Pacer Financial was founded in 2004 and launched its first ETF in 2015. The firm's lineup is dominated by its Trendpilot ETFs, which use moving averages to adjust their allocations between Treasurys and a targeted asset class. However, Pacer's involvement in the ETF industry stretches back over several years, as it has partnered with other firms to market their ETFs and ETF-related strategies via its wholesaling operations.
Principal Financial Group is a global investment manager with $527.4 billion in assets under management as of the end of 2015. The Principal EDGE Active Income ETF (YLD), currently the only listed Principal-branded ETF, is an actively managed fund subadvised by Principal-owned investment boutique EDGE Asset Management. YLD provides current income through exposure to global equities, debt, MBS/ABS, preferred stock, MLPs and REITs.
Reaves Asset Management is an investment manager focused on the utilities, energy and telecommunications sectors. It has more than $2 billion in assets under management and serves both institutional and retail clients. The Reaves Utilities ETF (UTES) is currently the only ETF trading under the brand; UTES is an actively managed fund that invests in U.S.-listed utilities companies based on their fundamental, growth and risk metrics.
Sit Fixed Income Advisors II is a registered commodity trading advisor and a subsidiary of investment manager Sit Investment Associates. The Sit Rising Rate ETF (RISE) is an actively managed ETF that aims to capitalize on rising interest rates by taking short positions in futures contracts on two-, five- and 10-year Treasurys. RISE is Sit's first ETF, but the firm has previously delivered the strategy to investors in other wrappers.
Tierra Funds is an ETF sponsor with a focus on what it describes as the "increasingly integrated Americas capital markets." Its first fund, the Tierra XP Latin America Real Estate ETF (LARE), targets companies that generate their revenues primarily from real-estate-related operations. LARE's underlying index weights companies based on their market cap, average dividend yield and liquidity. It is the first ETF to cover the Latin America real estate space.
Tortoise Capital Advisors is an investment manager focused on energy investing. The firm's Index Solutions arm launched its only ETF so far halfway through last year. The Tortoise North American Pipeline ETF (TPYP) is structured as a regular ETF, and targets MLPs and MLP-related companies. Because of its structure, MLPs are not allowed to represent more than 25% of the total portfolio, and the index sets the cap even lower, at 20%.
New York City-based TrimTabs is not exactly new to the ETF space. AdvisorShares launched its own actively managed fund using the firm's strategy back in 2011. However, 2015 saw the launch of the index-based TrimTabs International Free Cash Flow ETF (FCFI) under the TrimTabs brand. FCFI's underlying index covers companies with high free cash flows from 10 different non-U.S. countries, and implements a two-tiered equal-weighting scheme.
Tuttle Tactical Management sponsors two actively managed ETFs that it launched using Virtus' exemptive relief. Both funds make allocation decisions based on market currents and crosscurrents, and implement multiple strategies to achieve their goals. Tuttle mainly operates as an ETF strategist, providing tactical ETF strategies to other investment professionals and their clients; the firm is best known for its use of trend aggregation strategies.
U.S. Global Investors is an investment management firm specializing in global markets and niche sectors. The firm started as an investment club and eventually became a registered investment advisor in 1968. U.S. Global's first ETF, the U.S. Global Jets ETF (JETS), covers companies worldwide that operate airlines or that are involved in an industry connected to airlines, such as operating airports, manufacturing aircraft and providing terminal services.
Virtus ETF Solutions, formerly known as ETF Issuer Solutions, is a subsidiary of Virtus Investment Partners. Although it operates as a multimanager ETF platform and is the issuer behind several ETFs, it only has one ETF carrying its brand name right now, the actively managed Virtus Newfleet Multi-Sector Unconstrained Bond ETF (NFLT | F). The fund is a "go anywhere" fixed-income ETF that is managed by Newfleet Asset Management.