Americas ETP News for the Past Year
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BNY Mellon Insights-Active ETFs and SMAs Thrive As Mutual Funds Lose More Ground U.S. Distribution Pulse Quarterly|Q2 2024
June 20, 2024--Mutual funds, exchange-traded funds (ETFs), and separately managed accounts (SMAs) all saw net sales grow in Q1 2024.
With United States economic growth more sluggish than anticipated in Q1 and inflation proving hard to tame, investors continue to face tough questions about how to manage their money. Against this backdrop, the market experienced the highest inflows since Q4 2021 for mutual funds, driven by record fixed income growth.
Industry wide, of the $78 billion that flowed into fixed income mutual funds, $74 billion went into active management1 with investors seeming to prioritize fund returns over real returns despite the impact of inflation.
Looking at Q1 positive net sales at wirehouses, two of the top three performers were mutual funds on rep-as-portfolio manager programs (multisector bond and intermediate core-plus bond). But in contrast to the fixed-income bounce back, U.S. equity mutual funds experienced deep outflows. As a result, mutual funds lost more of their overall share of wirehouse assets to both exchange-traded funds (ETFs) and separately managed accounts (SMAs).
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Source: bnymellon.com
Innovator Announces Cap Ranges on Three New 100% Buffer ETFs with 6-Month, 1-Year, or 2-Year Outcome Periods
June 17, 2024--ETF Issuer behind the world's first Defined Outcome ETFs and 100% Buffer ETFs expands its suite after gathering more than $350M in AUM
Innovator Capital Management, LLC (Innovator), pioneer and provider of the largest lineup of Defined Outcome ETFsTM, today announced cap ranges on three new 100% Buffer ETFsTM set to launch July 1st.
Each of the ETFs are designed to provide 100% downside protection with a defined upside to the S&P 500 ETF over a 6-month, 1-year, or 2-year outcome period. Innovator, which launched the industry's first ever 100% Buffer ETF (TJUL) in July of 2023, manages the industry's largest 100% Buffer ETFTM suite.
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Source: Innovator Capital Management
Purpose Investments Unveils New Ether Staking ETF Following Conversion of Ether Capital Corporation into an ETF
June 17, 2024---Purpose Investments will continue the industry leading work that Ether Capital Corporation has done in building a strong ether staking capability that's accessible to all investors
Purpose Investments Inc. ("Purpose") is proud to announce the launch of the Purpose Ether Staking Corp. ETF (the "ETF" or "ETHC.B"), formerly Ether Capital Corporation ("Ether Capital"), following Ether Capital's shareholder vote that approved its conversion into an ETF managed by Purpose and completion of the related transaction.
The ETF will harness proprietary staking technology to offer investors exposure to ether and staking rewards from the ether network. The EFT’s shares will begin trading today on Cboe Canada under the ticker ETHC.B.
Key Points at a Glance
The ETF marks Purpose's fifth addition to its world-renowned digital assets lineup and its first ETF to offer ether staking.
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Source: Purpose Investments Inc.
PGIM expands ETF lineup to include two laddered funds of buffer ETFs
June 13, 2024--New ETFs offer one-stop solution for 12% and 20% Buffer ETF exposure
Following the launch of the PGIM U.S. Large-Cap Buffer 12 and 20 ETF series, PGIM,1 the $1.34 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has launched two laddered funds of buffer ETFs, the PGIM Laddered Fund of Buffer 12 ETF (BUFP) and the PGIM Laddered Fund of Buffer 20 ETF (PBFR) (the "ETFs"), on the Cboe BZX.
The ETFs will be offered at a 0.50% net expense ratio, making them the lowest-cost fund of buffer ETFs in the marketplace.2
The two new ETFs seek to generate capital appreciation by providing investors with U.S. large-cap equity market exposure through a laddered portfolio of its Underlying Buffer ETFs. The Underlying Buffer ETFs seek to provide investors with limited protection against a decline in the U.S. large-cap equity market, with an upside cap on capital appreciation in that market, over a specified time period.
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Source: pgim.com
Exponential ETFs and Brandometry Jointly Launch Brand Value ETF (BVAL)
June 13, 2024--New ETF identifies and offers exposure to well-known Brands with unrealized value
. Exponential ETFs and Brandometry today launch the Brand Value ETF (NYSE: BVAL), which is designed to outperform the broader market by identifying companies with strong brands whose latent value has not yet been realized by their stock price by tracking the BrandTransact 50 Index.
