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Portfolio > ETFs

Direxion Adds 5 Leveraged ETFs Tied to Changing Policies: Portfolio Products

By Emily Zulz

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Direxion has launched five leveraged ETFs, further expanding its existing lineup of more than 75 leveraged and inverse ETFs.

The five new ETFS aim to provide exposure to areas affected by changing policies.

Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN) looks at the benchmark Dow Jones U.S. Select Aerospace & Defense Index. Direxion Daily Industrials Bull 3X Shares (DUSL) uses the Industrials Select Sector Index as its benchmark.

Direxion Daily MSCI Mexico Bull 3X Shares (MEXX) uses the MSCI Mexico IMI 25/50 Index as its benchmark. Direxion Daily Transportation Bull 3X Shares (TPOR) uses the Dow Jones Transportation Average for its benchmark. And, the Direxion Daily Utilities Bull 3X Shares (UTSL) uses the Utilities SelectSector Index as its benchmark.

“With the new administration in Washington comes new policies that have the potential to affect the capital markets landscape,” said Sylvia Jablonski, managing director at Direxion, in a statement. “We aim to provide traders with ways to capitalize on opportunities created by those new policies.”

Arrow Funds Adds Two ETFs To E*Trade’s Commission-Free ETF Platform

Arrow Funds placed two ArrowShares exchange-traded funds (ETFs) on E*TRADE’s commission-free ETF platform.

The firm’s flagship ETF, Arrow Dow Jones Global Yield ETF (NYSE: GYLD), as well as the Arrow DWA Tactical ETF (NASDAQ: DWAT) can now be bought and sold without paying brokerage commissions via E*TRADE’s platform.

“We are pleased to enhance accessibility to two Arrow ETFs that can help investors meet specific portfolio needs,” said Joseph Barrato, CEO and Director of Investment Strategy at Arrow Funds. “The Arrow Dow Jones Global Yield ETF addresses the income challenge that so many investors currently face, while the Arrow DWA Tactical ETF offers an attractive option for investors seeking a global macro strategy.”

Benchmarked to the Dow Jones Global Composite Index, GYLD provides global, multi-asset exposure to traditional and alternative sources of yield, including global sovereign debt, global equity, global real estate, global alternatives (master limited partnerships) and global corporate debt.

DWAT provides an active strategy that leverages the technical analysis expertise of Dorsey, Wright & Associates (DWA) to respond to changing market conditions.

Thornburg Launches Limited Term Income UCITS Fund

Thornburg Investment Management launched the firm’s first fixed income UCITS product, the Thornburg Limited Term Income Fund. The firm now has six UCITS funds, domiciled in Ireland, that are available to overseas investors.

The Thornburg Limited Term Income Fund will be managed by Jason Brady, Lon Erickson and Jeff Klingelhofer, along with support from the entire Thornburg investment team.

This new product, which is similar to the U.S.-based Thornburg Limited Term Income Fund (THIFX), is a laddered portfolio of short and intermediate investment grade obligations with an average maturity of less than five years. 

The UCITS fund will have six different share classes, with both accumulation and distribution shares of A, I and C share classes, and will only be available to offshore investors. 

AB Selects Bloomberg’s Evaluated Pricing For U.S. Fixed Income Securities

AllianceBernstein (AB) selected Bloomberg’s evaluated pricing service (BVAL) to benchmark and corroborate end-of-day values of its U.S. fixed income portfolio investments.

AB licenses BVAL data to calculate the net asset value (NAV) of its corporate, government and municipal bond investments. Bloomberg provides broad coverage of U.S. fixed income securities, access to in-house evaluator teams and transparency into BVAL pricing models through Bloomberg Terminal screens.

BVAL’s unique methodology draws on real-time access to market observations from a wealth of contributed sources that produces credible, defensible and independent valuations for more than 2.5 million fixed income securities and over-the-counter derivatives.

BVAL is the primary pricing source for the Bloomberg Barclays bond indices which are widely recognized benchmarks for fixed income investors.

VelocityShares Launches European Volatility ETNs

VelocityShares, a Janus Capital Group brand, announced the launch of two new European volatility linked Exchange Traded Notes (ETNs).

VelocityShares 1X Long VSTOXX Futures ETN (BATS: EVIX)  and VelocityShares 1X Daily Inverse VSTOXX Futures ETN (BATS: EXIV) are linked to indices on VSTOXX Short-Term Futures, a widely traded measure of European equity market volatility. 

VelocityShares 1X Long VSTOXX Futures ETN (BATS: EVIX) is linked to the VSTOXX Short-Term Futures Investable Index USD. And, VelocityShares 1X Daily Inverse VSTOXX Futures ETN (BATS: EXIV) is linked to the VSTOXX Short-Term Futures Inverse Investable Index USD.

The VSTOXX Short-Term Futures Investable Index replicates the performance of a long position in a portfolio of VSTOXX futures designed to provide exposure to constant-maturity one-month forward, one-month implied volatilities on the underlying EURO STOXX 50 Index. The VSTOXX Short-Term Futures Inverse Investable Index replicates the performance of a short position in a portfolio of VSTOXX futures designed to provide exposure to constant-maturity one-month forward, one-month implied volatilities on the underlying EURO STOXX 50 Index.

Jefferson National adds 6 New Funds to Monument Advisor

Jefferson National, now operating as Nationwide’s advisory solutions business, adds six new funds to Monument Advisor, a flat-fee Investment-Only Variable Annuity (IOVA).

One immediate benefit to Jefferson National operating as Nationwide’s advisory solutions business is it now offers a fund from MainStay Investments as of May 1, 2017.  MainStay VP Convertible is a convertible-specific strategies in the VIT universe.

In addition, the company now offers six new funds which are subadvised by recognized managers. This includes three new additions subadvised by Dimensional Fund Advisors: NVIT DFA Capital Appreciation, NVIT DFA Moderate, and NVIT Multi Manager International Value, which is subadvised by both DFA and JPMorgan.

NVIT Multi Manager Mid Cap Value is subadvised by American Century, Thompson, Siegel & Walmsley, and WEDGE Capital Management. Neuberger Berman NVIT Socially Responsible is now offered in a new share class with a lower expense ratio to further benefit advisors and their clients.

–Read last week’s portfolio roundup here: Nuveen Adds Real Estate Allocation to TDF Series: Portfolio Products

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