Nuveen said in December it was planning to convert CTF and CFD into ETFs. CFD invests in an array of commodity futures and forward contracts. As of the end of November, the mutual fund allocated a combined 26.5% of its weight to oil and gold, according to issuer data. The fund’s annual expenses total 1.75%.
CTF holds a “portfolio of exchange-traded commodity futures contracts that are among the most actively traded futures contracts in global commodity markets,” according to Nuveen. CTF charges 1.61% per year. [Nuveen to Convert two Mutual Funds Into ETFs]
Nuveen has not been completely absent from the ETF business over the past 13 years. The firm partners with State Street’s (NYSE: STT) State Street Global Advisors unit on at least seven fixed income ETFs, including the SPDR Nuveen S&P High Yield Municipal Bond ETF (NYSEArca: HYMB), SPDR Nuveen Barclays Build America Bond ETF (NYSEArca: BABS) and the SPDR Nuveen Barclays Municipal Bond ETF (NYSEArca: TFI).
“Nuveen’s proposal said its initial funds would be actively managed investment strategies targeting large caps, the biggest publicly traded companies,” according to InvestmentNews.
ETF Trends editorial team contributed to this post.