Virtus ETF Solutions has launched the Virtus Terranova U.S. Quality Momentum ETF (JOET, with a 0.29% net expense ratio), which seeks to deliver exposure to U.S.-listed large-cap companies that combine strong quality fundamentals with positive momentum technical trends.
The new exchange-traded fund is listed on Nasdaq and tracks the Terranova U.S. Quality Momentum Index (VTUSQM), which was created and developed by Joseph M. Terranova, senior managing director and chief market strategist for Virtus, the Virtus Investment Partners affiliate said. The index’s methodology reflects the investment philosophy Terranova has used throughout his career on Wall Street as a professional investor, risk manager and trader.
JOET can serve as a core equity holding in a diversified portfolio because the ETF “strives to provide exposure to the best performing U.S. large-cap companies with the highest quality fundamental characteristics, resulting in a distinct portfolio built for long-term growth,” according to Virtus.
Separately, Virtus Investment Partners and affiliated manager Sustainable Growth Advisers have launched the Virtus SGA New Leaders Growth Fund (A Shares: VNLAX, 1.39%; C Shares: VNLCX, 2.14%; I Shares: VNLIX, 1.14%; and R6 Shares: VNLRX, 0.91%), offering investors exposure to companies across the globe, with a focus on mid-cap companies.
The fund’s objective of seeking long-term capital appreciation uses an investment approach also used by SGA’s Global Mid-Cap Growth institutional separate account strategy. SGA’s investment process identifies companies that the firm believes have a high degree of predictability, strong profitability and above-average earnings and cash flow growth. The fund is benchmarked to the MSCI ACWI Mid Cap Index.
First ETF Launched by Leatherback
Leatherback Asset Management teamed with Tidal ETF Services to introduce its first ETF: the Leatherback Long/Short Alternative Yield ETF (LBAY, 1.09%) on the NYSE Arca.
LBAY is an actively managed alternative yield strategy that offers a cost-effective, liquid and tax-efficient means for investors to add a high-quality allocation with targeted monthly distributions to their portfolios, the company says.
At the same time, the ETF will seek to identify “idiosyncratic opportunities where a security’s price may be poised to decline and will build ‘short’ positions as determined by the Fund’s management,” the firm says. The ETF “may write covered calls when Leatherback believes call premiums are attractive relative to the price of the underlying securities,” it also notes.
A second Leatherback ETF – the Long/Short Absolute Return ETF (LBAR) – is “coming soon,” according to its website.