There were 16 new ETF offerings launched for the week, each with a distinct value proposition for investors. Detailed below are the respective launches from each asset manager.
BondBloxx launched three bond ETFs, namely:
BondBloxx BBB Rated 1-5 Year Corporate Bond ETF (Ticker: BBBS) seeks to track the investment results of an index composed of BBB-rated, fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. corporate issuers with remaining maturities of greater than or equal to one year and less than five years.
BondBloxx BBB Rated 5-10 Year Corporate Bond ETF (Ticker: BBBI) seeks to track the investment results of an index composed of BBB-rated, fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. corporate issuers with remaining maturities of greater than or equal to five years and less than ten years.
BondBloxx BBB Rated 10+ Year Corporate Bond ETF (Ticker: BBBL) seeks to track the investment results of an index composed of BBB-rated, fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. corporate issuers with remaining maturities of greater than or equal to ten years.
Innovator ETFs launched two equity managed floor ETFs, the Innovator Nasdaq-100 Managed Floor ETF (Ticker: QFLR) and Innovator Equity Managed Floor ETF (Ticker: SFLR). The former is designed to provide Nasdaq-100 equity exposure with reduced volatility, built-in tail risk protection, and high upside capture. While the latter is designed to capture the upside of large-cap U.S. equities and engineered to limit the potential for maximum losses through a disciplined options overlay.
J.P. Morgan Asset Management launched the Alerian MLP Index ETN (Ticker: AMJB), which tracks the Alerian MLP Index (AMZ), a capped, float-adjusted, cap-weighted index that serves as the leading measure of energy infrastructure MLPs.
Neuberger Berman converts the Neuberger Berman U.S. Equity Index PutWrite Strategy Fund into the Neuberger Berman Option Strategy ETF (Ticker: NBOS). The ETF’s strategy is to mainly sells put options on the S&P 500, which allows it to generate income while providing similar returns to the index with less risk. That can mean the investor gives up some upside potential, but they also have some protection against downside performance.
YieldMax launched the YieldMax Magnificent 7 Fund of Option Income ETFs (Ticker: YMAG), a fund that invests in seven other YieldMax ETFs, each of which provides options-based exposure to one of the Magnificent Seven stocks. An actively managed fund, YMAG equally weights its component ETFs, rebalancing them monthly.
Vanguard launched two tax-exempt bond ETFs, the Vanguard California Tax-Exempt Bond ETF (Ticker: VTEC) and Vanguard Intermediate-Term Tax-Exempt Bond ETF (Ticker: VTEI). The former is for tax-sensitive investors that may want to reap the benefits of California specific state-specific debt, which provides yield that is tax exempt at both the federal and state levels for California residents. The latter is ideal for investors looking for more yield while maintaining the credit quality offered by municipal debt. The added tax benefits of municipal debt cater to investors searching for funds that not only add income but can help minimise their tax burden.
Defiance launched the Defiance Treasury Alternative Yield ETF (Ticker: TRES), an actively managed solutions that seeks to generate current income by investing in U.S. government securities, including U.S. Treasury Bills and U.S. Treasury Bonds with a targeted portfolio duration of one year or less; and employing defined risk option strategies.
WisdomTree launched two growth-focused equity ETFs, the WisdomTree U.S. MidCap Quality Growth Fund (Ticker: QMID) and WisdomTree U.S. SmallCap Quality Growth Fund (Ticker: QSML). The former provides core exposure to U.S. mid- market capitalisation companies that display strong quality and growth characteristics and seeks to track the price and yield performance of the WisdomTree U.S. MidCap Quality Growth Index. While the latter provides exposure to U.S. small- market capitalisation companies that display strong quality and growth characteristics and seeks to track the price and yield performance of the WisdomTree U.S. SmallCap Quality Growth Index.
NEOS Investments launched the NEOS Nasdaq-100 High Income ETF (Ticker: QQQI), an actively managed solution that seeks to generate high monthly income in a tax efficient manner with the potential for equity appreciation. The fund utilises a call option strategy that may include both sold and purchased NDX index options, which may provide the opportunity for upside capture in rising equity markets.
Mohr Funds launched the Mohr Industry Nav ETF (Ticker: INAV), which aims to diversify industry exposure within the S&P 500’s 11 sectors by investing in passively managed, sector-specific ETFs. Using a quantitative approach, it evaluates the potential risk-adjusted returns of each industry group, including its price movements. In instances where industry prospects are favourable, the fund allocates to the corresponding ETF. Conversely, in the presence of negative indicators, the fund avoids ETFs associated with those adverse signals, reallocating assets to either an S&P 500 Index ETF or, in cases of smaller capitalisation outperformance, an equal-weight S&P 500 ETF.
Miller Value Partners launched the Miller Value Partners Appreciation ETF (Ticker: MVPA), an actively managed solution comprised of stocks that the manager sees as undervalued. MVPA’s managers select 20-40 stocks based on a wide range of data including free cash flow projections; asset values; economic and industry data; and analyst opinions, among other information. The prospectus further notes that the fund can hold stocks of any size that may not even be included in the S&P 500, pointing its potential to maintain a high “active share.”
To view January’s Canada ETF launches, click here.
To view this week’s European ETF launches, click here.
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