ETF Database » PMA

Complete List Of Active ETFs

Michael Johnston — Sun, 05 Jun 2011 11:00:14 +0000

Since PowerShares debuted its first active ETFs in the spring of 2008, this corner of the exchange-traded product market has grown tremendously. Though many active ETFs have been somewhat slow to accumulate assets, the increase in the size of the lineup highlights the trend towards vehicles that combine active management with the exchange-traded structure. There are now dozens of actively-managed ETFs offering exposure to a number of asset classes, including stocks, bonds, and currencies. The following tables present all of the active ETFs currently available to U.S. investors, including expense information, inception date, and the applicable benchmark. New active ETFs are added as they are launched, providing a real time list of active ETFs [filter by active / passive and other fields with the free ETF Screener]. Equity ETFs There are a number of different active equity ETFs, including funds that offer exposure to both domestic and international equity markets. [...]

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iShares Gets Active ETF Approval

Michael Johnston — Sun, 27 Mar 2011 14:00:53 +0000

iShares, the largest issuer of U.S. ETFs that was acquired last year by BlackRock, has received SEC approval to introduce actively-managed ETFs. iShares currently offers more than 200 passively-indexes ETFs, and the recent SEC decision opens the door for the company to introduce exchange-traded products not linked to a specific benchmark. iShares ETFs had aggregate assets of about $460 billion at the end of February, representing about 43% of the U.S. market. iShares had previously indicated that any active ETFs launched would be transparent, meaning that the holdings would be disclosed on a daily basis. The frequent disclosure of underlying holdings has been widely cited as a reason for the slow growth of ETFs, as those requirement could potentially lead to “front-running” issues that would erode returns. In a November 2010 filing, iShares highlighted two potential active ETFs, thought details on specific strategies or holdings were limited: iShares Active Fixed [...]

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Handicapping The Active ETF Race

Michael Johnston — Thu, 18 Mar 2010 16:01:23 +0000

To say opinions on the future of active ETFs are mixed would be a major understatement. Nearly two years after PowerShares launched its first line of active ETFs and a year after the much-publicized launch of the Grail American Beacon Large Cap Value ETF (GVT), active ETFs remain stuck in first gear. Investors have expressed excitement over the development of an investment option combining active management with the benefits of the exchange-traded structure, but have so far been hesitant to put their money where their mouth is. Some analysts doubt that active management will ever really catch on, citing a number of hurdles that may be difficult to overcome. Others think that a surge in activity in the space is inevitable, eagerly anticipating a number of potential “gamechangers” that could accelerate growth. Despite the slow start, active ETFs have gained some momentum in recent months, and there’s reason to believe [...]

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An Active ETF Gets Its Wings

Michael Johnston — Tue, 16 Mar 2010 07:00:28 +0000

The monthly data release of ETF trading data from the National Stock Exchange always provides a comprehensive industry snapshot, detailing fund flows, asset levels, and the latest update on an increasingly-competitive battle for market share. There is no shortage of number-crunching following each release, but most of the analysis focuses on high level industry trends, such as month-over-month growth, cash inflows, and success of recent high-profile launches. A look beyond the handful of mega-tickers that account for the majority of assets often reveals some interesting trends. Buried in the February release (in line number 699 to be exact) were some interesting stats that may signal an exciting new era for actively-managed ETFs. One of the handful of active ETFs available to U.S. investors saw assets surge last month, and has been enjoying a jump in trading volumes ever since. The PowerShares Active AlphaQ Fund (PQY) saw cash inflows of $14 [...]

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T. Rowe Price Plans Actively-Managed ETFs

Michael Johnston — Fri, 11 Dec 2009 07:00:53 +0000

T. Rowe Price has filed with the Securities and Exchange Commission for approval to launch a line of actively-managed ETFs. In its filing for exemptive relief with the SEC, T. Rowe indicated that its initial fund would invest primarily in domestic fixed income securities, but that it could eventually launch domestic and international equity ETFs, as well global fixed income funds. T. Rowe Price is the latest in a now long line of mutual fund giants to jump over to the ETF industry. Vanguard was one of the earliest entrants into the space, and has become one of the most successful ETF issuers. The firm founded by Jack Bogle saw cash inflows of almost $5.5 billion in November, the most of any ETF issuer for the month. PIMCO and Charles Schwab have also made successful transitions into the ETF space: PIMCO now has nine fixed income ETFs (including two actively-managed [...]

