Page 17 - Investment Advisor March 2021

lion) and Invesco (-$31.3 billion), which their holdings on a daily basis, as most Taxable and muni bond funds com-
may explain why all four have been ETFs do. bined collected $496.8 billion in assets
launching ETFs. for the year while U.S., international
Two of them launched ETFs for the BOND FUND ASSET FLOWS and sector equity funds saw outflows of
first time in 2020 — DFA and T. Rowe Last year was not only a banner year $248.1 billion, according to Morningstar.
Price. The T. Rowe Price and Invesco for asset flows into ETFs but also for Taxable bond ETFs and mutual funds
ETFs launches in 2020 were non- flows into bond funds — both ETFs and collected a record $441 billion in flows,
transparent funds that don’t disclose mutual funds. topping 2019’s $396 billion.

New York Life Affiliate Starts Company, by improving the health and

Health Improvement ETF lifespan of people who have the com-
pany’s life insurance.
Other companies with health
n arm of a New York Life Insurance Also, the new HART fund will make improvement-themed ETFs include
A Company wants to help inves- regular contributions to the AHA’s Mirae Assets, which offers the Health &
tors — through an ETF — put money Social Impact Find, according to New Wellness Thematic ETF and Middlefield
into improving people’s health. York Life Investments. Group, which offers the Health &
IndexIQ, part of New York Life “The Social Impact Fund supports Wellness ETF. Both the BFIT fund and
Investment Management LLC, entrepreneurs, small businesses and the HWF fund were launched in 2016.
is joining with the American Heart organizations in under-served commu- New York Life Investments says it
Association to introduce the IQ Healthy nities whose programs address econom- hopes the new HART ETF will be part
Hearts ETF, which trades on the New ic and social conditions that can affect of a family of IndexIQ “Dual Impact
York Stock Exchange. a person’s health,” the AHA says on its ESG ETFs.” The new impact funds will
New York Life Investments sees the website. “These issues include social give investors a way to invest in funds
fund as an example of an investment cohesion, employment, education, hous- that advance social causes and impor-
arrangement based on an effort to take ing and food access.” tant social initiatives, New York Life
environmental, social and governance The AHA Social Impact Fund was Investments says.
criteria into account. formed in 2019 and has given $35 mil- IndexIQ accounts for about $4.2 bil-
The HART ETF will invest in compa- lion to 39 organizations, it says. lion of New York Life Investments’ $662
nies that fit with AHA objectives, such In theory, if the HART ETF concept billion in assets under management.
as those that provide: works, the fund also could lead to extra The unit specializes in creating new
• Diagnosis or treatment of cardio- returns for New York Life Insurance types of ETFs. —Allison Bell
vascular diseases;
• Manufacturing and distribution of
healthy food or wellness products;
• Services allowing people to access Gabelli to Launch Love Our
information about their health and
thereby make better decisions about Planet & People ETF
their lifestyles;
• Solutions for people to track their fit- n a similar vein, Gabelli plans to ronmental aspect” of ESG “placing
ness and engage in a healthy lifestyle. I launch the Love Our Planet & an emphasis on investing in public-
Maxx-Studio/Shutterstock of Jan. 14 the top holdings were Eli Precidian ActiveShares ETFs that are sustainability,” the firm explains on
People ETF, which is the first of nine
ly traded companies with a focus on
According to a fund fact sheet, as
part of its Gabelli ETFs Trust. It is
its website. “The fund combines a
Lilly and Company, Apple Inc., Johnson
& Johnson, NIKE Inc. Class B, Novo
research intensive process with social
expected to list on the NYSE Arca
screens and a holistic ESG overlay to
this quarter and will have a 0.90%
Nordisk A/S Class B, Novartis AG, Abbott
deliver returns in a socially responsive
Laboratories, Medtronic PLC, Merck &
expense ratio.
Co. Inc. and Bristol-Myers-Squibb Co.
manner,” it states. —Jeff Berman
“LOPP will emphasize the envi-
MARCH 2021 INVESTMENT ADVISOR 15