QuantShares, the money manager that currently has an ETF lineup
of seven market-neutral funds, filed paperwork earlier this month
with the Securities and Exchange Commission to put six more
equities ETFs into registration that use "smart beta" screens to
focus on a variety of factor-based investment themes.
QuantShares in some ways looks to be filling a void left by
Russell Investments, which decided last month to shutter its lineup
of 25 "intelligent beta" ETFs focused on everything from volatility
to beta to momentum. It has $220 million in the ETFs, which will be
completely liquidated by Oct. 24. It had $310 million in the funds
as of July 31.
Investors have definitely shown interest in factor-based ETFs,
though that interest is uneven. Volatility so far has easily been
the most prospective area for fund sponsors, as the rapid asset
gathering of the now-$2.46 billion PowerShares S&P 500 Low
Volatility Portfolio (NYSEArca:SPLV) has clearly demonstrated since
it came to market in May 2011.
The six new proposed funds QuantShares put into registration are
as follows:
- QuantShares U.S. High Dividend Absolute Return Fund
- QuantShares U.S. High Momentum Fund
- QuantShares U.S. High Quality Fund
- QuantShares U.S. Low Beta Absolute Return Fund
- QuantShares U.S. Low Beta Fund
- QuantShares U.S. Relative Value Fund
The company didn't include ticker symbols or expense ratios in
the paperwork, but did suggest the funds would have primary
listings on Arca, the New York Stock Exchange's electronic trading
platform.
The company's existing funds and the assets in those funds are
as follows:
- QuantShares U.S. Market Neutral Momentum Fund (NYSEArca:MOM),
$5.06 million
- QuantShares U.S. Market Neutral Size Fund (NYSEArca:SIZ),
$6.13 million
- QuantShares U.S. Market Neutral Quality Fund (NYSEArca:QLT),
$3.41 million
- QuantShares U.S. Market Neutral Anti-Momentum Fund
(NYSEArca:NOMO), $3.23 million
- QuantShares U.S. Market Neutral Value Fund, (NYSEArca:CHEP),
$3.54 million
- QuantShares U.S. Market Neutral Beta Fund, (NYSEArca:BTAH),
$4.8 million
- QuantShares U.S. Market Neutral Anti-Beta Fund,
(NYSEArca:BTAL), $25.4 million
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