Amplify to close YieldShares Senior Loan and Income ETF

Oct 1st, 2018 | By | Category: Alternatives / Multi-Asset

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Amplify ETFs has announced that the Amplify YieldShares Senior Loan and Income ETF (YESR US) is to close.

Amplify to close YieldShares Senior Loan and Income ETF

The last day of trading in the fund will be 4 October 2018.

Currently listed on NYSE Arca, the fund will have its last trading day on 4 October 2018.

The ETF tracks the Prime Senior Loan and Income CEF Index, maintained and sponsored by Prime Indexes.

The index provides exposure to US-listed, dividend-paying, closed-end funds (CEFs) that invest at least 80% of their assets in floating rate senior loans and other floating rate instruments.

CEFs are collective investment models based on issuing a fixed number of shares which are not redeemable from the fund. These listed investment vehicles often trade at a premium or discount to NAV as a result of market technicals and sentiment.

The fund has a punchy expense ratio of 2.15%, although this price tag is actually in line with similar ETFs due to the costs involved in acquiring the underlying CEFs. The $710m Invesco CEF Income Composite ETF (PCEF US), for example, comes with an expense ratio of 2.02%.

Following its de-listing from the exchange, the ETF will begin the process of liquidating its portfolio. Proceeds from the liquidation will be sent to shareholders around 19 October 2018.

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