There were a number of developments in the ETF space during the past few weeks ended March 5, including share splits, expense ratio changes and name changes, as well as several launches in addition to the ones we already covered.
Share Splits
Perhaps most interesting, iShares announced that its $28 billion iShares Gold Trust (IAU) will undergo a 1-for-2 reverse split, effective May 24.
Meanwhile, on March 3, five Direxion ETFs underwent splits. These included the Direxion Daily Financial Bear 3X Shares (FAZ) and the Direxion Daily Small Cap Bear 3X Shares (TZA) both undergoing 1-for-8 reverse splits. Three others underwent forward splits as follows:
- Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL), 7-for-1
- Direxion Daily Semiconductor Bull 3X Shares (SOXL), 15-for-1
- Direxion Daily Technology Bull 3X Shares (TECL), 10-for-1
Expense Ratio Changes
Effective March 1, expense ratios changed for a number of ETFs offered by multiple issuers. The changes affected six ETFs and are as follows:
- The BNY Mellon Emerging Markets Equity ETF (BKEM) saw its expense ratio increase from 0.11% to 0.18%.
- The Amplify Transformational Data Sharing ETF (BLOK) saw its expense ratio increase from 0.70% to 0.71%.
- The Amplify CWP Enhanced Dividend Income ETF (DIVO) saw its expense ratio increase from 0.49% to 0.55%.
- The Direxion Dynamic Hedge ETF (DYHG) saw its expense ratio increase from 0.57% to 0.58%.
- The Direxion Flight to Safety Strategy ETF (FLYT) saw its expense ratio decrease from 0.40% to 0.37%.
- The Amplify High Income ETF (YYY) saw its expense ratio increase from 2.28% to 2.45%.
Meanwhile, a range of ETFs offered by Invesco and Davis saw changes to their expense ratios become effective on Feb. 26. Those changes are as follows:
- Davis Select International ETF (DINT) saw its expense ratio change from 0.68% to 0.65%
- Davis Select U.S. Equity ETF (DUSA) saw its expense ratio change from 0.63% to 0.62%
- Invesco S&P Global Water Index ETF (CGW) saw its expense ratio change from 0.59% to 0.57%
- Invesco S&P Emerging Markets Low Volatility ETF (EELV) saw its expense ratio change from 0.29% to 0.30%
- Invesco S&P Emerging Markets Momentum ETF (EEMO) saw its expense ratio change from 0.29% to 0.31%
- Invesco Ultra Short Duration ETF (GSY) saw its expense ratio change from 0.23% to 0.22%
- Invesco S&P International Developed Momentum ETF (IDMO) saw its expense ratio change from 0.26% to 0.25%
- Invesco PureBeta FTSE Emerging Markets ETF (PBEE) saw its expense ratio change from 0.15% to 0.16%
- Invesco S&P 500 Downside Hedged ETF (PHDG) saw its expense ratio change from 0.39% to 0.40%
- Invesco DWA Developed Markets Momentum ETF (PIZ) saw its expense ratio change from 0.81% to 0.80%
- Invesco Balanced Multi-Asset Allocation ETF (PSMB) saw its expense ratio change from 0.35% to 0.32%
- Invesco Conservative Multi-Asset Allocation ETF (PSMC) saw its expense ratio change from 0.39% to 0.36%
- Invesco Growth Multi-Asset Allocation ETF (PSMG) saw its expense ratio change from 0.36% to 0.30%
- Invesco Moderately Conservative Multi-Asset Allocation ETF (PSMM) saw its expense ratio change from 0.37% to 0.33%
