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ProcureAM’s Space ETF (UFO) Takes Off: Portfolio Products

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Exchange-traded product issuer ProcureAM is boldly going where no one has gone before with the launch of the Procure Space ETF (UFO).

The global ETF, which is the first product launched by ProcureAM, gives investors pure-play access to the expanding space industry.

UFO tracks (before fees and expenses) the S-Network Space Index, which focuses on companies that are significantly engaged in space-related activities. Index constituents span multiple industries, including satellite-based consumer products and services, rocket and satellite manufacturing, space technology hardware, and space-based imagery and intelligence services.

Approximately 80% of companies in the index derive the majority of revenues directly from their involvement in the space industry, enabling investors to potentially capture this growing segment of the global economy. UFO has an expense ratio of 0.75%.

Global X Launches ETF targeting the Transformative Genomics Industry

Global X ETFs, the New York-based provider of exchange-traded funds, launched an ETF that’s designed to benefit from advances in the field of genomic science.

The Global X Genomics & Biotechnology ETF (GNOM) tracks the Solactive Genomics Index, which holds a basket of companies that potentially stand to benefit from advances in the field of genomic science, such as companies involved in gene editing, genomic sequencing, genetic medicine/therapy, computational genomics, and biotechnology. GNOM has a total expense ratio of 0.68%.

First Ascent Launches Flat-Fee, Multi-Factor, Open Architecture Portfolios

First Ascent Asset Management announced the launch of its Factor Select portfolios, which are factor-based portfolios to be offered for a low, flat annual fee of $500.

The new portfolios were developed in response to advisor demand.

The portfolios tilt toward the value, size, quality, and momentum factors because there is strong historical evidence that they can provide a performance advantage.

First Ascent built these portfolios using an open architecture approach that allows it to utilize funds from different asset management firms. Each firm defines and manages exposure to the factors somewhat differently, giving the Factor Select portfolios additional factor diversity.

The Factor Select portfolios hold between five and eight positions and their internal expenses range from 0.11% to 0.23%.

SoFi Releases SoFi Select 500 and SoFi Next 500 ETFs

SoFi announced today the availability of two new ETFs: the SoFi Select 500 ETF (NYSE: SFY) and the SoFi Next 500 ETF (NYSE: SFYX).

Both funds have fee waivers in place that lower total fund expenses to zero through at least June 30, 2020.

(Related on ThinkAdvisor:  SoFi Files for First Zero-Fee ETFs)

SoFi Select 500 ETF (SFY) is composed of the 500 largest publicly traded U.S. companies and  each stock’s contribution to the ETF is based on the company’s growth rates. SFY tracks the performance of the Solactive SoFi US 500 Growth Index, weighing each company based on three key growth signals – top-line revenue growth, net income growth, and forward-looking consensus estimates of net income growth. Traditional indexed ETFs often weigh only market capitalization.

SoFi Next 500 ETF (SFYX) is composed of 500 mid-cap U.S. companies, and similarly, weighs each stock’s contribution based on the company’s growth rates. SFYX tracks the performance of the Solactive SoFi US Next 500 Growth Index, focusing on the 501st through the 1000th largest domestic companies.

LPL Financial Adds RightCapital Financial Planning Software to Vendor Affinity Program

RightCapital has been selected to join LPL Financial’s Vendor Affinity Program.

As a member of the program, RightCapital’s solutions – which offer , a next-generation financial planning tool that provides advisors with the ability to create custom, comprehensive financial plans – are  available to the more than 16,000 financial advisors affiliated with LPL.

The Vendor Affinity Program is designed to help advisors reduce the complexity and costs of running their businesses. It consists of a centralized repository of vendors that have agreed to provide their products and services to LPL advisors at discounted prices. Vendors are selected for the program based on advisor experience, ease of doing business with LPL advisors and ability to meet certain security and compliance requirements.

In addition to providing key financial planning functions for advisors, RightCapital integrates tax, retirement, investment, insurance, college education funding, and budgeting into a modern client portal that helps advisors deliver “right-fit” financial plans to their clients.

FTSE Russell introduces Multi-Asset Composite Index Series

FTSE Russell launched a new index series designed to provide broad measures of cross-asset market performance across a diverse selection of global regions and risk exposures.

The FTSE Multi-Asset Composite Index Series includes a wide range of indexes across major asset classes covering global, regional and emerging markets including the U.S., Europe and China.

FTSE Russell developed the new index series in response to clients who invest across asset classes and are looking for ways to measure this multi-asset performance in a consistent and accurate way. The new Series is overseen by FTSE Russell’s transparent global index governance framework and is fully customizable on request.

Market participants can choose the equity to fixed income asset allocation (i.e., 80/20, 60/40, 50/50, 30/70) to fit their strategy and can further customize in other ways including asset classes, weightings, currencies, countries, sectors and hedging.

See last week’s portfolio product roundup here:  State Street Global Advisors Launches To Sector Rotation ETFs: Portfolio Products


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