## [# ETF Watch: Transamerica Plans Funds](/sections/daily-etf-watch/etf-watch-transamerica-plans-funds)
# ETF Watch: Transamerica Plans Funds
Insurance and investment juggernaut outlines its ETF market entry.
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[By ETF.com Staff](/contributors/etfcom-staff)
Mar 14, 2017
Edited by: ETF.com Staff
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A recent filing from Transamerica, one of America’s largest insurance and investment holding companies, details the firm’s plans for launching [five multi-asset ETFs](https://www.sec.gov/Archives/edgar/data/1673996/000119312517079888/d345724dn1a.htm). Each of the DeltaShares ETFs will allocate its assets among an S&P equity index, the S&P U.S. Treasury Bond Current 5-Year Index and the S&P U.S. Treasury Bill 0-3 Month Index based on volatility levels.
The five proposed funds include the following:
- DeltaShares S&P 500 Managed Risk ETF
- DeltaShares S&P MidCap 400 Managed Risk ETF
- DeltaShares S&P SmallCap 600 Managed Risk ETF
- DeltaShares S&P International Managed Risk ETF
- DeltaShares S&P Emerging Markets Managed Risk ETF
The first three funds’ equity allocations are tied to popular domestic equity indexes, while the international and emerging market ETFs’ equity portions will track the S&P EPAC Ex-Korea LargeMidCap Index and S&P Emerging Plus LargeMidcap Index, respectively.
Each fund’s benchmark index has a designated volatility level, and when that level is exceeded, the benchmark index allocates more weight from its component equity index to either or both of its fixed-income subindexes. The split between the two fixed-income indexes is determined by the yield spread between them. Each of the component indexes can be weighted at as little as 0% and as much as 100%, if necessary. When the main benchmark index’s volatility is low, more weight is allocated to the equity index.
Each fund’s underlying index rebalances on a daily basis.
The filing did not include expense ratios, tickers or a listing exchange.
**Last US-Listed RBC Product Closed**
Monday was the last day of trading for Royal Bank of Canada’s (RBC) only U.S.-listed ETN. The [RBC S&P 500 Trend Allocator Index ETN (TALL)](https://www.etf.com/TALL) launched less than a year ago—June 28—and failed to gather meaningful assets.
The product used the S&P 500 Index’s 200-day moving average as a risk-on/risk-off toggle to signal whether it should maintain its exposure to the S&P 500 or switch into cash.
The strategy is similar to the Trendpilot strategies used by some of Pacer Financial’s ETFs, but it came with a heftier expense ratio—0.85%. That may have held it back; although none offer an S&P 500 strategy, the Pacer Financial Trendpilot ETFs all have expense ratios of 0.66% or lower.
The ETN’s shutdown brings the total of realized and scheduled ETF closures for the month of March to 17, matching the prior year’s level. Last year was a record year for fund closures, and 2017 has been off to a slow start by comparison—March’s results suggest that could be changing.
*Contact Heather Bell at .*
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