Yorkville ETF Advisers Merges with Van Eck Global
Van Eck Global said it is acquiring the Yorkville High Income MLP ETF (NYSEArca: YMLP) and the Yorkville High Income Infrastructure MLP ETF (NYSEArca: YMLI) last year. The reorganization process began late in the third quarter of 2015 and the transaction to was finalized February 22, according to a press release. The two funds are now known as the Market Vectors High Income MLP ETF (NYSEArca: YMLP) and the Market Vectors High Income Infrastructure MLP ETF (NYSEArca: YMLI). The two ETFs will continue tot rack the same indices and focus on high-income master limited partnerships. [Market Vectors Bolsters Income Lineup by Acquiring Two MLP ETFs]
Market Vectors has previously acquired other issues to bolster its lineup. In 2011, the firm acquired the Merrill Lynch HOLDRs ETFs, giving it access to several well-known sector and industry funds, including the Market Vectors Biotech ETF (NYSEArca: BBH), Market Vectors Oil Service ETF (NYSEArca: OIH) and the Market Vectors Retail ETF (NYSEArca: RTH).
High Dividend Global Stocks
Pacer Financial has launched the Pacer Global High Dividend ETF (BATS: PGHD), according to a press release. PGHD will try to reflect the performance of the Pacer Global Cash Cows Dividend 100 Index, which targets the universe of FTSE All World Developed Large-Cap Index, screens for those with the highest trailing twelve month free cash flow yield and targets 100 companies with the highest twelve month dividend yield. The underlying index shows a 5.06% dividend yield. PGHD has a 0.60% expense ratio.
High-Yield Sovereign Debt
Cambria Investment Management launched the actively managed Cambria Sovereign High Yield Bond ETF (NYSEArc: SOVB), according to a press release. SOVB consists of liquid sovereign debt issues with high yield characteristics. Additionally, the underlying index tries to eschew traditional cap-weighted indexing methodologies, which may overweight the most indebted countries, by limiting country debt to 10% of the portfolio. The ETF is mostly made up of emerging market high-yield, speculative-grade debt. SOVB has a 0.59% expense ratio.
Max Chen contributed to this article.