HSBC launches new s&p ETF

http://www.investmentweek.co.uk/investment-week/news/1648649/hsbc-launches-s-p-500-etf-tracker

15bps expense ratio

 

Isn't that worse than SPY? What's the point?

 

Exactly! SPY 9bps

 

You get a reacharound

 

Here's a perfect example why Federal regulation is needed.

 

This etf will trade in the UK, not US.

Listed in London.

 

If LEAPup was able to read the prospectus (or whatever) and determine in minutes how over the top the expense ratio is why do we need congress spending months writing more gov't regs?

 

What does US congress have to do with other *foreign* exchange traded products?

Other than using a US index, it has nothing to do with US. It's domiciled in Ireland.

The referenced etf will be priced in GBP, have little initial volume, thus a higher expense. What was the SPY's expense ratio when it was first introduced years ago? Wasn't it something like 20bp's?

http://www.etf.hsbc.com/etf/uk/advisers/etf_sp500.html

 

The comment was in response to a call for regulation. I didn't realize it was an offshore product but even if it was US based I was calling for congress to be uninvolved!

 

they should have come out something like sub-SPY (sub-division of SPY by factor of 10 like GLD and gold futures, so the retail money can participate in.