Our weekly roundup of new fund launches.
O'Shares unveils a new small-cap ETF
O'Shares ETF Investments announced the launch of a U.S. small-cap ETF, the firm's sixth offering listed.
The O'Shares FTSE US Small Cap Quality Dividend ETF (OUSM), which has a 0.48% expense ratio, focuses on dividend-paying companies.
The portfolio is comprised of 339 U.S. small-cap dividend stocks, with an average market cap of $4 billion. Stocks in the portfolio were selected based on an index developed for O'Shares ETF Investments by FTSE Russell.
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Kevin O'Leary, chairman of O'Shares ETF Investments, believes small cap's full potential has been unrealized. "Most people don't realize that $1,000 invested in U.S. small caps 15 years ago would potentially been worth $3,385 today, compared to only $2,642 for U.S. large caps and now," he said.
The fund manager reported $277 billion in new money to its U.S. mutual funds and ETFs last year, while Fidelity and Franklin reported some of the largest outflows.
CBOE Vest introduces a leveraged large cap fund
CBOE Vest announced its latest offering, the S&P 500 Enhanced Growth Strategy Fund (ENGIX).
Using options, the fund seeks to deliver 2x upside performance on the S&P 500 up to a variable cap, while providing one-to-one exposure to losses, according to CBOE.
The fund, which has a $100,000 minimum investment requirement and a 1.26% expense ratio, is the third mutual fund launched by CBOE Vest. Steve Neamtz, senior managing director at CBOE Vest, said the strategy is positioned as, "The new normal of lower-than-expected global economic growth."
