This week was a fairly quiet one, with only three launches; however, they were definitely unique products. UBS also suspended creations on a fairly sizable leveraged ETF.
Below is a roundup of the key events in the ETF space during the week of Oct. 15:
VanEck Launches eSports ETF
VanEck rolled out a unique fund earlier this week. The VanEck Vectors Video Gaming and eSports ETF (ESPO) tracks an index of 25 securities. The new fund comes with an expense ratio of 0.55%, and lists on the NYSE Arca. ESPO is the first ETF to specifically target the eSports space (read: First eSports ETF Debuts).
Prudential Debuts Low-Cost Active Fund
On Thursday, Prudential’s PGIM arm took aim at the actively managed ETF area. The PGIM QMA Strategic Alpha Large-Cap Core ETF (PQLC) will seek to outperform the S&P 500 Index on a long-term basis using a multifactor methodology, and comes with a low cost of just 0.17%, which undercuts almost every active U.S. ETF (read: Active Large Cap ETF Debuts).
JP Morgan Unveils Ultra-Short Muni ETF
J.P. Morgan launched an actively managed ultra-short municipal bond ETF this week. The JPMorgan Ultra-Short Municipal ETF (JMST) is the first ultra-short muni ETF, and it will invest in municipal securities with an average weighted maturity of no more than two years. JMST comes with an expense ratio of 0.18% and lists on Cboe Global Markets, the parent company of ETF.com (read: JP Morgan Rolls Out Muni ETF).
UBS Suspends Leveraged ETN’s Creations
Last week, UBS indefinitely suspended creations on an ETRACS ETN with nearly $60 million in assets under management. The ETRACS Monthly Pay 2xLeveraged US Small Cap High Dividend ETN (SMHD) is tied to the Solactive US Small Cap High Dividend Index and provides twice the monthly return of its benchmark, while charging a hefty expense ratio of 1.65% (read: Leveraged ETN Suspends Creations).
Contact Heather Bell at [email protected]