Claymore to launch Morningstar ETFs

Morningstar Inc. has announced that Claymore Securities Inc. has licensed three Morningstar Super Sector Indexes to create three new exchange traded funds.
MAY 15, 2007
By  Bloomberg
Morningstar Inc. has announced that Claymore Securities Inc. has licensed three Morningstar Super Sector Indexes to create three new exchange traded funds. Lisle, Ill.-based Claymore said that it filed a registration statement with the Securities and Exchange Commission today, making the funds the first to track the Morningstar Super Sector Indexes. The indexes divide the U.S. equity universe into one of three broad super sectors: manufacturing, services, and information. The Morningstar Sector Index family consists of 15 indexes—three Super Sector Indexes and 12 Sector Indexes—that track 97% of the U.S. equity market by market capitalization. Companies are assigned to sectors based on their primary source of revenues. "Investors recognize that sector diversification is important, but the sheer number of sectors makes it difficult for them to track and allocate their holdings evenly across industries," said Christian Magoon, senior managing director at Claymore, according to a statement. "Our new ETFs based on the Morningstar Super Sector Indexes allow investors the opportunity to gain broader sector exposure or the potential to add balance to a concentrated portfolio." "Just looking at super sectors or subsectors can be a bit overwhelming," said Arijit Dutta, research analyst at Morningstar's index group. "These three super sectors produced meaningful differences in performance that can be exploited." Morningstar is based in Chicago.

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.