iShares expatriate William Rhind, one of the original team members in Europe for the popular ETF name, has teamed up with three other ETF experts to create yet another ETF firm.
Introducing GraniteShares, the latest addition to the commodity-themed exchange traded fund product line. Their new Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and S&P GSCI Commodity Broad Strategy No K-1 ETF (COMG) launched on Monday.
“GraniteShares is the culmination of our collective experience in the ETF business so far and our dreams for what it can be in the future,” Rhind said of his three partners: Benoit Autier, ex-product management at ETF Securities; Kristen Winther, previously at MSCI and Horizons ETFs and Jeff Klearman, ex-Deutsche Bank and now serving as GraniteShares portfolio manager.
The two new ETFs are benchmarked to the Bloomberg Commodity Index and S&P GSCI Index, respectively. The funds are structured as 40 Act funds, do not issue K-1s, and are two of the lowest cost broad commodity ETFs in the U.S. market with total fund operating expenses of 0.25% and 0.35%.
“With these new ETFs, COMB and COMG, we’re aiming to re-establish the benchmarks for commodity investing in the United States,” says Rhind, who also had a stint as CEO of the world’s biggest commodity ETF, State Street’s SPDR Gold (GLD 211,52 -1,22 -0,57%). “We feel investors have been overpaying for commodity ETFs for too long.”
GraniteShares secured venture capital financing from Bain Capital Ventures and other well-known investors. iShares ‘Expat’ Launches New Commodity Fund
iShares expatriate William Rhind, one of the original team members in Europe for the popular ETF name, has teamed up with three other ETF experts to create yet another ETF firm.
Introducing GraniteShares, the latest addition to the commodity-themed exchange traded fund product line. Their new Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and S&P GSCI Commodity Broad Strategy No K-1 ETF (COMG) launched on Monday.
“GraniteShares is the culmination of our collective experience in the ETF business so far and our dreams for what it can be in the future,” Rhind said of his three partners: Benoit Autier, ex-product management at ETF Securities; Kristen Winther, previously at MSCI and Horizons ETFs and Jeff Klearman, ex-Deutsche Bank and now serving as GraniteShares portfolio manager.
The two new ETFs are benchmarked to the Bloomberg Commodity Index and S&P GSCI Index, respectively. The funds are structured as 40 Act funds, do not issue K-1s, and are two of the lowest cost broad commodity ETFs in the U.S. market with total fund operating expenses of 0.25% and 0.35%.
“With these new ETFs, COMB and COMG, we’re aiming to re-establish the benchmarks for commodity investing in the United States,” says Rhind, who also had a stint as CEO of the world’s biggest commodity ETF, State Street’s SPDR Gold (GLD 211,52 -1,22 -0,57%). “We feel investors have been overpaying for commodity ETFs for too long.”
GraniteShares secured venture capital financing from Bain Capital Ventures and other well-known investors.