Morgan Stanley Investment Management, which launched its first ETFs less than a year ago, is adding five actively managed ETFs to its platform, the firm announced.

The new products span asset classes and are designed to satisfy different investor goals, Morgan Stanley Investment Management said. The new ETFs are the following:

• Parametric Equity Premium Income ETF (PAPI)
• Parametric Hedged Equity ETF (PHEQ)
• Eaton Vance High Yield ETF (EVHY)
• Eaton Vance Intermediate Municipal Income ETF (EVIM)
• Eaton Vance Ultra-Short Income ETF (EVSB)

PAPI uses an alternative income strategy from Parametric that seeks to deliver consistent and sustainable monthly income while participating in most market appreciation. By combining a diversified, dividend-focused equity portfolio with selling call options on the SPDR S&P 500 ETF Trust, the strategy is expected to generate additional yield in a tax efficient manner, the firm said.

PHEQ combines a U.S. large-cap equity portfolio with option overlay hedges that are designed to provide investors with capital appreciation while incorporating downside protection. The option overlay component, which seeks to reduce portfolio volatility, is a capability that Parametric has employed primarily for institutional clients in the past and will now be accessible to a broader range of investors through this ETF vehicle, Morgan Stanley Investment Management said.

The Eaton Vance fixed-income strategies are designed to provide alpha generation across the credit spectrum. EVHY focuses on high-yield securities. EVIM is made up of municipal obligations, where the interest is exempt from regular federal income tax. EVSB includes investment grade, U.S. dollar-denominated debt securities.

“Following the successful launch of Morgan Stanley Investment Management’s ETF platform earlier this year, the new additions to the platform further capitalize on the deep experience of our investment teams and client-focused approach by delivering actively-managed strategies through the in-demand ETF structure,” Anthony Rochte, global head of ETFs at the firm, said in a statement.

“Morgan Stanley Investment Management’s strategic vision for the ETF platform is to offer products across our businesses, asset classes, jurisdictions, and brands that address clients’ needs, and the Parametric and Eaton Vance strategies represent a significant step towards the realization of that goal,” he added.

The firm launched its ETF platform in February with six Calvert ETFs, which total about $400 million in assets under management as of Sept. 30.