Americas ETP News
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Lack of Education, Demand for Alternative Strategies & More: The Next Big Trends in the ETF Industry
MArch 13, 2019--All signs point to the ETF industry searching for its next pivot point. To kick us off in 2018, we saw the continued trajectory toward new equity index ETF products first led by the roll-out of blockchain ETFs.
However, this year seems to signal something entirely different as there has been little to no fanfare about new ETF products entering the space. Chatter in the industry has revolved primarily around deals between small ETF issuers and the absence of, or less show of strength by, large ETF issuers. Consolidation and slowing product innovation have been the bellwether signaling the maturity of many industries.
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Source: ETFBILD
CORRECTING and REPLACING State Street Global Advisors Continues to Strengthen its High Yield Fixed Income ETF Offering
March 13, 2019--Enhancements to two SPDR Fixed Income ETFs designed to meet evolving needs of today's investors
The corrected release reads:
STATE STREET GLOBAL ADVISORS CONTINUES TO STRENGTHEN ITS HIGH YIELD FIXED INCOME ETF OFFERING
Enhancements to two SPDR Fixed Income ETFs designed to meet evolving needs of todays investors
State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced several enhancements to two high yield bond ETFs with a combined $8.8 billion in assets.
A 1:3 reverse share split will be implemented to reduce trading costs for the SPDR Bloomberg Barclays High Yield Bond ETF (JNK).
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Source: State Street Global Advisors
SEC: Fee Rate Advisory #2 For Fiscal Year 2019
March 12, 2019--The Securities and Exchange Commission today announced that starting on April 16, 2019, the fee rates applicable to most securities transactions will be set at $20.70 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $13.00 per million for covered sales occurring on charge dates through April 15, 2019, and a rate of $20.70 per million for covered sales occurring on charge dates on or after April 16, 2019. The fee rate for fiscal year 2019 compares similarly to the fee rates in years prior to 2018. As noted in the last advisory, the lower rate in 2018 was in part the result of a substantially higher dollar amount of covered sales.
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Source: SEC.gov
Canadian securities regulators seek comment on the internalization of trade orders
March 12, 2019--The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) today published for comment the Joint CSA/IIROC Consultation Paper 23-406 Internalization within the Canadian Equity Market. The consultation paper seeks feedback in response to concerns regarding the internalization of orders within the Canadian equity market.
Internalization is generally considered to relate to situations where a trade is executed with the same dealer as both the buyer and the seller.
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Source: Canadian Securities Administrators (CSA)
First Trust Nasdaq Smartphone Index Fund Announces Changes to Investment Objective, Fund Name and Ticker Symbol
March 12, 2019--First Trust Nasdaq Smartphone Index Fund (Nasdaq: FONE) (the "Fund"), an exchange-traded index fund and a series of First Trust Exchange-Traded Fund II (the "Trust"), announced today that the Board of Trustees ("Board") of the Trust has approved changes to the Fund's investment objective. On or around May 29, 2019, the Fund will seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Indxx 5G & NextG Thematic Index (the "New Index").
Currently, the Fund seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Nasdaq CTA Smartphone Index. The New Index is expected to be composed of up to 100 securities issued by companies that have devoted, or have committed to devote, material resources to the research, development and application of fifth generation (5G) and next generation cellular technologies.
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Source: First Trust
2 ETFs focused on Japan launched by iShares
March 11, 2019--BlackRock's iShares has introduced two exchange-traded funds with different approaches to exposure to Japanese equities.
The iShares MSCI Japan Equal Weighted ETF holds a portfolio of Japanese equities that are equally weighted, while the iShares MSCI Japan Value ETF applies a value strategy to investing.
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Source: Smartbrief
Invesco celebrates 20th anniversary of QQQ
March 11, 2019--Invesco has celebrated the twentieth anniversary of the launch of the Invesco QQQ, its giant Nasdaq 100 ETF.
Introduced on 10 March 1999, QQQ has become the sixth largest ETF globally,with $66 billion in assets under management, and has one of the longest performance histories available in an ETF.
"Invesco is proud of the 20 years of innovation that have been marshaled through the Invesco QQQ and the access it has provided investors to pioneering companies that impact each of us daily," said Dan Draper, Managing Director, Global Head of Invesco ETFs.
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Source: etfstrategy.com
JP Morgan is about to launch the lowest-fee way to bet on the entire US stock market
March 11, 2019--J.P. Morgan is about to launch the JPMorgan BetaBuilders U.S. Equity ETF with a fee of 0.02 percent.
That makes the broad U.S. stock market fund cheaper than similar ETFs from Vanguard, Schwab and BlackRock's iShares.
Schwab and iShares had offered the cheapest U.S. stock market ETFs, charging 0.03 percent .
J.P. Morgan has grown to become one of the largest ETF companies in only a few years, primarily by selling ETFs to its own clients.
J.P. Morgan isn't going to zero fee, but it is about to launch the lowest-fee exchange-traded fund yet offering exposure to the U.S. stock market.
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Source: cnbc.com
Lipper U.S. Weekly FundFlows Insight Report: Funds Post Net Inflows Paced by Money Market Funds
March 11, 2019--Lipper's fund asset groups (including both mutual funds and ETFs) took in almost $20.3 billion in net new money for the fund-flows trading week ended Wednesday, March 6. Net inflows were driven by money market funds (+$28.0 billion), while municipal bond funds contributed $798 million to the total. Equity funds (-$7.0 billion) and taxable bond funds (-$1.5 billion) both saw money leave their coffers.
The net negative flows for taxable bond funds broke a streak of eight consecutive weekly net inflows.
Market Overview
The major equity indices all finished down for the fund-flows trading week. The Dow Jones Industrial Average, S&P 500 Index, and the NASDAQ Composite Index fell 1.20%, 0.75%, and 0.64%, respectively.
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Source: Refinitiv
Auour Launches Instinct Family of Downside Protection Strategies on Integrated Advisors Network's Platform
March 11, 2019--Building on Integrated's 'supported independence' business model, Auour is providing an investment solution for advisors that want to upgrade to the next generation of downside protection.
Auour Investments announced that their Instinct(C) family of strategies is now available to advisors affiliated with Integrated Advisors Network (Integrated).
The Instinct family of strategies is built using low-cost, passively-based ETFs that strive to protect capital in times of duress without the need to sacrifice performance in rising markets. With the Auour Regime Model (ARM(C)) at its core, the Instinct family will allow those advisors using Integrated's platform to gain access to the next generation of downside protection.
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Source: Auour Investments
