It was a fairly quiet week for the U.S. ETF industry, largely because of the Fourth of July holiday that fell in the middle of the week. Launches and closures were muted, as were filings for new funds.
However, July 3, the first trading day of the month, saw the launch of four “Premium Income Barrier” ETFs from Innovator. The four funds offer exposure to the performance of the S&P 500 price index and the performance of U.S. Treasuries and also protect against losses of 10%, 20%, 30% and 40%, respectively. Innovator launched a similar family of funds resetting in April earlier this year, while these funds reset annually at the start of July.
The new products are as follows:
Each has an expense ratio of 0.79% and lists on Cboe Global Markets.
The only other ETF to launch during the week was the (MUSQ ) which rolled out on Friday. MUSQ invests in companies involved with the recording, performance and distribution of music as well as companies that provide technology and equipment to the music industry.
The strong trend of closures also continued during the week, with the completed closures of the Emerge EMPWR family of ETFs on Friday and the (BIDS ) on Thursday.
The Emerge EMPWR ETFs include the following:
There were a number of interesting filings during the week, though the ones from Cambria ETFs and VanEck Global stood out.
Cambria is planning to launch a list of thematic funds targeting different strategies and segments of the market. The eight proposed funds are as follows:
- Cambria Managed Futures Strategy ETF (MFUT)
- Cambria Superinvestors ETF (SUPR)
- Cambria Trend Following ETF (IVY)
- Cambria Domestic Tax Optimized ETF (DTAX)
- Cambria Foreign Tax Optimized ETF (FTAX)
- Cambria Long Short ETF (CALS)
- Cambria Buyout ETF (LBO)
- Cambria Venture ETF (VCAP)
And Van Eck has filed for the VanEck Office and Commercial REIT ETF, which will track an index targeting REITs that generate at least half of their revenue from business activities related to office industrial, or retail real estate, according to the prospectus.
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