ETF Odds & Ends: FlexShares Adds ESG Fund
Launches represented most of the activity in the ETF space during the week.
A total of eight funds launched during the week ended April 22, including the newest addition to Northern Trust’s lineup of “ESG & Climate” FlexShares, which debuted on Thursday.
The FlexShares ESG & Climate Emerging Markets Core Index Fund (FEEM) follows a methodology that looks to provide exposure to stocks that have high scores for their ESG metrics and that offer lower-than-average carbon-related risks. FEEM comes with an expense ratio of 0.18% and lists on the NYSE Arca.
On Friday, the newly reorganized SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC), which formerly traded as the SPDR MSCI ACWI Low Carbon Target ETF (LOWC), underwent a 4-for-1 forward split and simultaneously decreased its expense ratio to 0.12% from 0.20%.
Finally, the LGBTQ + ESG100 ETF (LGBT), which launched less than a year ago, saw its last day of trading on Wednesday. The shutdown brings the number of completed closures year-to-date to 24, but another 10 are already set to be finalized by early May.
Contact Heather Bell at [email protected]
