Interactive Brokers, an automated global electronic broker and market maker, has announced the availability of Eaton Vance NextShares exchange-traded managed funds (NextShares) through its investing and trading platforms on a no-transaction fee (NTF) basis.
NextShares Solutions is a wholly owned subsidiary of Eaton Vance, a global asset manager that was formed to develop and commercialize NextShares.
Effective immediately, retail investors and financial professionals can now buy and sell the following NextShares funds on an NTF basis through Interactive Brokers:
- Eaton Vance Global Income Builder NextShares (NASDAQ: EVGBC)
- Eaton Vance Stock NextShares (NASDAQ: EVSTC)
- Eaton Vance TABS 5-to-15 Year Laddered Municipal Bond NextShares (NASDAQ: EVLMC)
Cost Efficiency with Enhanced Shareholder Returns
NextShares are a new way to invest in actively managed strategies and offer the potential for benchmark-beating returns by applying their manager’s proprietary investment research.
As exchange-traded products, NextShares may offer cost and tax efficiency that can enhance shareholder returns and are expected to be offered by a range of well-known asset managers and across fund asset classes. The first NextShares funds began trading on the Nasdaq stock market earlier this year.
Thomas Peterffy, Chairman, founder and Chief Executive Officer at Interactive Brokers, commented: “NextShares support our vision of providing our customers with high-quality services at a lower cost. We are excited to bring investors a potentially better-performing, lower-cost and more tax-efficient investment opportunity with NextShares.”