Gen Cap Ventures' FactorShares
filed paperwork for three mining-linked ETFs, according to a report from IndexUniverse
These new offerings are the first move from FactorShares since it was acquired by Gen Cap in July.
reporter Cinthia Murphy writes that all three ETFs would charge 69 basis points in expense rations and would replicate ISE benchmarks that track U.S. and foreign companies.
The PureFunds ISE Diamond/Gemstone ETF
(NYSEArca: GEMS), PureFunds ISE Mining Service ETF
(NYSEArca: MSXX) and PureFunds ISE Junior Silver ETF
(NYSEArca: SILJ) will compete with existing mining-based funds like SPDR S&P Metals and Mining ETF
], Market Vectors Rare Earth/Strategic Metals ETF
], and iShares MSCI Global Select Metals & Mining Producers Index Fund
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