ETF Times: December 13-17

The European market saw the launch of its first religious ETF, soft commodity ETCs enjoy a strong week, Turkish equities underperform, and more

Morningstar ETF Analysts 21 December, 2010 | 6:07PM
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New Launches
db x-trackers launched a new faith-based ETF on the Deutsche Borse. It's the first ETF in Europe with an underlying religious theme. The ETF tracks the performance of the STOXX Europe Christian Index, which includes stocks from the STOXX Europe 600 which have been vetted by an independent Christian faith commission. Certain activities including arms trading and gambling will make a company from ineligible for inclusion in the index.

db x-trackers has also launched the Global Fund Supporters ETF. The ETF tracks the performance of the Dow Jones Global Fund 50 Index, which includes companies that support the fight against AIDS, tuberculosis, and malaria. Management revenues will go into the same fund, after the ETF's expenses are covered.

ESAF (Espirito Santo Activos Financeiros) launched an ETF tracking Iberian equities on the NYSE Euronext. The ETF tracks the performance of the NYSE Euronext Iberian Index, which is comprised of 30 stocks, including the 20 most liquid listed shares on the Bolsa de Madrid, and the ten most liquid equity issues on Euronext Lisbon. The weight of each stock is capped at a maximum of 10% of the index’s value.

Best and Worst Performers for the Week of December 13-17
ETCs linked to soft commodities populated an outsized portion of the list of last week’s best performing exchange-traded products. Cotton prices spiked higher on the back of forecasts for a smaller than anticipated crop out of India--the world’s second largest producer--and strong demand from China. Sugar prices also climbed as output from Brazil’s largest producing region plummeted from year-ago levels.

Natural gas prices slipped last week as US inventories continue to remain well above historical levels. Turkish equities finished the week lower. The country’s central bank increased bank reserve ratios in an effort to reign in credit growth.

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Morningstar ETF Analysts  research hundreds of ETFs available to European investors. The Morningstar Rating for ETFs is based on a risk-adjusted performance measure.

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