A New England startup is rolling out its second ETF.
| Sheila Peck Pettee|
Hoya Capital Real Estate, LLC
CEO, Chief Compliacne Officer
On September 21, the Hoya Capital Real Estate, LLC
] team launched
the Hoya Capital High Dividend Yield ETF
(RIET on the NYSE Arca). The passive fund comes with an expense ratio of 25 basis points (thanks in part to a 25-bps fee waiver by Hoya that will continue at least through September 30, 2022).
The new fund is intended to track the Hoya Capital Dividend Yield Index
and pay monthly distributions to shareholders. Penserra Capital Management, LLC
is the fund's subadvisor, and the fund is PMed by Anand Desai
(associate at Penserra), Dustin Lewellyn
(managing director of Penserra), and Ernesto Tong
(managing director of Penserra). Hoya, based in Rowayton, in Norwalk, Connecicut, serves as the fund's advisor.
Other services providers on the new fund include: Cohen & Company, Ltd.
as the independent accounting firm; Hoya Capital Index Innovations as index provider; Morgan Lewis & Bockius LLP
as counsel; Quasar Distributors, LLC
as distributor; U.S. Bancorp Fund Services, LLC
as administrator, index receipt agent, and transfer agent; and U.S. Bank National Association as custodian. (Cohen & Steers, Morgan Lewis & Bockius, Penserra, and Quasar all were brought when Hoya launched its first ETF in 2019.
, director of research at Hoya Capital Real Estate, describes
the new ETF as a complement to the firm's first, which launched
two years ago. Sheila Pettee
, CEO of Hoya Capital, adds that the new ETF "fills a significant and immediate investor need" among those "seeking income in a simple and cost-effective package."
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