lion) and Invesco (-$31.3 billion), whichmay explain why all four have beenlaunching ETFs.
Two of them launched ETFs for the
first time in 2020 — DFA and T. Rowe
Price. The T. Rowe Price and Invesco
ETFs launches in 2020 were non-
transparent funds that don’t disclose
their holdings on a daily basis, as most
BOND FUND ASSET FLOWS
Last year was not only a banner yearfor asset flows into ETFs but also forflows into bond funds — both ETFs andmutual funds.
Taxable and muni bond funds combined collected $496.8 billion in assetsfor the year while U.S., internationaland sector equity funds saw outflows of$248.1 billion, according to Morningstar.Taxable bond ETFs and mutual fundscollected a record $441 billion in flows,topping 2019’s $396 billion.
New York Life Affiliate Starts
Health Improvement ETF
An arm of a New York Life Insurance Company wants to help investors — through an ETF — put moneyinto improving people’s health.
IndexIQ, part of New York LifeInvestment Management LLC,is joining with the American HeartAssociation to introduce the IQ HealthyHearts ETF, which trades on the NewYork Stock Exchange.
New York Life Investments sees thefund as an example of an investmentarrangement based on an effort to takeenvironmental, social and governancecriteria into account.
The HART ETF will invest in compa-
nies that fit with AHA objectives, such
as those that provide:
• Diagnosis or treatment of cardio-
• Manufacturing and distribution ofhealthy food or wellness products;
• Services allowing people to accessinformation about their health andthereby make better decisions abouttheir lifestyles;
• Solutions for people to track their fitness and engage in a healthy lifestyle.
According to a fund fact sheet, asof Jan. 14 the top holdings were EliLilly and Company, Apple Inc., Johnson& Johnson, NIKE Inc. Class B, NovoNordisk A/S Class B, Novartis AG, AbbottLaboratories, Medtronic PLC, Merck &Co. Inc. and Bristol-Myers-Squibb Co.
Also, the new HART fund will makeregular contributions to the AHA’sSocial Impact Find, according to NewYork Life Investments.
“The Social Impact Fund supports
entrepreneurs, small businesses and
organizations in under-served commu-
nities whose programs address econom-
ic and social conditions that can affect
a person’s health,” the AHA says on its
website. “These issues include social
cohesion, employment, education, hous-
ing and food access.”
The AHA Social Impact Fund was
formed in 2019 and has given $35 mil-
lion to 39 organizations, it says.
In theory, if the HART ETF concept
works, the fund also could lead to extra
returns for New York Life Insurance
Company, by improving the health and
lifespan of people who have the com-
pany’s life insurance.
Other companies with healthimprovement-themed ETFs includeMirae Assets, which offers the Health &Wellness Thematic ETF and MiddlefieldGroup, which offers the Health &Wellness ETF. Both the BFIT fund andthe HWF fund were launched in 2016.
New York Life Investments says ithopes the new HART ETF will be partof a family of IndexIQ “Dual ImpactESG ETFs.” The new impact funds willgive investors a way to invest in fundsthat advance social causes and important social initiatives, New York LifeInvestments says.
IndexIQ accounts for about $4.2 bil-
lion of New York Life Investments’ $662
billion in assets under management.
The unit specializes in creating new
types of ETFs. —Allison Bell
Gabelli to Launch Love Our
Planet & People ETF
In a similar vein, Gabelli plans to launch the Love Our Planet &People ETF, which is the first of ninePrecidian ActiveShares ETFs that arepart of its Gabelli ETFs Trust. It isexpected to list on the NYSE Arcathis quarter and will have a 0.90%expense ratio.
“LOPP will emphasize the envi-
ronmental aspect” of ESG “placing
an emphasis on investing in public-
ly traded companies with a focus on
sustainability,” the firm explains on
its website. “The fund combines a
research intensive process with social
screens and a holistic ESG overlay to
deliver returns in a socially responsive
manner,” it states. —Jeff Berman