New Jersey-based ETF firm, FocusShares, will launch 15 new equity funds, Index Universe reports. The new vehicles will use float-adjusted market capitalization indexes of Morningstar and cover every investment sector and style in the U.S. equities universe.
The planned ETFs include the Focus Morningstar U.S. Market Index ETF, the Focus Morningstar Large Cap Index ETF, the Focus Morningstar Basic Materials Index ETF, and the Focus Morningstar Communications Services Index ETF. The ETF firm, headed by Erik Liik, became a unit of St. Louis-based online discount trading firm, Scottrade, in June 2010.
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