Last week, the ASX welcomed yet another new exchange-traded fund (ETF) to its boards. Yes, Thursday saw the float of the BetaShares Future of Food ETF (ASX: IEAT). So now that this new ETF is five trading days into its new ASX life, it might be a good time to check how it’s faring.
According to provider BetaShares, this new IEAT ETF is designed as follows:
The BetaShares Future of Food ETF (ASX: IEAT) provides a convenient, cost-effective way to access the growth potential of the ‘future of food’ revolution, a segment of the global food industry that focuses on more sustainable, humane and healthier ways to produce the food we eat.
IEAT aims to track the performance of an index (before fees and expenses) that provides exposure to a portfolio of some of the world’s most innovative companies in the areas of global food production and supply.
This ETF charges an annual management fee of 0.67% per annum. Its current top holdings include Danone SA, Archer-Daniels-Midland Co, International Flavors & Fragrances Inc, Bunge Ltd and FMC Corp. It has a fairly large weighting to the United States at 53.2% of the underlying portfolio as it currently stands. But other countries like Sweden (11.4%), Denmark (8.6%), Japan (3.3%) and Britain (2.2%) are also present.
The ASX welcomes another new ETF
IEAT tracks the Foxberry Next Generation Foods USD Net Total Return Index, which has struggled in recent years. As of 31 May, it had gone backwards by 16.55% over the preceding 12 months, but had netted a positive 4.76% per annum on average over the past five years.
So how has IEAT fared?
Well, this ETF began life at around $11.83 per unit last Thursday. By the end of its first trading day, it had slipped slightly to $11.82. But today, IEAT units are being priced at $11.87. That’s up 1.02% for the day so far, and represents a gain of 0.34% from its listing price.
But IEAT may not be the last new ETF we get from BetaShares in 2022. According to the provider, two new energy-based ETFs are coming to the ASX “soon”. These will be the BetaShares Solar ETF (ticker code to be TANN), and the BetaShares Global Uranium ETF (ticker URNM).
So lots to keep an eye out for in the ASX exchange-traded fund space over the next few months.
The post 1 week in: Here’s how the ASX’s newest ETF is tracking appeared first on The Motley Fool Australia.
Should you invest $1,000 in BetaShares Future of Food ETF right now?
Before you consider BetaShares Future of Food ETF, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BetaShares Future of Food ETF wasn’t one of them.
The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of January 13th 2022
- Zip share price tumbles 6% as Apple Pay Later threat looms large
- Why is the GrainCorp share price racing higher today?
- Australian competition watchdog goes up against Nasdaq giant. Here’s why
- The Bank of Queensland share price just hit a 52-week low. Time to buy?
- 3 ASX 200 shares cracking new 52-week highs on Wednesday
Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/qZBOg82