The exchange-traded fund (ETF) will trade on the New York Stock Exchange.
The BrandTransact 50 Index (BTW50), Powered by Wilshire, represents a primarily large-cap portfolio that provides the benefits of intelligent security selection in a passive rules-based format.
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Source: Exponential ETFs and Brandometry
RBB Fund Complex facilitates launch of SGI Enhanced NASDAQ-100 ETF (QXQ)
June 13, 2024--QXQ is the 25th ETF operating within RBB, bringing RBB's total ETF assets to more than $7.3 Billion.
Exponential ETFs and Brandometry today launch the Brand Value ETF (NYSE: BVAL), which is designed to outperform the broader market by identifying companies with strong brands whose latent value has not yet been realized by their stock price by tracking the BrandTransact 50 Index.
The RBB Fund Complex ("RBB"), a pioneer of the independent series trust, is pleased to announce the launch of the SGI Enhanced NASDAQ-100(R) ETF (NASDAQ: QXQ)*, a new series of RBB advised by Summit Global Investments, LLC ("SGI"). SGI is a $2 billion boutique investment advisor located in Bountiful, UT.
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Source: RBB Fund, Inc
YieldMax Launches Option Income Strategy ETF on Snowflake (SNOW)
June 11, 2024--YieldMax announced the launch today of the following ETF:
YieldMax SNOW Option Income Strategy ETF (NYSE Arca: SNOY)
SNOY seeks to generate current income via a synthetic covered call strategy on Snowflake Inc. (SNOW). SNOY is actively managed by ZEGA Financial. SNOY does not invest directly in SNOW.
SNOY is the newest member of the growing YieldMax ETF family and, like all YieldMax ETFs, aims to deliver current income to investors. Please see table below for distribution and yield information for all outstanding YieldMax ETFs.
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Source: YieldMax
AllianceBernstein Finalizes Two New ETF Conversions
June 10, 2024--AllianceBernstein Holding L.P. (NYSE: AB) and AllianceBernstein L.P., a leading global investment management firm, announced today the launch of two actively managed exchange-traded funds (ETFs) on the New York Stock Exchange: AB Short Duration Income ETF [NYSE: SDFI] and AB Short Duration High Yield ETF [NYSE: SYFI].
Global trading firm Jane Street will be the Lead Market Maker on these products.
"When you observe the ETF market and the spectrum of investors in this space, you can see how active ETFs have really started to take root," said AB Global Head of ETFs and Portfolio Solutions Noel Archard.
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Source: AllianceBernstein
CBO-Monthly Budget Review: May 2024
June 10, 2024--Summary
The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, the Congressional Budget Office estimates-$38 billion more than the deficit recorded during the same period last fiscal year. Revenues were $294 billion (or 10 percent) higher and outlays were $332 billion (or 8 percent) higher from October through May than during the same period in fiscal year 2023.
Shifts in the timing of certain payments affect that comparison. Outlays in the first eight months of each fiscal year were reduced by shifts of some payments to September that otherwise would have been due on October 1, which fell on a weekend in both years. In addition, because June 1, 2024, fell on a weekend, outlays in the first eight months of 2024 were boosted by the shifting of payments into May 2024. Those amounts were larger than the amounts shifted from October to September 2023, increasing outlays, on net, in fiscal year 2024. If not for those timing shifts, the deficit so far in fiscal year 2024 would have been $46 billion less than the shortfall for the same period in fiscal year 2023.
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Source: cbo.gov
BlackRock Announces Product Updates
June 7, 2024--BlackRock has one of the most comprehensive and diverse investment platforms in the industry, providing investors with choice to meet their investment objectives. Investors are continuing to turn to BlackRock to unlock the full potential of their
portfolios, as reflected by $1.9 trillion of net inflows in the past five years globally.1
In the U.S., BlackRock offers over 600 mutual funds and ETFs for investors to access different market exposures.2 As we evolve our platform and launch new strategies, we also constantly assess the regulatory and operating environment as well as how our funds are meeting investors' investment objectives. Today, BlackRock is announcing the upcoming liquidation of 15 U.S.-domiciled mutual funds and ETFs.
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Source: ishares.com
