State Street May Add To The Hedge Fund ETF Mix

The ETF Professor has found the advent of ETFs designed to give investors exposure to a hedge fund style of investing to be an interesting proposition. These ETFs use a portfolio of multiple ETFs to deliver returns similar to hedge fund strategies. State Street Global Advisors has filed to launch the the SPDR AlphaSimplex Absolute Beta ETF. The new offering would track a rules-based index that invests in equity, currency, commodity and bond ETFs. The ETF Professor has mentioned some ETFs from IndexIQ in the past and State Street's new ETF would be most easily compared to IndexIQ's IQ Hedge Multi-Strategy Tracker ETF (NYSE: QAI), which has $68 million in assets. State Street also filed to launch a commodity futures fund tied to the DJ-UBS Commodity Index. The Professor reminds you that filings for new ETFs doesn't mean they'll be on the market anytime soon.