Americas ETP News
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Northern Trust Makes Fee Reductions to Select FlexShares ETFs
October 25, 2017--Expense reductions consistent with investor-centric focus
Northern Trust today announced a reduction in the maximum annual management fee on certain FlexShares(R) Exchange Traded Funds, reflecting a continued strategy that focuses on serving the needs of investors and their advisors.
"Our pricing strategy is consistent with our investor-centric value proposition," said Shundrawn Thomas, head of Northern Trust’s Funds and Managed Accounts Group.
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Source: FlexShares
The OFR Introduces its Financial System Vulnerabilities Monitor and Financial Stress Index
October 25, 2017--The Dodd-Frank Act directs the OFR to monitor risks to the nation's financial stability and develop tools for risk measurement and monitoring. To help fulfill that mandate, the OFR has developed two new tools: the Financial System Vulnerabilities Monitor (FSVM) and the Financial Stress Index (FSI).
The FSVM improves upon and replaces the OFR's Financial Stability Monitor, which combined signals of vulnerabilities and stress. The FSVM focuses only on vulnerabilities for clearer and earlier signals of potential risks, while the FSI focuses on monitoring stress. The FSVM will be released quarterly rather than semiannually. The FSI will be updated daily.
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Source: OFR (Office of Financial Research)
Solactive launches Emerging Markets Consumer Technology Index used as the underlying index for KraneShares ETF (KEMQ)
October 25, 2017--Solactive is excited to announce the release of the Solactive Emerging Markets Consumer Technology Index used as the reference index for the KraneShares Emerging Markets Consumer Technology Index ETF (Ticker KEMQ) trading on the NYSE Arca.
The Index selects companies from 26 eligible countries within emerging markets whose primary business is internet retail, payment processing, software for internet and E-Commerce transactions, among others.
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Source: Solactive AG
Evolve Global Healthcare Enhanced Yield ETF (TSX:LIFE) to Begin Trading on TSX
October 25, 2017--Evolve Funds Group Inc. ("Evolve ETFs") is pleased to announce the launch of a new global healthcare ETF (the "ETF") with a covered call strategy in Canada:
Evolve Global Healthcare Enhanced Yield ETF ("LIFE")
LIFE has closed its initial offering of hedged and unhedged units and will begin trading on the Toronto Stock Exchange ("TSX") today under the following ticker symbols:...
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Source: Evolve Funds Group Inc
Investors to pour record $400bn into US equities ETFs next year-Goldman
October 25, 2017--The shift by investors into exchange traded funds is poised to pick up pace next year, with flows into US stock ETFs forecast by Goldman Sachs to jump by a third to $400bn.
In a report released on Wednesday, the New York investment bank said it expects net flows into ETFs next year will reach a record high.
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Source: FT.com
RealityShares-Quarterly ETF commentary-Q3 2017 performance review
October 24, 2017--Lead
Seeks to invest in dividend growth companies1
The DIVCON Leaders Dividend ETF (ticker: LEAD) third-quarter returns reached 3.59% at the end of September.
This performance was in line with the S&P 500 at 4.48% and the Reality Shares DIVCON Leaders Dividend Index at 3.69%. Nvidia (NVDA), the ETF's largest holding, advanced nearly 24% during the 3-month period, contributing 0.69% to the ETF's performance.
Additionally, the LEAD ETF had no exposure to the Energy, Telecommunications, Utilities, and Real Estate sectors during Q3. LEAD had many highlights during the quarter, including:
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Source: realityshares.com
Knowledge Leaders ETF Surpasses $100 Million in Assets
October 24, 2017--Continues Record of Outperformance Since Inception
Knowledge Leaders Capital today announced the Knowledge Leaders Developed World ETF (NYSE: KLDW) has surpassed $100 million in assets under management.
The ETF is designed to capture the Knowledge Effect1, the tendency of highly innovative companies to generate excess returns in the stock market.
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Source: Knowledge Leaders Capital
DB Markets Research-North America Synthetic Equity & Index Strategy-US ETF Compass-Inflows to Equity ETPs Led in September
October 24, 2017--DM equities rallied, while EM equities and fixed income lagged in September
Asset returns were mostly positive for Equities and slightly negative for Fixed
Income and Commodities. Global equities were up by 1.88% during last month,
mainly driven by US and Intl DM equities with returns of 2.44% and 2.36%,
respectively; meanwhile, EM equities registered a weak performance (-0.04%).
DM equities rallied, while EM equities and fixed income lagged in September
Asset returns were mostly positive for Equities and slightly negative for Fixed
Income and Commodities. Global equities were up by 1.88% during last month,
mainly driven by US and Intl DM equities with returns of 2.44% and 2.36%,
respectively; meanwhile, EM equities registered a weak performance (-0.04%).
Fixed income (-0.57%) was mostly negative; however, HY Corporates (+0.60%)
and Senior Loans (+0.39%), and Corp. Floater (+0.23%) were the best performers
posting gains; while, Intl DM Debt (-1.87%) and US Treasury (-0.88%) exposures
were among the weak areas during September. Commodities registered gains of
1.99%, driven by Energy (+4.56%) and Agriculture (+1.82%).
US ETP assets rise 2.5% driven by inflows of $36bn in September
September inflows were led by Equity, followed by Fixed Income and Commodity
ETPs, with the remaining asset classes receiving mixed weak flows. ETPs
registered $36.0bn in new cash, helping assets rise by 2.5% from one month
earlier, reaching a total of $3.15 trillion at the end of September. Equity, Fixed
Income and Commodity ETPs attracted inflows of $22.7bn, $11.3bn, and $2.0bn,
respectively.
Management fees continue to drop as issuers compete for market share
Competition continues to drive ETF management fees lower as issuers compete
for market share. Within equity ETFs, this has been particularly true for
international exposures where the premium issuers can charge for market access
is eroding. For US-only exposure, investors have been willing to pay a premium
in 2017 for exposure to alternative benchmarks (eg. QQQ) and industry-focused
products. ETF providers announce more fee cuts, and consolidation across the
industry continues.
How Active Is Passive?... Less so now for US Equity ETFs
Despite significant growth in smart beta and sector ETFs, aggregate AUM
allocated by these products to S&P 500 stocks has become less active. We use the
concept of "active share" to measure the percentage of the portfolio that deviates
from the benchmark. For S&P 500 stocks, the active share of the ETF portfolio
dropped from 9.5% post-Brexit to 7.8% at the end of September, suggesting that
inflows to benchmark-tracking dominated. The last time active share of the ETF
portfolio was this low was at the equity market low in 2009.
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Source: Deutsche Bank Markets Research-North America-United States-Synthetic Equity & Index Strategy
Record flows for exchange traded funds that track bond markets
October 24, 2017--Fixed-income funds boom led by BlackRock's investment grade corporate bond vehicle.
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Source: FT.com
K&L Gates-FINRA Capital Acquisition Brokers Now Subject to Pay-to-Play Rules
October 24, 2017-- The pay-to-play rules have expanded to FINRA capital acquisition brokers ("CABs") and the investment advisers who use CABs to solicit governmental entities, which include public pension funds, for investment advisory services.
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Source: K&L Gates
