Autorisation des ETF actifs sur le marché français en cours !

Mirlipon

Le seul intérêt que je leur vois, c’est pour les contribuables moins imposés sur les distributions que sur les plus-values car ils convertissent une partie de la hausse en distribution. Mais même là, il me semble pertinent de vérifier que la perte d’efficacité n’est pas supérieure au gain fiscal sur le long terme

En plein dans le mille !

Je mets ces nouveaux produits en watchlist mais je n’ai pas encore acheté ces ETFS si recents.
Le rendement (pas encore affiche sur IB) est à verifier comparé a Global X Nasdaq et S&P500 que je possède en diverses devises (mais IB n’a pas encore corrigé ses grosses erreurs de rendement affiché : au debut ils reconnaissaient la distribution mensuelle - maintenant rien ne correspond aux faits )

La remontée des bonds continuent - mon gain de capital sur la poche se rapproche du top …
Pas étonnant avec un USD a 106.80

Aux USA Schwab sort un nouvel ETF actif obligataire

The new active Core Bond ETF will seek to provide total return while generating income through U.S. debt securities, including corporate bonds, municipal bonds, and Treasuries, according to the SEC filing.

“Active ETFs have enjoyed a tremendous year of flows, and that is especially true when it comes to bond funds,” he said. “About 36% of bond ETF flows streamed into active products for the year to date through October, compared with 24% for active stock ETFs.”

What’s remarkable is that players like Vanguard and Schwab are now entering the space with [b]rock-bottom fees, and investors are getting active management from highly respected issuers at basically the cost of index funds,” he said. “The narrative has always been that it’s much easier to generate alpha in fixed income compared to equities, and with an uncertain rate environment moving forward, it makes sense that investors and advisors might want an active manager helping to navigate the bond market.”

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https://www.etf.com/sections/news/schwa … d-bond-etf

Ce matin … finalement des pros expriment leurs reticences faces aux nouveaux etfs actifs de JPM Morgan

Fund selectors divided on JP Morgan AM US premium income ETFs
Investors split on trading off returns against downside protection and income
Lauren Gibbons
13 Nov 2024

https://www.etfstream.com/articles/fund … ncome-etfs

Fund selectors are divided on the value of these strategies. Some argue that similar results can be achieved by adjusting allocations across core asset classes.

Other more income-focused, risk-averse investors appreciate their merits, especially given the sustained market volatility this year.

Each ETF uses an options strategy managed by JPMAM’s US Core team, led by Hamilton Reiner. The team generates income by selling weekly index options on JEPI and JEPQ’s equity portfolios, with monthly distributions to investors from option premiums and dividends.

The yields are generous, with JEPI offering an expected yield of 7–9% a year, while JEPQ sits slightly higher with an expected yield of 9–11%. (comme les ETFs de Global X )

Active options-based ETFs have remained in the headlines through 2024, following the JPMAM launch of the JPMorgan Global Equity Premium Income Active UCITS ETF (JEPG) launched last year.

Missing US tech gains …

But lower volatility makes trade-off worthwhile

Conversely, Nathan Sweeney, CIO of multi-asset of Marlborough, said many investors see this as an acceptable trade-off given the consistent yield, which ranges between 7-11% for the two ETFs. “In the long term, these funds can perform competitively by capturing modest equity gains while cushioning downside risks.”

“This type of approach works well for income-focused or risk-averse investors, particularly those who want exposure to the US equity market but prefer a strategy that smooths out returns,” he added.

The Final Word

“Given the growing awareness of alternative yield-generation methods and a continued push for diversified income, it is likely that we will see increasing adoption of covered call strategies in Europe, especially among those who prioritise consistent cash flow over full upside capture,” he concluded.

Exactement… comme disait Mirlipon … si on est en phase de consommation… surtout si on est taxable sur les gains mais pas sur les revenus du capital ca fait du sens d’voir une distribution mensuelle … plutôt qu’un etf capitalisant dont le gain serait taxable a 28%

Chacun doit trouver chaussure a son pied !

Dernière modification par sissi (13/11/2024 13h34)

Je trouve que ce nouvel ETF va à l’encontre de ce que peut représenter ce genre de produit pour une partie des investisseurs, notamment dans la diversification. Que cette dernière concerne le nombre de positions ou bien dans le type de secteur.

En ce qui me concerne quand a une diversification réduite en nombre, j’ai une préférence pour l’ETF Global Brand de chez L&G qui reproduit l’indice Solactive BrandFinance Global Brands offrant une exposition dans un portefeuille diversifié des marques les plus précieuses au monde.