Americas ETP News
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Purpose Investments Announces It Will Switch from T+2 to T+1 Settlements on May 27, 2024
May 21, 2024--Major Milestone Achieved: Transition to T+1 Settlement in Canadian and U.S. Securities Markets
Purpose Investments Inc. ("Purpose Investments" or "Purpose") is pleased to announce its participation in a significant advancement to the operational framework of the Canadian and U.S. securities markets: the transition from a T+2 to T+1 settlement cycle.
In conjunction with Canadian and U.S. security markets, Purpose will shorten its settlement cycles for several funds to T+1 from T+2, effective May 27, 2024. The decision to transition to T+1 settlements comes as part of Purpose's ongoing efforts to stay on the leading edge of evolving market trends and regulatory requirements. By reducing settlement times by one business day, Purpose aims to streamline operations and ensure a quicker and smoother experience for clients buying and selling stocks.
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Source: Purpose Investments Inc.
Kingsview Wealth Management Expands Servicing Relationship with Ultimus to Assist in Launch of Four New ETFs
May 21, 2024--Ultimus to serve as fund administrator for newly launched series of ETFs
Ultimus Fund Solutions (Ultimus), a leading independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions, is proud to announce that current client Kingsview Wealth Management, LLC ("Kingsview") once more turned to Ultimus to assist in four new ETF launches.
Ultimus first collaborated with Kingsview in March of 2021 to support the launch of the three initial Monarch ETFs. Understanding the need to provide a more expansive product line to investors, Kingsview recently selected Ultimus to assist in launching four additional ETFs, bringing the total number to seven in the fund family.
Ultimus' customizable operational model, experienced team of ETF industry professionals, and established relationships within the ETF ecosystem enabled Kingsview to provide a wider variety of investment strategies to investors.
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Source: Ultimus Fund Solutions
YieldMax Launches Option Income Strategy ETF on the VanEck Gold Miners ETF (GDX)
May 21, 2024--YieldMax announced the launch today of the following ETF:
YieldMax Gold Miners Option Income Strategy ETF (NYSE Arca: GDXY)
GDXY seeks to generate current income via a synthetic covered call strategy on the VanEck Gold Miners ETF (GDX).
UGDXY is actively managed by ZEGA Financial. GDXY does not invest directly in GDX.
GDXY is the newest member of the growing YieldMax ETF family and, like all YieldMax ETFs, aims to deliver current income to investors. Please see table below for distribution and yield information for all outstanding YieldMax ETFs.
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Source: YieldMax
Virtus Introduces Virtus AlphaSimplex Managed Futures ETF
May 17, 2024--ASMF leverages AlphaSimplex's expertise in systematic alternative investment strategies
Virtus Investment Partners, Inc. (NYSE: VRTS) has expanded its offerings of distinctive, actively managed exchange-traded funds with the introduction of the Virtus AlphaSimplex Managed Futures ETF (NYSE: ASMF), the first ETF strategy managed by AlphaSimplex Group, LLC.
The Virtus AlphaSimplex Managed Futures ETF utilizes AlphaSimplex's proprietary research and dynamic risk management systems to analyze market behavior and adapt to changing market dynamics. The firm's risk models are designed to detect changes in portfolio risk and adjust to varying levels of market volatility, allowing for daily monitoring and management of portfolio positions.
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Source: Virtus Investment Partners, Inc.
Peerless Wealth Launches Option Wheel Strategy ETF
May 17, 2024--On Thursday, Peerless Wealth rolled out the Peerless Option Income Wheel ETF (WEEL).
The fund is actively managed and seeks to provide investors with current income. It launched has a net expense ratio of 1.07%.
To achieve income goals, Peerless Wealth applies a two-pronged strategy.
Firstly, the prospectus noted that the fund invests in a series of sector-specific ETFs. WEEL may also invest in some individual securities.
In selecting sectors to allocate securities to, the fund managers use the Global Industry Classification Standard (GICS) as a guidepost.
