OppenheimerFunds on Thursday launched three revenue-weighted exchange-traded funds that focus on emerging, global and international markets, respectively. All three funds seek to outperform their particular MSCI index.
The Oppenheimer Emerging Markets Revenue ETF (REEM) is tied to the MSCI Emerging Markets Index and comes with an expense ratio of 0.46 percent.
The Oppenheimer Global Revenue ETF (RGLB) tracks the MSCI All Country World Index and has an expense ratio of 0.43 percent.
The Oppenheimer International Revenue ETF (REFA) follows the MSCI EAFE Index and sports an expense ratio of 0.42 percent.
All three funds are weighted by their trailing 12-month top-line revenue, rather than by their market capitalization. There’s a 5 percent maximum portfolio weight for any one issuer, and the funds are rebalanced quarterly.
The new ETFs join OppenheimerFunds’ existing suite of seven revenue-weighted ETFs.