ETF Odds & Ends: Quiet Yet Eventful Week

The week ended March 4, 2022, was a trend reversal for the ETF space, with only one ETF launching in the period.

Up to now, launches had been set on “firehose” mode, with more than 80 ETFs rolling out in the first two months of the year, far outpacing the number launched during that time in 2021, a record-breaking year for launches.

However, the Russia’sn invasion of Ukraine seems to have abruptly shut off the ETF firehose. The Home Appreciation U.S. REIT ETF (HAUS) was the only ETF to launch this week. That said, there were plenty of other small changes affecting existing ETFs.

Ticker, Index & Name Changes

Effective, Feb. 28, the following ETFs underwent key changes:

• The IQ Real Return ETF (CPI) changed its index from the IQ Real Return Index to the Bloomberg IQ Multi-Asset Inflation Index.

• The Direxion Daily MSCI Real Estate Bull 3X Shares (DRV) changed its name to the Direxion Daily Real Estate Bull 3X Shares and its index from the MSCI US IMI Real Estate 25/50 Index to the Real Estate Select Sector Index.
• The Direxion Daily MSCI Real Estate Bear 3X Shares (DRN) changed its name to the Direxion Daily Real Estate Bear 3X Shares and its index from the MSCI US IMI Real Estate 25/50 Index to the Real Estate Select Sector Index.
• The Direxion Daily Financial Bull 3X Shares (FAS) and the Direxion Daily Financial Bear 3X Shares (FAZ) changed their shared index from the Russell 1000 Index – Financials to the Russell 1000 Financials 40 Act 15/22.5 Daily Capped Index.
• The Direxion Russell 1000 Value Over Growth ETF (RWVG) changed its index from the Russell 1000 Value/Growth 150/50 Net Spread Index to the Russell 1000 Value/Growth 150/50 Index.
• The Direxion Russell 1000 Growth Over Value ETF (RWGV) changed its index from the Russell 1000 Growth/Value 150/50 Net Spread Index to the Russell 1000 Growth/Value 150/50 Index.

As of March 1, the JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) changed its name to the JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF. At the same time, the iShares Global Green Bond ETF (BGRN) changed its name to the iShares USD Green Bond ETF and its underlying index from the Bloomberg MSCI Global Green Bond Select (USD Hedged) Index to the Bloomberg MSCI USD Green Bond Select Index.

As ofOn April 22, the SPDR MSCI ACWI Low Carbon Target ETF (LOWC) will change its name and ticker to the SPDR MSCI ACWI Climate Paris Aligned ETF (NZAC) and its index from the MSCI ACWI Low Carbon Target Index to the MSCI ACWI Climate Paris Aligned Index. At the same time, the fund will undergo a 4-for-1 forward share split.

Finally, as ofn May 3, the Franklin Liberty Federal Tax-Free Bond ETF (FLMB) will change its name to the Franklin Municipal Green Bond ETF.

Expense Ratio Changes

And during the week, a total of 30 ETFs made changes to their expense ratios.

As of Feb. 28, the following funds made expense ratios changes, with 15 of them undergoing price cuts, while six underwent increases. The reductions are as follows:

• InfraCap MLP ETF (AMZA), 2.10% to 1.40%
• Direxion Daily MSCI Brazil Bull 2X Shares (BRZU), 1.29% to 1.26%
• Direxion Daily CSI 300 China A Share Bear 1X Shares (CHAD), 0.85% to 0.76%
• Direxion Daily CSI 300 China A Share Bull 2X Shares (CHAU) from 1.21% to 1.05%
• Direxion Daily Cloud Computing Bull 2X Shares (CLDL), 1.07% to 0.96%
• Direxion Daily Cloud Computing Bear 2X Shares (CLDS), 1.07% to 0.99%
• AAM S&P Emerging Markets High Dividend Value ETF (EEMD), 0.50% to 0.49%
• Direxion Daily Energy Bull 2x Shares (ERX), 1.00% to 0.95%
• Direxion Daily Energy Bear 2X Shares (ERY), 1.00% to 0.99%
• Virtus InfraCap U.S. Preferred Stock ETF (PFFA), 1.47% to 1.21%
• Direxion Daily Russia Bull 2X Shares (RUSL), 1.23% to 1.20%
• Direxion Daily S&P 500 Bear 1X Shares (SPDN), 0.50% to 0.49%
• Main Sector Rotation ETF (SECT), 0.78% to 0.75%
• Direxion Daily S&P 500 Bull 2X Shares (SPUU), 0.64% to 0.63%
• Direxion Daily 5G Communications Bull 2X Shares (TENG), 1.07% to 0.95%

The increases are as follows:

• Main Thematic Innovation ETF (TMAT), 1.49% to 1.54%
• Virtus Private Credit Strategy ETF (VPC), 5.53% to 6.46%
• Changebridge Capital Long/Short Equity ETF (CBLS), 1.95% to 2.15%
• Direxion Auspice Broad Commodity Strategy ETF (COM), 0.70% to 0.72%
• Direxion Daily CSI China Internet Index Bull 2X Shares (CWEB), 1.30% to 1.32%
• Direxion Daily MSCI India Bull 2X Shares (INDL), 1.13% to 1.17%

Another nine ETFs revised their expense ratios as of March 1, with six undergoing reductions and three undergoing increases as follows:

• Global X MSCI Argentina ETF (ARGT), 0.60% to 0.59%
• Global X MSCI Next Emerging & Frontier ETF (EMFM) from 0.70 to 0.63%
• Global X MSCI Greece ETF (GREK), 0.58% to 0.56%
• Global X MSCI Colombia ETF (GXG), 0.62 to 0.61%
• Global X MSCI Norway ETF (NORW), 0.51% to 0.50%
• Global X MSCI Pakistan ETF (PAK), from 0.90% to 0.76%
• Global X MSCI Nigeria ETF (NGE), 0.89 to 0.91%
• Global X MSCI China Energy ETF (CHIE), 0.66% to 0.67%
• Global X MSCI China Utilities ETF (CHIU), 0.66% to 0.67%

Contact Heather Bell at [email protected]