When executives of ETF Managers Capital rang the bell of the New York Stock Exchange in early December, the size of the $15.6 million exchange-traded fund they command that bets on higher interest rates wasn't as notable as its ticker symbol and the timing: RISE came into the spotlight just as the Federal Reserve's first interest-rate hike in nine-plus years became all but certain.
The Sit Rising Rate ETF is not alone. It's one of many ETFs that have been springing up to play the long-expected rise in rates. "There was a flurry of launches over the last eight months," said FactSet senior analyst Paul Britt. "The concern has been out there for years, so there have been all kinds of products."