NEW YORK--(BUSINESS WIRE)--GraniteShares, a new, disruptive ETF company that is fully funded, independent and poised to bring a suite of exciting ideas to market, officially launches today.
With almost 50 years of collective experience, the team is led by established ETF entrepreneur William Rhind, Founder and CEO. Rhind was formerly a Principal at iShares and one of the original team members in Europe. He also served as Head of ETF Securities in the U.S. and CEO of the world’s largest commodities fund, the SPDR Gold Shares ETF (NYSE Arca: GLD).
Benoit Autier, whose previous experience includes product management at ETF Securities, is the Head of Products. Kristen Winther, previously at MSCI and Horizons ETFs, is the Director of Product Development. Jeff Klearman, coming from Rich Investment Solutions and Deutsche Bank, serves as the firm’s Portfolio Manager.
Today, two flagship commodity ETFs begin trading on the New York Stock Exchange:
- GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (ticker: COMB)
- GraniteShares S&P GSCI Commodity Broad Strategy No K-1 ETF (ticker: COMG)
These ETFs are benchmarked to the Bloomberg Commodity Index and S&P GSCI Index, respectively. The funds are structured as 40 Act funds, do not issue K-1s, and are two of the lowest cost broad commodity ETFs in the U.S. market with total fund operating expenses of 0.25% and 0.35%, respectively.
“I’m thrilled to officially launch GraniteShares. It’s been an incredible effort by the team to get our company and funds ready for today. GraniteShares is the culmination of our collective experience in the ETF business so far and our dreams for what it can be in the future,” Rhind said. “With these new ETFs, COMB and COMG, we’re aiming to re-establish the benchmarks for commodity investing in the United States. We feel investors have been overpaying for commodity ETFs for too long. GraniteShares wants to change that. Investors can now access funds with benchmarks to the Bloomberg Commodity and S&P GSCI indexes.”
The firm’s ambitious business plan caught the eyes of leading investors early on. The company secured venture capital financing from Bain Capital Ventures and other well-known investors.
About GraniteShares
GraniteShares is an independent, fully funded ETF company headquartered in New York City. The firm seeks to launch disruptive ETFs. GraniteShares’ focus is on products that bring the excitement back to investing, using new ideas, innovative structures and low cost. William Rhind, Founder and CEO, is an established ETF entrepreneur with more than 16 years of experience in the industry.
Disclosures
Investing involves risk, including the possible loss of principal. Commodities and futures are speculative, highly volatile and may not be suitable for all investors. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program. The investment program of the funds are speculative, entails substantial risks and include asset classes and investment techniques not employed by more traditional mutual funds.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747, email info@graniteshares.com, or visit the website at www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.
Indexes are unmanaged and it is not possible to invest directly in an index.
Bloomberg Commodity Index: Bloomberg Commodity Index is a financial benchmark designed to provide liquid and diversified exposure to physical commodities via futures contracts. The weightings of the components of the BCOM Benchmark are based on (1) liquidity data, which is the relative amount of trading activity of a particular commodity; (2) production data, which measures the importance of a commodity to the world economy; and (3) diversification rules that attempt to reduce disproportionate weightings of any single commodity.
The S&P GSCI Index is recognized as a leading measure of general price movements and inflation in the world economy. The index – representing market beta – is world production weighted. It is designed to be investable by including the most liquid commodity futures, and provides diversification with low correlations to other asset classes.
The GraniteShares ETFs are distributed by Foreside Fund Services, LLC. GraniteShares is not affiliated with Foreside Fund Services, LLC.
