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US Launches sponsored by STOXX

US ETF launches from 23rd to 30th  May, 2024

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10 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.

Defiance ETFs launched the Defiance Daily Target 2x Long Uranium ETF (Ticker: URAX). This actively managed solution aims to double the percentage change in the share price of the Global X Uranium ETF (Ticker: URA).

The URA ETF is one of the largest uranium ETFs on the market. It has roughly USD6 billion in assets under management. URA primarily invests in companies that participate in the uranium industry. That can be via mining, refining, equipment manufacturing, and exploration, among others.

Roundhill launched the actively managed Roundhill GLP-1 & Weight Loss ETF (Ticker: OZEM), which will invest in companies that offer GLP-1 drugs and other weight loss medications that have been approved by the FDA or that are still in clinical trials.

iShares launched two fixed-income ETFs, the iShares iBonds Dec 2034 Term Corporate ETF (Ticker: IBDZ) and the iShares iBonds Oct 2034 Term TIPS ETF (Ticker: IBIK).

IBDZ aims to track the investment results of the Bloomberg December 2034 Maturity Corporate Index. This index holds investment-grade corporate bonds that are U.S. dollar-denominated and reach maturity in 2034. The fund invests a wide majority of assets toward components within the underlying index. Additionally, it may allocate investments toward other ETFs, short-term paper, U.S. government securities, and cash or cash equivalents. As a term fund, IBDZ will terminate around December 15 2034, and will provide the remaining net assets to shareholders.

IBIK presents investors with access to a portfolio of inflation-protected U.S. Treasury bonds (TIPS). It aims to track the results of the ICE 2034 Maturity US Inflation-Linked Treasury Index, which consists of TIPS scheduled to mature during 2034. IBIK may also invest a smaller portion in futures, options, and swaps contracts. By investing in TIPS, the fund can provide investors with a degree of inflation protection. IBIK is also a term fund, scheduled to terminate and distribute remaining net assets around October 15, 2034.

First Trust Portfolios L.P. launched two buffer ETFs, the FT Vest Nasdaq-100 Moderate Buffer ETF – May (Ticker: QMMY) and  FT Vest U.S. Equity Enhance & Moderate Buffer ETF – May (Ticker: XMAY).

QMMY seeks to provide investors with returns that match the price return of the  Invesco QQQ Trust (Ticker: QQQ), up to predetermined upside cap of 15.93 per cent while providing a buffer against the first 15 per cent of Underlying ETF losses, over the period from May 20, 2024 through May 16, 2025.

XMAY seeks to provide investors with returns of approximately twice any positive price return of the SPDR S&P 500 ETF (Ticker: SPY), up to a predetermined upside cap of 10.78 per cent while providing a buffer against the first 15 per cent of Underlying ETF losses, over the period from May 20, 2024, through May 16, 2025.

PGIM Investments launched four buffer ETFs:

PGIM US Large-Cap Buffer 12 ETF – November (Ticker: NOVP) 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 – November (Ticker: PBNV) 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 – December (Ticker: DECP) 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 – December (Ticker: PBDE) 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% 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 May, click here

To view the Global ETF launches for May 23rd to 30th, 2024, click here.

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