The fund may also hold securities issued by the U.S. government, such as Treasury and agency debt like mortgage-backed securities.
“The OPER ETF seeks to fill the return void and provide an alternative to low yielding money market and non-yielding cash positions through short-term fixed income securities. These high-grade securities adjust the interest they pay accordingly as the U.S. Federal Reserve changes market interest rates. As such, OPER ETF investors could benefit from a rise in return as rates increase, and will not be left behind as witnessed from the low returns paid on savings and time deposit accounts,” according to ClearShares.
OPER’s prospectus also clearly states that the ETF is not a money market fund and does not seek a stable net asset value of $1 per share.
For more information on new fund products, visit our new ETFs category.