It would have been a pretty quiet week in terms of new ETFs, except for Thursday, October 19. That was the day that saw 19 fund launches, possibly the most ETF rollouts in one day that the industry has ever seen. That Thursday barrage of funds included the debut of the only existing target date ETFs, which were launched by iShares, and five actively managed ETFs from Morgan Stanley. Neuberger Berman and Core Values Alpha also launched actively managed equity ETFs during the week.
Hartford Funds launched the Hartford Quality Value ETF (QUVU) on Monday. The fund is actively managed and focuses on U.S. equities demonstrating quality and value characteristics as well as a history of paying dividends. QUVU’s methodology also incorporates ESG criteria into its selection process. The fund comes with an expense ratio of 0.45% and lists on Cboe Global Markets.
Additional New ETFs
The 19 new ETFs that debuted on Thursday include four ETFs launched under the T-REX brand, which is a partnership between Rex Shares and Tuttle Capital Management. The new family of funds offers leveraged and inverse exposure to the performance of popular stocks. The four funds that launched this week are tied to the stock of Nvidia and Tesla and are as follows:
- T-REX 2X Long Tesla Daily Target ETF (TSLT)
- T-REX 2X Inverse Tesla Daily Target ETF (TSLZ)
- T-REX 2X Long NVIDIA Daily Target ETF (NVDX)
- T-REX 2X Inverse NVIDIA Daily Target ETF (CBOE: NVDQ)
The two Tesla-linked funds list on the Nvidia-linked funds list on the Nasdaq stock market. All four ETFs have expense ratios of 1.05%.
Closures also had a strong showing during the week, with 11 ETFs ceasing to trade and another 18 announced. The 11 completed closures include the following:
- KraneShares MSCI China ESG Leaders Index ETF (KESG)
- KraneShares CICC China Leaders 100 Index ETF (KFYP)
- KraneShares Emerging Markets Healthcare Index ETF (KMED)
- WisdomTree Chinese Yuan Strategy Fund (CYIB)
- WisdomTree Germany Hedged Equity Fund (DXGE)
- WisdomTree India ex-State-Owned Enterprises Fund (IXSE)
- WisdomTree Growth Leaders Fund (PLAT)
- WisdomTree U.S. Growth & Momentum Fund (WGRO)
- Strategy Shares Halt Climate Change ETF (NZRO)
- Janus Henderson Net Zero Transition Resources ETF (JZRO)
- ROC ETF (ROCI)
Credit Suisse expects the Credit Suisse S&P MLP Index ETN (MLPO) to trade until the market close on November 7. Meanwhile, Global X will close four of its funds, which will cease to trade after the market close on November 10. Those funds are as follows:
- Global X Founder-Run Companies ETF (BOSS)
- Global X Education ETF (EDUT)
- Global X Emerging Markets Internet & E-commerce ETF (EWEB)_
- Global X China Innovation ETF (KEJI)
The ETC Gavekal Asia Pacific Government Bond ETF (AGOV) and the Cabana Target Drawdown 5 ETF (TDSA) will both no longer trade after November 15.
IndexIQ will close five of its ETFs, with their last trading day set for December 12. Those funds include the following:
- IQ U.S. Large Cap ETF (CLRG)
- IQ Real Return ETF (CPI)
- IQ Global Resources ETF (GRES)
- IQ MacKay Multi-Sector Income ETF (MMSB)
- IQ U.S. Mid Cap R&D Leaders ETF (MRND)
Six target date maturity bond ETFs will reach their maturities and cease to trade after the market close on December 15 — three from iShares and three from Invesco. Those funds are as follows:
- iShares iBonds Dec 2023 Term Corporate ETF (IBDO)
- iShares iBonds 2023 Term High Yield and Income ETF (IBHC)
- iShares iBonds Dec 2023 Term Treasury ETF (IBTD)
- Invesco BulletShares 2023 Corporate Bond ETF (BSCN)
- Invesco BulletShares 2023 High Yield Corporate Bond ETF (BSJN)
- Invesco BulletShares 2023 Municipal Bond ETF (BSMN)
Several ETFs have seen or will see material changes. The three Engine No. 1 ETFs will change their names but retain their tickers after the issuer’s acquisition by the TCW Group. The rebranded funds are as follows:
Looking ahead, the DriveWealth ICE 100 Index ETF (CETF) will change its name to the Drive Wealth NYSE 100 Index ETF and its index from the DriveWealth ICE 100 Index to the NYSE 100 Index as of November 3.
Later, the iShares North American Tech-Multimedia Networking ETF (IGN) will undergo a major renovation as of December 15. The fund’s name and ticker will change to the iShares U.S. Digital Infrastructure and Real Estate ETF (DIGI), and its index will change from the S&P North American Technology Multimedia Networking Index to the S&P Data Center, Tower REIT and Communications Equipment Index.
And next year, as of January 18, the IQ UltraShort Duration ETF (ULTR) will change its name to the IQ MacKay Ultra Short Duration ETF.
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