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ETF offering exposure to ETF industry launched

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The ETF Industry Exposure & Financial Services ETF (TETF) begins trading on April 20, 2017, designed to provide investors with a single point of access to the companies driving and participating in the growth of the ETF industry.

TETF will seek to track, before fees and expenses, the price and yield performance of the Toroso ETF Industry Index, which is designed to provide exposure to the publicly traded companies that derive revenue from the ETF industry. This includes ETF sponsors, index and data companies, trading and custody providers, liquidity providers, and exchanges.

As background to the ETF, the firm writes that ETFs and the industry have experienced significant growth over the past five years, as their assets have grown in the US from USD1.2 trillion to USD2.7 trillion; the number of US ETF sponsors has increased from 45 to 78; and the average ownership of US equities by ETFs has more than tripled.

The Index is overseen by an Index Committee made up of industry veterans, including Mike Venuto (pictured), CIO of Toroso Investments; Guillermo Trias, CEO of Toroso Investments; Linda Zhang, Founder of Purview Investments; Kris Monaco, Founder of Level ETF Ventures; and Kevin Carter, Founder of Big Tree Capital.

The firm writes that this group has decades of ETF industry experience covering a range of functions including index creation, ETF portfolio construction, investment management, distribution, research, trading and more.

“Not only are we seeking to capture the performance of the industry, but we’re also looking to bring together many of its leaders to leverage their authority as we monitor, research, and benchmark the category’s potential future growth,” says Trias, who created the concept and the idea behind the ETF.

“We have deep roots in the ETF ecosystem and have created an Index that captures the dynamism of ETFs and the disruptive innovation they have brought to the financial services industry,” says Venuto.

“Clearly, investors and advisors now understand the benefits of the ETF structure, including improved liquidity, tax efficiency, and increased transparency. But while they’ve been able to incorporate those benefits into their portfolios, they have not had opportunities to participate in the growth of the ETF industry itself. That is an issue we’ve solved with the launch of the Toroso ETF Industry Index and TETF,” Venuto says.

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