New products and changes introduced over the last week include three smart beta ETFs from State Street Global Advisors and Azzad Asset Management’s finalization of a gun-free investing policy. Also, Elkhorn added a high-yield ETF and RiXtrema integrated with Albridge Wealth Reporting.

Here are the latest developments of interest to advisors:

1) SSGA Adds Three Smart Beta ETFs

State Street Global Advisors launched three U.S. smart beta ETFs. Developed with the Alaska Permanent Fund Corp. (APFC) as a cornerstone investor in the funds, they are designed to track the performance of rules-based indexes from FTSE Russell.

The ETFs are the SPDR Russell 1000 Yield Focus ETF (ONEY), SPDR Russell 1000 Momentum Focus ETF (ONEO) and the SPDR Russell 1000 Low Volatility Focus ETF (ONEV).

2) Azzad Asset Management Goes Gun-Free

Azzad Asset Management, investment advisor to the Azzad Funds, finalized a gun-free investing policy that prohibits it from investing in companies that manufacture the weapons that have been used in mass shootings and other gun violence in the U.S.

The firm’s investment committee identified three companies in particular that benefit from the sale of assault weapons: Smith & Wesson (SWHC), Sturm, Ruger & Co. (RGR) and Olin (OLN). Both Smith & Wesson and Sturm manufacture versions of the assault rifle used in the latest mass shooting in San Bernardino, California. Olin is an ammunitions producer.

While Azzad does not currently invest in these companies and therefore cannot divest from them, its investment committee has now explicitly prohibited portfolio managers from purchasing shares of these companies.

3) Elkhorn Capital Group Adds High-Yield ETF

Elkhorn Capital Group introduced the Elkhorn FTSE RAFI U.S. Equity Income ETF (ELKU), which is based on the FTSE RAFI U.S. Equity Income Index and offers a risk-managed approach to high yield dividend investing.

The RAFI strategy screens high-dividend paying stocks for financial health and then applies its fundamental weighting.

4) RiXtrema Integrates With Albridge

RiXtrema announced that its portfolio crash test solution is now integrated with Albridge Applink, which enables advisors to access and transfer client data between Albridge Wealth Reporting and third-party applications.

The addition of RiXtrema gives advisors the ability to integrate client data into a risk management tool and present clients with charts and reports illustrating their investment options.

Read the Dec. 4 Portfolio Products Roundup on ThinkAdvisor.