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 |