Americas ETP News
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BlackRock Canada Announces Changes to its iShares Fund Lineup
August 11, 2023--BlackRock Asset Management Canada Limited ("BlackRock Canada"), an indirect, wholly-owned subsidiary of BlackRock, Inc. ("BlackRock") (NYSE:BLK) announced plans today to terminate the following funds (collectively, the "Terminating Funds"), based on an ongoing process to review its product lineup and meet the evolving needs of Canadian investors.
Each Terminating Fund will terminate on or about the applicable termination date set out below (with respect to a Terminating Fund, its "Termination Date").
Terminating Fund Name: iShares MSCI Multifactor USA Index ETF
Ticker: XFS/
XFS.U
Termination Date: October 24, 2023
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Source: BlackRock Asset Management Canada Limited
Index-Tracking ETFs Were All the Rage, Until Now
August 11, 2023--Active funds offered by JPMorgan, Dimensional gain popularity, take market share from giants like BlackRock
The titans of the ETF industry are facing competition in the battle for new money.
BlackRock, Vanguard Group and State Street have long had a chokehold on the market for exchange-traded funds, largely through the passive index-tracking funds that helped make ETF investing popular.
Active funds hold only 4% of ETF assets but account for 23% of ETF inflows so far this year.
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Source: wsj.com
ETFGI reports assets invested in the ETFs industry in Canada reached a record of US$295 billion at end of July
August 10, 2023--ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reports assets invested in the ETFs industry in Canada reached a record of US$295 billion at the end of July.
The ETFs industry in Canada gathered net inflows of US$2.77 billion during July, bringing year-to-date net inflows to US$19 billion. Assets have increased 17.7 % YTD in 2023, going from US$250.19 Bn at the end of 2022, to US$294.56 Bn at the end of July, according to ETFGI's July 2023 Canadian ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Asset invested in the ETFs industry in Canada reached a record $294.56 Bn. Prior record $ 286.13 Bn was set at the end of June 2023.
Net inflows of $2.77 Bn in July 2023.
Year-to-date net inflows of $19 Bn are the third highest, after YTD net inflows of $28.57 Bn in 2021, YTD net inflows of $21.70 Bn in 2020.
13th month of consecutive net inflows.
Equity ETFs and ETPs listed in Canada gathered $3.77 Bn in YTD net inflows 2023.
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Source: ETFGI
Five Treasury Digital Funds Linked to Solactive Indices Available on WisdomTree Prime
August 10, 2023--Interest rates have been steadily rising over a little more than a year, primarily driven by inflationary pressures and the actions taken by the Federal Reserve.
Consequently, Treasury instruments have experienced a resurgence in popularity and demand, leading investors to turn to these instruments to mitigate risks and capitalize on the stability and reliability of Treasury securities.
Foreseeing this potential, Solactive is pleased to announce that WisdomTree has broadened its range of US Treasury-linked products by launching five Digital Funds seeking to track Solactive indices. These funds are now available to investors in 21 U.S. states via WisdomTree Prime, a personal finance app within a blockchain-native ecosystem.
Among the new offerings, the WisdomTree Floating Rate Treasury Digital Fund (FLTTX) is linked to the Solactive US Treasury Floating Rate Bond Index. This index provides exposure to the short end of the yield curve, as the coupon rate of index components is reset regularly, according to the 13-week bill auction results.
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Source: Solactive AG
J.P. Morgan Asset Management Announces Liquidation of Two Exchange-Traded Funds
August 10, 2023--J.P. Morgan Asset Management today announced the upcoming liquidation and dissolution of two exchange-traded funds: JPMorgan ActiveBuilders U.S. Large Cap Equity ETF (JUSA) and JPMorgan ActiveBuilders International Equity ETF (JIDA) (collectively, the "ETFs").
Shareholders may buy and sell their shares prior to the de-listing date at market prices on the NYSE Arca. Last day of trading for JUSA on the NYSE Arca is September 13, 2023. Last day of trading for JIDA on the NYSE Arca is October 10, 2023.
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Source: J.P. Morgan Asset Management
ETFs evolve in the active investing space
August 10, 2023--Expect more launches if the investment trust drought continues
Not everything in life is binary.
That's not a mantra from the culture wars but a statement of fact from the front line of the key struggle in the world of investing: the battle between passive and active funds.
Most passive funds are structured as exchange traded funds (ETFs) but there's also a growing cohort of so-called "active ETFs".
Some might proclaim that this surely this goes against the whole concept of passive funds -which find a big, diverse, benchmark index and then copy it by tracking its constituents. Passively.
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Source: ft.com
Noble Absolute Return ETF (NOPE) to Close
August 9, 2023--The Board of Trustees of Tidal ETF Trust has decided to liquidate and close the NOBLE ABSOLUTE RETURN ETF (the "Fund"), based on the recommendation of the Fund's adviser, Toroso Investments, LLC, a Tidal Financial Group company, and the Fund's sub-adviser, Noble-Impact Capital, LLC. The Board of Trustees concluded that liquidating and closing the Fund would be in the best interest of the Fund and its shareholders.
The Fund will cease trading on the NYSE Arca, Inc. ("NYSE") and will be closed to purchase by investors as of the close of regular trading on the NYSE on August 24, 2023 (the "Closing Date"). The Fund will not accept purchase orders after the Closing Date.
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Source: Tidal Financial Group
USCF Announces Launch of the USCF Sustainable Commodity Strategy Fund (Ticker: ZSC)
August 9, 2023--USCF today announced it has launched the USCF Sustainable Commodity Strategy Fund (ZSC). The Fund seeks total return by providing broad exposure to commodities across three different sustainability focused themes: agriculture, renewable energy and electrification. ZSC is an actively managed exchange traded fund (ETF).
"We believe that ZSC offers investors the opportunity to capture the benefits of commodities through a new lens," said John Love, President and CEO of USCF. "ZSC delivers commodity exposure oriented toward the agriculture needed to feed the world's growing population, renewable energy and the electrification metals poised to benefit from secular growth tied to the energy transition."
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Source: USCF Investments
GraniteShares ETFs Announces Repositioning of U.S. Large Cap ETF
August 9, 2023--GraniteShares today announced plans to reposition and rename a large-cap ETF in its fund range: GraniteShares XOUT U.S. Large Cap ETF (NYSE: XOUT) (the "Fund"). With this repositioning, the firm will change the ticker symbol, investment goal and strategy for the Fund.
The index provider for the Fund will change from XOUT Capital,LLC to NASDAQ, Inc. and the underlying index will change as described below.
Effective August 15, 2023, the Fund will begin to seek investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an index called the Nasdaq US Large Cap Select Disruptors Index (the "New Index").
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Source: GraniteShares
CBO-Monthly Budget Review: July 2023
August 8, 2023--Summary
The federal budget deficit was $1.6 trillion in the first 10 months of fiscal year 2023, the Congressional Budget Office estimates-more than twice the shortfall recorded during the same period last year.
Revenues were 10 percent lower and outlays were 10 percent higher from October through July than they were during the same period in fiscal year 2022.
Outlays in fiscal year 2023 were reduced by the shifting of certain payments-totaling $63 billion-from October 1, 2022 (the first day of fiscal year 2023), into fiscal year 2022 because October 1 fell on a weekend. If not for those shifts, the deficit through July would have been $1.7 trillion.
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Source: CBO (Congressional Budget Office)
