The Guggenheim BRIC ETF (EEB) will change its benchmark index to the BNY Mellon BRIC Select DR Index effective 31 October 2013.
“Transitioning to the BNY Mellon BRIC Select DR Index will provide more representative exposure to the BRIC,” says William Belden, managing director at Guggenheim Investments. “We see this as an opportunity to track an index where the capitalisation weights of the four countries – Brazil, Russia, India and China are more appropriately weighted.”
The BNY Mellon BRIC Select DR Index is a modified version of the current BNY ADR BRIC Index. Modifications were made to provide broader exposure to certain countries that have traditionally been underweighted, specifically Russia and India, while also helping to alleviate an overweight to Brazil.
Using a low cost “passive” and “indexing” investment approach, EEB seeks to replicate, before fees and expenses, the performance of an equity index, investing at least 90 per cent of its total assets in American depositary receipts (ADRs) and global depository receipts (GDRs).
The Guggenheim BRIC ETF previously tracked the BNY Mellon BRIC Select ADR Index. The fund’s ticker, EEB, remains unchanged and no action is required by shareholders. In addition, the annual expense ratio will not change.
