With only four trading days during the week, ETF launches were few and far between. Only four new funds launched this week. The new rollouts included ETFs from Madison, F/m Investments, and KraneShares. An active managed futures strategy also debuted during the week.
The actively managed Return Stacked U.S. Stocks & Managed Futures ETF (RSST) invests in large-cap U.S. equities and futures contracts representing commodities, currencies, equities, and bonds. The fund is listed on Cboe Global Markets and has an expense ratio of 1.04%.
Closures
Two funds ceased to trade during the week. The BNY Mellon Short Duration Corporate Bond ETF (BKSB) saw its last day of trading on Sept. 6, while the iBET Sports Betting & Gaming ETF (IBET) had its last day of trading on Sept. 7.
Other Changes
On Tuesday, three funds in the Harbor Capital ETF family changed their names. The Harbor Corporate Culture ETF (HAPI) is now known as the Harbor Human Capital Factor US Large Cap ETF, while the Harbor Corporate Culture Small Cap ETF (HAPS) is now the Harbor Human Capital Factor US Small Cap ETF. The Harbor Corporate Culture Leaders ETF (HAPY) is now called the Harbor Human Capital Factor Unconstrained ETF.
Filings
There were a number of interesting files during the week. DWS is planning to launch a California municipal bond ETF. Currently, six such funds are trading on the market, with the largest being the $2.2 billion iShares California Muni Bond ETF (CMF).
First Trust also filed for the FT Raymond James Multicap Growth Equity ETF. The actively managed fund will invest in U.S. equities across the size spectrum that are rated “Strong Buy” or “Outperform” by Raymond James & Associates, the fund’s subadvisor. Invesco already offers the Invesco Raymond James SB-1 Equity ETF (RYJ), which launched in 2006 and tracks an index of Raymond James’ Strong Buy companies.
Finally, Merlyn.AI has plans to launch the multi-asset Merlyn.AI Tactical Risk Mitigation ETF. The firm uses AI-driven algorithms that rely on market signals to make investment decisions. The fund is an ETF-of-ETFs that will track the Merlyn.AI SNUG Tactical Risk Mitigation Index, which switches between bull and bear strategies based on metrics related to price trend, market momentum, value sentiment, and market volatility.
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