE">XLVO</a>) and the Russell Developed ex-U.S. High Momentum ETF (NYSE: <a class="ticker" href="/stock/xhmo#NYSE">XHMO</a>).

Other Russell funds slated for closure include the following: The Russell Aggressive Growth ETF (NYSE: AGRG), the Russell Consistent Growth ETF (NYSE: <a class="ticker" href="/stock/cong#NYSE">CONG</a>), the Russell Contrarian ETF (NYSE: CNTR), the Russell Equity Income ETF (NYSE: EQIN), the Russell Growth at a Reasonable Price ETF (NYSE: <a class="ticker" href="/stock/grpc#NYSE">GRPC</a>), the Russell Low P/E ETF (NYSE: LWPE), the Russell Small Cap Aggressive Growth ETF (NASDAQ: <a class="ticker" href="/stock/sggg#NASDAQ">SGGG</a>), the Russell Small Cap Consistent Growth ETF (NASDAQ: <a class="ticker" href="/stock/scog#NASDAQ">SCOG</a>), the Russell Small Cap Contrarian ETF (NASDAQ: <a class="ticker" href="/stock/sctr#NASDAQ">SCTR</a>), the Russell Small Cap Low P/E ETF (NASDAQ: <a class="ticker" href="/stock/sclp#NASDAQ">SCLP</a>), the Russell High Dividend Yield ETF (NYSE: <a class="ticker" href="/stock/hdiv#NYSE">HDIV</a>) and the Russell Small Cap High Dividend Yield ETF (NYSE: <a class="ticker" href="/stock/divs#NYSE">DIVS</a>).

"Given challenging equity market conditions since the launch of these products, Russell determined that proposing the liquidation of the passively managed ETFs at this time is in the best interests of the ETFs and their shareholders," Russell said in the statement.

Russell made the announcement after the close of U.S. markets on August 17.

Earlier this month, <a href="http://www.benzinga.com/news/12/08/2812118/russell-investments-reviewing-etf-operations">Russell said it was conducting a strategic review</a> of its U.S. ETF operations. At the time of that announcement, Russell said it would scaling back its U.S. ETF staff, prompting speculation fund closures could be on the way.

Russell joins Direxion and Scottrade's FocusShares in announcing ETF closures in August. Direxion is slated to close nine leveraged products while Scottrade will liquidate all 15 FocusShares ETFs.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

One of the more interesting themes regarding new ETFs to hit the market in 2011 has been the emergence of <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/11/2087737/four-high-volatility-etfs-your-broker-forgot-to-mention">volatility ETFs</a>. 

Some give investors exposure to high beta fare while others focus on <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/10/2001773/four-low-volatility-etfs-your-broker-forgot-to-mention">lowering volatility to appeal to more conservative investors</a>. 

Regardless of a volatility ETF's objective, it is clear investors like these ETFs and there is now a volatility ETF for all seasons. Let's examine 12 volatility funds that are worth watching in the year ahead.

EGShares Emerging Markets High Income/Low Beta ETF (NYSE: <a class="ticker" href="/stock/hilo#NYSE">HILO</a>)
Considering that 2011 has been a tough year for emerging markets, HILO is off to a nice start. The ETF is down about 5% since its August debut, but the combination of dividends and a low volatility emerging markets play has proven alluring as investors have poured over $19 million into the ETF and average daily volume is just under 31,200 shares. One of the preferred low volatility EM options for 2012.

Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>)
There's a lot to like about this ETF. A low expense ratio (0.2%). It's home to 103 blue chip stocks, none receive a weight greater than 2.15%. The ETF has garnered $34.5 million in AUM since its late May debut. If 2012 is another year where defensive sectors such as staples and utilities thrive, that will be good for LVOL as those two sectors account for over 43% of the ETF's weight.

Russell Dev ex-U.S. Low Volatility ETF (NYSE: <a class="ticker" href="/stock/xlvo#NYSE">XLVO</a>) 
The search for "low vol" ETFs should not be confined to the U.S. and for those looking to emphasize developed markets, XLVO is one ETF to look at. The good news is that the top five country weights – the U.K., Japan, Canada, Switzerland and Australia – are not Euro Zone nations. The bad news is over 18% of the ETF's sector goes to financials.

