MarketVectors has filed a prospectus with the US Securities and Exchange Commission (SEC) for an Israel-focused exchange-traded fund.
The proposed MarketVectors Israel ETF, which according to the filing would list on the NYSE Arca under the ticker ISRA and have an expense ratio of 0.59 per cent, will track the BlueStar Israel Global Index.
According to the prospectus, the index is “a rules based, modified capitalisation, free-float adjusted weighted index intended to give investors a means of tracking the overall performance of publicly traded companies that are generally considered to be Israeli companies”.
As of 1 March, the index included 94 securities of companies with a market capitalisation range of between approximately USD133m and USD35.1bn and an average market capitalisation of USD1.9bn.
