U.S. Global Investors begun trading the U.S. Global Jets ETF (NYSE Arca: JETS) on Thursday, April 30, 2015.
Here is a synopsis of the new ETF:
|Symbol: JETS||Exchange: NYSE Arca|
|Name: U.S. Global Jets ETF||Net Expense Ratio: 0.60%|
The U.S. Global Jets ETF seeks to track the performance, before fees and expenses, of the U.S. Global Jets Index.
The U.S. Global Jets Index tracks the performance of Airline Companies across the globe with an emphasis on domestic passenger airlines. The universe of Airline Companies is screened for investibility (e.g., must be listed on a major securities exchange), a minimum market capitalization of $100m, and liquidity (minimum average daily value traded). The Index is rebalanced and reconstituted quarterly in March, June, September, and December. At the time of each reconstitution of the Index, the 4 largest U.S. passenger airline companies, as measured primarily by their market capitalization and, to a lesser extent, their passenger load factor, receives a 12% weighting allocation of the Index. Each of the next 5 largest U.S. passenger airline companies receives a 4% weighting allocation of the Index. The remaining Airline Companies meeting the Index criteria are then scored based on multiple fundamental factors. Their score is primarily driven by their cash return on invested capital (CROIC) with additional inputs based on sales per share growth, gross margins, and sales yield. Each of the 4 U.S.companies with the highest composite scores receives a 3% weighting allocation of the Index, and each of the 20 non-U.S. companies with the highest composite scores receives a 1% weighting allocation of the Index.
Index Top Components (05/08/15):
|ELTA AIR LINES INC DEL||DAL||12.35%|
|SOUTHWEST AIRLS CO||LUV||11.74%|
|AMERICAN AIRLS GROUP INC||AAL||11.17%|
|UNITED CONTL HLDGS INC||UAL||11.17%|
|JETBLUE AIRWAYS CORP||JBLU||4.53%|
|ALASKA AIR GROUP INC||ALK||4.03%|
|VIRGIN AMER INC||VA||3.81%|
|SPIRIT AIRLS INC||SAVE||3.53%|
|ALLEGIANT TRAVEL CO||ALGT||3.49%|
|HAWAIIAN HOLDINGS INC||HA||3.37%|