Our weekly roundup of new fund launches.
New blockchain retirement product from Bitcoin IRA
Investor can now add another cryptocurrency-based product in their retirement accounts. Bitcoin IRA has launched its second product, the Ethereum IRA.
The offering follows momentum from its first offering, the Bitcoin IRA, which has secured $10 million worth of real bitcoin since its launch in June 2016, the cryptocurrency IRA provider said. The investment uses TradeBlock's ECX Index as a reference rate and Genesis Global Trading for liquidity. The firm has partnered up with BitGo to store investor funds, according to the company. "Cryptocurrency as an industry is on a new wave of mainstream adoption,” said Chris Kline, COO of Bitcoin IRA.
Victory unveils a new dividend ETF
Searching for dividend growth is the primary goal of Victory Capital's newest offering, the VictoryShares Devidend Accelerator ETF (VSDA), the firm said. The ETF tracks the Nasdaq Victory Dividend Accelerator Index, which selects companies that provide track records of consistent dividend income. It seeks to identify those companies early in their lifecycles and assemble them in a rules-based portfolio. The fund's expense ratio is pegged at 0.35%.
New fund seeks profits from the ETF industry
The latest ETF from Toroso Investment, the ETF Industry Exposure & Financial Services ETF (TETF), seeks to capture the growth in the ETF industry, the firm said.
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The firm's success bucks a long-held premise that investing in developing markets requires active managers responding to sudden shifts in political risk.
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New research has found that funds with a high percentage of assets in ETFs underperform funds that hold stocks.
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As planners flock to these products, sponsors are differentiating their offerings to better stand out.
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The fund, which has an expense ratio of 0.64%, tracks the price and yield performance of the Toroso ETF Industry Index, and is comprised of publicly traded companies that derive revenue from the ETF industry, the firm said. The index includes ETF sponsors, index and data companies. Mike Venuto, CIO of Toroso, oversees the index along with other industry veterans. "We have deep roots in the ETF ecosystem and have created an index that captures the dynamism of ETFs and the disruptive innovation they have brought to the financial services industry," Venuto said.
5 new Direxion leveraged ETFs
Direxion is expanding its lineup of more than 75 leveraged and inverse ETFs in response to changing policies from the Trump administration, the firm stated.
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The newly launched funds - the Direxion Daily Aerospace & Defese Bull 3X Shares (DFEN), Direxion Daily Industrials Bull 3X Shares (DUSL), Direxion Daily MSCI Mexico Bull 3X Shares (MEXX), Direxion Transportation Bull 3X Shares (TPOR) and Direxion Daily Bull 3X Shares (UTSL) - each have net expense ratios of 0.95%, according to the firm. "With the new administration in Washington comes new policies that have the potential to affect the capital markets landscape," says Sylvia Jablonski, managing director at Direxion. "We aim to provide traders with ways to capitalize on opportunities created by those new policies."
First fixed income UCITS product from Thornburg
Thornburg Investment Management launched its first fixed income UCITS product; the Thornburg Limited Term Income Fund. The fund is the firm's sixth UCITS, domiciled in Ireland and available to overseas investors. The UCITS will have six share classes, with accumulation and distribution shares of A, I and C share classes, exclusively available to offshore investors, Thornburg said.
Ivy launches its first passive funds with ProShares
Ivy Investment Management Co. has partnered with ProShares to launch its first index funds, the firm said. The five new funds, the firm's first passive offerings, will be managed by Ivy and sub-advised by ProShares, according to the firm. All of the new offerings will be offered by Ivy Distributors and available through an advisory platform from Waddell & Reed, as well as through unaffiliated distribution, the firm said. "Offering active and passive investment styles helps financial advisors bring strategic flexibility to the planning process when building client portfolios," said Thomas W. Butch, CEO of Ivy Distributors. "These new products allow us to pair a highly experienced index fund manager with our skilled in-house Ivy investment management team, whose focus of course is on active management."
Direxion suspends gold ETF
Direxion has suspended its Direxion Daily Junior Gold Miners Index Bull 3X Shares ETF (JNUG) until further notice, the firm announced. The suspension is due to limited investments or financial instruments to provide necessary exposure to the MVIS Global Junior Gold Miners Index. Redemption orders for the fund will not be affected, the firm said.