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iShares To Launch Russell Top 200 ETFs

Michael Johnston — Fri, 10 Jul 2009 15:54:00 +0000

In the weeks since its sale to BlackRock was announced, the team at iShares has been busy expanding its reach, launching the first Peru-specific ETF as well as the S&P Emerging Markets Infrastructure ETF (EMIF). And the Goliath of the ETF space is showing no signs of slowing down any time soon, recently filing for approval on three new funds that would track Russell Top 200 Indexes. iShares filed for a new ETF to track the Russell Top 200 Index, which includes the largest 200 companies (by market capitalization) of the broader Russell 3000 Index. In addition, prospectuses for funds tracking the Russell Top 200 Growth Index and Russell Top 200 Value Index were released. The Russell Top 200 Index represents approximately 65% of the market capitalization of listed U.S. equities, and is a popular benchmark for large cap funds. The growth index includes approximately 74% of the Russell Top 200, [...]

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Active ETFs: Full Steam Ahead

Michael Johnston — Thu, 09 Jul 2009 15:20:03 +0000

Although ETFs and mutual funds seem in many ways to be natural rivals, one of the most closely-watched trends in the “active vs. passive” debate has been the development of a hybrid type of investment option: actively-managed ETFs. While the space has mostly taken “baby steps” to this point, it appears to be poised for explosive growth in the coming months. Pioneering PowerShares Bear Stearns actually launched the first actively-managed ETF in March 2008, but the issuance was overshadowed by the brokerage house’s impending demise, and the fund (YYY) shut down less than six months later. Invesco PowerShares is the true pioneer of the actively-managed ETF space, launching four ETFs (PQY, PQZ, PMA, and PLK) in April 2008. Based on proprietary quantitative methodologies, these ETFs were the first to deviate from a predetermined, static index. Originally, the four PowerShares ETFs imposed limitations on the timing and frequency of trading, although such restrictions have since been [...]

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“Active” ETF Report Card: A Mixed Bag

Michael Johnston — Wed, 03 Jun 2009 13:22:41 +0000

Over the last several months, a number of actively-managed ETFs have been launched. These investment vehicles are essentially a hybrid of traditional mutual funds and ETFs, providing many of the benefits that have boosted the ETF industry (lower fees, greater transparency and flexibility, etc.), while implementing an active trading strategy in an attempt to outperform a market benchmark. While truly actively-managed ETFs (i.e., funds that permit managers discretion in trading) are a relatively new innovation, actively-managed ETFs have technically been around for some time, pioneered by PowerShares, which launched several funds in 2008. Not Quite Active, Not Quite Passive PowerShares’ actively-managed ETFs are unlike traditional ETFs in that they do not attempt to track any type of benchmark. Rather, the composition of these funds is generally determined by a two-step process: Eligible stocks are determined by certain quantitative requirements, such as size (e.g., stocks with a market capitalization of more than [...]

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Actively-Managed ETFs: A Gamechanger?

Michael Johnston — Tue, 05 May 2009 17:44:21 +0000

Had Jerry Seinfeld pursued a career in finance, I imagine he’d be having a field day around the water cooler with the launch of the Grail American Beacon Large Cap Value ETF (GVT) yesterday: “What’s the deal with actively managed ETFs…isn’t the whole point of an ETF that is isn’t actively managed?” Since one of the primary benefits of ETFs is the reduced cost structure that they are able to offer as a result of lower asset turnover and overhead, an actively-managed ETF would appear initially to contradict itself. In reality, however, actively-managed ETFs may offer many of the same benefits as indexed ETFs while also allowing investors to attempt to beat the market. The History of Actively-Managed ETFs and the Disclosure Dilemma Bear Stearns Current Yield (YYY) was the first actively-managed ETF to be listed in May 2008. Shortly thereafter, ProShares introduced four actively managed funds (PQY, PQZ, PMA, and [...]

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ETF Database » PMA

Complete List Of Active ETFs

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iShares Gets Active ETF Approval

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Handicapping The Active ETF Race

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An Active ETF Gets Its Wings

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T. Rowe Price Plans Actively-Managed ETFs

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Active ETFs: Full Steam Ahead

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“Active” ETF Report Card: A Mixed Bag

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