During the past week, in the wake of the Exchange conference, launches of new ETFs started to pick up again from their recent lull. A total of seven funds rolled out during the week, while several issuers announced or completed ETF closures.
Among the launches during the week were a pair of ETFs from Angel Oak Capital Advisors and a synthetic covered call strategy from YieldMax.
Additional New ETFs
First Trust also added to its growing defined outcome ETF lineup with the launch of the FT Vest U.S. Small Cap Moderate Buffer ETF – February (SFEB) and the FT Vest U.S. Equity Enhance & Moderate Buffer ETF – February (XFEB). Both funds use flexible exchange options to provide buffered exposure to the price performance of their reference ETFs.
SFEB is tied to the performance of the iShares Russell 2000 ETF (IWM). It offers pre-expenses upside performance of 19.28% as well as protection against the first 15% of losses. Meanwhile, XFEB tracks the price performance of the SPDR S&P 500 ETF Trust (SPY), allowing for upside performance up to a pre-expenses cap of 11.02% and downside protection against the first 15% of losses.
SFEB has an expense ratio of 0.90%, and XFEB charges 0.85%. Both funds are listed on the Cboe BZX Exchange.
Mason Capital debuted the actively managed Fundamentals First ETF (KNOW) on the Cboe BZX Exchange. The fund invests in domestic and foreign companies via equities and fixed income securities, limiting the weight of any single security to 5% of the portfolio. The fund has an expense ratio of 1.10%.
Valkyrie rolled out a leveraged bitcoin futures ETF during the week as well. The Valkyrie Bitcoin Futures Leveraged Strategy ETF (BTFX) offers twice the daily return of the S&P CME Bitcoin Futures Index Excess Return. The fund has an expense ratio of 1.85% and is listed on the Nasdaq stock exchange.
Closures
ETF closures have been on a tear, with another 11 funds shuttering during the week. The following funds ceased to trade:
- ERShares Entrepreneurs ETF (ENTR)
- ERShares NextGen Entrepreneurs ETF (ERSX)
- Nationwide Dow Jones Risk-Managed Income ETF (NDJI)
- Nationwide S&P 500 Risk-Managed Income ETF (NSPI)
- Nationwide Russell 2000 Risk-Managed Income ETF (NTKI)
- AXS Cannabis ETF (THCX)
- SoFi Be Your Own Boss ETF (BYOB)
- SoFi Smart Energy ETF (ENRG)
- SoFi Weekly Income ETF (TGIF)
- SoFi Web 3 ETF (TWEB)
- SoFi Weekly Dividend ETF (WKLY)
Another three ETFs will close in the coming weeks. The Rareview Inflation/Deflation ETF (FLTN) will see its last day of trading on February 29, while the Simplify Tail Risk Strategy ETF (CYA) will cease to trade after the market closes on March 7. Finally, the iMGP RBA Responsible Global Allocation ETF (IRBA) will have its last day of trading on April 12.
Other Changes
Several other funds are undergoing material changes. Early in the week, the KPOP and Korean Entertainment ETF (KPOP) changed its name to the JAKOTA K-Pop and Korean Entertainment ETF, and the TrueShares Low Volatility Equity Income ETF (DIVZ) changed its name to the Opal Dividend Income ETF.
On March 4, the USCF Gold Strategy Plus Income Fund (GLDX) will change its ticker to USG. That same day the First Trust Large Cap U.S. Equity Select ETF (RNLC) will change its name and ticker to the First Trust Bloomberg Shareholder Yield ETF (SHRY). It will also change its index from the Nasdaq Riskalyze US Large Cap Index to the Bloomberg Shareholder Yield Index.
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