Daily ETF Watch: iShares Rebrands Funds

May 13, 2016

With the launch of its nine “iShares Edge” multifactor sector ETFs on Thursday, iShares also announced the rebranding of its entire existing family of 26 factor ETFs. Like the new sector ETFs, the 26 existing iShares factor ETFs, including the multifactor FactorSelect family, will now all carry the “iShares Edge” brand.

A press release noted that the new iShares Edge brand encompasses eight single-factor, 15 multifactor, 11 minimum-volatility and one fixed-income ETF with more than $28 billion in combined assets under management.

Additionally, the fixed-income fund in the Edge family, the iShares Edge U.S. Fixed Income Balanced Risk ETF (INC | C) is changing its ticker to FIBR today.

Amplify Plans Dow Theory ETF

Amplify Investments has filed for an ETF that will rely on a “Buy List” in the Dow Theory Forecasts investment newsletter, which is regularly published by an affiliate of Horizon Investment Services. The Amplify Dow Theory Forecasts Buy List ETF will be actively managed, and thus will not be restricted to investing exactly as dictated by the Buy List.

The list is updated every two weeks and generally includes 25-40 large- and midcap U.S. stocks selected and ranked within Horizon’s proprietary Quadrix system, according to the prospectus. Quadrix covers 5,000 stocks and evaluates them based on momentum, valuation, track record, financial strength, earnings estimates and share price.

The fund also has some guidelines for diversification. It will generally look to diversify its holdings across the 10 major sectors while limiting any single sector to 45% of the portfolio and any single stock to 8%, the prospectus said. It also noted that while the Buy List will not always be fully invested, the fund will aim to do so and will adapt the recommended target weights in the Buy List accordingly.

The filing did not include a ticker or expense ratio, but it did indicate the fund would list on the Nasdaq stock exchange.

Contact Heather Bell at [email protected].

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