ETFs
US ETF to launch from June 27 to July 4, 2024
16 new ETF offerings were launched this week, each with a distinct value proposition for investors. Below are the details of each asset manager’s respective launches.
Blackrock Launches iShares Large Cap Max Buffer Jun ETF (ticker: MAXJ)which seeks to track the share price performance of the iShares Core S&P 500 ETF (ticker: IVV) to an approximate upside limit, while seeking to maximize downside protection for IVV over a period of approximately one year beginning at the end of each June.
NIghtview Capital has launched The Nightview Fund (Ticker: NITE)which seeks to provide investors with long-term capital appreciation while outperforming the S&P 500 Total Return Index over a five-year period. NITE utilizes Nightview Capital’s fundamental investment approach. The fund invests primarily in instruments and securities linked to or issued by U.S. issuers. However, NITE may also invest in assets traded in the United States that are economically linked to developed international markets.
First Trust launched the First Trust S&P 500 Economic Moat ETF (ticker: EMOT)which aims to provide investment results similar to the price and yield of the S&P 500 Economic Moat Index. The S&P 500 Economic Moat Index measures the performance of stocks identified as having sustainable competitive advantages demonstrated by high and sustainable gross margin, high and sustainable return on invested capital (“ROIC”) and high market share.
NEOS Investments has launched the NEOS Russell 2000® High Income ETF (Ticker: IWMI)who seeks to generate high monthly income in a tax-efficient manner with the potential for equity appreciation.
Summit Global Investments Launches SGI Enhanced NASDAQ-100® ETF (Symbol: QXQ)which seeks to generate the performance of the Nasdaq-100® using futures and options while providing additional enhanced performance through very short-term options strategies.
Innovator ETFs has launched two ETFs, the Innovator International Developed 10 Buffer ETF™ (Ticker: IBUF) and the Innovator Emerging Markets 10 Buffer ETF™ (Ticker: EBUF).
The IBUF seeks to track the performance of the iShares MSCI EAFE ETF (Ticker: EFA), up to a cap, and provide a measure of downside protection by providing a 10% buffer over each three-month performance period. The ETF can be held indefinitely, with a reset at the end of each performance period.
The EBUF seeks to track the performance of the iShares MSCI EM ETF (Ticker: EEM), up to a cap, and provide a measure of downside protection by providing a 10% buffer over each three-month performance period. The ETF can be held indefinitely, with a reset at the end of each performance period.
PGIM Investments has launched two active ETFs, the PGIM Ultra Short Municipal Bond ETF (Ticker: PUSH) and the PGIM Municipal Income Opportunities ETF (Ticker: PMIO).
PUSH seeks to invest primarily in investment grade municipal bonds and up to 10% in high yield municipal bonds. The ETF seeks to maintain a weighted average portfolio duration of two years or less.
PIMO employs a dynamic income strategy, investing at least 70% of its portfolio in investment grade municipal bonds and up to 30% in high yield municipal bonds. The ETF seeks to maintain a weighted average portfolio duration of two to eight years. PGIM’s flexible approach allows the ETF to allocate funds across credit qualities, maturities, sectors and states based on the opportunities the portfolio management team believes are most attractive.
Capital Group has launched seven new actively managed ETFsfour focused on equities and three on fixed income securities. The investment strategy of each of them is as follows:
Capital Group Global Equity ETF (symbol: CGGE)which provides exposure to global investment by allocating assets to companies based primarily in developed markets.
Capital Group New Geography Equity ETF (symbol: CGNG)an alternative global equity fund that provides exposure to developing markets.
Capital Group Conservative Equity ETF (symbol: CGCV)which focuses primarily on companies with historically strong balance sheets to offer a potentially safer investment.
Capital Group International Core Equity ETF (symbol: CGIC)which uses a dividend seeking strategy and invests in international companies with an established reputation for paying dividends.
Capital Group Ultra Short Income ETF (symbol: CGUI)manages interest rate sensitivity by investing in yield-generating fixed income securities with an average portfolio duration of one year or less.
Capital Group International Bond ETF (symbol: CGIB) provides access to high-quality non-U.S. interest rate and credit markets while minimizing exposure to foreign currency volatility. The fund invests in a broad range of international fixed income securities and may offer attractive risk-adjusted return opportunities relative to U.S. bonds.Capital Group Municipal High-Income ETF (symbol: CGHM) aims to help investors earn more tax-free income by investing in municipal bonds with higher yields and lower ratings.
This article is sponsored by STOXX.
To view Canadian ETF launches for June, click here.
To view global ETF launches from June 27 to July 4, 2024, click here.