VROM: And Then There Were Three Automotive Funds
U.S. investors somehow survived for 25 years with just one automotive fund. In the last ten days their choices jumped to three. Global X Advisors rolled out the newest entrant, the Global X Auto ETF (VROM) last Thursday (5/19/11). Global X Auto ETF tries to represent the entire automotive industry. Sub-industry allocations in VROM are currently at 73.9% for Automobile Manufacturers, 20.6% Auto Parts & Equipment, and 5.5% Tires & Rubber. The new ETF provides access to all key components of the automotive industry and offers diversity by including suppliers as well as manufacturers. The underlying S-Network Global Automotive Index is a … Read more