The folks at a fund firm with nearly $70 billion in ETF AUM have rolled out another thematic ETF, one focused on the global supply chain.
| Michael Lynn Sapir|
ProShare Advisors, ProFund Advisors
On Friday, Michael Sapir
, founder and CEO of ProShares
of the ProShares Supply Chain Logistics ETF
(SUPL on the NYSE Arca
). The passive fund is a series of the ProShares Trust
, and Thursday was its inception date.
The new fund comes with an expense ratio of 58 basis points. It is designed to track the FactSect Supply Chain Logistics Index
, from index provider FactSet Research Systems, Inc.
. ProShare Advisors serves as the fund's investment advisor, and Scott Hanson
and Alexander Ilyasov
serve as its PMs.
"The pandemic didn't just highlight the crisis facing the global supply chain, it identified a ripe opportunity to invest in the companies striving to provide real solutions and embrace new technologies that may revolutionize global trade," Sapir states. "SUPL may provide investors with exposure to the companies contributing to this long-term transformation."
The new fund's other service providers include: Citi Fund Services Ohio, Inc.
as trust administrator; Foreside Management Services, LLC
as provider of a principal financial officer and treasurer; J.P. Morgan Chase Bank, N.A.
as administrator, custodian, index receipt agent, and securities lending agent; PricewaterhouseCoopers LLP (PwC
) as independent accounting firm; and Ropes & Gray LLP
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