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News , ULTR , short Duration , New York Life

Fed Rate Cut

By Bernie Thurston
July 31, 2019

NYL ultra short term

New York Life lists short duration ETF at perfectly wrong time

Insurance giant New York Life is listing an actively managed short duration broad-market bond ETF, set to hit exchanges the day the Fed will cut rates. The IQ Ultra Short Duration ETF (ULTR) will invest in a broad range of investment-grade debt to build a portfolio with a weighted average duration of 1 year or less. ULTR can invest in fixed and floating-rate, government or corporate debt, as well as other ETFs and derivatives.

 

Where foreign securities are bought, exposure will be hedged back into US dollars. The fund managers choose securities based on spread, duration, yield, liquidity, among other factors.

It joins a crowding field of short duration ETFs, which have become popular the past few years.

The fund charges 0.24%.

 

Ticker Fund Name AUM ($M) TER (% p.a.) Inception
USI Principal Ultra-Short Active Income ETF 12 0.18 2019
AWTM Aware Ultra-Short Duration Enhanced Income ETF 135 0.23 2019
GSST Goldman Sachs Access Ultra Short Bond ETF 15 0.2 2019
FUMB First Trust Ultra Short Duration Municipal ETF 20 0.35 2018
HSRT Hartford Short Duration ETF 110 0.32 2018
JPST JPMorgan Ultra-Short Income ETF 7,580 0.18 2017
GBIL Goldman Sachs Access Treasury 0-1 Year ETF 3,040 0.12 2016

 


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