MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, June 13, 2023 A Thematic Shop Plugs In a 5-Stock ETF The folks at a New York City-based thematic asset manager are expanding their lineup to five ETFs with a new fund that invests in just five stocks.
EVXX's inception date was yesterday, and it comes with an expense ratio of 68 basis points. Defiance ETFs, LLC serves as EVXX's investment advisor, and Vident Investment Advisory, LLC (VIA, which has partnered with Defiance before) serves as subadvisor. The new fund's PM team includes Ryan Dofflemeyer, senior portfolio manager at VIA, and Austin Wen, PM at VIA. The Defiance team designed EVXX to track the Solactive Pure US Electric Vehicle Index (aka the Pure EV Index). That index, in turn, tracks the stocks of the five largest electric vehicle manufacturers by market cap. In 2022, several firms debuted thematic ETFs with connections to the electric vehicle industry. Yet the Defiance team describes EVXX as "the first ETF in the electric vehicle ('EV') sector to target pure exposure to EV manufacturers." "We continue to hear from investors that there is demand for a pure EV ETF, which captures this emerging megatrend without diluting the purity of the product with traditional semiconductor and auto stocks, which have little or no EV sales," Jablonski states. "Defiance is thrilled to be bringing EVXX to market to fill that void." EVXX's other service providers include: Cohen & Company, Ltd. as independent accounting firm; Foreside Fund Services, LLC as distributor; Morgan, Lewis & Bockius LLP as counsel; U.S. Bancorp Fund Services, LLC (dba U.S. Bank Global Fund Services) as administrator, index receipt agent, and transfer agent; and U.S. Bank National Association as custodian. Printed from: MFWire.com/story.asp?s=66088 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
