Nine new ETF offerings were launched for the week, each with a distinct value proposition for investors. Detailed below are the respective launches from each asset manager.
Innovator ETFs launched the Innovator International Developed Power Buffer ETF – February (Ticker: IFEB), the fund provides the price return of the iShares MSCI EAFE ETF (Ticker: EFA) up to a cap while protecting against the first 15 per cent of losses from the start of the one-year outcome period. Additionally, the fund reset every February and has a has a pre-expenses upside cap on its performance of 17.54 per cent.
Allianz Investment Management launched two ETFs, the AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF (Ticker: FLJJ) and AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF (NYSE Arca: SIXF). The former looks to provide the price return of the SPDR S&P 500 ETF Trust (SPY) while limiting losses over a six-month outcome period to just 5 per cent, though the current outcome period is just 5 months. The fund has a pre-expenses upside performance cap of 7.66 per cent. The latter looks to provide the price return of the SPDR S&P 500 ETF Trust (SPY), limiting losses over a six-month outcome period to just 10 per cent and allowing for pre-expenses upside performance cap of 7.73 per cent.
DoubleLine launches two ETFs, the DoubleLine Fortune 500 Equal Weight ETF (Ticker: DFVE) and DoubleLine Commodity Strategy ETF (Ticker: DCMT). The former tracks the Barclays Fortune 500 Equal Weighted Total Return Index. The Fortune 500 is not an actual index, but a list maintained by Fortune Magazine of the top 500 public and private US companies as determined by their revenues. The latter provides long-only exposure to a diversified basket of commodities across the five major sectors of the commodity market: energy, industrial metals, precious metals, agriculture and livestock. The investment universe comprises all 24 commodities in the Bloomberg Commodity Index. The fund overweights the 10 commodities with the highest roll yield and underweights the 14 commodities with the lowest roll yield.
PGIM Investments launched two ETFs, the PGIM US Large-Cap Buffer 12 ETF – FEBRUARY (Ticker: FEBP) and PGIM US Large-Cap Buffer 20 ETF – February (Ticker: PBFB). The former seeks to provide returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12 per cent (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the one-year Target Outcome Period. The latter provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20 per cent (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the one-year Target Outcome Period.
American Beacon Advisors, Inc. launched the American Beacon Advisors Bolsters ETF (Ticker: MGNR), which seeks long-term capital appreciation by taking a global perspective on companies operating in the natural resources sector or adjacent areas. The portfolio will generally hold 30 to 60 securities, reflecting firms involved in the extraction and/or harvesting of natural resources to those involved in the manufacture and distribution of products created from natural resources.
Direxion launched the Direxion Daily MSCI Emerging Markets ex China Bull 2X Shares (Ticker: XXCH), which seeks to achieve 200 per cent of the daily performance of the MSCI Emerging Markets ex China Index. The MSCI Emerging Markets ex China Index is designed to capture the large- and mid-capitalisation securities across 23 of the 24 emerging markets, apart from China. The Index is market cap weighted and covers approximately 85 per cent of the free float-adjusted market capitalisation in each of the selected countries.
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