As the week ended on Friday, Feb. 4, the ETF space reached a total of 44 launches year-to-date. That’s more than the 37 that had launched by this time last year. Don’t forget that 2021 was a record-breaking year nearly 480 new funds launched.
Among the week’s seven new funds was the iMGP RBA Responsible Global Allocation ETF (IRBA), which launched on the NYSE Arca on Tuesday with an initial expense ratio of 0.69%. The fund’s waiver of six basis points expires at the end of next January.
The actively managed fund allocates into other ETFs across multiple asset classes and geographies based on research by subadvisor Richard Berstein Advisors, and includes ESG screens against funds that invest in coal, weapons and tobacco manufacturers.
IRBA is the third U.S.-listed ETF from French asset manager iM Global Partner after the $59.25 million iMGP DBi Managed Futures Strategy ETF (DBMF) and $20.28 million iMGP DBi Hedge Strategy ETF (DBEH).
The Morgan Creek-Exos Active SPAC Arbitrage ETF (CSH) debuted on the NYSE Arca Tuesday, charging an expense ratio of 1.25%.
CSH invests in packages of blank-check company stock, warrants and rights before the SPAC announces a merger with a private company seeking to join the public markets. After a merger announcement is made, the fund then sells off its position in the SPAC.
Harbor Capital added its fourth ETF on Thursday with the Harbor Long-Term Growers ETF (WINN) on the NYSE Arca Thursday, charging an expense ratio of 0.57%.
WINN is actively managed and holds U.S. stocks that Harbor believes is set for sustained growth over the long term based on bottom-up research.
A number of funds underwent changes to their names and indexes on Monday. Among them were five funds offered by Alpha Architect that ceased to track indexes in favor of active management:
- The Alpha Architect International Quantitative Momentum ETF (IMOM) ceased to track the Alpha Architect International Quantitative Momentum Index.
- The Alpha Architect International Quantitative Value ETF (IVAL) ceased to track the Alpha Architect International Quantitative Value Index.
- The Alpha Architect U.S. Quantitative Momentum ETF(QMOM) ceased to track the Alpha Architect Quantitative Momentum Index.
- The Alpha Architect U.S. Quantitative Value ETF (QVAL) ceased to track the Alpha Architect Quantitative Value Index.
- The Alpha Architect Value Momentum Trend ETF (VMOT) ceased to track the Alpha Architect Value Momentum Trend Index.
At the same time the Franklin Liberty Federal Intermediate Tax-Free Bond Opportunities ETF (FLMI) changed its name to the Franklin Dynamic Municipal Bond ETF, and the Roundhill Ball Metaverse ETF (META) changed its ticker to METV, presumably due to a deal with Meta Platforms, formerly known as Facebook.
Expense Ratio Changes
Additionally, on Monday, five ETFs saw changes to their expense ratios as follows:
- The Merlyn.AI SectorSurfer Momentum ETF (DUDE) decreased its expense ratio from 1.32% to 1.18%.
- The Gadsden Dynamic Multi-Asset ETF (GDMA) increased its expense ratio from 0.77% to 0.87%.
- The UPHOLDINGS Compound Kings ETF (KNGS) increased its expense ratio from 0.60 to 0.97%.
- The Merlyn.AI Tactical Growth and Income ETF (SNUG) increased its expense ratio from 0.88% to 1.06%.
- The Merlyn.AI Bull-Rider Bear-Fighter ETF (WIZ) increased its expense ratio from 1.25% to 1.29%.
Contact Heather Bell at [email protected]