If you think that the share price of retail giant Wal-Mart will recover from its malaise, then you might also be interested in buying into what looks to be one of the first Wal-Mart Exchange Traded Funds. Then again, if you've heard about the bargaining power that Wal-Mart has and uses to push down the cost of items purchased from its suppliers, you might think twice about putting money into the MyShares Wal-Mart ETF.
According to our partners at Dow Jones, the Montvale, NJ-based company MyShares is launching an ETF that invests in Wal-Mart's suppliers.
I took a look at the SEC filing by MyShares and found this description: The fund will "normally invest at least 90% of its total assets in stocks of companies that derive a substantial portion of revenue from Wal-Mart Stores, Inc."
The ETF is "designed to exploit a unique situation where the world's largest retailer has spawned a sub-industry of dependent companies, including many that are common household names."
The filing doesn't name the companies in the index. I left a message with MyShares head Erik Liik to find out more but haven't heard back as yet. I'll keep you posted.
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