Morgan Stanley Investment Management listed five new active ETFs on NYSE Arca. The ETFs span asset classes and include one Parametric alternative income strategy, one Parametric hedged equity strategy, and three Eaton Vance fixed income strategies.
The five new ETFs advised by MSIM include:
- The Parametric Equity Premium Income ETF (NYSE Arca: PAPI)
- The Parametric Hedged Equity ETF (NYSE Arca: PHEQ)
- The Eaton Vance High Yield ETF (NYSE Arca: EVHY)
- The Eaton Vance Intermediate Municipal Income ETF (NYSE Arca: EVIM)
- The Eaton Vance Ultra-Short Income ETF (NYSE Arca: EVSB)
See more: “Morgan Stanley Launches 6 Calvert ESG Funds”
PAPI will seek to deliver consistent and sustainable monthly income while participating in most market appreciation. It combines a diversified, dividend-focused equity portfolio with selling call options on the SPDR S&P 500 ETF Trust (SPY). The strategy is expected to generate additional yield in a tax-efficient manner.
PHEQ combines a U.S. large-cap equity portfolio with an option overlay hedge to reduce portfolio volatility. The hedged equity strategy seeks to provide investors with capital appreciation while incorporating downside protection.
The Eaton Vance-branded fixed income strategies will seek to provide alpha generation across the credit spectrum. EVHY focuses on high yield securities. Meanwhile, EVIM targets municipal obligations, the interest on which is exempt from regular federal income tax. And finally, EVSB invests in investment-grade, U.S.-dollar-denominated debt securities.
Building Out Its ETF Platform
In February, MSIM launched six Calvert ETFs on NYSE Arca. The ETFs offer access to four indexed and two active ESG strategies across a range of asset classes.
“Morgan Stanley Investment Management is a heavyweight with a strong heritage of active management,” said VettaFi’s Head of Research Todd Rosenbluth. “It’s great to see their lineup expansion, which includes low-cost fixed income and risk-mitigating equity ETFs.”
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