ETF Watch: Virtus Rolls Out Dynamic Credit ETF

December 06, 2016

Today Virtus launched an active fixed-income ETF managed by Newfleet Asset Management. The Virtus Newfleet Dynamic Credit ETF (BLHY) comes with an expense ratio of 0.68% and is listed on the NYSE Arca exchange.

According to the prospectus, the fund defines “credit investments” as including sovereign and corporate debt, loans, securitized instruments, interest rate futures, and other ETFs that invest in the previously listed vehicles.

The fund has no restrictions on the credit quality of its investments, including high-yield instruments, nor does it have any restrictions with regard to maturity. However, it does target a duration that is roughly in line with the duration of the Barclays U.S. High-Yield 2% Issuer Capped Bond Index.

Although the fund is primarily domestic, it can invest in foreign securities from any country.

The fund’s manager takes into account macroeconomic trends and attempts to target companies that can be described as “well-valued” and are likely to see improvements in their business profiles, the prospectus said. 

PowerShares Moves Funds To Nasdaq

As of Wednesday, Dec. 7, Invesco PowerShares will delist 27 of its ETFs from the NYSE Arca exchange and relist them on the Nasdaq stock exchange. Most, if not all, of the affected funds track indexes that are owned by Nasdaq or one of its subsidiaries, like Dorsey, Wright & Associates, or Keefe, Bruyette & Woods.

The list of funds is as follows:

Contact Heather Bell at [email protected].

 

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