Odds & Ends: Active ETFs in the Spotlight

Investor dollars have been flooding into actively traded ETFs, and fund companies are tailoring their launches accordingly.  

According to Bloomberg, active ETFs make up 30% of total ETF inflows this year, despite comprising only 6% of total ETF assets under management. Since the beginning of 2022, roughly two-thirds of all new ETF launches have been active ETFs. 

This week was no different, as traditional mutual fund giant T. Rowe Price launched five actively traded ETFs. The funds are a departure from the firm’s previous launches, which were semitransparent active ETFs based on existing mutual funds. The new funds are transparent and based on new strategies made specifically to be implemented with ETFs.  

In terms of performance, the most recent SPIVA U.S. scorecard from 2022 shows that the overwhelming majority of active funds fail to beat their benchmarks.  

Launches 

Monday:  

• Fidelity Disruptive Automation ETF (FBOT)
• Fidelity Disruptive Communications ETF (FDCF)
• Fidelity Disruptive Finance ETF (FDFF)
• Fidelity Disruptive Technology ETF (FDTX)
• Fidelity Disruptive Medicine ETF (FMED)

Tuesday:  

• Defiance Pure Electric Vehicle ETF (EVXX)
• Private Real Estate Strategy via Liquid REITs ETF (PRVT)

Wednesday:  

• Aptus Large Cap Enhanced Yield ETF (DUBS)
• Simplify Market Neutral Equity Long/Short ETF (EQLS)v

Thursday:  

• Rowe Price Capital Appreciation Equity ETF (TCAF)
• Rowe Price Growth ETF (TGRT)
• Rowe Price Small-Mid Cap ETF (TMSL)
• Rowe Price International Equity ETF (TOUS)
• Rowe Price Value ETF (TVAL)

Existing Fund Changes 

Monday: 

The AdvisorShares Dorsey Wright Micro-Cap ETF (DWMC) changed its name to the AdvisorShares Dorsey Wright Small Company ETF 

Thursday: 

• Hartford Schroders Commodity Strategy ETF (HCOM): expense ratio decreased from 0.89% to 0.59%
• Relative Sentiment Tactical Allocation ETF (MOOD): expense ratio decreased from 0.71% to 0.68%

Closures 

Monday:  

• LifeGoal Home Down Payment Investment ETF (HOM)
• LifeGoal Conservative Wealth Builder ETF (SAVN)
• LifeGoal Wealth Builder ETF (WLTH)

Thursday:  

• UBS AG FI Enhanced Europe 50 ETN (FIEE)
• UBS AG FI Enhanced Global High Yield ETN (FIHD)
• ETRACS NYSE Pickens Core Midstream Index ETN (PYPE)

Friday: 

• AXS 2X NKE Bull Daily ETF (NKEL)
• AXS 2X NKE Bear Daily ETF (NKEQ)
• AXS 2X PFE Bull Daily ETF (PFEL)
• AXS 2X PFE Bear Daily ETF (PFES)
• AXS 1.5X PYPL Bear Daily ETF (PYPS)
• AXS Short De-SPAC Daily ETF (SOGU)
• AXS Short China Internet ETF (SWEB)
• GraniteShares 1x Short TSLA Daily ETF (TSLI)

Contact Gabe Alpert at [email protected]