ETF Odds & Ends: Pacer Debuts Robotics Fund

Plus, a range of completed closures, expense ratio changes and share splits.

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Reviewed by: Heather Bell & Dan Mika
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Edited by: Heather Bell & Dan Mika

This was a fairly quiet week for the ETF industry. Among the handful of launches were offerings from Pacer and newcomer Akros ETFs.  

The Pacer BlueStar Engineering The Future ETF (BULD) debuted on the Nasdaq Thursday with an expense ratio of 0.60%. 

BULD tracks an index that aims to keep half of its weight in robotics companies, and the remaining 50% is split between companies focused on 3D printing and computer-aided design software development. The index rebalances and reconstitutes semiannually. 

The fund is the sixth ETF to specifically target robotics and 3D printing, with the first five funds from iShares, Global X, ARK Invest Management and others having approximately $3.7 billion in assets under management.   

The Akros Monthly Payout ETF (MPAY) rolled out on the NYSE Arca Friday with an initial expense ratio of 0.59%. The fund has a 25 basis point waiver in effect through May 2023. 

MPAY tracks an index of 18 other ETFs across asset classes and 50 U.S. stocks meant to target an annual distribution rate of 7%. The index rebalances and reconstitutes every month. 

Closures 

The number of completed closures for 2022 rose by eight during the week, with ProShares shuttering several of its funds on Tuesday. The closed ETFs include the following: 

Key Changes 

Also during the week, the Franklin Liberty Federal Tax-Free Bond ETF (FLMB) changed its name to the Franklin Municipal Green Bond ETF.  

Several funds from First Trust and Inspire saw expense ratio changes. The seven First Trust expense ratio reductions are as follows: 

The seven Inspire ETFs expense ratio changes are as follows: 

Finally, as of May 27, three Direxion ETFs will undergo reverse splits. The Direxion Daily Energy Bear 2X Shares (ERY) and the Direxion Daily CSI China Internet Index Bull 2X Shares (CWEB) will undergo 1-for-10 splits. Meanwhile, the Direxion Daily FTSE China Bull 3X Shares (YINN) will undergo a 1-for-20 split.  

 

Contact Heather Bell at [email protected]