Odds & Ends: JPMorgan Launches New BetaBuilders ETFs

A notably busy week for launches was highlighted by JPMorgan & Co. launching two more exchange-traded funds in its BetaBuilders series of index ETFs: the JPMorgan BetaBuilders Emerging Markets Equity ETF (BBEM), with an expense ratio of 0.15%, and the JPMorgan BetaBuilders U.S. TIPS 0-5 Year ETF (BBIP) for shorter-term TIPS, with an expense ratio of 0.07%.  

An environmental, social and governance-oriented ETF also launched this week: the Veridien Climate Action ETF (CLIA), with an expense ratio of 0.85%, a nontransparent actively managed ETF that invests in companies that “contribute to climate change mitigation.” 

Luxury Good Launches 

Tema launched three actively managed thematic ETFs with themes of luxury goods, industry reshoring, and monopolies and oligopolies, each with an expense ratio of 0.75%, the average expense ratio for actively managed funds is 0.69% 

• RSHO: Tema American Reshoring ETF (RSHO) 
• TOLL: Tema Monopolies and Oligopolies ETF (TOLL) 
• LUX: Tema Luxury ETF (LUX) 

Notable Launches 

Fund giant Pimco launched an actively traded commodity ETF, the PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT), continuing PIMCO’s tradition of actively managed ETFs. It has an expense ratio of 0.64% after fee waivers. 

The Bridges Capital Tactical ETF (BDGS) will attempt to combine passive and active investing by holding a combination of index ETFs and large cap securities; it has an expense ratio of 0.78%. 

ETF titan iShares expanded its muni bond offerings with the iShares iBonds Dec 2029 Term Muni Bond ETF (IBMR), which has an expense ratio of 0.18%. 

YieldMax launched the YieldMax NVDA Option Income Strategy ETF (NVDY), which uses options on Nvidia Corp. to try to generate income. This ETF joins similar single-stock option ETFs from YieldMax: the YieldMax TSLA Option Income Strategy ETF and the YieldMax AAPL Option Income Strategy ETF (APLY). All three have an expense ratio of 0.99%. 

Finally, IndexIQ launched the IQ CBRE Real Assets ETF (IQRA), an actively managed real estate fund with an expense ratio of 0.65% after waivers and reimbursements. 

Closures  

Only one fund closed, the Compound Kings ETF (KNGS), which shuttered today, while UBS announced that it will redeem all securities in its midstream energy ETN, the ETRACS NYSE Pickens Core Midstream Index ETN (PYPE), by June 16 of this year. 

Contact Gabe Alpert at [email protected]