ETF Odds & Ends: A Quiet Week For Launches

ETF Odds & Ends: A Quiet Week For Launches

Plus, another ETF closure was announced.

Reviewed by: Heather Bell
Edited by: Heather Bell

Going into the Memorial Day long weekend, launches were fairly muted, with only six new products making their debut.  

Among them was the PGIM Floating Rate Income ETF (PFRL), which rolled out on the NYSE Arca on Tuesday with an expense ratio of 0.72%. 

PFRL actively manages a portfolio of floating rate senior loans, with no limits on quality ratings or maturity.  

There are four other actively managed ETFs on U.S. markets targeting floating rate bonds as a source of income, but PFRL's closest competitor is the Pacer Pacific Asset Floating Rate High Income ETF (FLRT) as both funds have no tilt toward either end of the credit quality spectrum. 


During the week, another closure was announced. The $18 million Infusive Compounding Global Equities ETF (JOYY), which launched at the very end of 2019, will see its last trading day on June 10. Its pending closure brings the total number of scheduled and completed ETF shutdowns for 2022 to 38. That compares with 22 shutdowns during the same period in 2021  

Wednesday was the last day of trading for three ETFs offered by Nationwide: 

Other Changes 

There were myriad tweaks to existing ETFs during the week as well. The Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (RIGZ) changed its name to the Viridi Bitcoin Miners ETF as of Thursday, while on Wednesday, the DoubleLine Shiller CAPE U.S. Equities ETF (DCPE) changed its ticker to CAPE.  

On Thursday, four ETFs underwent share splits. The ProShares Ultra Bloomberg Crude Oil (UCO) and the ProShares UltraShort Yen (YCS) underwent 4-for-1 and 2-for-1 forward splits, respectively. 

At the same time, the ProShares UltraShort Bloomberg Natural Gas (KOLD) and the ProShares UltraShort Bloomberg Crude Oil (SCO) underwent 1-for-4 and 1-for-5 reverse splits, respectively.  

Finally, the Global X Cannabis ETF (POTX) will see a 1-for-6 reverse split as of June 10. 


Contact Heather Bell at [email protected] 

Heather Bell is a former managing editor of She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.