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Global X is simplifying the moniker of its hedge-fund replicating exchange traded fund as the provider files to expand a line of hedge fund "Guru" ETFs.

The Global X Guru Index ETF (NYSEARCA:GURU), formerly known as the Global X Top Guru Index Holdings Index Fund, began trading under the new appellation Monday, according to a SEC filing.

The GURU ETF tries to reflect the performance of the Solactive Guru Index, which is comprised of the top U.S.-listed equity positions reported on Form 13F by a select group of hedge funds.

The SEC Form 13F, or Information Required of Institutional Investment Managers Form, is a quarterly filing required of institutional managers with over $100 million in qualifying assets. The filing contains information on the manager's list of recent investing holdings, which provide the public a glimpse of how the heavy weights are moving around the changing markets.

However, since GURU's holdings are based on numbers from the previous quarter, the ETF's positions may become stale in a quickly changing market.

GURU has outperformed the broader market, gaining 39.3% year-to-date, compared to the 25.5% rise in the S&P 500 index.

Additionally, the SEC filing reveals that Global X is planning the Global X Guru Value Index ETF and the Global X Guru Activist Index ETF.

The Guru Value ETF will try to reflect the performance of the Solactive Guru Value Index, which is comprised of U.S.-listed equity positions reported on Form 13F from a select group characterized as premier value investors. Value investors buy securities that appear undervalued based on fundamental analysis. The ETF will have a 0.65% expense ratio.

The Guru Activist ETF will try to reflect the performance of the Solactive Guru Activist Index, which is comprised of U.S.-listed equity positions reported on Form 13F from a select group characterized as premier activist investors. Activist investors buy securities to put pressure on its management to increase shareholder value. The ETF will have a 0.75% expense ratio.

Max Chen contributed to this article.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Source: Global X Gives Guru ETF Facelift, Proposes Hedge Fund Suite