##  [# ProShares, First Trust Make Changes To ETFs](/sections/daily-etf-watch/proshares-first-trust-make-changes-etfs) 

 

# ProShares, First Trust Make Changes To ETFs

 

 

The issuers were among a number of firms making changes to expense ratios and enacting splits.



 

 

 

 

 [![HeatherBell_green_bg](/sites/default/files/styles/author_image_icon/public/2023-03/heather2.png?itok=5J9vBlda)](/contributors/heather-bell) 

[By Heather Bell](/contributors/heather-bell)

 Jan 08, 2021

 Edited by: Heather Bell

 

 

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This week saw a few issuers making expense ratio changes to their ETFs or splitting shares. Among them was ProShares, which announced splits for a dozen of its funds, effective Jan. 21, 2021.

Those scheduled splits include 2-for-1 forward splits for the **[ProShares Ultra Health Care ETF (RXL)](https://www.etf.com/rxl)** and the **[ProShares UltraPro QQQ ETF (TQQQ)](https://www.etf.com/tqqq).**

There are also 10 planned reverse splits, which include the following:

- **[ProShares UltraShort MidCap400 ETF (MZZ)](https://www.etf.com/mzz)**, 1 for 2
- **[ProShares UltraShort QQQ ETF (QID)](https://www.etf.com/qid)**, 1 for 4
- **[ProShares UltraShort SmallCap600 ETF (SDD)](https://www.etf.com/sdd)**, 1 for 2
- **[ProShares UltraShort Utilities ETF (SDP)](https://www.etf.com/sdp)**, 1 for 2
- **[ProShares UltraShort Industrials ETF (SIJ)](https://www.etf.com/sij)**, 1 for 2
- **[ProShares UltraShort Financials ETF (SKF)](https://www.etf.com/skf)**, 1 for 2
- **[ProShares UltraPro Short MidCap400 ETF (SMDD)](https://www.etf.com/smdd)**, 1 for 2
- **[ProShares UltraPro Short S&amp;P500 ETF (SPXU)](https://www.etf.com/spxu)**, 1 for 5
- **[ProShares UltraPro Short Russell2000 ETF (SRTY)](https://www.etf.com/srty)**, 1 for 5
- **[ProShares UltraShort Russell2000 ETF (TWM)](https://www.etf.com/twm)**, 1 for 4

Similarly, effective as of the close of markets today, Jan. 8, Direxion is enacting share splits on four of its funds. They are as follows:

- The [**Direxion Daily Retail Bull 3X Shares (RTL)**](https://www.etf.com/rtl) will undergo a 5-for-1 forward split.
- The [**Direxion Daily Robotics, Artificial Intelligence, &amp; Automation Index Bull 2X Shares (UBOT)**](https://www.etf.com/ubot) will undergo a 5-for-1 forward split.
- The **[Direxion Daily S&amp;P 500 High Beta Bear 3X Shares (HIBS)](https://www.etf.com/hibs)** will undergo a 1-for-20 reverse split.
- The [**Direxion Daily S&amp;P 500 Bear 3X Shares (SPXS)**](https://www.etf.com/spxs) will undergo a 1-for-10 reverse split.

**Expense Ratio Changes**

First Trust and ALPS both made some changes to ETF expense ratios. For ALPS, this meant a 10-basis-point reduction in the expense ratio of the **[ALPS Clean Energy ETF (ACES)](https://www.etf.com/aces)** from 0.65% to 0.55%, while First Trust changed the fees on eight of its funds, effective Jan. 4, 2021.

Those changes are as follows:

- The expense ratio for the **[First Trust Active Factor Small Cap ETF (AFSM)](https://www.etf.com/afsm)** increased from 0.75% to 0.77%.
- The expense ratio for the **[EquityCompass Risk Manager ETF (ERM)](https://www.etf.com/erm)** increased from 0.65% to 0.68%.
- The expense ratio for the **[First Trust CEF Income Opportunity ETF (FCEF)](https://www.etf.com/fcef)** decreased from 3.21% to 2.91%.
- The expense ratio for the **[First Trust TCW Opportunistic Fixed Income ETF (FIXD)](https://www.etf.com/fixd)** increased from 0.55% to 0.56%.
- The expense ratio for the **[First Trust Low Duration Strategic Focus ETF (LDSF)](https://www.etf.com/ldsf)** decreased from 0.82% to 0.77%.
- The expense ratio for the **[First Trust Municipal CEF Income Opportunity ETF (MCEF)](https://www.etf.com/mcef)** increased from 2.59% to 2.65%.
- The expense ratio for the **[EquityCompass Tactical Risk Manager ETF (TERM)](https://www.etf.com/term)** decreased from 0.73% to 0.67%
- The expense ratio for the **[First Trust TCW Unconstrained Plus Bond ETF (UCON)](https://www.etf.com/ucon)** increased from 0.75% to 0.76%.

*Contact Heather Bell at <hbell@etf.com>*



 

 

 [ Heather Bell ](/contributors/heather-bell) 

 

 

  Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a…   [View Bio](/contributors/heather-bell)

 



 

 


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