Home etfexpress.com US ETF launches from 20th to 27th June, 2024

US ETF launches from 20th to 27th June, 2024

Eight 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.

Direxion launched the Direxion Daily Uranium Industry Bull 2X Shares (Ticker: URAA), which aims to provide twice (i.e., 200 per cent) the daily performance of the Solactive United States Uranium and Nuclear Energy ETF Select Index.

TCW converted the TCW’s MetWest Flexible Income  Mutual Fund into an ETF, the TCW Flexible Income ETF (Ticker: FLXR).FLXR is an actively managed ETF designed for investors seeking consistent income. The ETF has the flexibility to invest across sectors, allowing allocation shifts based on changing market conditions. Along with US-issued instruments, FLXR may invest in fixed-income options issued by foreign governments and corporations, including emerging markets. Up to half the fund’s assets may be allocated to emerging markets and instruments tied to emerging market countries.

YieldMax launched the YieldMax ABNB Option Income Strategy ETF (ABNY). The fund aims to provide investors with current income through exposure to the share price of Airbnb, Inc. (Ticker: ABNB). ABNY uses a synthetic covered call strategy to gain indirect exposure. Additionally, the fund benefits from current income accumulated through the call strategy. However, the options contracts do lead to a limit on ABNY’s participation in potential gains from ABNB’s share price returns.

Strive Asset Management launched the Strive International Developed Markets ETF (Ticker:STXI), which aims to track the total return performance of the Bloomberg Developed Markets ex-US Large & Mid Cap Total Return Index. The index tracks mid- and large-cap companies of developed market countries outside the United States.

Invesco launched the Invesco MSCI Global Climate 500 ETF (Ticker: KLMT), which aims to give investors access to similar investment results as the MSCI AWI Select Climate 500 Index. The MSCI AWI Select Climate 500 Index is a subset of the MSCI AWI Index. This climate-focused index tracks roughly 500 global equity companies within the MSCI AWI Index that possess specific climate and environmental criteria.

First Trust launched the FT Vest U.S. Equity Equal Weight Buffer ETF – June (Ticker: RSJN). The ETF aims to generate returns that match the price return of the Invesco S&P 500 Equal Weight ETF Trust (Ticker: RSP), up to a predetermined upside cap of 19.03 per cent while providing a buffer against the first 10 per cent of underlying ETF losses, over the period from June 24, 2024 through June 20, 2025.

 Vest Financial LLC is the subadvisor for RSJN. The company frequently partners with First Trust in the management of buffered and targeted outcome funds.

Neuberger Berman launched two fixed income ETFs, the Neuberger Berman Short Duration Income ETF (Ticker: NBSD) and Neuberger Berman Flexible Credit Income ETF (Ticker: NBFC).

NBSD will invest in  in fixed and floating-rate investment-grade bonds, along with other debt instruments. The list of investment options can also include collateralized debt and loan obligations, credit risk transfer securities, and mortgage- and asset-backed securities. The fund aims  to give investors access to high current income consistent with liquidity, while mitigating principal risk. To monitor trends across markets and industries, the fund uses a mix of qualitative and quantitative factors. By doing so, the fund may reposition investments to capture undervalued sectors of the bond market.

NBFC invests in bond securities all across the credit spectrum, including investment-grade and junk bonds. While there is no target duration for securities, its portfolio managers expect the fund’s average duration to sit between two to eight years. NBFC invests in a wide variety of credit instruments. This can include derivative instruments, along with investment companies that are providing investment exposure to credit instruments.

This article is sponsored by STOXX.

To view the Canadian ETF launches for June, click here

To view the Global ETF launches for June 20th to 27th, 2024, click here.

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