ETF Watch: Virtus Rolls Out Dynamic Credit ETF

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:

• PowerShares DWA NASDAQ Momentum Portfolio (DWAQ)
• PowerShares DWA SmallCap Momentum Portfolio (DWAS)
• PowerShares KBW Bank Portfolio (KBWB)
• PowerShares KBW High Dividend Yield Financial Portfolio (KBWD)
• PowerShares KBW Property & Casualty Insurance Portfolio (KBWP)
• PowerShares KBW Regional Banking Portfolio (KBWR)
• PowerShares KBW Premium Yield Equity REIT Portfolio (KBWY)
• PowerShares DWA Momentum Portfolio (PDP)
• PowerShares High Yield Equity Dividend Achievers Portfolio (PEY)
• PowerShares DWA Consumer Cyclicals Momentum Portfolio (PEZ)
• PowerShares DWA Financial Momentum Portfolio (PFI)
• PowerShares Dividend Achievers Portfolio (PFM)
• PowerShares Golden Dragon China Portfolio (PGJ)
• PowerShares Water Resources Portfolio (PHO)
• PowerShares International Dividend Achievers Portfolio (PID)
• PowerShares DWA Emerging Markets Momentum Portfolio (PIE)
• PowerShares Global Water Portfolio (PIO)
• PowerShares DWA Developed Markets Momentum Portfolio (PIZ)
• PowerShares BuyBack Achievers Portfolio (PKW)
• PowerShares 1-30 Laddered Treasury Portfolio (PLW)
• PowerShares DWA Industrials Momentum Portfolio (PRN)
• PowerShares DWA Consumer Staples Momentum Portfolio (PSL)
• PowerShares DWA Technology Momentum Portfolio (PTF)
• PowerShares DWA Healthcare Momentum Portfolio (PTH)
• PowerShares DWA Utilities Momentum Portfolio (PUI)
• PowerShares DWA Energy Momentum Portfolio (PXI)
• PowerShares DWA Basic Materials Momentum Portfolio (PYZ)

Contact Heather Bell at [email protected].