XShares Advisors announced a reorganization of its flagship family of HealthShares ETFs.
XShares will close 15 of the 19 HealthShares ETFs due to a lack of investor interest. The last day of trading for the funds will be September 19, 2008.
The 4 remaining ETFs will be based on redesigned indexes that expand the number of companies held from as few as 22 to between 40 and 100. The remaining ETFs will also incur a lower expense ratio beginning October 1.
The remaining ETFs include:
• HealthShares Cancer Exchange Traded Fund (HHK)
• HealthShares European Drugs Exchange Traded Fund (HRJ)
• HealthShares Diagnostics Exchange Traded Fund (HHD)
• HealthShares Enabling Technologies Exchange Traded Fund (HHV)
(to be renamed HealthShares Drug Discovery Tools Exchange Traded Fund)
XShares believes that investor demand exists for healthcare ETFs that focus on innovation by small and mid-sized companies. XShares expects to bring the HealthShares Asian Health ETF to market in the coming months.