---
title: "Five new ETFs from VanEck, XFUNDS, Tuttle, Tema and THOR do not share a market"
url: "https://etf.net/news/five-new-etfs-share-no-market-2026-11-04"
published_at: "2026-11-04T17:19:15.462Z"
updated_at: "2026-11-04T17:19:15.462Z"
byline: "ETF.net Research"
---

# Five new ETFs from VanEck, XFUNDS, Tuttle, Tema and THOR do not share a market

VanEck's emerging-market inflation bond fund charges 0.30% and caps each developed-market country, which State Street's 0.50% international inflation fund does not.

By ETF.net Research. Published Nov 4, 2026.

Five exchange-traded funds have started trading since Oct. 22. Two began on Tuesday, Nov. 3.

## VanEck EM Focus Inflation Bond ETF

The VanEck EM Focus Inflation Bond ETF, EMIL, began trading on NYSE Arca on Nov. 3. A [Sept. 15 summary prospectus](https://www.sec.gov/Archives/edgar/data/1137360/000113736026000903/vaneckemfocusinflationbond.htm) sets total annual fund operating expenses at **0.30%**. It tracks inflation-linked government bonds issued outside the United States.

The fund already in that market is the State Street SPDR FTSE International Government Inflation-Protected Bond ETF, WIP. It has traded since March 13, 2008. [State Street](https://www.ssga.com/us/en/intermediary/etfs/state-street-spdr-ftse-international-government-inflation-protected-bond-etf-wip) reported $459 million as of Nov. 3, and the [April 30 summary prospectus](https://www.sec.gov/Archives/edgar/data/1064642/000119312526187509/d10004d497k.htm) sets the fee at 0.50%.

EMIL is 0.2 percentage points cheaper, and the indexes are built for different books. WIP mixes developed and emerging markets and sets no emerging-market floor. On June 30 the United Kingdom was 17.8% of WIP, the largest country, [State Street's fact sheet](https://www.ssga.com/library-content/products/factsheets/etfs/us/factsheet-us-en-wip.pdf) showed.

EMIL's index will not hold a position like that. [FTSE Russell's September 2026 ground rules](https://www.lseg.com/content/dam/ftse-russell/en_us/documents/ground-rules/ftse-emerging-markets-focused-international-inflation-linked-securities-index-ground-rules.pdf) cap each developed-market country at **4.6%** and each emerging-market country at 22.5%. Those rules target at least 65% in emerging markets, and if the caps get in the way, the index takes as much emerging-market weight as the caps allow.

A holder is getting an emerging-market inflation portfolio with a small developed-market sleeve, not the global mix outside the United States that WIP holds.

U.S. Treasury inflation-protected securities, or TIPS, are bonds whose payments rise with U.S. inflation. Real yield is the yield left after inflation.

William Sokol, VanEck's director of product management, said in the [Nov. 3 announcement](https://www.vaneck.com/us/en/press-releases/vaneck-launches-em-focus-inflation-bond-etf-emil-targeting-higher-real-yield-beyond-us-tips): "Inflation has been a global phenomenon driven by structural trends, and for many investors U.S. TIPS are only part of the answer to hedge this risk."

VanEck said that on Sept. 30, emerging-market inflation-linked bonds offered more than twice the real yield of TIPS. That comparison uses a broader FTSE emerging-market inflation index, not the one EMIL tracks, and VanEck's fund page shows no yield for the fund itself.

## XFUNDS Value Income ETF

The XFUNDS Value Income ETF, VTVX, also began trading on Nov. 3, on NYSE Arca. Tidal Investments advises it, and Nicholas Wealth is the sub-adviser. A [Nov. 3 summary prospectus](https://www.sec.gov/Archives/edgar/data/1924868/000199937126024188/vtvx-497k_110326.htm) lists total annual fund operating expenses at 0.75%. That table leaves out fees of other funds the ETF may hold. A [prospectus filed the day before](https://www.sec.gov/Archives/edgar/data/1924868/000199937126024067/vtvx-497k_110226.htm) had estimated those at 0.01%.

The prospectus puts capital appreciation ahead of income. At least 80% of assets go into U.S. value stocks, value ETFs and options on them, and the income is meant to come mostly from option spreads.

The same prospectus says the fund may sell a call on a stock it does not own. If that stock rises sharply, the fund owes the gain and has no shares to deliver against it.

Payouts can include a return of capital, which the prospectus describes as invested money coming back rather than profit. Distributions above the fund's total return reduce the share price.

The established fund in this market sells calls only on shares it holds. That is the Amplify CWP Enhanced Dividend Income ETF, DIVO, which charged 0.56% in its [Jan. 28 prospectus](https://www.sec.gov/Archives/edgar/data/1633061/000121390026008341/ea0273008-14_497k.htm). [Amplify](https://amplifyetfs.com/divo) reported $8.0 billion as of Oct. 16.

