The week ending Sept. 22 marks a strong post-summer resurgence for the industry, with 25 new ETF launches in all. Matthews Asia and iShares rolled out five funds each during the week with additional ETF debuts from Roundhill, VanEck, Defiance, AllianceBernstein, YieldMax and BondBloxx, among others.
First Trust and Cboe Vest added to their lineup of buffered ETFs with two funds that reset annually in September. The FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) uses FLEX options to replicate the price return of the SPDR S&P 500 ETF Trust (SPY), while protecting investors from the first 15% of losses from the reset date. It allows for 14.76% in pre-expenses upside performance.
Meanwhile, the FT Cboe Vest U.S. Equity Buffer & Premium Income ETF – September (XISE) takes a different approach to focus on income. It uses FLEX options to protect against losses greater than 10% for SPY’s price return. However, it does not offer any upside exposure to SPY’s performance and instead uses FLEX options to provide exposure to the performance of short-term Treasury debt with the goal of providing annualized income of 8.19% before expenses.
GSEP and XISE have expense ratios of 0.85% and lists on Cboe Global Markets.
The Subversive Cannabis ETF (LGLZ) debuted on Tuesday. The actively managed fund targets companies that generate at least half of their net revenue from the sale of legal cannabis products. The fund has an expense ratio of 0.75% and lists on Cboe Global Markets.
Midweek ETF Launches
Amplify launched its own ETF focused on cash flow metrics on Wednesday. The Amplify Cash Flow High Income ETF (HCOW) is actively managed, selecting its holdings from the Kelly US Cash Flow Dividend Leaders Index that relies on metrics related to dividends and free cash flow. The methodology for HCOW includes a call income strategy replicates the sale of call options on the S&P 500 Index on a daily basis. HCOW has an expense ratio of 0.65% and lists on the Nasdaq stock market.
Meanwhile, the MarketDesk Focused U.S. Dividend ETF (FDIV) is actively managed but subadvised by MarketDesk Indices. The fund uses a quantitative strategy to invest in 60-80 dividend-paying U.S. stocks that are likely to increase their dividend payments going forward. The fund has an expense ratio of 0.35% and lists on the Nasdaq stock exchange.
Invesco added three more funds to its BulletShares family of ETFs, which consists of funds that hold fixed income securities maturing in the same year. The new funds and their expense ratios are as follows:
- Invesco BulletShares 2033 Corporate Bond ETF (BSCX), 0.10%
- Invesco BulletShares 2031 High Yield Corporate Bond ETF (BSJV), 0.42%
- Invesco BulletShares 2033 Municipal Bond ETF (BSSX), 0.18%
Thursday saw the debut of the Western Asset Bond ETF (WABF). The actively managed strategy invests in debt securities in a range of maturities as well as implementing derivatives to improve returns and manage risk. The fund has an expense ratio of 0.35% and lists on the Nasdaq stock exchange.
Closures
ETF shutdowns were also prevalent during the week. The VanEck China Growth Leaders ETF (GLCN) and the AdvisorShares Newfleet Multi-Sector Income ETF (MINC) both ceased to trade.
Several more closures were announced. Three ETFs from Principal will no longer trade after the market close on Oct. 13. Those funds are as follows:
- Principal U.S. Large-Cap Adaptive Multi-Factor ETF (PLRG)
- Principal U.S. Small-Cap Adaptive Multi-Factor ETF (PLTL)
- Principal International Adaptive Multi-Factor ETF (PXUS)
Later in the month, after the market close on Oct. 16, the Strategy Shares Halt Climate Change ETF (NZRO) will cease to trade. The Parabla Innovation ETF (LZRD) will follow on Oct. 23.
Other Changes
The KFA Value Line Dynamic Core Equity Index ETF (KVLE) will changes its name to the KFA Vlaue Line Dynamic Dividend Equity Index ETF as of Sept. 29.
Finally, the Highland/iBoxx Senior Loan ETF (SNLN) was acquired by BondBloxx, with its name changed to the BondBloxx USD High Yield Bond Sector Rotation ETF (HYSA).
For more news, information, and analysis, visit VettaFi | ETF Trends.