Exchange Traded Concepts has launched a “Sustainable North American Oil Sands ETF” on the NYSE Arca.

The fund, which began trading yesterday, seeks to replicate the performance of the Sustainable North American Oil Sands Index before costs. The index is provided by Sustainable Wealth Management, which is not affiliated with Exchange Traded Concepts. Eligible companies for the index are US- and Canadian-listed companies investing in Canada's oil sands, including all stages of the production and distribution chain. The index is equal weighted.

The statement on the launch did not specify the “sustainability” criteria for the securities.

The fund will “normally” invest at least 80 per cent of its net assets, plus any borrowing for investment purposes, in the securities of the index or depositary receipts representing these securities. Annual operating expenses are 50 basis points, according to the prospectus.

Exchange Traded Concepts is the advisor of the fund and Index Management Solutions is a sub-advisor.