Janus Henderson to close two ETFs

Mar 6th, 2018 | By | Category: Equities

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Janus Henderson has announced plans to close and liquidate two of its NYSE-listed equity ETFs: the Janus Velocity Tail Risk Hedged Large Cap ETF (TRSK US) and Janus Velocity Volatility Hedged Large Cap ETF (SPXH US).

Janus Henderson to close two ETFs

Janus Henderson to close two ETFs

TRSK tracks the VelocityShares Tail Risk Hedged Large Cap Index, while SPHX tracks the VelocityShares Volatility Hedged Large Cap Index.

Both indices were created in-house by VelocityShares prior to its acquisition by Janus in 2014.

Each index consists of a 85% exposure to US large-cap equities (S&P 500) with the remaining 15% exposure to a volatility component designed to efficiently hedge against market declines through exposure to VIX futures.

The volatility component for SPHX is designed to protect against general stock declines, while the volatility component for TRSK is designed to only protect against more extreme plunges in equity markets.

According to Janus Henderson, the ETFs are being closed following a review of the firm’s exchange-traded product line-up.

The funds will no longer accept creation unit orders but will continue to accept redemption orders from authorised participants until 20 March 2018. Trading will stop before the market opens on 21 March 2018.

Proceeds from the liquidation are currently planned to be distributed on or about 27 March 2018.

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