Americas ETP News
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PGIM Introduces Two Active Muni ETFs
June 28, 2024--New fixed income ETFs build on success of $7B PGIM Ultra Short Bond ETF (PULS) and PGIM's existing retail municipal bond strategies1
PGIM,2 the $1.34 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has launched two new actively managed exchange-traded funds (ETFs)- the PGIM Ultra Short Municipal Bond ETF (PUSH) and the PGIM Municipal Income Opportunities ETF (PMIO)-on the NYSE Arca.
Both ETFs seek total return through a combination of current income and capital appreciation by investing at least 80% of their respective portfolios in municipal ("muni") obligations whose income is exempt from federal income taxes. The ETFs are subadvised by PGIM Fixed Income, a top-10 U.S. active fixed income manager with $821 billion in assets under management.3
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Source: PGIM
Citi Securities Services Wins ETF Mandate from Asset Manager Nuveen
June 28, 2024--The mandate includes the addition of 23 new ETFs of approximately US$9 billion to Citi's expanding ETF Services business.
Winning a new mandate from asset manager Nuveen, Citi Securities Services' ETF Services business has onboarded 23 new ETFs with approximately US$9 billion in assets in North America. The book is comprised of both transparent and non-transparent ETFs.
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Source: Citi
2024 Sees Record Number Of New ETFs, Driven By Active Fund Managers: Report
June 27, 2024--June 27, 2024--The year 2024 has reportedly witnessed a record-breaking number of new exchange-traded funds (ETFs) entering the market, largely driven by active fund managers.
What Happened: According to Morningstar, 236 ETFs have been launched this year, including 166 actively managed ETFs.
This is a significant increase compared to the total of 155 active and passive ETFs launched during the same period in 2023, the Financial Times reported on Thursday.
The new generation of active ETFs offers a range of features, such as additional income, double exposure to specific stocks, or guaranteed protection against losses, attracting substantial interest and investment.
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Source: markets.businessinsider.com
ETF debuts surge as actively managed offerings gain traction
June 27, 2024--ETFs overseen by fund managers who pick stocks continue to gain ground on index followers
New ETFs are hitting the market at a record pace this year, led by securities overseen by fund managers who decide which stocks to include.
At least 236 ETFs have launched so far in 2024, including 166 actively managed ETFs, according to Morningstar. There were 155 active and passive ETFs combined at the same time in 2023.
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Source: ft.com
Capital Group Launches 7 New ETFs on the New York Stock Exchange
June 27, 2024--New services include four equity and three fixed income ETFs, bringing Capital Group's ETF platform to 21
Capital Group has introduced seven new active, transparent exchange-traded funds (ETFs) to complement its existing suite of core building block solutions for investor portfolios. The new strategies, including four equity and three fixed income ETFs, start trading on the New York Stock Exchange (NYSE) today.
In a little over two years, Capital Group has launched 21 (11 equity, nine fixed income and one multi-asset) ETFs with assets under management (AUM) of $29B, gaining over 4% market share within active ETFs1.
The seven new funds include:
Capital Group Global Equity ETF (CGGE)
Capital Group New Geography Equity ETF (CGNG)
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Source: Capital Group Companies
YieldMax Launches Launches Option Income Strategy ETF on Airbnb (ABNB)
June 25, 2024--YieldMax announced the launch today of the following ETF:
YieldMax ABNB Option Income Strategy ETF (NYSE Arca: ABNY)
ABNY seeks to generate current income via a synthetic covered call strategy on Airbnb, Inc. (ABNB). ABNY is actively managed by ZEGA Financial. ABNY does not invest directly in ABNB.
ABNY 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
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
