Wednesday, May 19, 2021

New ETF to list tomorrow May 20, 2021

ProShares Nasdaq-100 Dorsey Wright Momentum ETF

Ticker: QQQA
Exchange: NASDAQ

Summary
One of those rare non-leveraged ProShares, tracks index of 21 stocks whose price have appreciated most in previous quarter. 

Analysis
For proponents and fans of the Dorsey Wright methodology, this QQQA will also appeal to traditional momentum and possibly technical traders. The investment thesis is straightforward and thus easy to articulate to advisers, and backed by a known name in ETFs.

However, the price is relatively high for a portfolio of 21 securities, and the positioning will be challenging amidst the competition.

This fund has a 3/5 AUM growth potential.

Expense ratio: 0.58%
Original filing date: February 26, 2021
Effective date: May 12, 2021
Listing Date: May 20, 2021
CUSIP: 74347G671

Active: No
Index / Benchmark: Nasdaq-100 Dorsey Wright Momentum Index
 
Investment Objective:
Seeks investment results, before fees and expenses, that track the performance of the Nasdaq-100 Dorsey Wright Momentum Index.
 
Investment Strategy / Index Methodology:
Universe: NASDAQ 100 index components

Uses proprietary Dorsey Wright relative strength process to identify 21 stocks from the NASDAQ 100 whose price have appreciated the most in the previous quarter.

 
Constituents: 21
 
Adviser: ProShare Advisors
Sub-Adviser: N/A
Portfolio Managers: Michael Neches, Devin Sullivan
Administrator: JPMorgan Chase Bank, N.A.
Fund accountant: JPMorgan Chase Bank, N.A.
Transfer agent
JPMorgan
Custodian: JPMorgan Chase Bank, N.A.
Distributor: SEI Investments Distribution Co.
Legal counsel: Ropes & Gray LLP
External accounting: PricewaterhouseCoopers LLP
Compliance: Citi Fund Services Ohio, Inc.
 
Prospectus is here.
Product page is here.
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New Active ETF filed

Spear Alpha ETF
Ticker: TBD
Exchange: TBD
Expense ratio: TBD

Summary
Thematic actively-managed ETF that invests in portfolio of stocks that will benefit from innovation in industrial technology that will transform the industrial sector.

Original filing date: May 17, 2021
Effective date: August 02, 2021
Listing Date: TBD

CUSIP: TBD

Active: Yes
Index / Benchmark: N/A
 
Investment Objective:
Seeks long-term capital growth.
 
Investment Strategy / Index Methodology:
Universe: Unspecified

1. Top-down analysis to identify companies in following themes:
  • Environmental Focus and Decarbonization
  • Manufacturing Digitalization
  • Robotics and Industrial Automation
  • Photonics and Additive Manufacturing
  • Space Exploration
  • Artificial Intelligence (“AI”)
2. Bottom-up research on each company
  • Market potential and competitive positioning
  • Financial performance and history of generating returns on invested capital
  • Quality of management team
  • Valuation including Discounted Cash Flow Model

3. ESG screen
4. Continuous evaluation of fundamentals


Constituents: TBD
 
Adviser: Spear Advisors LLC
Sub-Adviser: N/A
Portfolio Managers: Ivana Delevska

Administrator: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services
Fund accountant: TBD
Transfer agent: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services
Custodian: U.S. Bank National Association
Distributor: TBD
Legal counsel: Morgan, Lewis & Bockius LLP
External accounting: TBD
Compliance: TBD
 
Prospectus is here.


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Monday, May 17, 2021

New Psychedelics ETF filed

PSYK ETF
Ticker: PSYK
Exchange: NYSE Arca
Expense ratio: TBD

Summary
Tracks an index of 25 companies listed in the USA or Canada involved in development of pyschedelics for medical use. Uses natural language algorithm to comb through public documents to identify companies in pyschedelics.


Original filing date: May 14, 2021
Effective date: July 28, 2021
Listing Date: TBD
CUSIP: TBD

Active: No
Index / Benchmark: Enhanced Consciousness Index
 
Investment Objective:
Seeks to track the performance, before fees and expenses, of the Enhanced Consciousness Index
 
Investment Strategy / Index Methodology:

Universe: Stocks listed in USA or Canada

Companies involved in development of psychedelics are identified and ranked using Solactive index calculation agent's natural language algorithm ARTIS. ARTIS reviews publicly available documents to identify these companies. Solactive reviews the list of companies identified by ARTIS and removes those that were wrongly identified.

Top 25 companies are selected and weighted by market capitalization, with constraints. If less than 25 companies are available, medical cannabis companies are added until 25 names are reached.


