Claymore to launch Morningstar ETFs

Morningstar Inc. has announced that Claymore Securities Inc. has licensed three Morningstar Super Sector Indexes to create three new exchange traded funds.
MAY 15, 2007
Morningstar Inc. has announced that Claymore Securities Inc. has licensed three Morningstar Super Sector Indexes to create three new exchange traded funds. Lisle, Ill.-based Claymore said that it filed a registration statement with the Securities and Exchange Commission today, making the funds the first to track the Morningstar Super Sector Indexes. The indexes divide the U.S. equity universe into one of three broad super sectors: manufacturing, services, and information. The Morningstar Sector Index family consists of 15 indexes—three Super Sector Indexes and 12 Sector Indexes—that track 97% of the U.S. equity market by market capitalization. Companies are assigned to sectors based on their primary source of revenues. "Investors recognize that sector diversification is important, but the sheer number of sectors makes it difficult for them to track and allocate their holdings evenly across industries," said Christian Magoon, senior managing director at Claymore, according to a statement. "Our new ETFs based on the Morningstar Super Sector Indexes allow investors the opportunity to gain broader sector exposure or the potential to add balance to a concentrated portfolio." "Just looking at super sectors or subsectors can be a bit overwhelming," said Arijit Dutta, research analyst at Morningstar's index group. "These three super sectors produced meaningful differences in performance that can be exploited." Morningstar is based in Chicago.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline