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US Launches sponsored by STOXX

US ETF launches from 2nd to 9th May, 2024 

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Nine 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 Inc launched the Harbor Disciplined Bond ETF (Ticker: AGGS), which primarily invests in US dollar-denominated fixed-income securities. These investments can include a wide variety of fixed-income instruments, including corporate debt and municipal debt securities. However, the fund will not invest more than 5 per cent towards any individual issuer; except the US government and its agencies.

Income Research + Management (IR+M) works as the fund’s subadviser. In choosing assets, IR+M uses a bottom-up research and investment process. The process involves a credit analysis and review of structural features, along with relative-value comparisons to other investment options.

Westwood Holdings Group launched the Westwood Salient Enhanced Energy Income ETF (Ticker: WEEI), an actively-managed ETF that seeks to provide current income and capital appreciation by investing in securities of North American energy companies primarily involved in the following industries: oil, gas and consumable fuels as well as energy equipment and services.

John Hancock Investment Management launched the John Hancock High Yield ETF (Ticker: JHHY), an actively managed fund that aims to strengthen current income and provide capital appreciation. As a high yield ETF, JHHY primarily invests in junk bonds with similar characteristics to components within the ICE BofA US High Yield Constrained Index. Bonds selected for the portfolio will generally range between BB+ to D from S&P Global Ratings or Fitch Ratings. Additionally, the ETF may invest in bonds that Moody’s Investors rated between Ba1 and D.

YieldMax launched the YieldMax Short TSLA Option Income Strategy ETF (Ticker: CRSH). The fund is actively managed and seeks to generate income and provide inverse indirect exposure to Tesla’s common stock. To accomplish the fund’s objectives, it implements a synthetic covered-put strategy on Tesla. Simultaneously, CRSH seeks short, indirect exposure to Tesla’s current share price.

Tremblant Capital launched the Tremblant Global ETF (Ticker: TOGA), an actively managed ETF that seeks long-term capital appreciation by leveraging Tremblant’s fundamental research and global investment management expertise.

TOGA seeks to identify investments in two categories: companies undergoing disruptive consequential change, and durable long-term growth businesses. The strategy aims to capture compelling growth in free cash flows that are often underappreciated by other market participants. Tremblant’s investment process generally utilises a combination of business model assessment, financial model analysis, proprietary data science research, and deep industry knowledge. TOGA will generally hold 30-50 positions in developed markets, with an emphasis on large-mid cap companies.

TCW Group converted two mutual funds to ETFs. The conversion expands TCW’s suite of actively managed ETFs and provides investors with greater access to tax-efficient investment vehicles that capitalise on TCW’s legacy of strong performance. The ETFs are:

TCW Artificial Intelligence ETF (Ticker: AIFD), an actively managed fund that aims to invest in companies across sectors that are leading the development and commercialisation of artificial intelligence technology. AIFD focuses on companies building core technology, artificial intelligence systems, and those already adopting the technology. The Fund’s investment objective is long-term growth of capital.

TCW Compounders ETF (Ticker: GRW), an actively managed fund that aims to invest in industry leading companies with predictable business models and compounding free cash flows. GRW invests in durable companies that have significant recurring revenue, sell important and difficult-to-replicate products or services, and have management teams with a strong track record of quality leadership. The Fund’s investment objective is long-term growth of capital.

Global X launched two covered call ETFs, the MLP & Energy Infrastructure Covered Call ETF (Ticker: MLPD) and the S&P 500 Quality Dividend Covered Call ETF (Ticker: QDCC). The former follows a “covered call” or “buy-write” strategy, in which the fund buys the Global X MLP & Energy Infrastructure ETF (Ticker: MLPX) and “writes” or “sells” corresponding call options on the same ETF. MLPD seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe MLPX ATM BuyWrite Index.

The latter, QDCC,  also follows a “covered call” or “buy-write” strategy, in which the fund buys the Global X S&P 500 Quality Dividend ETF (Ticker: QDIV) and “writes” or “sells” corresponding call options on the same ETF. QDCC seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Cboe QDIV ATM BuyWrite Index.

This article is sponsored by STOXX.

To view the Canadian ETF launches for April, click here

To view the Global ETF launches for May 2nd to 9th, 2024, click here.

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