ETFs
A new ETF, 1 closing
Despite an uptick in activity over the previous week, last week, following the Memorial Day holiday, only five new ETFs were launched and one shutdown was achieved. The new funds included ETFs issued by IndexIQ And Defiance ETFbut there were also products from Newfound Research, Cambria and FT Vest.
New research
The actively managed Return Stacked US Stocks & Futures Yield ETF (RSSY ) from Newfound is the fourth addition to the issuer’s Return Stacked series and combines an equity strategy with a futures yield strategy. The equity strategy invests primarily in large-cap US stocks via individual stocks, ETFs and stock futures, while the futures yield portion of the portfolio will cover futures contracts representing commodities, currencies , stocks, fixed income and interest rates, among other types. futures contracts, with the aim of exploiting the carry premium.
According to the prospectus, the fund seeks to provide investors with exposure worth $2 for every dollar invested in the fund, or $1 of exposure to each of two strategies. The fund has an expense ratio of 1.04% and is listed on the Cboe BZX exchange.
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Cambria
Cambria rolled out the Cambria Chesapeake Pure Trend ETF (MFUT ) during the week. The new fund is actively managed. It uses a long-term trend following strategy that seeks to access various asset classes such as stocks, fixed income, currencies and commodities through futures and futures-linked vehicles. term, according to the MFUT prospectus.
Chesapeake Capital Corp. manages the fund’s futures strategy using what the prospectus calls “computer-driven models.” Meanwhile, Cambria manages the cash component of the portfolio through an internal quantitative model with the aim of providing necessary margin and collateral for the futures portion of the portfolio.
MFUT has an expense ratio of 0.75% and is listed on the Cboe BXZ exchange.
FT vest
FT Vest, a partnership between First Trust and Vest, has launched the FT Vest Laddered Small Cap Moderate Buffer ETF (BUF), which invests in four other ETFs in the FT Vest family of buffer ETFs. These four ETFs provide buffer exposure to the price action of the iShares Russell 2000 ETF (IWM A-), tracking the performance of the reference asset up to an upside cap while protecting against the first 15% of downside performance before expenses. Each of the four funds in the portfolio has a different cap. Every three months, one of the funds in the series is reset. BUFS creates scale by weighting the four funds equally and rebalancing them on a quarterly basis.
BUFS has an expense ratio of 1.10% and is listed on the Cboe BZX exchange.
Other developments beyond new ETFs
Closures saw a slight slowdown, with only one fund closing during the week. The BTD Capital Fund (SOAK ) launched in late 2022 but has largely failed to amass significant assets.
Several funds have also undergone significant changes.
Franklin US Low Volatility ETF (FLLV A-) changed its name and symbol to Franklin Income Equity Focus ETF (INCE). Meanwhile, the MAX S&P 500 4X Leveraged ETN, which trades under the ticker XXXX, changed its ticker to (SPY ). And the X-Square municipal income tax-free ETF (ZTAX B) changed its name to the X-Square Municipal Income ETF.
Several ETFs also changed their indexes during the week.
The Invesco S&P International Developed Momentum ETF (IDMO A) changed its index from the S&P Momentum Developed ex-US & South Korea LargeMidCap Index to the S&P World Ex-US Momentum Index.
Likewise, three ETFs affiliated with the EMQQ brand have modified their indices. The EMQQ The Emerging Markets Internet & Ecommerce ETF (EMQQ C+) changed its index from the EMQQ The Emerging Markets Internet & Ecommerce Index to the EMQQ The Emerging Markets Internet Index.
The FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ B) changed its index from the FMQQ The Next Frontier Internet & Ecommerce Index to the FMQQ The Next Frontier Internet Index. And the India Internet and E-commerce ETF (INQQ ) changed its index from INQQ The India Internet & Ecommerce Index to INQQ The India Internet Index.
For more news, information and analysis, visit VettaFi | ETFDB.