There's an interesting potential trade here: arbitraging high-cost ETFs and low-cost ETFs. With straight index ETFs, it should be possible to combine a set of high-cost sector ETFs into a broader index which is tracked by a low-cost ETF. By shorting the basket of high-cost ETFs against a long position in the low-cost ETF, you can then arbitrage the difference in expense ratios. The challenge to this, however, may be the spreads: the narrower ETFs are more thinly traded, so the buy-sell spreads may be larger. Also, this may not work with some of the more exotic ETFs from PowerShares etc. which don't track standard indices.
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There's an interesting potential trade here: arbitraging high-cost ETFs and low-cost ETFs. With straight index ETFs, it should be possible to combine a set of high-cost sector ETFs into a broader index which is tracked by a low-cost ETF. By shorting the basket of high-cost ETFs against a long position in the low-cost ETF, you can then arbitrage the difference in expense ratios. The challenge to this, however, may be the spreads: the narrower ETFs are more thinly traded, so the buy-sell spreads may be larger. Also, this may not work with some of the more exotic ETFs from PowerShares etc. which don't track standard indices.
Nov 01 01:51 am
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