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Putnam Investments announced the unveiling of five new exchange traded funds. Each fund is actively managed and focuses on bonds and other fixed-income investments and on ESG (short for environmental, social and corporate governance).
See below a breakdown of each of the five listed exchange traded funds:
Putnam ESG Core Bond ETF (PCRB): The fund invests mainly in bonds of governments and private companies located in the U.S. that are investment grade in quality with intermediate- to long-term maturities.
Putnam ESG High Yield ETF (PHYD): PHYD takes positions in bonds that are below investment grade in quality “junk bonds” that also have intermediate- to long-term maturities.
Putnam ESG Ultra Short ETF (PULT): The ETF intends to offer a diversified portfolio of fixed income securities composed of short-duration, investment-grade money market and other fixed income securities.
Putnam PanAgora ESG International Equity ETF (PPIE): Aims to provide exposure to stocks of any size outside the United States.
Putnam PanAgora ESG Emerging Markets Equity ETF (PPEM): PPEM looks to provide investors with exposure to companies of emerging markets that are of any size.
In broader financial news, the major market averages Nasdaq Composite (COMP.IND), S&P 500 (SP500), and Dow Jones (DJI) have each moved higher early on Friday morning.
