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July 02, 2015 at 06:07 AM
New products and changes introduced over the last week include a range of ETFs added by ProShares; a Japan ETF from Deutsche Asset & Wealth Management; added indexes and funds that track them from Calvert; an ETF from Hull Tactical Asset Allocation; and a unit investment trust portfolio from Incapital and KKM Financial.
Also, S&P Dow Jones Indices launched environmental and socially responsible indexes; SunGard added market data content to MarketMap; T. Rowe Price launched its market intelligence solution MarketScene; Envestnet|Tamarac implemented an integration with FactSet; and Oppenheimer converted its advisory programs to the VestmarkONE platform.
Here are the latest developments of interest to advisors:
1) ProShares Adds ETFs
ProShares has added a number of ETFs: two currency-hedged ETFs, the ProShares Hedged FTSE Europe ETF (HGEU) and ProShares Hedged FTSE Japan ETF (HGJP), and six additions to its leveraged/inverse lineup: UltraPro Nasdaq Biotechnology (UBIO), UltraPro Short Nasdaq Biotechnology (ZBIO), Ultra Homebuilders and Supplies (HBU), UltraShort Homebuilders and Supplies (HBZ), Ultra Oil and Gas Exploration and Production (UOP) and UltraShort Oil and Gas Exploration and Production (SOP).
HGEU is designed to match the performance of the FTSE Developed Europe 100% Hedged to USD Index, a free-float-adjusted and market-cap-weighted index comprising large- and mid-cap European stocks. The index hedges against fluctuations between the value of the U.S. dollar and the currencies in which the stocks are denominated. Currencies represented include the euro, Swiss franc, British pound, Danish krone, Swedish krona and Norwegian krone.
HGJP is designed to match the performance of the FTSE Japan 100% Hedged to USD Index, a free-float-adjusted and market-cap-weighted index comprising Japanese large- and mid-cap stocks. The index hedges against fluctuations between the value of the U.S. dollar and the Japanese yen
UBIO seeks to provide 3x and ZBIO seeks to provide -3x the daily performance of the Nasdaq Biotechnology Index, before fees and expenses. The Nasdaq Biotechnology Index is a modified capitalization-weighted index that includes Nasdaq-listed companies classified as either biotechnology or pharmaceutical.
HBU and HBZ seek to provide 2x and -2x the daily performance of the Dow Jones U.S. Select Home Construction Index, which includes U.S. companies whose business is related to the construction of residential homes, including manufacturers of mobile and prefabricated homes, as well as producers, sellers and suppliers of building materials, furnishings and fixtures. Each seeks to provide a multiple of the daily performance of the index, before fees and expenses.
UOP and SOP seek to provide 2x and -2x the daily performance of the S&P Oil and Gas Exploration and Production Select Industry Index, which is equally weighted and includes domestic companies from the oil and gas exploration and production subindustry. Each seeks to provide a multiple of the daily performance of the index, before fees and expenses.
2) Deutsche Asset & Wealth Management Adds Japan ETF
Deutsche Asset & Wealth Management has announced the launch of the Deutsche X-trackers Japan JPX-Nikkei 400 Equity ETF (JPN), which tracks the JPX-Nikkei 400 Index.
The JPX-Nikkei 400 Index screens for capital-efficient Japanese companies based on return on equity, cumulative operating profit and market capitalization.
3) Calvert Launches Indexes, Funds
Calvert Investments, Inc. has announced the launch of a suite of responsible indexes and related lower-cost index funds that will track them.
The firm has created the Calvert U.S. Large Cap Growth Responsible Index, Calvert U.S. Large Cap Core Responsible Index and Calvert U.S. Large Cap Value Responsible Index and renamed the existing Calvert Social Index Fund the Calvert U.S. Large Cap Core Responsible Index Fund (CSXAX). In addition, it has launched two index funds, the Calvert U.S. Large Cap Growth Responsible Index Fund (CGJAX) and the Calvert U.S. Large Cap Value Responsible Index Fund (CFJAX), each based on one of the new indexes.
4) Hull Tactical Asset Allocation Launches Fund
Hull Tactical Asset Allocation LLC has announced the launch of the Hull Tactical US ETF (HTUS), an actively managed ETF designed by Blair Hull.
HTUS has an investment objective of long-term capital appreciation. It takes long and short positions in ETFs that seek to track the performance of the S&P 500, as well as leveraged ETFs or inverse ETFs that seek to deliver multiples, or the inverse, of the performance of the S&P 500.