Russell 2000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/slbt#NYSE">SLBT</a>)
Another new volatility play from Russell Investments, SLBT holds over 370 stocks and is designed to give investors exposure to the lowest beta members of the Russell 2000 Index. As such, SLBT's beta against the Russell 3000 is just 0.87.

iShares MSCI Emerging Markets Minimum Volatility Index Fund (NYSE: <a class="ticker" href="/stock/eemv#NYSE">EEMV</a>)
Just over two months old, EEMV has proven to be one of the more successful new EM ETFs to come to market this year having hauled in almost $30 million in AUM. The expense ratio is favorable at 0.25%, but an almost 21% allocation to financials might not be for all investors. While EEMV is a "low vol" play, it's similar to many multi-country EM ETFs in that Taiwan, China and Brazil figure prominently in the country mix. In this case, that trio gets over 41% of EEMV's weight.

iShares MSCI All Country World Minimum Volatility Index Fund (NYSE: <a class="ticker" href="/stock/acwv#NYSE">ACWV</a>)
Maybe you just need more. More countries and more stocks that is. ACWV is home to 280 stocks. The country allocations are divided among non-Europe developed markets and Asian emerging markets, but be advised the U.S. gets an allocation of over 49%.

PowerShares S&amp;P 500 Low Volatility Portfolio (NYSE: <a class="ticker" href="/stock/splv#NYSE">SPLV</a>)
Let's illustrate how successful SPLV has been among new ETFs in 2011. When wrote about this ETF on October 20, it had just over $432 million in AUM. Today, the PowerShares Web site says the ETF has $819.2 million in AUM. SPLV could be your grandfather's favorite ETF. A low expense ratio at 0.25% and utilities and staples combining for 62% of the ETF's weight make it a conservative investor's dream.

PowerShares S&amp;P 500 High Beta ETF (NYSE: <a class="ticker" href="/stock/sphb#NYSE">SPHB</a>)
SPLV has a "high vol" cousin in the form of the PowerShares S&amp;P 500 High Beta ETF. With $29.2 million in AUM, SPHB can't tough its low volatility in terms of size, but that's a decent total for a new ETF. An almost 34% weight to financials means that group will have to get its act together to make 2012 a profitable one for SPHB.

Russell 2000 High Volatility ETF (NYSE: SHVY)
The Russell 2000 High Volatility ETF fits the bill as a good for traders looking to position themselves for a rebound in small-caps. HVY is home to almost 380 stocks and features large weights to financials, technology, consumer discretionary and health care names.

Russell 1000 High Volatility ETF (NYSE: HVOL)
Or perhaps you prefer the comfort of large caps to go along with your high-beta ETF. We recommend the Russell 1000 High Volatility ETF. We'd like the ETF even more if a third of its sector weight was NOT devoted to financials. At least the energy and tech holdings are familiar and high quality.

iShares MSCI EAFE Minimum Volatility Index Fund (NYSE: <a class="ticker" href="/stock/efav#NYSE">EFAV</a>)
EFAV is just over two months old, but there are signs this ETF will be around a long time. Longer-term investors can enjoy the 0.2% expense ratio. Diversification advocates will like the fact that EFAV has double-digit weights to six sectors. Just be advised that five Euro Zone countries account for about 16% of the new ETF's country weight.

Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>)
Yes, "high beta" is in this ETF's name, but when you dig deeper into it's holdings, this ETF is more brisk jog than skydiving. Most of HBTA's holdings are of the blue chip variety, so this ETF actually has wider appeal than its name implies.

Twelve For '12: Volatility ETFs to Watch In The New Year

Last month, we took a look at four ETFs specifically designed to limit volatility and turned up some interesting options. As a result of the ETF industry's rapid growth, ETF issuers are coming up with unique ideas and finding interesting niches to fill. 

