Pacific Life is known for its logo of a whale leaping out of the water, but the insurance and financial services company hasn’t made a big leap into the world of exchange-traded funds.
On Thursday, the company’s Pacific Global ETFs unit rolled out two actively managed income-focused products that double its existing lineup of funds employing actively managed, income-oriented strategies.
Regarding the new funds, the Pacific Global International Equity Income ETF (IDY) is a factor-based product targeting international large-cap stocks in developed markets that are expected to deliver attractive dividend yields, capital appreciation and diversification. The fund’s sub-advisor, Cadence Capital Management, will emphasize companies with a history of paying and/or growing dividends.
The other new product, the Pacific Global Focused High Yield ETF (FJNK), invests in roughly 60 to 90 high-yield debt securities and seeks to outperform the Bloomberg Barclays US High Yield Very Liquid Index. This fund is sub-advised by Pacific Asset Management.
Both funds charge an expense ratio of 0.39%.
Cadence Capital Management, a factor-based global equity manager, also sub-advises on the Pacific Global US Equity Income ETF (USDY), a factor-based product that launched in February and invests in large-cap stocks deemed to be of high quality and which are expected to provide above average and growing sources of sustainable income. It sports an SEC yield of 3.1% and carries an expense ratio of 0.29%.
These three products were introduced four years after the debut of the Pacific Global Senior Loan ETF (FLRT), which invests mainly in floating-rate loans of non-investment-grade companies. Its SEC yield is north of 3% and its expense ratio is 0.68%.