ETF Odds & Ends: iShares Expense Ratio Changes
The week also saw a range of share splits, closures and launches.
Perhaps the biggest news beyond launches last week in the ETF space were the baker’s dozen of expense ratio changes that became effective March 1. iShares, Global X and other issuers all made changes to a variety of funds.
iShares trimmed one basis point off the costs of three of its fixed income ETFs as follows:
- The iShares Interest Rate Hedged Emerging Markets Bond ETF (EMBH) lowered its expense ratio from 0.48% to 0.47%.
- The iShares Interest Rate Hedged High Yield Bond ETF (HYGH) lowered its expense ratio from 0.53% to 0.52%.
- The iShares Inflation Hedged Corporate Bond ETF (LQDI) lowered its expense ratio from 0.19% to 0.18%.
Similarly, Global X shaved one basis point off the expense ratios of six of its China sector ETFs, lowering the cost from 0.66% to 0.65%. The affected funds included the following:
- Global X MSCI China Communication Services ETF (CHIC)
- Global X MSCI China Health Care ETF (CHIH),
- Global X MSCI China Information Technology ETF (CHIK)
- Global X MSCI China Real Estate ETF (CHIR)
- Global X MSCI China Consumer Staples ETF (CHIS)
- Global X MSCI China Financials ETF (CHIX)
Meanwhile, the Global X DAX Germany ETF (DAX) lowered its expense ratio from from 0.21% to 0.20% and the Global X FTSE Nordic Region ETF (GXF) lowered its expense ratio from 0.56% to 0.51%
The Anfield U.S. Equity Sector Rotation ETF (AESR) increased its expense ratio from 1.42% to 1.46%, while the Affinity World Leaders Equity ETF (WLDR) increased its expense ratio from 0.47% to 0.67%.
Share Splits
Six J.P. Morgan ETFs are set to undergo reverse splits effective April 12 as follows:
- JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX), 1 for 2
- JPMorgan BetaBuilders Canada ETF (BBCA), 1 for 2
- JPMorgan BetaBuilders 1-5 Year U.S. Aggregate Bond ETF (BBSA), 1 for 2
- JPMorgan BetaBuilders Europe ETF (BBEU), 1 for 2
- JPMorgan BetaBuilders Japan ETF (BBJP), 1 for 2
- JPMorgan U.S. Aggregate Bond ETF (JAGG), 1 for 2
Additional Changes
Changes are scheduled for two more funds. As of March 24, the Invesco Cleantech ETF (PZD) will change its ticker to ERTH, and as of May 17, ProShares K-1 Free Crude Oil Strategy ETF (OILK) will cease to be actively managed and adopt the Bloomberg Commodity Balanced WTI Crude Oil Index as its benchmark.
Closures
As of March 12, two ETFs shuttered. The AGFiQ U.S. Market Neutral Momentum Fund (MOM) and the AGFiQ Dynamic Hedged U.S. Equity ETF (USHG) bring the total number of completed closures for the year so far to six.
Additonal Launches
Beyond the ETF launches already covered by ETF.com, on March 11, J.P. Morgan rolled out the JPMorgan Emerging Markets Equity Core ETF (JEMA), an actively managed ETF that focuses on emerging markets and comes with an expense ratio of 0.33%.
Contact Heather Bell at [email protected]