One of those niches has been funds that specialize in high or low volatility. To be clear, and this was the case with our look at the low volatility funds, we are not looking at sector-specific ETFs. Most investors know that if they want a low volatility sector ETF, they can head to telecom or utilities funds and high volatility plays can be found in the energy and materials sectors, just to a name a pair.

Without further ado, here are four high volatility ETFs your broker forgot to mention.

PowerShares S&amp;P 500 High Beta ETF (NYSE: <a class="ticker" href="/stock/sphb#NYSE">SPHB</a>):
As we noted last month, one of the better new ETFs of 2011 has been the PowerShares S&amp;P 500 Low Volatility Portfolio (NYSE: <a class="ticker" href="/stock/splv#NYSE">SPLV</a>). Well, SPLV has a cousin and its SPHB. Like SPVL, SPHB has an expense ratio of 0.25% and does exactly the opposite of the low volatility fund. SPHB holds 100 S&amp;P 500 stocks that have shown the highest beta over the past year. In a testament to the risk off trade, SPHB has just $11.2 million in assets under management compared to over $432 million for its lower volatility friend.

Russell 1000 High Volatility ETF (NYSE: HVOL):
And as we noted last month, Russell Investments has become one of the top purveyors of beta/volatility-focused ETFs, offering investors an array of funds at both the high and low end of the volatility spectrum. One of the high volatility options is the Russell 1000 High Volatility ETF, which made its debut in late May and has thus far garnered over $4.2 million in AUM.

Home to 111 stocks, HVOL's top sector weights aren't surprises: Finanicials and energy. Top-10 holdings include Schlumberger (NYSE: <a class="ticker" href="/stock/slb#NYSE">SLB</a>), Halliburton (NYSE: <a class="ticker" href="/stock/hal#NYSE">HAL</a>) and American Express (NYSE: <a class="ticker" href="/stock/axp#NYSE">AXP</a>).

Russell 2000 High Volatility ETF (NYSE: SHVY):
SHVY is the small-cap equivalent of HVOL, but SHVY's expense ratio is higher at 0.69% compared to 0.49% for SHVY. Still, SHVY has drawn in $7.7 million in AUM in what has been a tricky environment for small-caps over the past six months. SHVY is home to almost 380 stocks and features large weights to financials, technology, consumer discretionary and health care names.

Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>):
HBTA features the same expense ratio as HVOL , fewer holdings (98), but more AUM ($12.7 million). The Russell 1000 High Beta ETF is also a bit more conservative in its posture than HVOL, though not by much. Top-10 holdings include Halliburton, Caterpillar (NYSE: <a class="ticker" href="/stock/cat#NYSE">CAT</a>), Deere (NYSE: <a class="ticker" href="/stock/de#NYSE">DE</a>) and Apple (Nasdaq: <a class="ticker" href="/stock/aapl#Nasdaq">AAPL</a>). 

Bull case:
Obviously all of these funds need the risk on trade to come back on in a big way. The more risk is embraced, the more these ETFs thrive.

Bear case:
The exact opposite of the bull case. If investors run to cash and bonds, these aren't the ETFs you'll want to be around.

Small Cap Analysis

AAPL

Four High Volatility ETFs Your Broker Forgot To Mention

Press Releases

Horizon Investments Sponsors Its First Exchange Traded Funds, Names Clark Allen as Head of ETFs

BENJ

Russell Investments, the index provider for some of the largest ETFs, said it will liquidate all 25 of its passively managed ETFs. The move will leave the firm with just one actively managed product, the Russell Equity ETF (NYSE: <a class="ticker" href="/stock/onef#NYSE">ONEF</a>).

The affected Russell ETFs will close to new investment on October 9, 2012 and the funds will be delisted at the close of trading on October 16. Full liquidation of the funds is intended to be completed by October 24, Russell said in a statement.

