Grail Advisors, an exchange-traded fund provider based in San Francisco, has a new actively managed fixed-income ETF, the third it unveiled in a week.

The RP Short Duration Bond ETF is subadvised by RiverPark Advisors LLC of New York City and Cohanzick Management LLC of Pleasantville, N.Y.

As with traditional actively managed bond funds, the RP Short Duration Bond ETF will allow portfolio managers unrestricted trading.

The other actively managed fixed-income ETFs that Grail launched last week were the Grail McDonnell Intermediate Municipal Bond ETF and the Grail McDonnell Core Taxable Bond ETF.

Cohanzick Management will provide day-to-day portfolio management services for the RP fund. David K. Sherman, the majority owner of Cohanzick Management, will be the fund's portfolio manager.

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