Van Eck Global files with SEC to launch 6 sector ETFs

08/14/2011 | AdvisorOne · ·

Van Eck Global filed with the Securities and Exchange Commission to offer six sector exchanged-traded funds that would be created by converting Merrill Lynch-backed holding company depositary receipts, commonly called HOLDRs, into ETFs. The ETFs would cover the biotech, money-center, oil-services, pharmaceutical, retail and semiconductor sectors. The ETFs would have 0.35% expense ratios and trade on NYSE Arca.

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