The following Russell ETFs will be shuttered: The Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>), the Russell 1000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/lbta#NYSE">LBTA</a>), the Russell 1000 High Volatility ETF (NYSE: HVOL), the Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>), the Russell 1000 High Momentum ETF (NYSE: <a class="ticker" href="/stock/hmtm#NYSE">HMTM</a>), the Russell 2000 High Beta ETF (NYSE: <a class="ticker" href="/stock/shbt#NYSE">SHBT</a>), the Russell 2000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/slbt#NYSE">SLBT</a>), the Russell 2000 High Volatility ETF (NYSE: SHVY), the Russell 2000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/slvy#NYSE">SLVY</a>), the Russell 2000 High Momentum ETF (NYSE: <a class="ticker" href="/stock/shmo#NYSE">SHMO</a>), the Russell Developed ex-U.S. Low Beta ETF (NYSE: <a class="ticker" href="/stock/xlbt#NYSE">XLBT</a>), Russell Developed ex-U.S. Low Volatility ETF (NYSE: <a class="ticker" href="/stock/xlvo#NYSE">XLVO</a>) and the Russell Developed ex-U.S. High Momentum ETF (NYSE: <a class="ticker" href="/stock/xhmo#NYSE">XHMO</a>).

Other Russell funds slated for closure include the following: The Russell Aggressive Growth ETF (NYSE: AGRG), the Russell Consistent Growth ETF (NYSE: <a class="ticker" href="/stock/cong#NYSE">CONG</a>), the Russell Contrarian ETF (NYSE: CNTR), the Russell Equity Income ETF (NYSE: EQIN), the Russell Growth at a Reasonable Price ETF (NYSE: <a class="ticker" href="/stock/grpc#NYSE">GRPC</a>), the Russell Low P/E ETF (NYSE: LWPE), the Russell Small Cap Aggressive Growth ETF (NASDAQ: <a class="ticker" href="/stock/sggg#NASDAQ">SGGG</a>), the Russell Small Cap Consistent Growth ETF (NASDAQ: <a class="ticker" href="/stock/scog#NASDAQ">SCOG</a>), the Russell Small Cap Contrarian ETF (NASDAQ: <a class="ticker" href="/stock/sctr#NASDAQ">SCTR</a>), the Russell Small Cap Low P/E ETF (NASDAQ: <a class="ticker" href="/stock/sclp#NASDAQ">SCLP</a>), the Russell High Dividend Yield ETF (NYSE: <a class="ticker" href="/stock/hdiv#NYSE">HDIV</a>) and the Russell Small Cap High Dividend Yield ETF (NYSE: <a class="ticker" href="/stock/divs#NYSE">DIVS</a>).

"Given challenging equity market conditions since the launch of these products, Russell determined that proposing the liquidation of the passively managed ETFs at this time is in the best interests of the ETFs and their shareholders," Russell said in the statement.

Russell made the announcement after the close of U.S. markets on August 17.

Earlier this month, <a href="http://www.benzinga.com/news/12/08/2812118/russell-investments-reviewing-etf-operations">Russell said it was conducting a strategic review</a> of its U.S. ETF operations. At the time of that announcement, Russell said it would scaling back its U.S. ETF staff, prompting speculation fund closures could be on the way.

Russell joins Direxion and Scottrade's FocusShares in announcing ETF closures in August. Direxion is slated to close nine leveraged products while Scottrade will liquidate all 15 FocusShares ETFs.

For more on ETFs, click <a href="http://www.benzinga.com/etfs">here</a>.

One of the more interesting themes regarding new ETFs to hit the market in 2011 has been the emergence of <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/11/2087737/four-high-volatility-etfs-your-broker-forgot-to-mention">volatility ETFs</a>. 

Some give investors exposure to high beta fare while others focus on <a href="http://www.benzinga.com/trading-ideas/long-ideas/11/10/2001773/four-low-volatility-etfs-your-broker-forgot-to-mention">lowering volatility to appeal to more conservative investors</a>. 

Regardless of a volatility ETF's objective, it is clear investors like these ETFs and there is now a volatility ETF for all seasons. Let's examine 12 volatility funds that are worth watching in the year ahead.

EGShares Emerging Markets High Income/Low Beta ETF (NYSE: <a class="ticker" href="/stock/hilo#NYSE">HILO</a>)
Considering that 2011 has been a tough year for emerging markets, HILO is off to a nice start. The ETF is down about 5% since its August debut, but the combination of dividends and a low volatility emerging markets play has proven alluring as investors have poured over $19 million into the ETF and average daily volume is just under 31,200 shares. One of the preferred low volatility EM options for 2012.

