Americas ETP News
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Columbia Threadneedle Investments Expands Strategic Beta Fixed Income Suite with Launch of Columbia Short Duration Bond ETF (SBND)
September 21, 2021--Columbia Threadneedle Investments today announced the expansion of its strategic beta fixed income exchange-traded fund (ETF) offerings with the launch of Columbia Short Duration Bond ETF (NYSE Arca: SBND), a short-duration bond strategy focused on generating income in four segments of the debt markets.
SBND tracks the firm's proprietary Beta Advantage(R) Short Term Bond Index, which provides a rules-based approach to investing that is diversified and weighted toward opportunity rather than indebtedness.
SBND seeks to broaden investors' income opportunity set by tracking an index resulting in a short-duration portfolio that does not sacrifice yield or take on excessive credit risk. The ETF aims to provide investors with a diversified portfolio of fixed income securities across four income-producing debt segments-U.S. investment grade corporates, U.S. investment grade securitized debt, U.S. high yield, and emerging market sovereign and quasi-sovereign debt-with a balance of yield, quality, and liquidity, SBND's rules-based indexed investment approach aims to address investor concerns that lowering duration equates to sacrificing yield, regardless of the interest rate environment.
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Source: Columbia Threadneedle Investments
FlexShares Launches New Suite of Four ESG ETFs Focused on Climate
September 21, 2021--Northern Trust Asset Management’s FlexShares(R) Exchange Traded Funds announced today the launch of a new suite of core Environmental, Social and Governance (ESG)* ETFs focused on climate, including:
FlexShares ESG & Climate US Large Cap Core Index Fund (NYSE: FEUS)
FlexShares ESG & Climate Developed Markets ex-US Core Index Fund (NYSE: FEDM)
FlexShares ESG & Climate Investment Grade Corporate Core Index Fund (NYSE: FEIG)
FlexShares ESG & Climate High Yield Corporate Core Index Fund (NYSE: FEHY)
The four new climate ETFs add to FlexShares' existing ESG ETF offerings, FlexShares STOXX US ESG Select Index Fund (ESG) and FlexShares STOXX Global ESG Select Index Fund (ESGG). The new fund suite seeks to help investors improve their portfolio's overall ESG score and reduce carbon risk, while maintaining core equity and fixed-income exposure. The funds utilize the Northern Trust ESG Vector Score** as well as a carbon risk rating in an effort to hedge ESG-related risks and capitalize on sustainable opportunities.
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Source: FlexShares
Quadratic Capital Management Launches the Quadratic Deflation ETF (BNDD)
September 21, 2021--Quadratic Capital Management, an innovative asset management firm, today announced the launch of the Quadratic Deflation ETF (NYSE Arca: BNDD).
Managed by Nancy Davis, Quadratic Capital Management's Founder and Chief Investment Officer, BNDD seeks to profit from a variety of challenging environments including lower growth, deflation, lower or negative long-term interest rates, and/or a reduction in the spread between shorter and longer-term interest rates by investing in U.S. Treasuries and options.
In the U.S., government debt levels have soared recently amid multiple rounds of fiscal stimulus in response to the Covid-19 pandemic. Other recent trends include an aging population, advancements in technology, tax increases and increasing productivity.
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Source: Quadratic Capital Management
CrossingBridge Advisors Launches Pre-Merger SPAC ETF For Investors As A Fixed Income Alternative
September 21, 2021--CrossingBridge Pre-Merger SPAC ETF (SPC) to focus on fully-collateralized SPACs
September 21, 2021--CrossingBridge Advisors, LLC ("CrossingBridge") an investment-management firm specializing in ultra-short and low-duration strategies, including special purpose acquisition companies (SPACs), today announced the launch of the CrossingBridge Pre-Merger SPAC ETF [NASDAQ: SPC].
Typically, SPACs are fully collateralized by U.S. government securities with a mandatory liquidation date within two years. SPC will purchase SPACs at or below collateral value with the intent of disposing of the shares prior to, or at the time of, a business combination. Consequently, CrossingBridge believes that a portfolio of pre-merger SPACs will provide investors with higher yields than other fixed-income products while significantly limiting downside risk.
