Industry Updates

Actively managed dividends; Canadian blockchain

David Tuckwell

Today's new ETF listings from around the world.


Horizons lists new actively managed dividend ETF, with options strategy

Horizons ETFs is teaming up with Cadence Capital to list a new actively managed dividends ETF that hedges downside risk by buying and selling options. The Horizons Cadence Hedged US Dividend Yield ETF will invest in Russell 1000 large caps chosen by Cadence. Companies will be chosen based on "strong balance sheets, predictable earnings and cash flow growth, and a history of dividend growth," the prospectus says.

Companies will be weighted based on market capitalization, where the maximum weightings are capped at 1.25%. However, and in an unusual twist, the weightings caps is adjustable - meaning that the maximum position size and cap does not have to be adhered to as it does in more strictly rules-based products.

USDY will typically hold 200-350 securities and will be rebalanced quarterly.

Options strategy USDY can buy and sell call/put options on an index which is the most correlated to the fund's equity holdings. The options overlay seeks to provide downside risk protection and potentially another stream of revenue. The options overlay will be actively managed by Horizons and "will adapt to both changing market environments and shifts in the underlying equity holdings of the Fund," the prospectus says.


Yet another blockchain ETF

Another blockchain ETF is being listed in North America, making it the forth blockchain ETF listed on that continent the past five weeks. The Blockchain Technologies ETF (HBLK), listed by Harvest Portfolios, will track the performance of the Harvest Blockchain Technologies Index, an index provided by the issuer. As with the other blockchain ETFs, HBLK will invest in companies exposed, directly or indirectly, to the development and implementation of blockchain and distributed ledger technologies.


iShares launches distributing versions of its smart beta line

iShares is listing distributing versions of its global smart beta ETF line. They are:

  • iShares Edge MSCI USA Size Factor UCITS ETF IUSD

  • iShares Edge MSCI Europe Quality Factor UCITS ETF IEQD

  • iShares Edge MSCI USA Quality Factor UCITS ETF IUQD

  • iShares Edge MSCI USA Value Factor UCITS ETF IUVD

  • iShares Edge MSCI USA Momentum Factor UCITS ETF IUMD

  • iShares Edge MSCI Europe Value Factor UCITS ETF IEDL

  • iShares Edge MSCI Europe Momentum Factor UCITS ETF IEMD

  • iShares Edge MSCI Europe Minimum Volatility UCITS ETF MVED

  • iShares Edge MSCI Europe Multifactor UCITS ETF IFSD

  • iShares Edge MSCI USA Multifactor UCITS ETF UFSD

  • iShares Edge S&P 500 Minimum Volatility UCITS ETF SPMD

  • iShares Edge MSCI World Value Factor UCITS ETF IWVU

… and in Switzerland

iShares is also cross-listing two of its successful global ETFs into Switzerland in Swiss Francs. They are:

  • iShares Edge MSCI World Minimum Volatility UCITS ETF MVSH

  • iShares Global Aggregate Bond UCITS ETF AGGS

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