Advisors Asset Management has launched its first active ETF, a dividend fund focusing on small and midcap companies.
The AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) rolled out on the NYSE Arca Thursday with an expense ratio of 0.60%.
The fund will select from a universe of companies that have market capitalizations between $200 million and the highest capitalization in the Russell 2500, which is Enphase Energy, at $23.4 billion as of Wednesday.
SMIG’s subadvisor Bahl & Gaynor will then select constituents based on historical earnings data, underlying company fundamentals and broader economic trends.
SMIG is fully transparent, and is the only small or midcap actively managed dividend ETF, based on data from ETF.com provider FactSet.
AAM currently has just over $121 million in assets across its four existing ETFs.