Odds & Ends: ETF Launches, Closures Dominate Week
Launches and closures stood out in a week that featured no changes to existing exchange-traded funds.
Among the ETFs making their debut was the actively managed Calamos Antetokounmpo Global Sustainable Equities ETF (SROI), a fund that marks the return to the ETF industry of Calamos Investments, which previously left the space in 2016 with the closure of its remaining ETF.
The fund launched Monday with the support of Milwaukee Bucks forward Giannis Antetokounmpo and focuses on sustainable criteria including typical ESG criteria, and excluding companies with significant involvement in tobacco and weapons, alcohol, animal testing, and metals and mining. SROI has an expense ratio of 0.95% and lists on the NYSE.
Tuesday saw the rollout of the WisdomTree Voya Yield Enhanced USD Universal Bond Fund (UNIY), which tracks the Bloomberg US Universal Enhanced Yield Index. The underlying index covers investment-grade and high yield debt securities denominated in U.S. dollars that fall into the categories of U.S. investment-grade debt, restricted securities, eurodollar debt, corporate high yield debt and emerging market debt. UNIY has an expense ratio of 0.15% and lists on the Nasdaq.
On Wednesday, Toroso Investments launched the Return Stacked Bonds & Managed Futures ETF (RSBT), which is subadvised by Newfound Research. The actively managed fund offers exposure to a bond strategy and a managed futures strategy that is advised by ReSolve Asset Management. The bond strategy targets the broad U.S. fixed income market through a combination of bond ETFs, Treasury securities and Treasury futures. Meanwhile, the managed futures strategy invests in futures contracts on commodities, currencies, equities and fixed income via a quantitative approach. RBST comes with a 0.97% expense ratio and lists on Cboe Global Markets.
Also on Wednesday, Simplify added another fund to its lineup with the debut of the actively managed Simplify Propel Opportunities ETF (SURI). The fund, which is subadvised by Propel Bio Management, combines investment in the equity and fixed income securities of companies operating in specific industries within the health care sector, with a derivatives strategy implementing put and call options to provide leverage to the fund. SURI charges an expense ratio of 2.52% and lists on the NYSE Arca.
Closures
The week also featured a number of closure announcements.
The Impact Shares Sustainable Development Goals Global Equity ETF (SDGA), which launched in September 2018, will see its last day of trading on Feb. 24, while the UBC Algorithmic Fundamentals ETF (UBCB) is set to cease to trade after Feb. 13, having launched in December 2021.
Direxion will also shutter four of its funds after the market close on Feb. 17. Those funds are as follows:
Contact Heather Bell at heather.bell@etf.com
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