Global X Enters Auto ETF Race With Launch Of VROM

Global X announced the latest expansion to its rapidly-growing product lineup today, rolling out a fund designed to deliver exposure to the global automotive industry. The Global X Auto ETF (VROM) will seek to replicate a benchmark of companies that are engaged in the production of automobiles, automobile parts, tires and related activities, including fifty of the largest and most actively traded companies worldwide that are principally engaged (derive greater than 50% of revenues from sources listed above) in the automobile industry. The underlying S-Network Global Automotive Index makes its largest country allocations to traditional auto powerhouses; Germany, Japan, and the U.S. all account for about 23% of the underlying portfolio, while Toyota, Daimler, and Ford are among the largest individual components. In addition to heavy weightings in some of the world’s largest producers of automobiles, the fund will also offer exposure to smaller companies that develop automotive parts, potentially giving investors a more [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Filings: Real Return, Equal Weighting, Mortgage REIT Funds On Tap First Trust Wins Auto ETF Race, Debuts CARZ