E-Trade Group, the Palo Alto, Calif., on-line broker, is gearing up to expand its fledgling mutual fund family.
E-Trade Asset Management said Monday that it has filed registration statements for two index funds with the Securities and Exchange Commission.
The E-Trade Extended Market Index Fund is meant to track the performance of the Wilshire 4,500 Index, a mid- and small-cap index. The fund is to be the equivalent of the Wilshire 5,000 Index but excluding the stocks in the Standard & Poor's 500 Index. E-Trade began its asset management effort with an S&P 500 Index Fund in February.
The firm's other new fund, the E-Trade Total Bond Fund Index Fund, is also meant to cover a broad market, tracking the Lehman Brothers Government/ Corporate Bond Index, which includes roughly 5,000 fixed-income securities.