ETF Odds & Ends: Additional Launches

The week was characterized mainly by the rollouts of new funds.

Most of the ETF activity this past week centered around launches, of which there were a dozen.

Among the new products making their debuts were two new MicroSectors ETNs. The MicroSectors Oil & Gas Exploration & Production -3X Inverse Leveraged ETN (OILD) and the MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) rolled out on Tuesday, Nov. 9.

The ETNs each come with an expense ratio of 0.95% and list on the NYSE Arca. They offer triple leveraged and inverse exposure to the Solactive MicroSectors Oil & Gas Exploration & Production Index.

The same day, Hartford Funds debuted the Hartford Large Cap Growth ETF (HFGO) on Cboe Global Markets with an expense ratio of 0.59%. The fund is an actively managed nontransparent ETF that is subadvised by Wellington Management. HFGO invests primarily in large cap stocks that are expected to experience significant growth, selecting them through a bottom-up evaluation process.

6 Meridian ETFs Rebranded
6 Meridian’s family of five ETFs that are issued by Exchange Traded Concepts now reflects its issuer’s brand in its name. As of Friday, Nov. 12, the funds now include “ETC” at the start of their names. The affected ETFs under their new names are as follows:

• ETC 6 Meridian Mega Cap Equity ETF (SIXA)
• ETC 6 Meridian Hedged Equity Index Option Strategy ETF (SIXH)
• ETC 6 Meridian Low Beta Equity Strategy ETF (SIXL)
• ETC 6 Meridian Small Cap Equity ETF (SIXS)
• ETC 6 Meridian Quality Growth ETF (SXQG)

Contact Heather Bell at [email protected]