VelocityShares has filed paperwork with the SEC for a “VelocityShares Russia Select Depositary Receipt ETF.” The VelocityShares Russia Select Depositary Receipt ETF seeks investment results that replicate as closely as possible, before fees and expenses, the performance of its underlying index, the BNY Mellon Russia Select DR Index. They did not specify a trading symbol or expense ratio in the initial filing.
Principal Investment Strategies
ALPS Advisors, Inc. (the “Adviser”) will seek to match the performance of the Underlying Index. The Underlying Index is an index designed to track the performance of depositary receipts of companies located in Russia. The Underlying Index is comprised of U.S. exchange-listed American Depositary Receipts (“ADRs”) and London Stock Exchange (“LSE”)-traded Global Depositary Receipts (“GDRs”). The Fund seeks investment results that correspond generally to the performance, before fees and expenses of the Underlying Index by investing in ADRs and GDRs which comprise the Underlying Index.
Depositary receipts are issued by a bank that purchases shares of a non-U.S. company and issues shares based on the foreign holdings. ADRs are depositary receipts that trade on a U.S. exchange and thus are subject to registration and disclosure requirements under the Securities Acts of 1933 and Securities Exchange Act of 1934, each as amended. GDRs are depositary receipts which trade on the LSE.
For the complete filing click: HERE