Guggenheim Launches Total Return Bond ETF
Chicago-based Guggenheim Investments has introduced the Guggenheim Total Return Bond ETF, which will trade on the New York Stock Exchange under the tracker GTO.
The actively managed ETF invests primarily in investment-grade fixed-income securities across multiple sectors.
GTO is the second actively managed ETF launched by Guggenheim.
Fund managers will use quantitative and qualitative processes to identify market opportunities and manage risk, screening investments for duration, relative sector value, credit analysis, information premiums and best-trade execution. Both top-down macro and bottom-up fundamental analyses are used.
The fund will have ongoing management fees of 50 basis points per annum.
Direxion Rolls Out Lightly Leveraged Products
Milwaukee-based Direxion has announced two new lightly leveraged mutual funds.
The Direxion Monthly Nasdaq-100 Bull 1.25X Fund (DXNLX) seeks monthly investment results of 125% of the performance of the Nasdaq-100 index.