Corporate event ETFs
There are 11 ETFs that select stocks based on key corporate events happening like an initial public offering, a spin-off of a subsidiary, or a stock split. Other corporate event ETFs select stocks of companies that re-purchase a significant portion of their outstanding shares.
Here are the ETFs if you want to read some examples of the approaches taken by these ETFs:
| Name | Symbol | Last price | Currency | AUM | Expense ratio, % | Inception date |
|---|---|---|---|---|---|---|
| Invesco BuyBack Achievers ETF | XNAS:PKW | 119.97 | USD | 1,286,894,270 | 0.50 | Dec 20, 2006 |
| First Trust US Equity Opportunities ETF | ARCX:FPX | 132.04 | USD | 662,710,692 | 0.59 | May 24, 2006 |
| Cambria ETF Trust Cambria Emerging Shareholder Yield ETF | BATS:EYLD | 32.03 | USD | 419,947,823 | 0.66 | Jul 14, 2016 |
| TrimTabs Float Shrink | BATS:ABFL | 68.77 | USD | 418,750,500 | 0.59 | Sep 28, 2016 |
| Cambria Foreign Shareholder Yield ETF | BATS:FYLD | 25.74 | USD | 305,678,922 | 0.59 | Dec 03, 2013 |
| Renaissance IPO ETF | ARCX:IPO | 46.57 | USD | 145,868,415 | 0.60 | Oct 16, 2013 |
| First Trust International Equity Opportunities ETF | XNAS:FPXI | 51.01 | USD | 137,390,390 | 0.70 | Nov 11, 2014 |
| Invesco International BuyBack Achievers ETF | XNAS:IPKW | 39.91 | USD | 95,436,200 | 0.55 | Feb 27, 2014 |
| Invesco S&P Spin-Off ETF | ARCX:CSD | 91.57 | USD | 70,277,220 | 0.50 | Dec 15, 2006 |
| Principal Value ETF | XNAS:PY | 51.20 | USD | 69,887,376 | 0.15 | Mar 22, 2016 |
| Renaissance Capital Greenwich Fund | ARCX:IPOS | 13.02 | USD | 4,294,232 | 0.60 | Oct 07, 2014 |
Do corporate event ETFs outperform?
You should study the above corporate event ETFs carefully. Most of the above corporate event ETFs have impressive track records, or they are tracking an index that has an impressive track record. Granted, many of these indexes have impressive track records using theoretical back-test data, which has its limitations. But nevertheless, as you study the above corporate event ETFs, you get the impression that these strategies are some of the most successful "smart beta" strategies.