Odds & Ends: BlackRock Launches Its First Buffer ETFs

BlackRock Inc. launched its first-ever buffer exchange-traded fund today, hoping to attract investors worried about market downturns.  

Before these launches, there were 118 defined outcome ETFs, another term for buffer ETFs, with $24.6 billion in total assets. Currently the largest is the FT Cboe Vest Fund of Buffer ETF (BUFR) with $1.35 billion in assets.  

Buffer ETFs use derivatives to capture a certain percentage of market gains, meaning that gains are capped after a certain percent, while also absorbing a certain percentage of market losses 

ETF Launches 

Tuesday: 

• 2x Bitcoin Strategy ETF (BITX) 
• Simplify Opportunistic Income ETF (CRDT) 
• Dimensional California Municipal Bond ETF (DFCA) 

Wednesday: 

• MAX Auto Industry -3x Inverse Leveraged ETN (CARD) 
• MAX Auto Industry 3x Leveraged ETN (CARU) 

Thursday:  

• Avantis All Equity Markets Value ETF (AVGV) 
• Avantis Moderate Allocation ETF (AVMA) 
• Avantis All International Markets Equity ETF (AVNM) 
• Avantis All International Markets Value ETF (AVNV) 
• iShares iBonds Dec 2033 Term Treasury ETF (IBTO) 
• Natixis Loomis Sayles Focused Growth ETF (LSGR) 

Friday:  

• iMGP Berkshire Dividend Growth ETF (BDVG) 
• iShares Large Cap Deep Buffer ETF (IVVB) 
• iShares Large Cap Moderate Buffer ETF (IVVM) 

 
ETF Closures 

Monday: Constrained Capital ESG Orphans ETF (ORFN) 

Wednesday: Senior Secured Credit Opportunities ETF (SECD) 

ETF Changes 

Monday: 

The following ETFs will undergo 2 for 1 splits. The splits will apply to shareholders of record as market close on Aug. 7, 2023, payable after markets close on Aug. 9, 2023. The ETFs will begin trading at their post-split price on Aug. 10, 2023. 

• WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) 
• WisdomTree Japan Hedged SmallCap Equity Fund (DXJS) 
• WisdomTree Europe Hedged Equity Fund (HEDJ) 

The FolioBeyond Rising Rates ETF (RISR) changed its name to the FolioBeyond Alternative Income Interest Rate Hedge ETF. 

The Invesco 1-30 Laddered Treasury ETF (PLW) changed its expense ratio from 0.25% to 0.15% 

Tuesday:  

The FIS Biblically Responsible Risk Managed ETF (PRAY) changed its name to the FIS Christian Stock Fund. 

Wednesday: 

The following ETFs changed their expense ratios: 

• Monarch Ambassador Income ETF (MAMB) from 1.56% to 1.49% 
• Monarch ProCap ETF (MPRO) from 1.35% to 1.17% 
• Invesco Total Return Bond ETF (GTO) from 0.50% to 0.25% 

Friday:  

The following ETFs changed their names: 

• Nuveen Enhanced Yield 1-5 Year U.S. Aggregate Bond ETF (NUSA) changed to the Nuveen ESG 1-5 Year U.S. Aggregate Bond ETF 
• Principal U.S. Small-Cap Multi-Factor ETF (PSC) changed to the Principal U.S. Small-Cap ETF   

The following ETFs changed their expense ratios: 

• iShares iBoxx USD High Yield Corporate Bond ETF (HYG) from 0.48% to 0.49% 
• iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB) from 0.06% to 0.04% 
• U.S. Diversified Real Estate ETF (PPTY) from 0.49% to 0.53% 
• iShares 0-3 Month Treasury Bond ETF (SGOV) from 0.05% to 0.07% 

Contact Gabe Alpert at [email protected]