The past week saw a total of 13 ETF launches. There were also a host of material changes to existing funds, and some closure activity. The new ETFs included products from Vanguard, DoubleLine, AllianzIM, Innovator, Miller Value Partners, NEOS, Neuberger Berman and YieldMax.
Beyond those launches, PGIM also rolled out two new defined outcome ETFs tied to the price performance of the S&P 500. The issuer debuted its own family of buffered ETFs at the start of January, and these are the next in the series. The PGIM US Large-Cap Buffer 12 ETF – February (FEBP) and the PGIM US Large-Cap Buffer 20 ETF – February (PBFB) offer downside protection against the first 12% and 20% of downside losses, respectively, during the one-year outcome period.
In addition to the downside protection, both funds have upside caps of 15% for FEBP and 11.97% for PBFB. The funds have expense ratios of 0.50%, which is the lowest in the category. They list on the Cboe BZX Exchange.
Closures
Closure activity was fairly muted during the week, with just two funds ceasing to trade. The Pacer Metaurus US Large Cap Dividend Multiplier 300 ETF (TRPL) and the VanEck Bitcoin Strategy ETF (XBTF) both shuttered.
Other Changes
A host of funds saw material changes during the week. Amplify completed its acquisition of the ETFMG ETFs during the week. That resulted in all of the funds adding Amplify to their names and removing ETFMG. However, some of the acquired ETFs changed their indexes as well. Those changes are as follows:
- The AI Powered Equity ETF (AIEQ) changed its name to the Amplify AI Powered Equity ETF and adopted the AI Powered Equity Index after originally being actively managed.
- The ETFMG Prime Cyber Security ETF (HACK) changed its name to the Amplify Cybersecurity ETF and changed its index from the Prime Cyber Defense Index to the Nasdaq ISE Cyber Security Select Index.
- The ETFMG Prime Mobile Payments ETF (IPAY) is now the Amplify Mobile Payments ETF and it changed its index from the Prime Mobile Payments Index to the Nasdaq CTA Global Digital Payments Index.
- The ETFMG Prime Junior Silver Miners ETF (SILJ) changed its name to the Amplify Junior Silver Miners ETF (SILJ) and changed its index from the Prime Junior Silver Miners & Explorers Index to Nasdaq Metals Focus Silver Miners Index.
Beyond Amplify’s acquisition and the resulting changes, the Private Real Estate Strategy via Liquid REITs ETF (PRVT) changed its name to the Intelligent Real Estate ETF and its ticker to REAI. Changes to other funds are as follows:
- The VictoryShares THB Mid Cap ESG ETF (MDCP) changed its name to the VictoryShares THB Mid Cap ETF.
- The Strategy Shares Gold-Hedged Bond ETF (GLDB) changed its ticker to GOLY.
- The DoubleLine Commercial Real Estate ETF (DCMB) changed its ticker to DCRE.
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