Calamos: First ETF Will Be Active Growth

September 16, 2013

Calamos ETF Trust wants to bring an active equity ETF that plays on growth up to bat as its first ETF offering.

Calamos ETF Trust, a Naperville, Ill. money manager new to the ETF game, filed a prospectus that would bring its first exchange-traded fund onto market to compete within a small-niche corner of the ETF universe: actively managed equity funds focused on growth.

The Calamos Select Growth ETF will seek to provide similar returns on investment as an actively managed basket comprising primarily U.S. equities. The issuer noted in the prospectus that the active strategy of the adviser allots up to 25 percent of the portfolio to foreign securities as well.

Three funds currently trade within that sphere. The largest and closest competitor is the Columbia Select Large Cap Growth ETF (RWG | C-54), a four-year-old ETF with $9.7 million in assets, according to data collected by IndexUniverse. RWG is similarly focused on U.S. equities, with foreign ADRs at times incorporated into its portfolio.

The proposed Calamos fund will use a “top-down” research-based approach to select stocks, employing the firm’s macroeconomic views to focus on individual securities for the portfolio.

RWG holds almost $10 million in assets and has risen since its inception in October 2009. It comes with a relatively high expense ratio of 86 basis points, or $86 for each $10,000 invested.

The Calamos prospectus did not include details of ticker or expense ratio, nor did it mention on which exchange the Calamos fund would have its primary listing.



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