June 20, 2012 at 07:00 AM EDT
New Metals ETF (USMI) Debuts
United States Commodity Funds announced this week the debut of an ETF that offers exposure to a basket of metals futures contracts, giving investors seeking exposure to this corner of the commodities market a new tool at their disposal. The United States Metals Index Fund (USMI) will seek to replicate the SummerHaven Dynamic Metals Index Total Return, a benchmark that shifts exposure between various contracts based on market conditions. USMI will be unique in that it will offer exposure to both industrial and precious metals. While there are a number of products in both the Metals and Precious Metals ETFdb Categories, there are few existing exchange-traded products that combine these asset classes. Specifically, the underlying index will include six base metals and four precious metals: Aluminum Copper Zinc Nickel Tin Lead Gold Silver Platinum Palladium Each metal will be assigned a “base weight” based on liquidity and overall market importance. [...] Click here to read the original article on ETFdb.com. Related Posts: USCF Debuts Agriculture ETF (USAG) USCF Offers New Type Of Copper ETF (CPER) How To Buy The Best Copper ETF Copper ETF (CPER) Cuts Fees April Roundup: Launches, Filings, and Closures
United States Commodity Funds announced this week the debut of an ETF that offers exposure to a basket of metals futures contracts, giving investors seeking exposure to this corner of the commodities market a new tool at their disposal. The United States Metals Index Fund (USMI) will seek to replicate the SummerHaven Dynamic Metals Index Total Return, a benchmark that shifts exposure between various contracts based on market conditions.  USMI will be unique in that it will offer exposure to both industrial and precious metals. While there are a number of products in both the Metals and Precious Metals ETFdb Categories, there are few existing exchange-traded products that combine these asset classes. Specifically, the underlying index will include six base metals and four precious metals:  Aluminum Copper Zinc Nickel Tin Lead Gold Silver Platinum Palladium Each metal will be assigned a “base weight” based on liquidity and overall market importance. [...]

Click here to read the original article on ETFdb.com.

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