Americas ETP News
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Calamos Launches CPSJ with a 9.45% Initial Cap and 100% Downside Protection to S&P 500 Over One Year, Expanding Structured Protection ETF Series
July 1, 2024--Calamos S&P 500 Structured Alt Protection ETF-July (CPSJ), offering an initial cap rate of 9.45% over a one-year outcome period, launched today in response to investor demand and following the success of Calamos' first S&P 500 capital-protected offering in May.
The Calamos Structured Protection ETF suite combines Calamos' decades-long alternatives and options investing expertise with the liquid, cost-effective and tax-efficient ETF structure.
Calamos Structured Protection ETFs offer investors the most comprehensive capital-protected suite across leading U.S. equity indices (S&P 500, Nasdaq-100 and Russell 2000)
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Source: Calamos Investments
Roundhill Cannabis ETF (WEED) Waives Fees to 0.00%
July 1, 2024--WEED ETF will offer expense ratio of 0.00% through July 1, 2025
Roundhill Investments, an ETF sponsor focused on innovative financial products, has announced a fee waiver for its Roundhill Cannabis ETF (Cboe: WEED). The WEED ETF, which offers targeted exposure to leading U.S. multi-state operators, will charge an all-in expense ratio of 0.00% until at least July 1, 2025.
"While regulatory reform for the cannabis sector has been slower than anticipated, we believe that the upcoming reclassification to Schedule III can serve as a much needed catalyst for the space," said Dave Mazza, Chief Executive Officer at Roundhill Investments. "As part of introducing our fee waiver, we would encourage investors to consider WEED as a targeted vehicle to express a view on positive momentum in U.S. cannabis."
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Source: Roundhill Investments
Goldman Sachs Asset Management Announces Updated Timeline for Liquidation of Goldman Sachs Defensive Equity ETF
June 28, 2024--Goldman Sachs Asset Management ("GSAM"), the investment adviser for the Goldman Sachs Defensive Equity ETF (the "Fund"), is updating the plan of liquidation (the "Plan") for the Fund. Under the Plan, which was originally announced June 12th, 2024, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs in an orderly fashion over time. The Plan is not subject to shareholder approval.
Under the updated timeline, shareholders of the Fund may sell their shares on the Fund’s listing exchange, NYSE Arca, Inc. ("NYSE Arca"), until market close on July 3, 2024 and may incur transaction fees from their broker-dealer. The Fund’s shares will no longer trade on NYSE Arca after market close on July 3, 2024, and the shares will subsequently be de-listed.
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Source: Goldman Sachs Asset Management
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