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Source: CrossingBridge Advisors, LLC
First Trust Announces Trading Halt of Shares of QSPT and YSEP on Cboe BZX Exchange, Inc
September 20, 2021--First Trust Advisors L.P. ("First Trust") announced today that it has requested Cboe BZX Exchange, Inc. (the "Exchange") to temporarily halt the trading of shares of FT Cboe Vest Nasdaq-100(R) Buffer ETF - September (ticker: QSPT) and FT Cboe Vest International Equity Buffer ETF- September (ticker: YSEP) (together, the "Funds") from 8:30 a.m. Central time today, Monday, September 20, 2021.
The request was the result of the identification of operational issues that would prevent the Funds from creating or redeeming shares on the primary market.
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Source: First Trust
First Trust Lists September Series of Target Outcome Buffer ETFs Based on QQQ and EFA
September 20, 2021--Upside caps announced for QSPT and YSEP, which seek a balance of upside performance potential with a downside buffer
The funds join First Trust's lineup of fast-growing actively managed Buffer ETFs.
First Trust Advisors L.P. ("First Trust") a leading exchange-traded fund ("ETF") provider and asset manager announced today that it has expanded its suite of Target Outcome ETFs(R) with Buffer Strategies based on Invesco QQQ TrustSM Series 1 ("QQQ") and iShares MSCI EAFE ETF ("EFA"). These actively managed ETFs use FLexible EXchange(R) Options ("FLEX Options") to seek to provide targeted market exposure to underlying ETFs ("reference assets") that are based on market indexes, while providing a defined downside buffer level, over a specific Target Outcome Period, which First Trust believes removes some of the uncertainty associated with investing.
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Source: First Trust
Franklin kept initial filing for gold ETF secret
September 20, 2021--The fund has been in the works since at least the spring even though no public records exist
Franklin Templeton has been quietly working with regulators to launch an ETF to rival those of State Street and iShares, with its plans for the product kept secret until this month.
Late last month, NYSE Arca asked the Securities and Exchange Commission to list the Franklin Responsibly Sourced Gold ETF on its exchange, according to a September 1 notice on the SEC's website. The SEC's approval via a so-called 19b-4 request is necessary for commodity-based ETFs such as Franklin's to launch on the public market.
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Source: ft.com
Following SEC notice, Coinbase abandons plan for crypto lending program
September 20, 2021--The exchange hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring its Lend product to the market.
United States-based cryptocurrency exchange Coinbase has announced it will not be pursuing its Lend crypto lending program.
In a Sept. 17 update to a blog announcing the program in June, Coinbase hinted at difficulties in regulatory clarity across the crypto industry in its decision to not bring the crypto lending product to the market. According to the exchange, "hundreds of thousands of customers from across the country" had already signed up for Lend, a program that aimed at offering 4% annual yield returns on deposits of USD Coin (USDC).
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Source: cointelegraph.com
Wall Street trading groups step up incursion into crypto markets
September 17, 2021--Jane Street and Jump Trading among financial companies that are boosting their digital asset units
Several of Wall Street's biggest trading companies have unveiled plans to stake out territory in cryptocurrency markets, opening a new front in their battle to win lucrative business from institutional investors.
Jump Trading, GTS and Jane Street, among the largest players in the US equity market, are stepping up their trading in digital assets after years of secrecy surrounding their early forays into these markets.
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Source: ft.com
State Street-Invesco deal may leave both in limbo
September 17, 2021--Mergers between asset managers are a pit stop in the race to the bottom. Fund manager Invesco is in talks to merge with State Street's asset management arm, the Wall Street Journal reported on Thursday. A tie-up looks valuable on paper, but still leaves both companies in limbo.
Asset managers are struggling to distinguish themselves as passive funds commoditize their business. Last year, the average passively managed product charged just 0.1%, one sixth the fee of an active exchange-traded fund, according to data from Morningstar.
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Source: reuters.com
