EquityCompass Risk Manager ETF
ERM
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- EquityCompass Risk Manager ETF (NYSE Arca: ERM) is an actively managed exchange-traded fund that seeks long-term capital appreciation as its primary objective, with capital preservation as a secondary goal; it invests primarily in equity securities of U.S.-domiciled companies or those listed on U.S. securities exchanges, while employing a tactical risk management approach to adjust allocations based on market conditions, potentially shifting all or a portion of assets into cash, cash equivalents, and short-term fixed income exchange-traded funds during unfavorable U.S. equity market periods. The ETF tracks elements of the S&P 500 index through a long-only strategy focused on large-value equities, managed volatility, and downside risk mitigation via fundamental earnings analysis, technical indicators, macroeconomic factors, and high-frequency economic data. It is part of the broader managed volatility and equity income segments within the ETF industry, targeting investors seeking broad U.S. market exposure with reduced volatility and protection against prolonged drawdowns. The fund was launched on April 10, 2017, and is a series of First Trust Exchange-Traded Fund VIII, with First Trust Advisors L.P. serving as the investment adviser based in Wheaton, Illinois, and EquityCompass Investment Management, LLC acting as sub-adviser; EquityCompass, a wholly owned subsidiary of Stifel Financial Corp., provides the underlying Equity Risk Management Strategy that powers the ETF's tactical asset allocation across stocks, bonds, or cash. In October 2021, ERM underwent a significant reorganization when it absorbed the assets and liabilities of the related EquityCompass Tactical Risk Manager ETF (formerly NYSE Arca: TERM) following shareholder approval, enhancing its scale and operational continuity under First Trust's supervision. More recently, in May 2025, the underlying Equity Risk Management Strategy moderately increased its equity exposure to 62.5% from 50% amid de-escalating global trade tensions, rising S&P 500 earnings expectations, and supportive Federal Reserve policy, with the balance allocated to short-term U.S. Treasury bills; an amended establishment and designation for the fund was also effective as of February 14, 2024, authorizing expanded flexibility in holding cash and securities. Note that while trading data indicated activity as of late 2025, First Trust's product page lists ERM as terminated, potentially signaling a liquidation or closure subsequent to these strategic adjustments. The ETF operates exclusively in U.S. markets, serving financial intermediaries, institutions, and individual investors through NYSE Arca.