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Exchange-traded fund provider Global X is planning to launch two exchange traded funds – one focused on the luxury goods market and the other employing a US equity sector rotation strategy – according to regulatory filings.
The proposed Global X FTSE Luxury Consumer ETF will focus on publicly traded companies whose business is “the provision of global luxury goods and services,” according to the prospectus.
The funds underlying index could include manufacturers and retailers of luxury goods; providers of travel- and leisure-related goods and services; and providers of professional services.
The Global X| JPMorgan US Sector Rotator Index ETF will track an index of ETFs that rebalances monthly. The index’s holdings are selected each month from the nine Select Sector SPDR ETFs, the SPDR Dow Jones REIT ETF and the iShares 1-3 Year Treasury Bond ETF.
The prospectus says: “Each month, the performance of each of the ten US sector constituents during the prior month is calculated and the five US sector constituents with the highest positive performance are selected for inclusion in the underlying index and are each assigned a preliminary weight of 20 per cent. If fewer than five US sector constituents have positive performance during the prior month, the bond constituent will be selected for that month in addition to the US sector constituents with positive performance, and assigned a preliminary weight equal to the remaining portion of the index weight.”
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