The ETFS Physical Precious Metals Basket Shares ETF
(GLTR) began trading on last Friday, Oct. 22, offering investors with a penchant for precious metals access to a physically backed collection of gold, silver, platinum, and palladium, reports Morningstar
The WSJ previouslyreported
on the new precious metals EFT.
ETFS will charge an expense ratio of 60 basis points, going head-to-head with PowerShares DB Precious Metals (75 bps expense ratio) [ [see profile]
] and iPath DJ-UBS Precious Metals ETN
(75 bps expense ratio), both of which have exposure to gold and silver in the form of futures contracts.
The fund's management company, ETF Securities
, has named its new offering "Glitter" after both its ticker symbol and its investment mandate.
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