Index Universe's Weekly New ETFs Update

Claymore Advisors rolled out five new exchange-traded funds onto the American Stock Exchange on Friday, December 15.

The new funds build on Claymore’s pool of interesting, one-off ETFs, and are:

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The Spin-Off ETF is a quantitatively screened portfolio of companies that have been spun-off from other companies, while the Ocean Tomo Patent ETF focuses on companies with strong pools of intellectual capital. The LGA Green ETF is a quantitatively screened portfolio of companies with strong environmental performance records. Finally, the Claymore/Sabrient Defender ETF is a deep value fund meant to hold its value when markets fall.

For more, see our initial coverage of the launch.

The prospectus is available here.

First Trust Value Line Equity Allocation Fund
The First Trust Value Line Equity Allocation Fund (AMEX: FVI) launched on Friday, December 8. The fund tracks an equal-weighted index of 150 companies chosen by Value Line’s proprietary screening methodology. The fund is equally weighted between the six main style categories (large-cap growth, large-cap value, mid-cap growth, etc.), with the 25 top-ranking stocks for each style making it into the fund. The fund replaced a closed-end-fund, the First Trust/Value Line & Ibbotson Equity Allocation Fund, which was liquidated last week.

The prospectus is available here.

PENDING LAUNCHES

iPath India
Barclays Bank plan to launch a new exchange-traded note [ETN] on December 20 that will offer U.S. investors indexed access to the domestic market of India for the first time ever. The new iPath MSCI India ETN will list on the New York Stock Exchange under the ticker symbol “INP.” The note, which is technically a debt security but trades like a stock, will track a broad-based index of primarily large-cap Indian equities. It will charge 75 basis points in annual expenses, far below the 2+ percent charged by existing India-focused mutual funds.

For more, see our initial coverage here.

PowerShares Three
PowerShares says it will role out three new ETFs onto the AMEX on December 20, with the launch of the Buyback Achievers (AMEX: PKW), Dynamic Deep Value (AMEX: PVM) and Dynamic Aggressive Growth (AMEX: PGZ) funds.

For more, see our initial coverage here.

The prospectus is available here.

NEW FILINGS

Rydex Yen
Rydex filed with the SEC for the right to launch its eighth CurrencyShares ETF. The new Japanese Yen (AMEX: FXY) fund will provide investors an easy way to swap dollars for Yen. It will charge 40 basis points.

For more, see our initial coverage here.

The prospectus is available here.

Here's a running tally of ETFs listed:

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