IndexIQ on Wednesday debuted its IQ Ultra Short Duration ETF (ULTR) on NYSE Arca to provide financial advisors the flexibility to manage interest rate risk while seeking to deliver attractive current income.
ULTR will be actively managed by NYL Investors, which oversees over $252 billion in assets as of March 31, 2019. Managed by Senior Portfolio Manager Kenneth Sommer, this is the first ETF brought to market by this team.
Sommer said he believed that ULTR can play an important role in managing client portfolios in any investment environment.
“This fund aims to provide investment solutions that generate consistent, risk-controlled excess returns for our clients,” Sommer said. “ULTR represents a strategy which helps mitigate interest rate risk while seeking to minimize price volatility.”
ULTR is the third in a series of actively managed ETF offerings from IndexIQ following the launch of two active municipal bond funds: IQ MacKay Municipal Insured ETF (MMIN) and IQ MacKay Municipal Intermediate ETF (MMIT).
“For the first time, our clients can access the markets through an ETF developed and run by the experienced institutional asset management team at NYL Investors,” said IndexIQ’s Chief Investment Officer, Salvatore Bruno. “Adding to our lineup of active managers on our IndexIQ platform is a testament to the capabilities of New York Life Investments and how we continue to bring innovative solutions to market.”
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