Home etfexpress.com US ETF launches from 29th February to 7th March, 2024

US ETF launches from 29th February to 7th March, 2024

20 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 – March (Ticker: IMAR). The ETF mainly holds Flexible Exchange (FLEX) options that reference the iShares MSCI EAFE ETF (EFA) in order to deliver the price return of that fund. EFA offers exposure to a wide range of large and midcap securities across more than 20 developed markets, excluding the U.S. and Canada.

The return cap for IMAR is 19.30 per cent. The fund also includes a downside buffer against the first 15 per cent of losses during the outcome period. The outcome period for IMAR concludes on February 28, 2025.

YieldMax launched the YieldMax Ultra Option Income Strategy ETF (NYSE Arca: ULTY), an actively managed solution that seeks to prioritises current income while offering direct exposure to U.S. securities as well as its option strategies. The fund uses traditional and synthetic covered call strategies that look to exploit increased volatility in its underlying securities.

Miller Value Partners launched the Miller Value Partners Leverage ETF (Ticker: MVPL), a solution which will primarily invest in other ETFs offering unleveraged or leveraged exposure to the S&P 500 Index. MVPL will rely on a on signals from proprietary models drawn from technical data. The models indicate daily whether the fund should take a position in the unleveraged SPDR S&P 500 ETF Trust (Ticker: SPY) or a similar fund, or in the ProShares Ultra S&P 500 ETF (Ticker: SSO) or a similar fund, which provides 2x exposure to the S&P 500 Index.

Harbour Capital Advisors launched the Harbour International Compounders Fund (Ticker: HSICX), an actively managed solution that seeks long-term growth of capital and invests primarily in equity securities of non-US companies, including those located in emerging market countries.

The sub-advisor for the fund will be C WorldWide Asset Management, a firm that seeks to identify what they believe to be high-quality companies with consistent, recurring revenues, stable free cash flows, and sustainable returns on invested capital. In seeking to identify those companies for the Fund’s portfolio, the investment team conducts qualitative assessments of companies, including, among other criteria, each company’s business model, management, and financial and valuation metrics.

Simplify Asset Management launched the Simplify Tara India Opportunities ETF (Ticker: IOPP), a solution that provides investors with exposure to one of the fastest-growing major economies in the world. IOPP will utilise the expertise of System Two Advisors is an established asset manager that focuses on bottom-up research and evaluates key aspects of every company under consideration for inclusion in the portfolio, including business moat, growth drivers, management quality, and future growth potential.

Allianz Investment Management launched the AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF (Ticker: SIXP). The buffer ETF will reset every six months and seeks to match the share price returns of the SPDR S&P 500 ETF Trust (Ticker: SPY). Like other defined outcome funds, SIXP primarily holds positions in flexible exchange options (FLEX) linked to SPY in order to achieve its objective. Before expenses are applied, SIXP has a return cap of 7.98 per cent and a downside buffer of 10 per cent.

Roundhill Investments launched the Roundhill Daily Inverse Magnificent Seven ETF (Ticker: MAGQ) and the Roundhill Daily 2X Long Magnificent Seven ETF (Ticker: MAGX). The former seeks to offer daily returns that correspond to the inverse of (-1X) the daily performance of the Roundhill Magnificent Seven ETF (Ticker: MAGS). Conversely, the latter offers two times (2X) daily long exposure to MAGS.

MAGS rebalances its portfolio to equal weights every quarter, ensuring a balanced representation across the underlying constituents.

Summit Global Investments launched two actively managed funds, the SGI Enhanced Core ETF (Ticker: USDX) and SGI Global Enhanced Income ETF (Ticker: GINX). The former looks to provide income to investors by investing in money market-type vehicles, focusing on higher yields and quality characteristics, and in ultra-short-term put and call options strategies. While the latter also focuses on income, by applying an options overlay to a portfolio of US-listed global companies that pay dividends.

PGIM Investments launched two buffer ETFs, the PGIM US Large-Cap Buffer 12 ETF – March (Ticker: MRCP) and PGIM US Large-Cap Buffer 20 ETF – March (Ticker: PBMR). The funds use FLEX options like other buffer funds to deliver the price performance of the SPDR S&P 500 ETF Trust (Ticker: SPY) up to a cap, with a buffer to protect against at least some downside losses. While MRCP protects against the first 12 per cent of losses, it allows for upside exposure before expenses up to a cap of 15.81 per cent. PBMR has a downside buffer of 20 per cent while allowing for upside performance up to a cap of 12.65 per cent.

Sprott Asset Management launched the Sprott Copper Miners ETF (Ticker: COPP), which offers pure-play exposure to the full spectrum of copper miners. It’s a strong complement to existing funds and provides expanded options for investors looking to capture energy transition equities.

Tidal Investments launched the iREIT – MarketVector Quality REIT Index ETF (Ticker: IRET), which will invest in REITs across all property sectors, utilising fundamental analysis to provide investors with exposure to diversification, potentially higher yields, and a focus on quality and value investing.

Nuveen launched four actively managed ETFs, three fixed income solutions and one equity solution. The funds in question are:  

Nuveen Core Plus Bond ETF (Ticker: NCPB), which seeks total return, primarily through current income, with allocations to investment grade bonds, non-investment grade bonds and other out of benchmark fixed-income sectors.

Nuveen Preferred and Income ETF (Ticker: NPFI), which seeks a high level of current income and total return, primarily investing in high quality, institutional preferred securities and contingent capital securities.

Nuveen Ultra Short Income ETF (Ticker: NUSB), which seeks total return through current income as well as capital preservation and liquidity by allocating primarily to high quality, short-term investment grade corporate bonds and other short-term debt instruments.

Nuveen Sustainable Core ETF (Ticker: NSCR), which seeks favourable long-term total return by investing in companies aligned with three investment themes: Energy Transition and Innovation, Inclusive Growth, and Strong Governance.

This article is sponsored by STOXX.

To view the Canadian ETF launches for February, click here

To view the Global ETF launches for February 29th to March 7th, 2024, click here.

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