) iShares unit, the world's largest ETF issuer, plans to
introduce the iShares MSCI Colombia Capped ETF on Thursday. The
new ETF will trade on the New York Stock Exchange under the
ticker "ICOL" and feature an annual expense ratio of 0.61
ICOL will track the MSCI All Colombia Capped Index, which is a
free-float adjusted market capitalization-weighted index. That
means no individual component can exceed 25 percent of the
index's weight. The index had 25 constituents as of April 30,
according to a filing
with the Securities and Exchange Commission.
ICOL will be the third ETF devoted exclusively to South
America's second-larges economy available to U.S. investors. The
oldest and largest is the Global X FTSE Colombia 20 ETF (NYSE:
), which has almost $150 million in assets under management. The
Market Vectors Colombia ETF (NYSE:
) has $2.6 million in AUM.
Both GXG and COLX are heavy on energy, financial services and
materials names. GXG allocates almost 59 percent of its weight to
those sectors while COLX devotes about 83 percent of its weight
to those group. GXG and COLX have annual fees of 0.68 and 0.75
ICOL joins successful iShares South America-focused
such as the iShares MSCI Brazil Capped Index Fund (NYSE:
), the iShares MSCI Chile Investable Market Fund (NYSE:
) and the iShares MSCI All Peru Capped Index Fund (NYSE:
For more on ETFs, click
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