First Look ETF: Income, Corporate Arbitrage, and Growth and Value Investing

Market pulse from the NYSE

Ethan Hertzfeld of the NYSE opens with the latest launch data. More than 130 new ETFs launched in August, usually a quiet month. Year-to-date launches have passed 1,000, a pace almost 50% ahead of last year's record. Mutual fund to ETF conversions remain steady, 80% of launches are active, and more than 30% involve leverage.

iCapital m+ ETFs: MPIM and MPDY

Nicholas D. Parcharidis, CFA, Managing Director of iCapital m+ ETFs, outlines three investor challenges: the income gap, the limits of the 60/40 portfolio, and market timing. Both funds use a laddered autocall strategy to spread entry risk. MPIM targets high monthly income, potentially tax-advantaged as return of capital, with a memory feature that can recoup missed payments. MPDY aims for total return, pairing monthly income with 50% participation in S&P 500 upside.

Mast Investments: HXA and corporate arbitrage

Yung-Shin Kung, Chief Investment Officer of Mast Investments, presents a four-ETF lineup built on hedge fund-style return streams: adaptive equities, corporate arbitrage, managed futures and strategic commodities. The focus is the corporate arbitrage ETF (HXA), which trades announced merger spreads in North America and Western Europe. Expect roughly two dozen deal spreads, low correlation to equities and a cash yield supporting returns.

North Square: NSIV and NSIG

Mark Goodwin, CEO of North Square Investments, explains how the multi-boutique firm selects partners using its "four Ps": performance, process, people and pedigree. NSIV, sub-advised by C.S. McKee, is a contrarian value strategy designed to avoid value traps. NSIG targets durable earnings growth in secular themes such as AI, cloud, biotech, automation and mobility. Together, they can complement passive or core large-cap holdings.