Odds & Ends: 21 Launches Fill the Past Week

In one launch, BlackRock challenged JPMorgan with a JEPI-like options fund.

More than 20 exchange-traded funds were launched in the past week, with almost all of them crammed into Wednesday and Thursday. 

BlackRock launched an options ETF, the multitrillion-dollar fund titan joining Goldman Sachs in challenging JPMorgan in the options ETF business. JPM’s JPMorgan Equity Premium Income ETF (JEPI) has swelled to nearly $30 billion since its launch in 2020 and other fund firms are no doubt eager to replicate its success.  

PGIM, the asset-management arm of Prudential Financial, filed to launch 24 buffer ETFs this week. The ETFs significantly undercut the prices of similar funds from the competition like Innovator Capital Management and First Trust ETFs. BlackRock also launched cheap buffer ETFs earlier this year, showing the increasing price competition in this area of the ETF market. 

Investors waiting for the Securities and Exchange Commission’s decision on approving a spot bitcoin ETF are going to just have to keep waiting, as the regulator delayed its decision once again this week. 

Launches: 

Tuesday: 

• GGM Macro Alignment ETF (GGM) 
• YieldMax PYPL Option Income Strategy ETF (PYPY) 

Wednesday: 

• BAMB - Brookstone Intermediate Bond ETF (BAMB) 
• BAMG - Brookstone Growth Stock ETF (BAMG) 
• BAMU - Brookstone Ultra-Short Bond ETF (BAMU) 
• BAMV - Brookstone Value Stock ETF (BAMV) 
• DFAW - Dimensional World Equity ETF (DFAW) 
• DUSB - Dimensional Ultrashort Fixed Income ETF (DUSB) 

Thursday: 

• Avantis US Large Cap Equity ETF (AVLC) 
• BlackRock Advantage Large Cap Income ETF (BALI) 
• Brookstone Active ETF (BAMA) 
• Brookstone Dividend Stock ETF (BAMD) 
• Brookstone Opportunities ETF (BAMO) 
• Brookstone Yield ETF (BAMY) 
• Capital Group Core Balanced ETF (CGBL) 
• Capital Group Core Bond ETF (CGCB) 
• Capital Group Dividend Growers ETF (CGDG) 
• Capital Group International Equity ETF (CGIE) 
• Capital Group Short Duration Municipal Income ETF (CGSM) 
• iShares Transition-Enabling Metals ETF (TMET) 

Friday: JPMorgan Hedged Equity Laddered Overlay ETF (HELO) 

Closures: No closures this week. 

ETF Changes 

Monday: The following ETFs changed their expense ratios: 

• Goldman Sachs Community Municipal Bond ETF (GMUN) changed from 0.25% to 0.15% 
• Schwab U.S. TIPS ETF (SCHP) changed from 0.04% to 0.03% 
• Schwab High Yield Bond ETF (SCYB) changed from 0.10% to 0.03% 

Thursday: The following ETFs changed their expense ratios: 

• FormulaFolios Hedged Growth ETF (FFHG) changed from 1.13% to 1.04% 
• FormulaFolios Smart Growth ETF (FFSG) changed from 0.69% to 0.70% 
• FormulaFolios Tactical Growth ETF (FFTG) changed from 0.95% to 0.92% 
• FormulaFolios Tactical Income ETF (FFTI) change from 0.96% to 0.89% 
• AltShares Merger Arbitrage ETF (ARB) changed from 0.76% to 0.77% 
• AltShares Event-Driven ETF (EVNT) changed from 1.53% to 1.29% 

Friday: The KFA Value Line Dynamic Core Equity Index ETF (KVLE) changed its name to the KFA Value Line Dynamic Dividend Equity Index ETF. 

Contact Gabe Alpert at [email protected]