During the shortened trading week leading up to the Easter holiday, a total of 10 new ETFs launched on the U.S. market. These include funds from BlackRock, Morgan Stanley, VanEck, Invesco, Eagle Capital and Inspire.
Additional New ETFs
Among the launches during the week was the Keating Active ETF (KEAT). The fund actively selects mainly U.S.-listed securities exhibiting strong value characteristics using fundamental research provided by subadvisor Keating Investment Counselors. KEAT can also invest in other ETFs in order to achieve international exposure as needed. The fund lists on the Nasdaq stock market with an expense ratio of 0.85%.
First Trust also rolled out another buffer ETF through its partnership with Vest. The FT Vest U.S. Equity Max Buffer ETF – March (MARM) is a departure from the other buffer ETFs in the FT Vest lineup in that it targets a minimum cap and seeks to provide as much downside protection as possible, ranging from 20% up to 100%. The fund’s goals are rather fluid as it can adjust both the cap minimum and the buffer goal to reflect what market conditions permit. Within those parameters, MARM looks to deliver the price performance of the SPDR S&P 500 ETF Trust (SPY) during its one-year outcome period before resetting.
The fund has an expense ratio of 0.85% and lists on the Cboe BZX Exchange.
Closures Continue Steady Pace
Six ETFs ceased to trade during the week, including most of the Subversive ETFs lineup. Those funds are as follows:
- Subversive Cannabis ETF (LGLZ)
- Subversive Decarbonization ETF (DKRB)
- Subversive Food Security ETF (KCAL)
- Subversive Mental Health ETF (SANE)
- Defiance Pure Electric Vehicle ETF (EVXX)
- Global X MSCI Nigeria ETF (NGE)
Additionally, Regents Park announced that it would be shuttering the Anfield Diversified Alternatives ETF (DALT), with trading set to halt on April 19. The fund, which launched in September 2017, currently has about $45 million in assets under management.
Other Changes
Perhaps the most interesting change was the transformation of the futures-based Hashdex Bitcoin Futures ETF (DEFI) into a spot bitcoin ETF trading under the same ticker. Now known as the Hashdex Bitcoin ETF, the fund is the 11th spot bitcoin ETF to begin trading in the U.S.
Also during the week, the AXS First Priority CLO Bond ETF (AAA) changed its name to the Alternative Access First Priority CLO Bond ETF. Meanwhile, the Invesco Raymond James SB-1 Equity ETF (RYJ) changed its name and ticker to the Invesco Bloomberg Analyst Rating Improvers ETF (UPGD). Its index changed from the Raymond James SB-1 Equity Index to the Bloomberg ANR Improvers Index.
There are more changes slated for the next month, with the Inspire Faithward Mid Cap Momentum ETF (GLRY) changing its name to the Inspire Momentum ETF as of March 29. The AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) will also drop the “AAM” from its name as of April 8.
Finally, Strive will change the index for its Strive U.S. Energy ETF (DRLL) from the Solactive United States Energy Regulated Capped Index to the Bloomberg US Energy Select Index as of April 11.
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