PWD IntelligenceThe ETF PipelineWeek of Nov 9
Launches, the week
4
down 8Change vs the prior week
Source for Launches, the week
Source: SEC EDGAR effectiveness filings (485BPOS) and issuer fund records (inception date); SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4) captured from EDGAR full-text search; Fund status records (delisting date) maintained from SEC and exchange listing dataETF launches fall to four in week to Nov. 10 from 12
The four Tidal trusts accounted for 95 of 243 launches over the eight weeks to Nov. 10, according to SEC filings and issuer data.
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By PWD Intelligence6 min read
Registration filings
58
down 43Change vs the prior week
Source for Registration filings
Source: SEC EDGAR effectiveness filings (485BPOS) and issuer fund records (inception date); SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4) captured from EDGAR full-text search; Fund status records (delisting date) maintained from SEC and exchange listing dataNew-fund filings (485APOS)
31
Source for New-fund filings (485APOS)
Source: SEC EDGAR effectiveness filings (485BPOS) and issuer fund records (inception date); SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4) captured from EDGAR full-text search; Fund status records (delisting date) maintained from SEC and exchange listing dataClosures
0
Source for Closures
Source: SEC EDGAR effectiveness filings (485BPOS) and issuer fund records (inception date); SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4) captured from EDGAR full-text search; Fund status records (delisting date) maintained from SEC and exchange listing dataActive share of launches, 8 weeks
8.6%
243 launches in eight weeks
Source for Active share of launches, 8 weeks
Source: SEC EDGAR effectiveness filings (485BPOS) and issuer fund records (inception date); SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4) captured from EDGAR full-text search; Fund status records (delisting date) maintained from SEC and exchange listing data; style Classified from each fund's registered name by fixed published rulesWhat matters
- Only four ETFs began trading in the week to Nov. 10, down from 12 the week before, according to SEC effectiveness filings (485BPOS) and issuer fund records.
- Eight of the prior week's 12 launches came from BNY Mellon ETF Trust II, all with Nov. 2 inception dates, according to SEC effectiveness filings and issuer fund records.
- GraniteShares ETF Trust led registrants over eight weeks with 25 filings, including eight 485APOS new-fund registrations or amendments dated Nov. 9, according to SEC EDGAR filings.
Chart 1
ETF registration filings by week
Weeks ending on the date shown, by form
- 485APOS new and amended
- 485BPOS effective
- N-1A new trusts
Show as table
| Label | 485APOS new and amended | 485BPOS effective | N-1A new trusts | Total |
|---|---|---|---|---|
| Sep 22 | 36 | 25 | 4 | 65 |
| Sep 29 | 54 | 89 | 2 | 145 |
| Oct 6 | 35 | 24 | 1 | 60 |
| Oct 13 | 20 | 18 | 3 | 41 |
| Oct 20 | 27 | 30 | 2 | 59 |
| Oct 27 | 17 | 81 | 0 | 98 |
| Nov 3 | 30 | 69 | 2 | 101 |
| Nov 10 | 31 | 22 | 2 | 55 |
Four launches, the fewest in eight weeks
Four ETFs began trading in the week to Nov. 10, down from 12 the week before and the fewest in eight weeks, according to SEC effectiveness filings (485BPOS) and issuer data.
Tidal Trust II launched three of the week's four funds: ANTC, ANTQ and YANT, all with Nov. 6 inception dates. Nomura ETF Trust II's DFIX launched on Nov. 4. All four are classed as index funds in the Other category, which is assigned from each fund's registered name.
Fund selectors screening the week's additions have four index funds identified only by ticker and no expense ratio to compare. Fees and underlying exposure will have to come from each fund's prospectus.
Eight of the prior week's 12 launches came from BNY Mellon ETF Trust II, all dated Nov. 2. Without that batch, the week to Nov. 3 would also have counted four.
Weekly launches from Sep. 22 to Nov. 10 ran 49, 30, 32, 45, 30, 41, 12 and 4. The first six weeks all fell between 30 and 49. Two light weeks are too short a run to call a slowdown.
SEC and exchange listing data show no ETF closures in the week to Nov. 10. The eight-week window had five, four in the week of Sep. 22 and one in the week of Sep. 29.
Chart 2
Launches and closures by week
- Launches
- Closures
Show as table
| Label | Launches | Closures | Total |
|---|---|---|---|
| Sep 22 | 49 | 4 | 53 |
| Sep 29 | 30 | 1 | 31 |
| Oct 6 | 32 | 0 | 32 |
| Oct 13 | 45 | 0 | 45 |
| Oct 20 | 30 | 0 | 30 |
| Oct 27 | 41 | 0 | 41 |
| Nov 3 | 12 | 0 | 12 |
| Nov 10 | 4 | 0 | 4 |
Table 1
ETF launches, week to Nov 10
| Ticker↕ | Fund↕ | Issuer↕ | Launched↕ | Expense ratio↕ | Category↕ | Style↕ |
|---|---|---|---|---|---|---|
| ANTC | ANTC | Tidal Trust II | — | Other | Index | |
| ANTQ | ANTQ | Tidal Trust II | — | Other | Index | |
| YANT | YANT | Tidal Trust II | — | Other | Index | |
| DFIX | DFIX | Nomura ETF Trust II | — | Other | Index |
1–4 of 4
Source: SEC EDGAR effectiveness filings (485BPOS) and issuer fund records (inception date)
GraniteShares leads filers with 25 filings in eight weeks
GraniteShares ETF Trust made the most filings over the eight weeks to Nov. 10, with 25, according to SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4). EA Series Trust followed with 21 and Tidal Trust V with 15. Eight of GraniteShares' filings were 485APOS new-fund registrations or amendments dated Nov. 9.
The top filers were not the top launchers. Tidal Trust V ranked third by filings but first by launches, with 41. Neither GraniteShares ETF Trust nor EA Series Trust ranked among the eight issuers with the most launches.
Total filings fell to 58 in the week to Nov. 10 from 101 the week before. New-fund registrations and amendments held steady at 31, against 30. Effectiveness filings fell to 22, from 69 the week before and 81 the week before that. The week to Nov. 3 had 69 effectiveness filings and 12 launches, so filing counts are a loose guide to launch counts.
Chart 3
Most active registrants, eight weeks
- GraniteShares ETF Trust25
- EA Series Trust21
- Tidal Trust V15
- Themes ETF Trust14
- Tidal Trust II13
- ETF Opportunities Trust12
- ETF Series Solutions12
- Roundhill ETF Trust8
Show as table
| Item | Value |
|---|---|
| GraniteShares ETF Trust | 25 |
| EA Series Trust | 21 |
| Tidal Trust V | 15 |
| Themes ETF Trust | 14 |
| Tidal Trust II | 13 |
| ETF Opportunities Trust | 12 |
| ETF Series Solutions | 12 |
| Roundhill ETF Trust | 8 |
Table 2
Registration filings, week to Nov 10
| Registrant↓ | Form↕ | Filed↕ |
|---|---|---|
| VIRTUS ALTERNATIVE SOLUTIONS TRUST (CIK 0001589756) | 485BPOS | |
| VANGUARD MALVERN FUNDS (CIK 0000836906) | 485BPOS | |
| Two Roads Shared Trust (CIK 0001552947) | 485BPOS | |
| TRUST FOR PROFESSIONAL MANAGERS (CIK 0001141819) | 485APOS | |
| Tidal Trust IV (CIK 0002043390) | 485BPOS | |
| Themes ETF Trust (CIK 0001976322) | 485BPOS | |
| T. Rowe Price Exchange-Traded Funds, Inc. (CIK 0001795351) | 485APOS | |
| STERLING CAPITAL FUNDS (CIK 0000889284) | 485BPOS | |
| Starboard Investment Trust (CIK 0001464413) | 485APOS | |
| PUTNAM SUSTAINABLE LEADERS FUND (CIK 0000865177) | 485APOS | |
| Nushares ETF Trust (CIK 0001635073) | 485BPOS | |
| Northern Lights Fund Trust IV (CIK 0001644419) | 485APOS | |
| Managed Portfolio Series (CIK 0001511699) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| GraniteShares ETF Trust (CIK 0001689873) | 485APOS | |
| Evergreen Fixed Income Fund (CIK 0002153997) | 40-APP | |
| ETF Series Solutions (CIK 0001540305) | 485APOS | |
| EA Series Trust (CIK 0001592900) | 485BPOS | |
| BlackRock ETF Trust (CIK 0001761055) | 485BPOS |
1–25 of 25
Source: SEC EDGAR filings (485APOS, 485BPOS, N-1A, 19b-4)
Tidal trusts account for 95 of 243 launches
Tidal Trust V led launches over the eight weeks with 41, followed by Investment Managers Series Trust II with 33, according to SEC effectiveness filings and issuer data. Tidal Trust I (21), Tidal Trust II (17) and Tidal Trust IV (16) came next, giving the four Tidal trusts 95 of the 243 launches. Tidal Trust II also filed 13 times in the window, according to SEC EDGAR filings.
The Other category took 168 of the 243 launches, about 69%. Among named categories, dividend and income had 14, international and emerging 10, municipal bonds nine and option income nine. Sector and thematic had six, US large cap and broad market five, and broad bonds four.
Because category is assigned from a fund's registered name, ticker-only names such as this week's four likely land in Other. The bucket should not be read as a single strategy.
About 8.6% of the 243 launches were active funds, and none were semi-transparent, with style also classified from each fund's registered name.
Chart 4
Launches by category, eight weeks
- Other168
- Dividend & income14
- International & emerging10
- Municipal bonds9
- Option income9
- Sector & thematic6
- US large cap & broad market5
- Broad bonds4
Show as table
| Item | Value |
|---|---|
| Other | 168 |
| Dividend & income | 14 |
| International & emerging | 10 |
| Municipal bonds | 9 |
| Option income | 9 |
| Sector & thematic | 6 |
| US large cap & broad market | 5 |
| Broad bonds | 4 |
Chart 5
Launches by issuer, eight weeks
- Tidal Trust V41
- Investment Managers Series Trust II33
- Tidal Trust I21
- Tidal Trust II17
- Tidal Trust IV16
- Managed Portfolio Series14
- Kurv ETF Trust11
- BNY Mellon ETF Trust II8
Show as table
| Item | Value |
|---|---|
| Tidal Trust V | 41 |
| Investment Managers Series Trust II | 33 |
| Tidal Trust I | 21 |
| Tidal Trust II | 17 |
| Tidal Trust IV | 16 |
| Managed Portfolio Series | 14 |
| Kurv ETF Trust | 11 |
| BNY Mellon ETF Trust II | 8 |
PWD Intelligence
The ETF Pipeline
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