ETFs
US ETF Launch June 13-20, 2024
Twelve new ETF offerings launched this week, each presenting a distinct value proposition for investors. Below are the respective launches of each asset manager.
Eaton Vance launched the Eaton Vance Short Duration Income ETF (ticker: EVSD), a conversion of an existing short-duration bond mutual fund. EVSD seeks to generate above-average returns over a three to five year market cycle. It does this by investing primarily in U.S. government securities, corporate bonds and mortgages as well as asset-backed securities. It also invests up to 25 percent in high-yield and non-investment grade bonds. EVSD’s benchmark is the Bloomberg 1-5 Year US Credit Index and the fund seeks to have an average duration of three years or less.
OneAscent has launched the OneAscent Small Cap Core ETF (ticker: OASC), which aims to provide returns similar to those of the S&P SmallCap 600 Index. The index measures the small-cap segment within the larger U.S. stock market. Companies making up the index must meet specific inclusion criteria based on liquidity and financial viability.
OneAscent applies a unique selection methodology to track the index. This methodology involves advisors reviewing assets to look for investments that fit OneAscent’s investment philosophy.
Summit Global Investments launched the SGI Enhanced Nasdaq-100 ETF (Ticker: QXQ), an actively managed ETF that uses futures and options to provide exposure to the performance of the Nasdaq-100 Index, which it seeks to match. The ETF holds stocks in the index but also uses futures and options on the Nasdaq-100 and other indexes to enhance the fund’s performance and income.
Invesco has launched two BulletShares ETFs:
The Invesco BulletShares 2032 High Yield Corporate Bond ETF (ticker: BSJW) tracks the BulletShares USD High Yield Corporate Bond 2032 Index. The index seeks to measure the performance of a portfolio of high yield corporate bonds denominated in US dollars with effective maturities in 2032.
The Invesco BulletShares 2034 Corporate Bond ETF (ticker: BSCY) tracks the BulletShares USD Corporate Bond 2034 Index. The index seeks to measure the performance of a portfolio of investment-grade U.S. dollar-denominated corporate bonds with effective deadlines in 2034.
PGIM Investments has launched two buffer ETFs:
PGIM Buffer 12 ETF Ladder Fund (Ticker: BUFP) seeks to achieve its investment objective by providing investors with exposure to the large-cap US equity market through a “laddered portfolio” of twelve PGIM US Large-Cap Buffer 12 ETFs (the “Sub-Cap ETFs”). underlying assets”), each of which attempts to limit downside risk. The underlying ETFs seek to provide investors with limited protection against a decline in the U.S. large-cap stock market, with an upside cap on capital appreciation in that market, over a period of time.
PGIM Buffer 20 ETF Ladder Fund (Ticker: PBFR) seeks to achieve its investment objective by providing investors with exposure to the large-cap US equity market through a “laddered portfolio” of twelve PGIM US Large-Cap Buffer 20 ETFs (the “Sub-Cap ETFs”). underlying assets”), each of which attempts to limit downside risk. The underlying ETFs seek to provide investors with limited protection against a decline in the U.S. large-cap stock market, with an upside cap on capital appreciation in that market, over a period of time.
BlackRock has launched five ETFs; two are actively managed and three are focused on a target date:
The BlackRock Long-Term US Equity ETF (ticker: BELT) seeks long-term growth by investing in a portfolio of high-conviction US stocks. The investment team focuses on a company’s ability to sustain high returns, its reinvestment opportunities, and its ability to differentiate itself from the competition over the long term. This fundamentally driven investment process results in a concentrated portfolio of 20 to 25 positions that the investment team believes can add growth in ways the market underestimates.
The BlackRock High Yield ETF (ticker: BRHY) aims to maximize total return by investing primarily in non-investment grade bonds with maturities of 10 years or less. BRHY leverages the scale of BlackRock’s $2.8 trillion fixed income platform, providing clients with unprecedented market access.
The iShares iBonds Dec 2034 Term Treasury ETF (ticker: IBTP) seeks to track the investment results of an index composed of U.S. Treasury bonds maturing in 2034.
The iShares iBonds Dec 2044 Term Treasury ETF (ticker: IBGA) seeks to track the investment results of an index composed of U.S. Treasury bonds maturing in 2044.
The iShares iBonds Dec 2054 Term Treasury ETF (ticker: IBGK) seeks to track the investment results of an index composed of U.S. Treasury bonds maturing in 2054.
This article is sponsored by STOXX.
To view Canadian ETF launches for May, click here.
To view global ETF launches from June 13-20, 2024, click here.