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US Launches sponsored by STOXX

US ETF launches from 9th to 16th May 2024

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13 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.

Wisdom Tree launched the WisdomTree India Hedged Equity Fund (Ticker: INDH), which provides exposure to the Indian equity market while hedging exposure to fluctuations between the US dollar and the Indian Rupee.

INDH is benchmarked to the WisdomTree India Hedged Equity Index and seeks to match the index in yield performance and price. The index utilizes a multi-factor screening process to choose 75 companies to invest in. Eligible companies must be incorporated in India, and the Bombay Stock Exchange must list them. Additionally, the companies need at least USD200 million in float-adjusted market cap and median daily dollar trailing volume of USD200k or more across the last six months. Lastly, companies also need a trading volume of USD250k or more shares per month for the last half-year.

Calamos Investments launched the Calamos S&P 500 Structured Alt Protection ETF – May (Ticker: CPSM), which is designed to match the positive price return of the S&P 500, up to a cap of 9.81 per cent,  while protecting against 100 per cent of losses over a one-year period.

Macquarie Asset Management launched the Macquarie Focused Large Growth ETF (Ticker: LRGG), which seeks to invest in durable securities that have the flexibility and competitive advantage to endure periods of market downturn and capitalise on rising markets. As such, the fund’s portfolio will generally house between 15-25 stocks.

The vast majority of fund assets will be allocated to large-cap companies. Delaware Management Company, the fund’s subadvisor, selects growth-oriented securities with a competitive business model. Along with growth evaluation, the fund managers analyze securities for several alternate quality factors. These include capital returns, asset efficiency, cash flow, and stability.

Direxion launched two ETFs, the Direxion Daily AI and Big Data Bull 2X Shares (Ticker: AIBU) and Direxion Daily AI and Big Data Bear 2X Shares (Ticker: AIBD), which follows the performance of the Solactive US AI & Big Data Index. The index is designed to provide targeted exposure to companies at the forefront of driving innovation within the artificial intelligence and big data industries. AIBU seeks to achieve 200 per cent of the index’s daily performance, while AIBD seeks to provide 200 per cent of the inverse (opposite) of the index’s daily performance.

PGIM Investments launched eight buffer ETFs:

PGIM US Large-Cap Buffer 12 ETF – July (Ticker: JULP), which seeks to provide investors with returns that match the price return of the SPDR® S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 20 ETF – July (Ticker: PBJL), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 12 ETF – August (Ticker: AUGP), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 20 ETF – August (Ticker: PBAU), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 12 ETF-September (Ticker: SEPP), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 20 ETF – September (Ticker: PBSE), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 12 ETF-October (Ticker: OCTP), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12 per cent of the SPDR S&P 500 ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

PGIM US Large-Cap Buffer 20 ETF-October (Ticker: PBOC), which seeks to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20 per cent of the SPDR® S&P 500® ETF (Ticker: SPY) Trust’s losses over the one year Target Outcome Period.

This article is sponsored by STOXX.

To view the Canadian ETF launches for April, click here

To view the Global ETF launches for May 9th to 16th, 2024, click here.

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