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US ETF Launches from 27th April to 4th May, 2023


Seven 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.

Harbor Capital Advisors launched the Harbor Small Cap Explorer ETF, the firm’s first multi-manager small-cap equity strategy. Managed by Harbor’s Multi-Asset Solutions Team, the fund invests primarily in equity securities; principally common stocks of small cap companies defined as those having a market capitalisation in the range of the Russell 2500 Index. As noted in the ETF’s prospectus, the five sub-advisers for the fund will be Connacht Asset Management, Copeland Capital Management, Granahan Investment Management, Huber Capital Management, and Reinhart Partners; each sub-adviser has its own distinct investment style and will act independently from the other subadvisors.

Pacer ETFs launched the Pacer US Small Cap Cash Cows Growth Leaders ETF. The ETF will use an indexing investment approach and track the performance of the Pacer US Small Cap Cash Cows Growth Leaders Index; focusing primarily on the 100 companies in the S&P SmallCap 600 Index that have the highest free cash flow margins. The launch of this ETF expands Pacer’s Cash Cows ETF  Suite to nine funds, with over USD17 billion in assets under management.

Allianz Investment Management has added two new ETFs to its suite of Buffered Exchange Traded Funds. The AllianzIM U.S. Large Cap Buffer10 May ETF and AllianzIM U.S. Large Cap Buffer20 May ETF have 12-month outcome periods with a 10 per cent and 20 per cent buffer, respectively. Given the uncertainty that is currently plaguing US financial markets, defined outcome ETFs have recently gained momentum with their aim of protecting against downside market movements. With the launch of these solutions, AllianzIM’s seeks to provide investors with the opportunity to participate in US equity markets and manage downside risk, simultaneously.

Breakwave Advisors in collaboration with ETF Managers Group launched the Breakwave Tanker Shipping ETF. The ETF solution is designed to provide long exposure to the crude oil tanker shipping market through a portfolio of near-dated futures contracts on indices that measure the cost of shipping crude oil. The fund will hold crude oil tanker futures contracts with a weighted average of approximately three months to expiration, using a mix of one- to six-month freight futures, based on the prevailing calendar schedule. The fund intends to progressively increase its position to the next calendar quarter while its existing positions are maintained and settled in cash. The initial tanker crude oil freight futures allocation will be 90 per cent Very Large Crude Carriers (VLCC) contracts and 10 per cent Suezmax contracts, rebalancing annually.

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