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Portfolio > ETFs

Invesco Introduces Its First Active Nontransparent ETFs: Portfolio Products

By Jeff Berman

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Invesco has launched its first active nontransparent exchange-traded funds: the Invesco Focused Discovery Growth ETF (IVDG, with a 0.59% expense ratio); Invesco Real Assets ESG ETF (IVRA, 0.59%); Invesco Select Growth ETF (IVSG, 0.48%); and Invesco US Large Cap Core ESG ETF (IVLC, 0.48%), all listed on the Cboe BZX Exchange.

All four funds seek capital appreciation and IVRA also seeks current income.

IVDG invests in a concentrated portfolio of companies in the early growth phase of their business cycle. IVRA seeks capital appreciation and invests in real asset equities, including real estate, infrastructure, natural resources and timber that meet Invesco’s proprietary environmental, social and governance standards.

IVSG has a concentrated portfolio of large- and mid-cap stocks with attractive growth outlooks relative to their valuation at the time of purchase. IVLC is investing in larger-cap U.S. equities that meet certain ESG standards.

Simplify Rolls Out 4 ETFs 

Recently formed RIA Simplify Asset Management has introduced four new ETFs , each with a unique theme: Financial technology; pop culture and media; robotic cars and clean energy; and cloud and cybersecurity.

The new ETFs are the Simplify Volt Fintech Disruption ETF (VFIN, 1.03%); Simplify Volt Pop Culture Disruption ETF (VPOP, 1.03%); Simplify Volt RoboCar Disruption and Tech ETF (VCAR, 1.09%); and Simplify Volt Cloud and Cybersecurity Disruption ETF (VCLO, 1.02%), all listed on the New York Stock Exchange.

The company’s thematic ETFs are “designed to be an attractive alternative to watered down thematic ETFs that try to buy every company in a particular theme,” according to Paul Kim, CEO, who co-founded the company in September with David M. Berns, its chief investment officer.

Causeway Launches Concentrated Equity Fund

Causeway Capital Management has introduced the actively managed Causeway Concentrated Equity Fund, which seeks long-term growth of capital.

Investor Class shares (CCEVX), which have a 1.10% expense ratio, require a $5,000 minimum initial investment. Institutional Class shares (CCENX), which cost 0.85%, require a $1 million minimum initial investment. There are no minimum amounts required for subsequent investments.

The fund invests at least 80% of its total assets in equity securities of companies based in the U.S., other developed countries and emerging markets and will typically hold between 25 and 35 securities identified via fundamental research.

More ETF News

Swan Global Investments has launched its first ETF, the Swan Hedged Equity Exchange-Traded Fund (HEGD), which has an expense ratio of 0.87%. The fund is listed on the Cboe and was developed to “help long-term investors participate in the equity markets for capital appreciation, while hedging against the risks and volatility associated with today’s often turbulent markets,” according to the firm.

Swan has also partnered with Pacer ETFs to launch a new Structured Outcome Strategies fund family on the Cboe: the Pacer Swan SOS ETF Series. The new series seeks to match returns of the SPDR S&P 500 ETF Trust up to a predetermined cap on the upside, while also offering investors a buffer against market decline to a predetermined point. The family includes the Pacer Swan SOS Conservative (December) ETF (PSCX, 0.75%); Pacer Swan SOS Moderate (December) ETF (PSMD, 0.75%); Pacer Swan SOS Flex (December) ETF (PSFD, 0.75%); and the Pacer Swan SOS Fund of Funds ETF (PSFF, 0.93%).

Global Beta ETFs has changed the name of the Global Beta Momentum Growth ETF (GBGR) to the Global Beta Rising Stars ETF. It is still listed on the NYSE Arca with the same ticker and has a net expense ratio of 0.29%.

WisdomTree has completed the reorganization of the WisdomTree Continuous Commodity Index Fund (CCIF) into the WisdomTree Enhanced Commodity Strategy Fund (GCC, 0.55%), which trades on the NYSE Arca.  The reorganized fund seeks to provide broad-based exposure to a diversified basket of over 25 commodities across the energy, agriculture, precious metals, and industrial metals sectors, in contrast to CCIF, which provided exposure to a more limited basket of 17 commodities.

— Check out last week’s portfolio product roundup here: State Street Launches Alpha Data Platform: Portfolio Products

Jeff Berman

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