ProShares, a premier provider of alternative ETFs, has launched the ProShares Morningstar Alternatives Solution ETF.
ALTS is the only ETF based on a Morningstar index comprising a broad range of alternative strategies. When added to a traditional stock and bond portfolio, ALTS is designed to enhance risk-adjusted returns.
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"As the popularity of alternative investments grows, many investors struggle with how to incorporate these strategies in a portfolio," said Michael L. Sapir, Chairman and CEO of ProShares Advisers, LLC. "We are thrilled to collaborate with Morningstar to provide an alternatives solution that can help investors build better portfolios."
"ProShares has one of the broadest suites of alternative ETFs," said Sanjay Arya, head of Morningstar Indexes. "Creating an index that provides diversified exposure to alternative strategies aligns with Morningstar’s goal of helping investors achieve better outcomes."
The Morningstar® Diversified Alternatives IndexSM is based on the asset allocation and construction expertise of Morningstar and its subsidiary Ibbotson Associates.
The index allocates among a diversified set of ProShares alternative ETFs covering strategies including hedge fund replication, long/short equity, merger arbitrage, managed futures, breakeven inflation, infrastructure and listed private equity.
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By GlobalDataMorningstar dynamically adjusts the base allocation by applying a tactical momentum signal based on price trends over time in each underlying ETF.
For at least the first two years following the launch of the ProShares Morningstar Alternatives Solution, all investment advisory and management service fees will be waived.
