Americas ETP News
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Innovator Announces Launch of Equity Defined Protection ETF
July 18, 2023--The first-to-market ETF of its kind aims to offer investors equity market exposure, to a cap, with a 100% buffer against downside losses
Innovator Capital Management, LLC (Innovator), pioneer and provider of the largest lineup of Defined Outcome ETFs, today announced the launch of the Equity Defined Protection ETF (TJUL). The first of its kind ETF seeks to provide investors with the upside return of the SPDR S&P 500 ETF Trust (SPY), to a 16.62% cap, and a 100% buffer against SPY losses over a two-year outcome period.
Investors facing uncertain market conditions and the threat of a potential recession have historically only had access to this type of investment strategy in structures that carry high investment minimums, long lockup periods, or high tax burdens. In spite of their features, investors have poured $billions into those structures in order to gain exposure to the compelling underlying risk/reward profile. With the availability of these strategies now in the ETF structure, investors have flocked to defined outcome ETFs, bringing Innovator’s suite to over $13 billion in AUM (as of 7/17/2023).
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Source: Innovator Capital Management
Touchstone Investments Launches Securitized Income-Focused ETF Further Expanding Distinctively Active Product Suite
July 18, 2023--The Touchstone Securitized Income ETF is Sub-advised by Fort Washington Investment Advisors
Touchstone Investments, known for its Distinctively Active mutual funds and exchange traded funds (ETFs), announced today the launch of the Touchstone Securitized Income ETF, an actively-managed, fully-transparent ETF that seeks to invest in a diversified portfolio of fixed-income securities, which begins trading on July 19, 2023.
The Touchstone Securitized Income ETF, in seeking to achieve its investment objective of capital appreciation, is designed to offer investors a comprehensive framework of investments in well-positioned securitized fixed-income securities, including residential mortgage-backed securities; commercial mortgage-backed securities; asset-backed securities; and collateralized loan obligations, which may include U.S. Treasury securities; U.S. government agency securities; securities of government-sponsored enterprises; municipal bonds and cash equivalents.
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Source: Touchstone Investments
BlackRock to expand proxy voting choice to retail ETF investors
July 17, 2023--The world's top asset manager BlackRock said it will offer proxy voting choices to U.S. retail investors of its biggest exchange-traded fund, expanding a strategy that could blunt criticism of how the firm considers environmental, social and governance (ESG) matters.
A representative for New York-based BlackRock said it plans to announce on Monday that investors in its iShares Core S&P 500 ETF (IVV.P) will be able to chose among a range of policies to determine how the fund votes their shares at corporate annual meetings.
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Source: reuters.com
Pacer ETFs Surpasses $25B Milestone in Assets Under Management
July 17, 2023--The firm continues impressive growth trajectory with a 25% increase in assets year to date
Industry leading ETF provider Pacer ETFs announces today that the firm has surpassed $25B in assets under management as of July 11, 2023.
This achievement is particularly noteworthy as the firm celebrated its $20B AUM milestone in January of this year, delivering a 25% growth rate in less than 7 months. Pacer accomplished this impressive rise to $25 billion AUM in just 8 years since its inception in 2015.
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Source: Pacer ETFs
ETFs shrug off pending multitrillion dollar Nasdaq 100 revamp
July 17, 2023--There is no evidence yet of front-running despite decision to massively reduce weightings of tech giants
A multitrillion-dollar revamp of one of the world's largest stock market indices looks set to be a bit of a damp squib in the exchange traded fund world.
The combined weighting of six vast technology behemoths-Microsoft, Apple, Alphabet, Nvidia, Amazon and Tesla-in the Nasdaq 100 index is due to be slashed from the 50.9 per cent they reached at the close of trading on July 7, when the "special rebalance" was announced, to just 40 per cent.
The revamp, which will be enacted at close of trading on July 21, is designed to ensure funds tracking the Nasdaq 100 do not breach industry-wide fund-concentration limits, after a strong rally by the tech mega-caps drove their combined weighting beyond limits set by the Securities and Exchange Commission, the regulator.
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Source: ft.com
Market maker Citadel set to accelerate credit trading transformation
July 13, 2023--High-frequency firm started offering US investment-grade bond trading to clients in June
Citadel Securities' entry into America's $10tn corporate bond market looks set to turbo charge an electronic trading revolution in an asset class once dominated by large banks and telephone transactions, say investors and industry executives.
Ken Griffin's high-frequency market-making firm, which acts as an intermediary between buyers and sellers of assets and handles $463bn in trades each day, started offering US investment-grade bond trading to clients in June.
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Source: ft.com
SEC dealt legal setback in effort to tame crypto market
July 13, 2023--In closely watched case against Ripple, judge says tokens sold on public exchanges were not securities
US regulators were dealt a setback in their effort to restrict the sale of cryptocurrencies on Thursday when a judge found that Ripple Labs did not violate securities law by selling digital tokens to members of the public.
The Securities and Exchange Commission filed a civil lawsuit against the cryptocurrency pioneer in December 2020, claiming that Ripple sold $1.38bn worth of its XRP token without filing the registrations required under securities laws.
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Source: ft.com
Global X ETFs Launches the U.S. Cash Flow Kings 100 ETF (FLOW)
July 12, 2023--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today announced the launch of the Global X U.S. Cash Flow Kings 100 ETF (FLOW). The fund provides access to companies which exhibit high free cash flow yields and represents the latest addition to Global X's growing suite of Income funds.
Even as the Federal Reserve slows its pace of interest rate hikes, rates may remain elevated for a significant period due to stickier parts of inflation such as housing and wages. In a high interest rate environment, companies with high levels of free cash flow-or cash available to investors after accounting for operating expenses and capital expenditures-may be particularly appealing. Free cash flow may offer a level of insight into a company's financial health and corporate flexibility. FLOW's underlying index selects the top 100 constituents by free cash flow yield over the last twelve months from within the Mirae Asset U.S. 1000 Index, which tracks the performance of the top 1,000 U.S. companies by market capitalization.
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Source: Global X Management Company LLC
Simplify Launches First-of-its-Kind Multi-Quantitative Strategy ETF (QIS)
July 11, 2023--Simplify team curates a diversified portfolio of quantitative strategies from across Wall Street to create ETF access to an investment category used by the biggest hedge funds and institutions
Simplify Asset Management ("Simplify"), an innovative provider of Exchange Traded Funds ("ETFs"), is today announcing the launch of its newest fund, the first-of-its-kind Simplify Multi-QIS Alternative ETF (QIS).
QIS is designed to play a key role for advisors and investors in delivering positive absolute returns and income and seeks to do so by investing in a diversified portfolio of third-party quantitative investment strategies across equities, interest rates, commodities, and currencies.
The QIS approach begins with Simplify evaluating thousands of quantitative strategies managed by the biggest investment banks, narrowing that universe down to the few hundred with the most compelling risk-adjusted return characteristics.
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Source: Simplify Asset Management Inc.
Guardian Capital LP Launches Ultra Short-Term Canadian and U.S. T-Bill Funds
July 11, 2023--Guardian Capital LP (Guardian Capital) is excited to announce the launch of the ETF series of Guardian Ultra-Short Canadian T-Bill Fund and Guardian Ultra-Short U.S. T-Bill Fund (the Guardian Funds), which are expected to commence trading on the Toronto Stock Exchange (TSX) when the market opens this morning.
These Guardian Funds are designed to provide investors with interest income and access to low-risk, high-quality cash alternatives by investing primarily in short-term Canadian and U.S. treasury bills, as applicable.
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Source: Guardian Capital LP
