BNY Mellon has announced future plans to launch a new ETF focused on innovation companies. The BNY Mellon Innovators ETF plans to offer long-term capital growth looking to follow a portfolio of “leading-edge” innovation driven companies and products and services that can alter existing business models. The fund plans to take a page from several existing ETFs including Cathie Wood’s ARK Innovation ETF (ARKK) which saw a lot of growth during its early pandemic launch but has suffered a bit due to its top holdings being in tech companies which buckled as the Federal Reserve began its monetary tightening campaign though have rebounded this month.
BNY Mellon To Launch Innovation ETF
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ETF Newz Says:
The new fund from BNY Mellon will join a saturated sector of the ETF market.