ETFs have increasingly been of interest to pension funds as an alternative to mutual funds (See Special Report: ETFs: Exchange Rates ).
According to a Barclays news release about the new product, the new funds’ annual expense ratios are 0.48%. The new ETFs offered by Barclays are:
- iShares S&P Global Consumer Discretionary Sector Index Fund (RXI)
- iShares S&P Global Consumer Staples Sector Index Fund (KXI)
- iShares S&P Global Industrials Sector Index Fund (EXI)
- iShares S&P Global Utilities Sector Index Fund (JXI)
- iShares S&P Global Materials Sector Index Fund (MXI)
“iShares are the only ETFs that provide global sector exposure and these new funds round out the family,” said Lee Kranefuss, CEO of BGI’s Intermediary and ETF Business, in the news release. Lee added that global sector investing allows investors to get exposure to “a broader set of the largest companies in a sector.”