Eleven ETFs launched during the week ending July 14, 2023. Most notably, Schwab, which tends not to introduce a lot of ETFs in any given year, rolled out its first high-yield bond ETF.
There were additional launches from Global X, which debuted a free cash flow ETF and Simplify, which rolled out a multi-asset fund featuring strategies from several third-party providers.
Newcomers also unveiled new funds during the week. Texas Capital launched an ETF covering companies headquartered in Texas, while Blueprint Fund Management and Chesapeake Capital teamed up to launch an ETF that invests in currencies, commodities, fixed income, and equities.
DWS Group rolled out its first three thematic ETFs as well. The passively managed funds trade on the Nasdaq stock market. They and their expense ratios are as follows:
- Xtrackers US Green Infrastructure Select Equity ETF (UPGR), 0.35%
- Xtrackers Cybersecurity Select Equity ETF (PSWD), 0.20%
- Xtrackers Semiconductor Select Equity ETF (CHPS), 0.15%
BlackRock launched the actively managed Blackrock Short-Term California Muni Bond ETF (CALY), which will target an effective duration of 1.5 years. The fund lists on the Nasdaq stock market and comes with an expense ratio of 0.20%.
Goldman Sachs also rolled out the Goldman Sachs North American Pipelines & Power Equity ETF (GPOW). The fund tracks an index of master limited partnerships (MLPs) from the U.S. and Canada. The fund comes with an expense ratio of 0.55% and lists on Cboe Global Markets.
Closures
Although no new closures were announced, several funds shut down during the week, as expected. The FlexShares ESG & Climate High Yield Corporate Core Index Fund (FEHY) had its last day of trading on Tuesday, with the ETFMG Prime 2x Daily Junior Silver Miners ETF (SILX) ceasing to trade after the market close on Wednesday.
Both the First Trust BICK Index Fund (BICK) and the EquityCompass Risk Manager ETF (ERM) saw their last day of trading on Friday.
Filings Highlights
There were also a number of notable filings during the week, with planned offerings from Global X and Matthews Asia standing out in particular.
Global X is planning to add another fund to its suite of covered call ETFs with the Global X Emerging Markets Covered Call ETF. The fund will track an index that applies a covered call strategy to the holdings of an emerging markets benchmark.
Mathews Asia also filed prospectuses for a new roster of five ETFs. Those products include the following:
- Matthews Emerging Markets Sustainable Future Active ETF
- Matthews Pacific Tiger Active ETF
- Matthews India Active ETF
- Matthews Japan Active ETF
- Matthews Asia Dividend Active ETF
The funds will all offer actively managed access to various Asian equity markets.
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