Constituents: 25
 
Adviser: Exchange Traded Concepts, LLC
Sub-Adviser: N/A
Portfolio Managers: Andrew Serowik and Travis Trampe
Administrator: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services
Fund accountant: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services
Transfer agent: U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services
Custodian: U.S. Bank National Association
Distributor: Quasar Distributors, LLC
Legal counsel: Morgan, Lewis & Bockius LLP
External accounting: TBD
Compliance: TBD
 
Prospectus is here.





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Sunday, May 16, 2021

New LGBTQ + ESG 100 ETF to list on May 18

LGBTQ + ESG100 ETF
Ticker: LGBT
Exchange: NASDAQ

Expense ratio: 0.75%
Original filing date: June 17, 2019
Effective date: May 14, 2021
Listing Date: May 18, 2021

CUSIP: 74280T201
Active: No
Index / Benchmark: LGBTQ100 ESG Index
 
Investment Objective:
Seeks to track the investment results (before fees and expenses) of the LGBTQ100 ESG Index.
 
Investment Strategy / Index Methodology:
Universe: Fortune 1000 companies

1. 100% on self-reported survey (Harris Poll)
  • Non-discrimination policies
  • Benefits for LGBTQ workers and their families
  • Inclusive culture & corporate responsibility
2. Must be in top 500 largest US companies by market capitalization
3. Screens out companies in guns, tobacco, pornography, weapons of mass destruction, two-thirds revenue from gaming industry (FactSet Revere Business Industry Classification System "RBICS")
4. Screen for fundamentals, low price volatility, and liquidity
5. Screen for satisfactory ESG (Institutional Shareholder Services) or LGBTQ Brand Loyalty & Support (Fuzzy Logix LLC) scores.
6. Top 2 companies of each of the 11 RBICS sectors are automatically included. The remaining companies are selected based on descending order by sales growth over past 1 year period until 100 names are reached.
7. Weight of each of 100 companies is based on inverse of volatility, free float adjusted market capitalization, and price to earning ratio. No RBICS sector can be over 25%, and no single component can be over 5%.
8. Annual reconstitution and quarterly rebalance.


Constituents: 100
 
Adviser: Penserra Capital Management, LLC
Sub-Adviser: N/A
Portfolio Managers: Dustin Lewellyn, Ernesto Tong, and Anand Desai
Administrator: U.S. Bancorp Fund Services
Fund accountant: U.S. Bancorp Fund Services
Transfer agent: U.S. Bancorp Fund Services
Custodian: U.S. Bank, N.A.
Distributor: Quasar Distributors LLC
Legal counsel: K&L Gates LLP
External accounting: Cohen & Company Ltd.
Compliance: Cipperman Compliance Services, LLC
 
Prospectus is here.






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Loyalty Preference Index, Inc. (“Index Provider”), located at 2435 Dixie Hwy, Wilton Manors, FL 33305 is the provider of the Underlying Index.


Thursday, May 13, 2021

First Trust's Active ESG ETF ready to list

First Trust TCW ESG Premier Equity ETF
Ticker: EPRE
Exchange: NYSE Arca
Expense ratio: 0.85%

Original filing date: January 08, 2021
Effective date: May 14, 2021
Listing Date: TBD
CUSIP: 33740U877

Active: Yes
Index / Benchmark: N/A
 
Investment Objective:
Seek to provide investors with long-term capital appreciation.
 
Investment Strategy / Index Methodology:

Universe: U.S. equities

Selection driven by rankings on two proprietary scores:
  • ESG Fundamental Score 
  • ESG Disclosure Score
  • Free-cash flow analysis
Scores based on:
  • avoiding or minimizing environmental liabilities
  • reducing regulatory risk
  • improving productivity and morale
  • reducing turnover
  • aligning interests of shareholders and management
  • reducing reputational risk disclosure

 
Constituents: TBD
 
Adviser: First Trust Advisors L.P.
Sub-Adviser: TCW Investment Management Company
Portfolio Managers: Joseph R. Shaposhnik
Administrator: The Bank of New York Mellon
Fund accountant: The Bank of New York Mellon
Transfer agent: The Bank of New York Mellon
Custodian: The Bank of New York Mellon
Distributor: First Trust Portfolios L.P.
Legal counsel: TBD
External accounting: TBD
Compliance: TBD
 
Prospectus is here.

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Principal Investment Strategies

Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies that meet the Sub-Advisor's environmental, social and governance (ESG) criteria. Although the Fund emphasizes investments in equity securities of large capitalization companies, it may invest in the equity securities of companies of any size.

