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 (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 (MOM), $5.06 million
- QuantShares U.S. Market Neutral Size Fund (SIZ), $6.13 million
- QuantShares U.S. Market Neutral Quality Fund (QLT), $3.41 million
- QuantShares U.S. Market Neutral Anti-Momentum Fund (NOMO), $3.23 million
- QuantShares U.S. Market Neutral Value Fund, (CHEP), $3.54 million
- QuantShares U.S. Market Neutral Beta Fund, (BTAHF), $4.8 million
- QuantShares U.S. Market Neutral Anti-Beta Fund, (BTAL), $25.4 million
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