The week ending November 3, 2023, saw a good number of new ETFs enter the market as well as several closures.
In all, there were 14 new ETFs including launches from Defiance, First Trust, Innovator, Roundhill, ProShares, John Hancock, Kingsbarn Capital Management, Dimensional and SRH Funds.
More New ETFs
JPMorgan launched an actively managed ETF that invests in companies across the broad health care sector at the global level. The JPMorgan Healthcare Leaders ETF (JDOC) uses the issuer’s in-house research to select leaders in the space. It has an expense ratio of 0.65% and lists on the Nasdaq stock market.
Kurv also added another three ETFs to its growing lineup of single-stock options strategies. The new funds are as follows:
- Kurv Yield Premium Strategy Microsoft (MSFT) ETF (MSFY)
- Kurv Yield Premium Strategy Google (GOOGL) ETF (GOOP)
- Kurv Yield Premium Strategy Amazon (AMZN) ETF (AMZP)
Each fund applies a synthetic covered call options strategy to its reference equity with the intention of providing exposure to the stock’s price movement as well as options-related income. The funds all have expense ratios of 0.99% and list on Cboe Global Markets.
Closures
Several closures completed during the week, and another three fund shutdowns were announced.
In particular, Merlyn.AI will be closing its two remaining ETFs in November. The Merlyn.AI Bull-Rider Bear-Fighter ETF (WIZ) and the Merlyn.AI SectorSurfer Momentum ETF (DUDE) will see their last day of trading on Nov. 10.
The Clouty Tune ETF (TUNE) will also close, with its last day of trading set for Nov. 16. The fund will be a little less than five months old when it shuts down.
Another five ETFs from BlackRock closed during the week, after their last day of trading on Monday. They include the following:
- BlackRock Future Innovators ETF (BFTR)
- iShares MSCI Germany Small-Cap ETF (EWGS)
- iShares Currency Hedged MSCI Canada ETF (HEWC)
- iShares Currency Hedged MSCI United Kingdom ETF (HEWU)
- iShares Factors US Value Style ETF (STLV)
Other Changes
Also during the week, two ETFs underwent material changes. The BlackRock Short Maturity Bond ETF (NEAR) changed its name to the BlackRock Short Duration Bond ETF. Meanwhile, the DriveWealth ICE 100 Index ETF (CETF) changed its name to the DriveWealth NYSE 100 Index ETF and its index from the DriveWealth ICE 100 Index to the DriveWealth NYSE 100 Index.
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