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Direct indexing looks set to disrupt the retail ETF market
February 10, 2021--Industry participants expect bespoke ETF index customisation will become widespread.
So-called "direct indexing" is spreading its wings beyond the very wealthy in the US and threatening to disrupt the rapidly growing global retail market for exchange traded funds.
The nascent concept allows investors to customise existing indices to create bespoke portfolios tailored to meet their personal preferences for investment factors, such as tilts to value or quality, their personal environmental, social and governance (ESG) beliefs, and potentially to minimise tax liabilities.
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Source: FT.com
Roundhill Launches Streaming ETF (NYSE: SUBZ)
February 10, 2021--Roundhill Investments ("Roundhill") has launched the Roundhill Streaming Services & Technology ETF (NYSE ARCA: SUBZ), the first ETF globally designed to invest in companies in the streaming sector.
"Media streaming continues to grow rapidly as more consumers abandon traditional media and subscribe to a select number of streaming services. This transition, accelerated over recent years, has taken place across multiple industries including video, audio, and even gaming," said Roundhill Investments Portfolio Manager Mario Stefanidis.
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Source: Roundhill Investments
UBS launches seven new 2x Leveraged US Factor ETNs
February 10, 2021-UBS Investment Bank today announced the recent listing of seven new 2x Leveraged US Factor ETNs specified in the table below.
ETN Ticker: SCDL
ETN Name: ETRACS 2x Leveraged US Dividend Factor TR ETN
ETN CUSIP: 90278V206
Underlying Index Bloomberg Ticker: DJUSDIVT
ETN Ticker: IWFL
ETN Name: ETRACS 2x Leveraged US Growth Factor TR ETN
ETN CUSIP: 90278V305
Underlying Index Bloomberg Ticker: RU10GRTR
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Source: ubs.com
Fallen angel ETFs face potential fall from grace
February 9, 2021--Investors who bought the Fallen Angel ETF at a low price in 2020 benefited from stellar returns by the end of the year, Potential return to inflation According to some industry insiders, 2021 could have a negative impact on this market.
The number of fallen angels (investment grade bonds downgraded to junk status) surged last year as bonds for companies in the energy, transportation, retail and leisure sectors were downgraded during the coronavirus pandemic. Did. Price to slide. However, while most of these bonds recovered within the year, 2021 could be another issue.
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Source: ft.com
CBO-Monthly Budget Review: January 2021
February 8, 2021--The federal budget deficit was $738 billion in the first four months of fiscal year 2021, the Congressional Budget Office estimates-$348 billion more than the deficit recorded during the same period last year. Outlays were 23 percent higher and revenues were 1 percent higher from October through January than during the same perod in fiscal year 2020.
Outlays during the first four months of fiscal year 2020 were boosted by shifts in the timing of certain payments that otherwise would have been due at the beginning of February 2020, which fell on a weekend. Those shifts increased outlays through January 2020 by $55 billion. If not for those shifts, the deficit this year (through January 2021) would have been more than twice the $335 billion shortfall during the same period in fiscal year 2020. That substantial difference is largely the result of the economic disruption caused by the 2020-2021 coronavirus pandemic and the federal government's response to it.
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Source: CBO (Congressional Budget Office)
Social media sentiment ETF to launch in wake of Reddit rebellion
February 8, 2021--VanEck's decision to license the Buzz index breathes new life into an old idea that failed
The Reddit rebellion might have died down for the moment, but New York asset manager VanEck is betting that there is long term value in listening to social media chat and is launching a social sentiment exchange traded fund.
The fund will invest in the stocks being most talked up on social media and appropriately enough, the company most likely to be sent "to the moon" by the new ETF is Virgin Galactic, Richard Branson's space tourism company, currently the largest stock in the underlying index.
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Source: FT.com
Flow Charts: Where the ETF Money Went in January 2021
February 4, 2021--Despite the S&P 500's decline in January, investors poured new money into higher-beta areas across the board, as the pace of inflows picked up steam compared with December.
Welcome to the 5th issue of Flow Charts, a monthly summary of fund flow data from our ETF universe. As a reminder, we take a slightly different approach than the typical fund flow analysis by stripping out the short interest portion of each ETF to arrive at a "Net Long" figure for dollar flows.
Since authorized participants can create new ETF shares simply to meet demand from short sellers, such "inflow" should not be equated with bullish investors putting new money to work on the long side. (Likewise, "outflows" that reflect the closing out of short positions should not be seen as bearish.)
By netting out these short interest positions, we believe this presents a more accurate picture of where other investors are truly bullish, and where they are bearish. That said, here is what the data revealed for the month of January 2021.
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Source: The FORUM at ETF Research Center
State Street Launches Active Muni-Bond ETF
February 4, 2021--State Street Global Advisors today rolled out the SPDR Nuveen Municipal Bond ETF (MBND), an actively managed product created in partnership with Nuveen Asset Management.
According to the prospectus, the fund will invest mainly in municipal bonds included in the Bloomberg Barclays 3-15 Year Blend (2-17) Municipal Bond Index, which comprises investment-grade municipal securities ranging from two to 17 years in maturity.
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Source: fa-mag.com
Exchanges compete to improve ETF investor experience
February 3, 2021--Fee cuts and other measures have been made to attract and retain listings
The competition among exchanges for ETF business is driving innovations that help make buying and selling shares easier and more attractive to investors, executives say. Cboe's BZX Exchange debuted a programme on Monday that allows ETF market makers to receive better payments from the exchange for providing liquidity on heavily traded products, rather than receiving a flat incentive payment for taking on lead market maker duties.
This payment, which is capped at 0.39 cents per share, is roughly double the standard rebate that the exchange provides for adding liquidity to the exchange, according to exchange documents.view more
Source: FT.com
Tradeweb Markets to acquire Nasdaq fixed income trade platform for $190M
February 2, 2021--Tradeweb Markets (TW), announced that it has entered into a definitive agreement to acquire Nasdaq's (NDAQ) fixed income electronic trading platform. The Nasdaq platform, formerly known as eSpeed is a fully executable central limit order book for electronic trading in on-the-run U.S. Treasuries
Nasdaq's CLOB will become part of Dealerweb, serving the firm's wholesale sector. Tradeweb CEO Lee Olesky. The $190M, all-cash transaction is expected to close later in 2021 subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals. Upon closing the transaction will be accretive to Tradeweb's adjusted earnings. Upon completion of this transaction, Dealerweb clients will have even more flexibility in how they trade OTR U.S. Treasuries, utilizing either the new CLOB or Tradeweb's innovative direct streams protocol.
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Source: thefly.com
