The week ending December 8, 2023 was fairly busy for the ETF industry, with 15 new ETFs added. Perhaps the biggest ETF rollout for the period was the actively managed “Core-Plus” bond launched by Vanguard. Vanguard is the second largest ETF issuer in the U.S. and can let years pass between fund launches. That said, another bond fund is slated to launch from the issuer this month.
The week saw additional launches from Invesco, SS&C ALPS, BMO, Harbor Capital Advisors, National Security Index, and CastleARK. And even more new funds brought the total new ETFs for the week to 14.
A new issuer debuted on the Nasdaq stock exchange with three new passively managed thematic funds. The Themes Airlines ETF (AIRL), the Themes Cybersecurity ETF (SPAM), and the Themes Generative Artificial Intelligence ETF (WISE) each have an expense ratio of 0.35%. The funds hold portfolios of companies that are generally based in developed markets.
Additional New ETFs
Vert Asset Management also rolled out the Vert Global Sustainable Real Estate ETF (VGSR) on the Nasdaq stock exchange during the week. VGSR is actively managed. It mainly holds companies that invest in real-estate-related assets and meet the issuer’s sustainability and ESG criteria. The fund can invest in companies at the global level. VGSR has an expense ratio of 0.45%.
Hartford launched two ETFs during the week. The Hartford US Quality Growth ETF (HQGO) and the Hartford US Value ETF (VMAX). Both track indexes of U.S. securities that demonstrate characteristics of their respective targeted factors. HQGO focuses on companies that have strong growth and quality exposure. And VMAX’s index homes in on companies with strong value characteristics. HQGO lists on the Nasdaq stock market and has an expense ratio of 0.34%. Meanwhile, VMAX lists on Cboe Global Markets with an expense ratio of 0.29%.
Additionally, the week saw the debut of the Return Stacked Global Stocks & Bonds ETF (RSSB) on Cboe Global Markets. The actively managed fund combines exposure to a fixed income strategy with a managed futures strategy. The bond strategy targets Treasury securities, broad bond ETFs, and Treasury futures. At the same time, the managed futures strategy invests in futures on commodities, currencies, equities, and fixed income securities. RSSB has an expense ratio of 0.97%.
Closures
Three more ETFs are set to close this year. The Merk Stagflation ETF (STGF) will cease to trade after the market close on December 26. And both the Armor US Equity Index ETF (ARMR) and the Corbett Road Tactical Opportunity ETF (OPPX) will see their last day of trading on or around December 27.
Looking to next year, the Sterling Capital Diverse Multi-Manager Active ETF (DEIF) will cease to trade after the market close on January 3, 2024.
Other Changes
Multiple ETFs will see index or ticker changes in the new year. Hartford will change the name of its Hartford Short Duration ETF (HSRT) to the Hartford AAA CLO ETF as of February 12, 2024. Meanwhile, as of February 26, 2024, the following funds will change their names and tickers:
- The Fidelity Growth Opportunities ETF (FGRO) will change its name to the Fidelity Fundamental Large Cap Growth ETF and its ticker to FFLG.
- The Fidelity New Millennium ETF (FMIL) will change its name to the Fidelity Fundamental Large Cap Core ETF and its ticker to FFLC.
- The Fidelity Small-Mid Cap Opportunities ETF (FSMO) will change its name to the Fidelity Fundamental Small-Mid Cap ETF and its ticker to FFSM.
Finally, on March 15, 2024, the VanEck Natural Resources ETF (HAP) will change its index from the VanEck Natural Resources Index to the MarketVector Global Natural Resources Index.
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