Only eight funds debuted during the week ending August 11. The new ETF launches included a sustainable commodity fund from USCF Advisers, two fixed income ETFs from Strive Asset Management, and an options strategy ETF targeting Netflix stock from YieldMax.
Among the other fund rollouts was the LAFFER | TENGLER Equity Income ETF (TGLR), which is managed by Laffer Tengler Investments. The fund debuted on Tuesday. It targets high-quality, large-cap domestic stocks that offer strong earnings and the opportunity for significant dividend income. It selects a portfolio of 25 to 35 equities selected based on their relative dividend yield and relative price-to-sales ratio. The fund has an expense ratio of 0.95% and lists on Cboe Global Markets.
Meanwhile, the Cboe Validus S&P500 Dynamic PutWrite Index (PUTD) rolled out on Thursday. It tracks an index that represents the performance of put options written on the S&P 500 Index, intending to outperform the total return of the S&P 500 with less volatility and downside performance. PUTD has an expense ratio of 0.60% and lists on Cboe Global Markets.
At the same time, First Trust and Cboe Vest launched the First Trust Cboe Vest SMID Rising Dividend Achievers Target Income ETF (SDVD) and the FT Cboe Vest Technology Dividend Target Income ETF (TDVI).
The former mainly invests in the First Trust SMID Cap Rising Dividend Achievers ETF (SDVY) or its holdings while seeking to provide distributions that exceed the dividend yield of the Russell 2000 Index by 8%. It does this by writing options on the Russell 2000. The fund has an expense ratio of 0.85% and lists on Cboe Global markets.
TDVI is similar to SDVY. It invests in the First Trust NASDAQ Technology Dividend Index Fund (TDIV) and its holdings and looks to provide 8% more distributions than the Nasdaq-100 Index. It does this by writing options on the Nasdaq-100. TDVI has an expense ratio of 0.75% and lists on Cboe Global Markets.
Closures
Once again, it was a strong week for ETF closures, with multiple pending fund shutdowns announced. The AXS 1.5X PYPL Bull Daily ETF (PYPT) shut down on Friday, its closure was announced earlier in the year.
Looking ahead, AdvisorShares will close the AdvisorShares Poseidon Dynamic Cannabis ETF (PSDN), with its last day of trading set for August 25. Meanwhile, Global X has pushed the closure of the Global X MSCI Nigeria ETF (NGE) back by more than a month such that its last day of trading will be on or around September 28.
Strategy Shares will shutter the Strategy Shares Nasdaq 5HANDL Index ETF (FIVR) after the close of trading on August 30. The Noble Absolute Return ETF (NOPE) will likewise cease to trade after the market close on August 24, and Janus Henderson will close the Janus Henderson Net Zero Transition Resources ETF (JZRO) with trading ceasing after the market close on October 19.
J.P. Morgan Asset Management will also shutter two of its ETFs. The JPMorgan ActiveBuilders U.S. Large Cap Equity ETF (JUSA) will have its last day of trading on September 13, while the JPMorgan ActiveBuilders International Equity ETF (JIDA) will cease to trade after the market close on October 10.
Finally, the ETFMG Sit Ultra Short ETF (VALT) will see its last day of trading on August 25.
Other Changes
Two ETFs will undergo major changes in the coming weeks. As of August 15, the GraniteShares XOUT U.S. Large Cap ETF (XOUT) will change its name to the GraniteShares Nasdaq Select Disruptors ETF and its ticker to DRUP. Its index will change from the XOUT U.S. Large Cap Index to the Nasdaq US Large Cap Select Disruptors Index.
And sometime around October 9, the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) will change its name to the Bitwise Bitcoin and Ether Equal Weight Strategy ETF and its ticker to BTOP. Presumably, it will also change its objective to include exposure to futures on the ether cryptocurrency.
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