Russell 1000 Low Volatility ETF (NYSE: <a class="ticker" href="/stock/lvol#NYSE">LVOL</a>)
There's a lot to like about this ETF. A low expense ratio (0.2%). It's home to 103 blue chip stocks, none receive a weight greater than 2.15%. The ETF has garnered $34.5 million in AUM since its late May debut. If 2012 is another year where defensive sectors such as staples and utilities thrive, that will be good for LVOL as those two sectors account for over 43% of the ETF's weight.

Russell Dev ex-U.S. Low Volatility ETF (NYSE: <a class="ticker" href="/stock/xlvo#NYSE">XLVO</a>) 
The search for "low vol" ETFs should not be confined to the U.S. and for those looking to emphasize developed markets, XLVO is one ETF to look at. The good news is that the top five country weights – the U.K., Japan, Canada, Switzerland and Australia – are not Euro Zone nations. The bad news is over 18% of the ETF's sector goes to financials.

Russell 2000 Low Beta ETF (NYSE: <a class="ticker" href="/stock/slbt#NYSE">SLBT</a>)
Another new volatility play from Russell Investments, SLBT holds over 370 stocks and is designed to give investors exposure to the lowest beta members of the Russell 2000 Index. As such, SLBT's beta against the Russell 3000 is just 0.87.

iShares MSCI Emerging Markets Minimum Volatility Index Fund (NYSE: <a class="ticker" href="/stock/eemv#NYSE">EEMV</a>)
Just over two months old, EEMV has proven to be one of the more successful new EM ETFs to come to market this year having hauled in almost $30 million in AUM. The expense ratio is favorable at 0.25%, but an almost 21% allocation to financials might not be for all investors. While EEMV is a "low vol" play, it's similar to many multi-country EM ETFs in that Taiwan, China and Brazil figure prominently in the country mix. In this case, that trio gets over 41% of EEMV's weight.

iShares MSCI All Country World Minimum Volatility Index Fund (NYSE: <a class="ticker" href="/stock/acwv#NYSE">ACWV</a>)
Maybe you just need more. More countries and more stocks that is. ACWV is home to 280 stocks. The country allocations are divided among non-Europe developed markets and Asian emerging markets, but be advised the U.S. gets an allocation of over 49%.

PowerShares S&P 500 Low Volatility Portfolio (NYSE: <a class="ticker" href="/stock/splv#NYSE">SPLV</a>)
Let's illustrate how successful SPLV has been among new ETFs in 2011. When wrote about this ETF on October 20, it had just over $432 million in AUM. Today, the PowerShares Web site says the ETF has $819.2 million in AUM. SPLV could be your grandfather's favorite ETF. A low expense ratio at 0.25% and utilities and staples combining for 62% of the ETF's weight make it a conservative investor's dream.

PowerShares S&P 500 High Beta ETF (NYSE: <a class="ticker" href="/stock/sphb#NYSE">SPHB</a>)
SPLV has a "high vol" cousin in the form of the PowerShares S&P 500 High Beta ETF. With $29.2 million in AUM, SPHB can't tough its low volatility in terms of size, but that's a decent total for a new ETF. An almost 34% weight to financials means that group will have to get its act together to make 2012 a profitable one for SPHB.

Russell 2000 High Volatility ETF (NYSE: SHVY)
The Russell 2000 High Volatility ETF fits the bill as a good for traders looking to position themselves for a rebound in small-caps. HVY is home to almost 380 stocks and features large weights to financials, technology, consumer discretionary and health care names.

Russell 1000 High Volatility ETF (NYSE: HVOL)
Or perhaps you prefer the comfort of large caps to go along with your high-beta ETF. We recommend the Russell 1000 High Volatility ETF. We'd like the ETF even more if a third of its sector weight was NOT devoted to financials. At least the energy and tech holdings are familiar and high quality.

iShares MSCI EAFE Minimum Volatility Index Fund (NYSE: <a class="ticker" href="/stock/efav#NYSE">EFAV</a>)
EFAV is just over two months old, but there are signs this ETF will be around a long time. Longer-term investors can enjoy the 0.2% expense ratio. Diversification advocates will like the fact that EFAV has double-digit weights to six sectors. Just be advised that five Euro Zone countries account for about 16% of the new ETF's country weight.

Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>)
Yes, "high beta" is in this ETF's name, but when you dig deeper into it's holdings, this ETF is more brisk jog than skydiving. Most of HBTA's holdings are of the blue chip variety, so this ETF actually has wider appeal than its name implies.

Last month, we took a look at four ETFs specifically designed to limit volatility and turned up some interesting options. As a result of the ETF industry's rapid growth, ETF issuers are coming up with unique ideas and finding interesting niches to fill. 

One of those niches has been funds that specialize in high or low volatility. To be clear, and this was the case with our look at the low volatility funds, we are not looking at sector-specific ETFs. Most investors know that if they want a low volatility sector ETF, they can head to telecom or utilities funds and high volatility plays can be found in the energy and materials sectors, just to a name a pair.

Without further ado, here are four high volatility ETFs your broker forgot to mention.

PowerShares S&P 500 High Beta ETF (NYSE: <a class="ticker" href="/stock/sphb#NYSE">SPHB</a>):
As we noted last month, one of the better new ETFs of 2011 has been the PowerShares S&P 500 Low Volatility Portfolio (NYSE: <a class="ticker" href="/stock/splv#NYSE">SPLV</a>). Well, SPLV has a cousin and its SPHB. Like SPVL, SPHB has an expense ratio of 0.25% and does exactly the opposite of the low volatility fund. SPHB holds 100 S&P 500 stocks that have shown the highest beta over the past year. In a testament to the risk off trade, SPHB has just $11.2 million in assets under management compared to over $432 million for its lower volatility friend.

Russell 1000 High Volatility ETF (NYSE: HVOL):
And as we noted last month, Russell Investments has become one of the top purveyors of beta/volatility-focused ETFs, offering investors an array of funds at both the high and low end of the volatility spectrum. One of the high volatility options is the Russell 1000 High Volatility ETF, which made its debut in late May and has thus far garnered over $4.2 million in AUM.

Home to 111 stocks, HVOL's top sector weights aren't surprises: Finanicials and energy. Top-10 holdings include Schlumberger (NYSE: <a class="ticker" href="/stock/slb#NYSE">SLB</a>), Halliburton (NYSE: <a class="ticker" href="/stock/hal#NYSE">HAL</a>) and American Express (NYSE: <a class="ticker" href="/stock/axp#NYSE">AXP</a>).

Russell 2000 High Volatility ETF (NYSE: SHVY):
SHVY is the small-cap equivalent of HVOL, but SHVY's expense ratio is higher at 0.69% compared to 0.49% for SHVY. Still, SHVY has drawn in $7.7 million in AUM in what has been a tricky environment for small-caps over the past six months. SHVY is home to almost 380 stocks and features large weights to financials, technology, consumer discretionary and health care names.

Russell 1000 High Beta ETF (NYSE: <a class="ticker" href="/stock/hbta#NYSE">HBTA</a>):
HBTA features the same expense ratio as HVOL , fewer holdings (98), but more AUM ($12.7 million). The Russell 1000 High Beta ETF is also a bit more conservative in its posture than HVOL, though not by much. Top-10 holdings include Halliburton, Caterpillar (NYSE: <a class="ticker" href="/stock/cat#NYSE">CAT</a>), Deere (NYSE: <a class="ticker" href="/stock/de#NYSE">DE</a>) and Apple (Nasdaq: <a class="ticker" href="/stock/aapl#Nasdaq">AAPL</a>). 

Bull case:
Obviously all of these funds need the risk on trade to come back on in a big way. The more risk is embraced, the more these ETFs thrive.

Bear case:
The exact opposite of the bull case. If investors run to cash and bonds, these aren't the ETFs you'll want to be around.

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Horizon Funds Horizon Expedition Plus ETF

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