August 2019 ETF Filing Roundup

While launches were particularly sparse during the month of August, filings proliferated, with prospectuses for nearly 30 new funds finding their way to the SEC.

Most notably, Goldman Sachs filed for six additions to its “Access” lineup of fixed income ETFs.

• Goldman Sachs Access U.S. Aggregate Bond ETF
• Goldman Sachs Access China Bonds ETF
• Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF
• Goldman Sachs Access Investment Grade Corporate 10+ Year Bond ETF               
• Goldman Sachs Access Total Bond Market ETF
• Goldman Sachs Access U.S. Treasury Total Market Bond ETF

Factor Funds

First Trust has filed for three actively managed factor-focused ETFs covering the three major size segments of the U.S. stock market. The funds will focus on the value, momentum, quality and low volatility factors:

• First Trust Active Factor Large Cap ETF
• First Trust Active Factor Mid Cap ETF
• First Trust Active Factor Small Cap ETF

Meanwhile, iShares has filed for two style funds that will track Russell indexes and incorporate the momentum, quality, value, size and low volatility factors:

• iShares Factors US Growth Style ETF
• iShares Factors US Value Style ETF

Smaller Firms

Cambria also filed for an ETF that will seek to invest in companies that have similar characteristics to private equity funds, the Cambria Private Equity Strategy ETF (LBO). The firm further filed for the Cambria Venture Capital Strategy ETF that will look to do the same thing with regard to companies that exhibit similar returns to venture capital firms. Both ETFs will be actively managed.

And Strategy Shares teamed up with advisory firms to file for two ETFs. The Day Hagan/Ned Davis Research Smart Sector ETF will be managed by Day Hagan Asset Management using models that the firm developed with Ned Davis Research, while the Newfound/ReSolve Robust Equity Momentum Index ETF (ROMO) is based on an index developed by Newfound Research and ReSolve Asset Management.

Relative newcomer Pacific Global Asset Management, which only has one ETF currently trading, the Pacific Global U.S. Equity Income ETF (USDY), has filed for another trio of funds, all of which are focused on generating income:

• Pacific Global International Equity Income ETF
• Pacific Global Focused High Yield ETF
• Pacific Global Senior Loan ETF

One-Off Filings

There were also a number of standalone ETF filings from the likes of AdvisorShares, Innovator, Fidelity, Advisors Asset Management and others. In particular, the AdvisorShares ETF is a sort of sequel to the AdvisorShares Pure Cannabis ETF (YOLO). The AdvisorShares Pure US Cannabis ETF (MJUS) will focus on U.S. companies in the marijuana space.

The other filings include the following:

• AAM Low Duration Preferred and Income Securities ETF (PFLD)
• PIMCO Enhanced Short Maturity Active ESG Exchange-Traded Fund
• Innovator S&P 500 Buffer ETF – November
• Fidelity Stocks For Inflation ETF
• Core Alternative ETF (CCOR)
• RPAR Risk Parity ETF (RPAR)

Contact Heather Bell at [email protected]