Today Invesco rolled out nine additions to its BulletShares family of target-maturity fixed income ETFs. The funds add a new dimension to the family, covering the municipal bond space, and are as follows:
- Invesco BulletShares 2021 Municipal Bond ETF (BSML)
- Invesco BulletShares 2022 Municipal Bond ETF (BSMM)
- Invesco BulletShares 2023 Municipal Bond ETF (BSMN)
- Invesco BulletShares 2024 Municipal Bond ETF (BSMO)
- Invesco BulletShares 2025 Municipal Bond ETF (BSMP)
- Invesco BulletShares 2026 Municipal Bond ETF (BSMQ)
- Invesco BulletShares 2027 Municipal Bond ETF (BSMR)
- Invesco BulletShares 2028 Municipal Bond ETF (BSMS)
- Invesco BulletShares 2029 Municipal Bond ETF (BSMT)
The funds all list on the Nasdaq and come with an expense ratio of 0.18%.
All of the ETFs invest in investment-grade municipal debt that has a maturity date or effective maturity date in the designated year. The debt must also have at least $15 million in value outstanding and be exempt from federal income tax, according to the prospectus.
The indexes are rebalanced monthly, with bonds that meet the requirements added, and those that do not are removed, up until the final year of maturity, when the constituent list becomes static and the index is no longer rebalanced, the document says.
BlackRock’s iShares unit is Invesco’s only competitor in the target-maturity bond ETF space. The firm’s iBonds family includes 29 funds, with a total of $8.4 billion in assets under management (AUM). That family includes nine ETFs targeting the years 2020 through 2028, all of which charge an expense ratio of 0.18%.
The BulletShares municipal family joins 24 other BulletShares ETFs which cover the high-yield and investment-grade corporate bond spaces. The total assets invested in the family amount to $11.7 billion.
AdvisorShares is set to close its actively managed FAANG-focused fund, the AdvisorShares New Tech and Media ETF (FNG), on Oct. 4. The fund has $11 million in AUM after launching in July 2017. It holds a concentrated portfolio of stocks tied to the technology, media and social media industries, seeking companies engaged in disruptive innovation.
The total number of completed closures for the year so far is 88.
Additional Recent ETF Changes
|Effective Date||Affected Fund||Change|
|9/23/2019||SPDR ACWI IMI ETF (ACIM)||ACIM changed its name to the SPDR Portfolio MSCI Global Stock Market ETF and its ticker to SPGM. The expense ratio was lowered from 0.25% to 0.09%.|
|9/23/2019||SPDR Bloomberg Barclays Corporate Bond ETF (CBND)||CBND changed its name to the SPDR Portfolio Corporate Bond ETF and its ticker to SPBO.|
|9/23/2019||SPDR ICE BofAML Broad High Yield Bond ETF (CJNK)||CJNK changed its name to the SPDR Portfolio High Yield Bond ETF and its ticker to SPHY.|
|9/23/2019||SPDR STOXX Europe 50 ETF (FEU)||FEU has changed its index from the STOXX Europe 50 Index to the STOX Europe Total Market Index. It also changed its name to the SPDR Portfolio Europe ETF and its ticker to SPEU. The expense ratio was cut from 0.29% to 0.09%.|
|9/23/2019||SPDR Bloomberg Barclays TIPS ETF (IPE)||IPE changed its name to the SPDR Fportfolio TIPS ETF and its ticker to SPIP. The expense ratio was cut from 0.15% to 0.12%.|
|9/23/2019||SPDR Bloomberg Barclays Intermediate Term Treasury ETF (ITE)||ITE changed its name to the SPDR Portfolio Intermediate Term Treasury ETF and its ticker to SPTI.|
|9/23/2019||SPDR Portfolio Mortgage Backed Bond ETF (MBG)||MBG changed its name to the SPDR Portfolio Mortgage Backed Bond ETF and its ticker to SPMB.|
|9/23/2019||iShares Global Consumer Discretionary ETF (RXI)||The index for RXI changed from the S&P Global 1200 Consumer Discretionary Index to the S&P Global 1200 Consumer Discretionary (Sector) Capped Index.|
|9/23/2019||United States 3x Short Oil Fund (USOD)||USOD underwent a reverse 1-for-2 reverse split.|
Contact Heather Bell at [email protected]