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Source: finance.yahoo.com
ESG Fund Liquidations Rip Through America's ETF Market
May 15, 2024-At least 27 funds have shut so far this year: BI research
And just two new ETFs were launched in the same period
The US market for ESG-focused exchange-traded funds is floundering.
At least 27 ETFs categorized as being aligned with environmental, social and governance principles have been liquidated so far this year, said Shaheen Contractor, senior ESG analyst at Bloomberg Intelligence.
That compares with 36 during all of last year.
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Source: bloomberg.com
Direxion Launches Two ETFs Tracking the Solactive US AI & Big Data Index
May 15, 2024--The artificial intelligence market is poised for continued growth, with the global AI market projected to reach US$106.50 billion in 2024 and increase to US$237.10 billion by 2030.
The United States is expected to represent the largest market size at US$106.50 billion in 2024.1 Amid this booming AI landscape Solactive and Direxion have partnered to launch two new ETFs.
The Direxion Daily AI and Big Data Bull 2X Shares (AIBU) and Direxion Daily AI and Big Data Bear 2X Shares (AIBD) will follow the performance of the Solactive US AI & Big Data Index. The index is designed to provide targeted exposure to companies at the forefront of driving innovation within the artificial intelligence and big data industries.
The Solactive US AI & Big Data Index tracks the performance of 30 US-listed companies with significant business operations in AI applications and big data technologies. By leveraging Solactive’s proprietary natural language processing system ARTIS to screen public information such as company reports and financial news, key companies are identified according to their exposure to AI applications, big data analytics, natural language processing as well as AI-driven services.
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Source: Solactive AG
Defiance Launches USOY, The First Oil Enhanced Options Income ETF
May 10, 2024--Defiance ETFs is proud to announce the launch of USOY, the Defiance Oil Enhanced Options Income ETF. USOY marks a significant milestone as the first-ever Oil Income Options Overlay ETF, offering investors a unique opportunity to seek income in the oil sector through options trading.
We are thrilled to introduce USOY, the first-of-its-kind Oil Income Options Overlay ETF," said Sylvia Jablonski, CEO of Defiance ETFs. "With USOY, investors can access enhanced income potential in the oil market while maintaining exposure to USO's share price movements. Considering the ongoing instability in the Middle East, Defiance believes there's significant potential for oil prices to rally in 2024.
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Source: Defiance ETFs
CBO-Monthly Budget Review: April 2024
May 8, 2024--Summary
The federal budget deficit was $857 billion in the first seven months of fiscal year 2024, the Congressional Budget Office estimates-$68 billion less than the deficit recorded during the same period last fiscal year. Revenues were $278 billion (or 10 percent) higher and outlays were $210 billion (or 6 percent) higher from October through April than during the same period in fiscal year 2023.
Shifts in the timing of certain payments affect that comparison. Outlays in the first seven months of each fiscal year were reduced by shifts of some payments to September that otherwise would have been due on October 1, which fell on a weekend in both years. If not for that, the deficit so far in fiscal year 2024 would have been $929 billion-$59 billion less than the shortfall for the same period in fiscal year 2023.
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Source: CBO (Congressional Budget Office)
Global X Expands Its Income Product Lineup with Launch of New Covered Call ETFs
May 8, 2024--Global X ETFs, the New York-based provider of exchange-traded funds (ETFs), today launched the Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) and the Global X S&P 500 Quality Dividend Covered Call ETF (QDCC). The funds are Global X's latest additions to its covered call suite, which offers investors ETF strategies that look beyond traditional fixed income to potentially increase or diversify a portfolio's yield.
Covered call strategies can play an important role in a portfolio, offering a diversified source of income while helping to potentially mitigate downside risk. While covered call strategies once required investors to trade options themselves, the availability of covered call ETFs can help investors more easily and efficiently integrate these strategies.
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Source: Global X Management Company LLC