The Fund is actively-managed and intends to achieve its objective by investing primarily in a portfolio of companies that TCW Investment Management Company (“TCW” or the “Sub-Advisor”) believes are enduring, cash generating businesses whose leaders prudently manage their environmental, social, and financial resources and whose shares are attractively valued relative to the free cash flow generated by the businesses. The Sub-Advisor believes a focus on environmental, social, and corporate governance (“ESG”) factors can provide competitive advantages for a company, such as avoiding or minimizing environmental liabilities, reducing regulatory risk, improving productivity and morale, reducing turnover, aligning interests of shareholders and management and reducing reputational risk disclosure. To identify companies for inclusion in the portfolio, the Sub-Advisor has developed its own quantitative ESG framework to assess company performance regarding ESG.

The Sub-Advisor uses publicly reported company data to assign a proprietary ESG Fundamental Score and ESG Disclosure Score to each company, which indicates how a company is performing relative to its peers regarding ESG factors. The Fundamental Score indicates how each company is performing relative to its peers on a number of publicly reported ESG factors. The Disclosure Score indicates how much information the company is disclosing, relative to its peers. Some of the factors the Sub-Advisor considers include, but are not limited to, environmental factors, such as greenhouse gas and waste levels, social factors, such as diversity, employee turnover, and level of community spending, and governance factors, such as board composition, board independence, compensation structures and ESG governance.

In addition, the Sub-Advisor conducts rigorous fundamental analysis in seeking to identify predictable growth businesses with high barriers to entry that generate consistent free cash flow.

The Sub-Advisor uses both qualitative and quantitative screening criteria to supplement its fundamental research and portfolio selection. The Sub-Advisor’s screening focuses on companies whose shares are trading at prices that are below intrinsic value, as determined by the Sub-Advisor. When identifying a company for inclusion, the Sub-Advisor reviews, among other things, the business model, the historical performance, the management team and board of directors of a company, and performs a financial analysis to determine whether a company has a low purchase price relative to the free cash flow generation of the enterprise. Portfolio securities may be sold for several reasons, including but not limited to, a deterioration in the underlying fundamentals of the company, a deterioration in the environmental, social and corporate governance performance of the company, another investment security may offer a better investment opportunity or a company has reached its sell target and the investment thesis has played out. The Fund is expected to have significant investments in industrials companies and information technology companies.

The Fund may invest in securities issued by companies in initial public offerings ("IPOs") and it may also invest in securities of special purpose acquisition companies ("SPACs"). A SPAC is a publicly listed acquisition vehicle, whereby one or more sponsors raise a pool of capital with the special purpose of acquiring a private operating company. Unless and until an acquisition is completed, a SPAC generally invests its assets (less a portion retained to cover expenses) in U.S. government securities, money market securities and cash. If an acquisition that meets the requirements for the SPAC is not completed within a pre-established period, the invested funds are returned to the entity’s shareholders.

The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).












 

New International Equity Active ETF filed

Main International ETF
Ticker: INTL
Exchange: TBD

Expense ratio: TBD
Original filing date: May 13, 2021
Effective date: July 27, 2021
Listing Date: TBD
CUSIP: TBD

Active: Yes

Index / Benchmark: MSCI All Country World ex-USA Index®
 
Investment Objective:
Seeks to outperform the MSCI All Country World ex-USA Index® over a full market cycle while maintaining below-benchmark risk.
 
Investment Strategy / Index Methodology:
Universe: MSCI ACWI constituents
  • Fund of 5 to 20 ETFs based on global macro-economic, micro-economic and fundamental factors to assess whether a market sector or geographic region is expected to undergo a transformative change that could lead to near-term price appreciation of companies within that sector or region. 
  • Target appreciation prices for stocks for selling or revising upwards.
  • Covered calls and covered puts and also buying puts to generate additional income and reduce volatility.

Constituents: 5 to 20 ETFs
 
Adviser: Main Management ETF Advisors, LLC
Sub-Adviser: N/A
Portfolio Managers: Kim D. Arthur, Chief Executive Officer of the Adviser, James W. Concidine, Chief Risk Officer of the Adviser, J. Richard Fredericks, Managing Director of the Adviser, and Alex Varner, Director of Research of the Adviser

Administrator: Gemini Fund Services, LLC
Fund accountant: Gemini Fund Services, LLC
Transfer agent: TBD
Custodian: TBD
Distributor: Northern Lights Distributors, LLC
Legal counsel: Thompson Hine LLP
External accounting: TBD
Compliance: TBD
 
Prospectus is here.
 
Company URL: www.mainmgtetfs.com

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ARK files for new ETF tracking Transparency Index

Name :  ARK Transparency ETF Ticker :   TBD Exchange :   TBD Expense ratio : 0.00% Original filing date : August 31, 2021 Effective date : N...