Americas ETP News
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AI adoption in the ETF industry begins to grow
September 25, 2021--Debate over whether the systems can truly remove human bias and how much supervision they need
The growing appreciation that human stockpickers struggle to outperform their benchmark indices has helped fuel a massive surge in assets held by passively managed exchange traded funds.
Now some companies are hoping to show that artificial intelligence can finally give them an edge.
The technology is fast-evolving but at least two fund managers, EquBot and Qraft Technologies, running dedicated AI-powered ETFs are claiming early success...
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Source: FT.com
New York Fed researchers develop climate stress test for banks
September 24, 2021--Researchers at the New York Federal Reserve Bank have developed an approach to measuring banks' exposures to climate-related risks, a possible early step toward assessing whether financial institutions have enough capital on hand to withstand them.
The publication Friday of a paper describing the new methodology may mark an early step toward an eventual "climate stress test" for U.S. banks. It's an approach already used by other global central banks but that has drawn intense criticism from U.S. Republican lawmakers who say that monitoring for such risk goes beyond the central bank's remit.
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Source: reuters.com
Direxion Launches New Daily 2X Leveraged ETF
September 23, 2021--New ETF Provides 200% Exposure to Construction & Engineering Services and Industrial Transportation
Direxion launched the Direxion Daily US Infrastructure Bull 2X Shares (Ticker: DOZR). The Fund seeks to achieve 200% of the daily performance of the Indxx US Infrastructure Index.
The Indxx US Infrastructure Index provides exposure to companies involved in infrastructure through engineering, design, maintenance, and construction of infrastructure projects.
As of September 17, 2021, the Index consisted of 74 constituents, which had an average total market capitalization of $3.1 billion, total market capitalizations ranging from $267 million to $134 billion and were concentrated in the industrials and utilities sectors.
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Source: Direxion
Brazil: Sustaining a Strong Recovery
September 23, 2021--Brazil's economy has returned to pre-pandemic levels, supported by booming terms of trade and robust private sector credit growth, and one of the biggest stimulus packages in emerging markets-nearly 4 percent of GDP in emergency cash transfers alone in 2020.
The country has been hit hard by the pandemic, however. COVID-19 has claimed the lives of more than 550,000 Brazilians, the second highest death toll worldwide. Renewed lockdowns following a severe second wave and the rollout of vaccinations have helped bring down infections since April, with new daily COVID-19 cases and deaths falling significantly from their peaks. But rates of unemployment and poverty remain high. Inflation too has surged, weighing on the outlook.
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Source: IMF
Amplify ETFs Launches the Amplify Digital & Online Trading ETF (NYSE: BIDS)
September 22, 2021--First-to-Market ETF Focused on E-brokers & Digital Asset Marketplace Stocks
Amplify ETFs announces the launch of the Amplify Digital & Online Trading ETF (NYSE: BIDS), an index-based ETF that seeks to capitalize on the rise of digital and online trading of securities and digital assets. BIDS seeks investment results that generally correspond to the BlueStar(R) Global E-Brokers and Digital Capital Markets Index (the "Index").
Online-focused brokerage firms, as well as digital asset marketplaces, represent two elements of a fast-growing segment within financial services that traditional financial stock benchmarks ignore. Lower trading costs, convenient user interfaces, and the rise of digital assets are just several factors driving demand for online trading today. This demand, coupled with powerful yet accessible portfolio management tools, is creating a compelling value proposition for both first-time and veteran investors.
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Source: Amplify ETFs
Hartford Funds Launches Its First Sustainable Investing-Focused Fixed Income ETF
September 22, 2021--Hartford Funds today announced the launch of an actively managed, ESG-focused fixed income exchange-traded fund ("ETF"), Hartford Sustainable Income ETF (CBOE: HSUN), which will be sub-advised by Wellington Management Company LLP. HSUN seeks to provide current income and long-term total return, within a sustainability framework.
HSUN will invest across an array of fixed income sectors including High Yield, Investment Grade, Bank Loans, and Emerging Market Debt. In addition, the ETF will incorporate a sustainability framework as part of its principal investment strategy. The ETF will track its performance against the Bloomberg U.S. Aggregate Bond Index. HSUN will be managed by the same portfolio management team that currently manages The Hartford Strategic Income Fund. Campe Goodman, Joseph F. Marvan, and Robert Burn will serve as the ETF’s portfolio managers.
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Source: Hartford Funds
Hoya Capital Launches RIET-High Dividend Yield ETF
September 22, 2021-- Hoya Capital Real Estate-an award-winning ETF issuer and research-focused investment advisor-announced the launch of its second fund, Hoya Capital High Dividend Yield ETF (Ticker: RIET).
RIET tracks the Hoya Capital High Dividend Yield Index ("RIET Index"), a rules-based index designed to provide diversified exposure to 100 of the highest dividend-yielding real estate securities in the United States.
RIET expects to pay monthly distributions. The RIET Index Dividend Yield as of 8/31/2021 is 6.70%.* Click here to view yields and standardized performance.view more
Source: Hoya Capital Real Estate
Federal Reserve issues FOMC statement
September 22,2021--The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen.
The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery. Inflation is elevated, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.
The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation having run persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent.
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Source: federalreserve.gov
Federal Reserve Board and Federal Open Market Committee release economic projections from the September 21-22 FOMC meeting
September 22, 2021--Summary of Economic Projections
In conjunction with the Federal Open Market Committee (FOMC) meeting held on September 21-22, 2021, meeting participants submitted their projections of the most likely outcomes for real gross domestic product (GDP) growth, the unemployment rate, and inflation for each year from 2021 to 2024 and over the longer run.
Each participant's projections were based on information available at the time of the meeting, together with her or his assessment of appropriate monetary policy-including a path for the federal funds rate and its longer-run value-and assumptions about othe rfactors likely to affect economic outcomes.
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Source: federalreserve.gov
First Trust Launches the First Trust SkyBridge Crypto Industry and Digital Economy ETF
September 21, 2021--An actively managed ETF that provides exposure to companies that are driving innovation in the crypto industry and digital economy
First Trust Advisors L.P. ("First Trust"), a leading exchange-traded fund ("ETF") provider and asset manager, announced today that it has launched a new actively managed ETF, the First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSE Arca: CRPT) (the "fund").
The fund seeks to provide capital appreciation by investing, under normal market conditions, at least 80% of its net assets (plus any investment borrowings) in the common stocks and American Depositary Receipts ("ADRs") of crypto industry companies and digital economy companies. Further, under normal market conditions, the fund will invest at least 50% of its net assets (plus any investment borrowings) in crypto industry companies.
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Source: First Trust