## Tuttle Capital Innovation 100 Income and Hedge ETF

Tuttle Capital Management's Tuttle Capital Innovation 100 Income and Hedge ETF, QQDH, began trading on Cboe on Oct. 23. An [Oct. 16 summary prospectus](https://www.sec.gov/Archives/edgar/data/1771146/000177114626002083/tuttlecapinnovation100inco.htm) sets the fee at 0.95%.

It takes Nasdaq-100 exposure through the Invesco QQQ Trust, QQQ, or through options, and it does not sell calls against that exposure. Income is meant to come from put credit spreads. That is a bet that pays the fund if the Nasdaq-100 stays above a chosen price, and costs it if the index falls through that price.

Matthew Tuttle, chief executive of Tuttle Capital Management and the fund's portfolio manager, said in the Oct. 23 announcement: "QQDH takes a different route: we don't write calls over the Nasdaq-100 exposure, we seek income with put credit spreads instead, and we reset a hedge every day."

That announcement says the hedge is built for a short, sharp drop, and that a modest decline can add to losses. The usual hedge in the prospectus sells a put near the price of QQQ and buys puts at lower prices, so a small drop can cost money before the protection pays.

The fund already selling Nasdaq income at scale is the JPMorgan Nasdaq Equity Premium Income ETF, JEPQ. A [Nov. 1, 2025 prospectus](https://www.sec.gov/Archives/edgar/data/1485894/000119312525261034/d812991d497k.htm) says it sells call options on the Nasdaq-100 through notes that have those calls built in, and holds the stocks. That is the trade QQDH says it will not make.

[JPMorgan's Sept. 30 fact sheet](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/etfs/FS-JEPQ.PDF) puts the fee at 0.35% and assets at $44.3 billion.

The closer match on the hedge is the NEOS Nasdaq-100 Hedged Equity Income ETF, QQQH. [NEOS](https://neosfunds.com/qqqh) says it seeks high monthly income with a measure of downside protection, and showed a 0.68% expense ratio as of Nov. 3. Both that fund and JEPQ are cheaper than QQDH.

## Tema Commodity Income ETF

The Tema Commodity Income ETF, ICOM, began trading on the Texas Stock Exchange on Oct. 22. Tema dates the inception to Oct. 21. An [amended Oct. 21 summary prospectus](https://docs.temaetfs.com/3ZhD6wKscSQ) sets the fee at 0.75%.

It is an active stock fund, not a commodity-futures fund. At least 80% of net assets go into dividend-paying companies that get at least half their revenue from the commodity business. Tema's [Oct. 22 announcement](https://temaetfs.com/press/tema-launches-commodity-income-etf-and-commodity-infrastructure-etf-tema-etfs) says shareholders receive a Form 1099 rather than a Schedule K-1, the partnership tax form. A 1099 is the ordinary one.

[Tema's site](https://temaetfs.com/icom) showed $730,482 and 34 stocks as of Nov. 2.

The large fund already holding global commodity stocks is the State Street SPDR S&P Global Natural Resources ETF, GNR. It tracks a stock index rather than seeking income. [State Street](https://www.ssga.com/us/en/intermediary/etfs/state-street-spdr-sp-global-natural-resources-etf-gnr) reported $5.3 billion as of Nov. 3, and a [Sept. 30 fact sheet](https://www.ssga.com/library-content/products/factsheets/etfs/us/factsheet-us-en-gnr.pdf) puts the fee at 0.40% for an index that gives a third of its weight to each of agriculture, energy, and metals and mining.

GNR is the cheap way to own those stocks. ICOM is asking 0.75% to pick dividend payers in that business and pay monthly.

## THOR Conservative Risk Dynamic ETF

THOR Financial Technologies' THOR Conservative Risk Dynamic ETF, THCR, is trading on the New York Stock Exchange. An [Oct. 21 prospectus](https://www.sec.gov/Archives/edgar/data/1924447/000158064226007394/thorconservativeriskdyn497k.htm) sets total annual expenses at 1.10%, estimated, including a 0.85% management fee and 0.25% in fees of the funds it holds.

The prospectus names capital appreciation as the objective, not income. The fund can own stocks, ordinary ETFs and leveraged ETFs across equities, bonds, commodities including gold, and alternatives including cryptocurrencies.

A sub-adviser targets a 5% annualized volatility, a measure of how widely returns are expected to swing, and the prospectus uses that figure as an input to the model. It also says the adviser can set the model's results aside, so the 5% is not a floor under losses.

Source: etf.net, https://etf.net/news/five-new-etfs-share-no-market-2026-11-04. Please cite the page URL.