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Rating:WisdomTree Builds 2 Complements to a $17B Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 18, 2024

WisdomTree Builds 2 Complements to a $17B Fund

Reported by Neil Anderson, Managing Editor

The team at a $105.561-billion-AUM (as of Friday), publicly traded asset manager in Gotham are rolling out a pair of new Treasury-focused ETFs.

On Thursday, Kevin Flanagan, head of fixed income strategy at WisdomTree, Inc. [profile], unveiled the launch of the New York City-based firm's WisdomTree 1-3 Year Laddered Treasury Fund (USSH on the Nasdaq) and the WisdomTree 7-10 Year Laddered Treasury Fund (USIN). Both new funds are series of WisdomTree Trust.

The WisdomTree team describes USIN and USSH as complements to the WisdomTree Floating Rate Treasury Fund (USFR), which debuted back in 2014 and now has about $17.5 billion in AUM. Like USFR, both USSH and USIN come with expense ratios of 15 basis points. The new funds' inception was March 14, 2024 (last Thursday), and by the next day USIN had $494,000 in AUM and USSH had $499,000.

WisdomTree Asset Management Inc. serves as investment advisor to USSH and USIN, Mellon Investments Corporation serves as subadvisor, and Bloomberg Index Services Limited serves index provider. USSH is designed to track the Bloomberg US Treasury 1-3 Year Laddered Index, while USIN is designed to track the Bloomberg US Treasury 7-10 year Laddered Index.

Both USIN and USSH are PMed by Mellon's fixed income index strategies portfolio management team. More specifically, the new funds are powered by four Mellon PMs: Gregg Lee, senior portfolio manager; William Newton, vice president and PM; David Nieman as VP and PM; and Nancy Rogers as managing director and head of fixed income portfolio management at Mellon.

The launch of USSH and USIN means that WisdomTree now offers "even more diverse options to investors for different rate settings." The funds are designed to ladder exposure to the newest Treasuries issued in their namesake ranges.

"These Funds are straightforward, utilizing a time-tested fixed-income type of strategy," Flanagan states. "In an environment where fixed income yields have returned to more 'normal' levels, investors can now take advantage of this new rate regime by obtaining risk-mitigated yield in Treasuries."

USIN and USSH's other service providers include: Ernst & Young LLP as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Morgan, Lewis & Bockius LLP as counsel; and State Street Bank and Trust Company as administrator, custodian, dividend disbursing agent, securities lending agent, and transfer agent. 

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