AllianceBernstein Unveils 5 New Active ETFs
AllianceBernstein, which manages nearly $700 billion in assets, is launching five active ETFs, adding to the record number of active exchange-traded funds that have already been started this year and doubling the number of ETFs it offers now in the U.S.
The new funds include the following: AB Conservative Buffer ETF (BUFC), AB Tax-Aware Intermediate Municipal ETF (TAFM), AB Tax-Aware Long Municipal ETF (TAFL), AB Corporate Bond ETF (EYEG) and AB Core Plus Bond ETF (CPLS).
TAFL and TAFM will be listed on the New York Stock Exchange, and the remainder will trade on Nasdaq.
“On the heels of crossing the $1 billion threshold in active ETF AUM, these new ETFs will provide clients with a broadened suite of versatile products, built to help investors navigate the evolving market cycles we see coming in 2024 and beyond,” Noel Archard, AllianceBernstein’s global head of ETFs and portfolio solutions, said in a statement released today.
BUFC is a “buffered” product, which means it will use an options strategy to try to limit any downside. It will invest in options on an underlying ETF that tracks the S&P 500.
The other four funds are fixed-income ETFs.
Fixed-Income ETFs
“Our fixed-income and ETF teams continually seek to deliver AB’s unique, tech-driven investment process in an active platform to both our clients and the broader ETF community,” said Scott DiMaggio, co-head of fixed income, at AllianceBernstein.
AllianceBernstein manages almost $700 billion in assets. Before the launch, it had five ETFs that traded in the U.S. The largest— the AB Ultra Short Income ETF (YEAR)—has $595 million in assets under management.
A record 309 active ETFs had been brought to market this year in the U.S. as of Nov. 1, surpassing the previous high mark of 305 in 2021, as more investors look past passive funds in an effort to beat the market.
Correction: TAFL and TAFM will be listed on the New York Stock Exchange, and the remainder will trade on Nasdaq. This was reported incorrectly in a previous version of this story.
