“Correlation between asset classes and across geographic regions has risen dramatically over the past two decades as investors move in concert in reaction to changes in the global economic outlook,” Christopher Yeagley, Managing Director and US Head of Equity Structured Products, said in a press release. “These two ETNs are designed to give investors the ability to take advantage of this in a straightforward manner: if they expect economic growth, they can purchase ONN to express a ‘risk on’ view, and if they don’t expect growth, they can purchase OFF to express a ‘risk off’ view.”

Exchange traded notes are senior, unsecured debt instruments issued by UBS AG. Potential ETN investors are subject to a number or risks, including the loss of some or all of an investor’s principal and the creditworthiness of the issuing bank.

Horizons Gartman ETF

For more information on new ETFs, visit our new ETFs category.

Max Chen contributed to this article.