Despite the economic downturn, there is no downturn in the Exchange-Traded Fund (ETF) business.
According to Murray Coleman, managing editor at IndexUniverse.com, 850 ETFs are in registration at the SEC as of January 31st, and there are several new issuers queuing up to get in the business.
The most recent addition is Charles Schwab , which announced on January 30th that they would be getting into ETFs. Their first product: a broad market ETF that would track the Dow Jones U.S. Total Stock Market Index.
Not an original idea, but expect a lot more from them.
What about those other 800 ETFs in registration? Some are quantitative based, but others will be in small niches, including a relatively new entry: single-country ETFs.
Two weeks ago, Global X floated its InterBolsa Colombia ETF , which tracks the Colombian stock market.
They will soon be coming out with Philippines, Peru, Argentina, Egypt and Nordic ETFs.
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