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Brand-new ETF provider U.S. One Trust of Nevada has introduced a fund-of-funds ETF that will invest in other ETFs to achieve its objective of giving investors global equity exposure.

The One Fund (NYSEARCA:ONEF) will invest in ETFs tracking various indexes that include large-, mid- and small-capitalization companies in the United States, Europe, Asia and various emerging markets. The fund will benchmark its performance to that of the S&P 500.

ONEF will have no limits on percentages of assets that can be invested in ETFs focused on foreign securities, including in the emerging markets, reports Oliver Ludwig for Index Universe.

Bank of New York Mellon will serve as the fund’s administrator and custodian. Here is their filing.

Source: New Provider U.S. One Offers Fund-of-Funds ETF