ETF Odds & Ends: Veterans Fund Closes

An ETF that focused on employers that are supportive of the military veterans community saw its last day of trading on July 27. The Pacer Military Times Best Employers ETF (VETS) launched in April 2018 but never gathered significant assets.

The total number of ETF closures completed this year is hovering in the mid-twenties, a far cry from the roughly 150 that had been completed by this time last year.

Meanwhile, today is the last day of trading for the Pacific Global Focused High Yield ETF (FJNK). The fund launched in October 2019 and as of today had $25 million in assets under management.

Additional Launches

The week also saw the launches of a number of ETFs not immediately covered by ETF.com. Most notably, Direxion rolled out the Direxion Daily Global Clean Energy Bull 2X Shares ETF (KLNE) on July 29. The fund tracks the same index as the $6 billion iShares Global Clean Energy ETF (ICLN) but doubles the index’s returns. KLNE comes with an expense ratio of 1.07% and lists on the NYSE Arca.

That same day, the Timothy Plan, which offers “biblically responsible” ETFs that are designed to align with conservative Christian values, debuted two volatility-weighted ETFs of its own. The Timothy Plan High Dividend Stock Enhanced ETF (TPHE) and the Timothy Plan US Large/Mid Cap Core Enhanced ETF (TPLE) each come with expense ratios of 0.52% and list on the NYSE Arca.

TPHE tracks the biblically responsible Victory US Large Cap High Dividend Long/Cash Volatility Weighted BRI Index and holds a portfolio of 100 securities offering high dividends. TPLE tracks the Victory US Large/Mid Cap Long/Cash Volatility Weighted BRI Index, an index that screens the largest 500 securities listed in the U.S. to eliminate companies that do not align with biblical values.

Expense Ratio Changes

While there was a significant round of cost cutting at iShares as of Friday, a number of other firms recorded changes to some of their ETFs’ costs.

As of June 23, the Innovator IBD Breakout Opportunities ETF (BOUT) raised its expense ratio from 0.80% to 0.84%, while several funds had changes that were effective as of July 29. Those included the following:

• The Siren DIVCON Dividend Defender ETF (DFND) increased its expense ratio from 1.44% to 1.50%.
• The Absolute Core Strategy ETF (ABEQ) lowered its expense ratio from 0.88% to 0.85%.
• The Active Dividend Stock ETF (TADS) increased its expense ratio from 1.15% to 1.68%
• The Trend Aggregation Conservative ETF (TACE) decreased its expense ratio from 1.87% to 1.48%.
• The Trend Aggregation ESG ETF (TEGS) increased its expense ratio from 1.15% to 1.43%.
• The Trend Aggregation Growth ETF (TAAG) increased its expense ratio from 1.15% to 1.69%.
• The Trend Aggregation U.S. ETF (TAEQ) increased its expense ratio from 1.15% to 1.70%.

Other Changes

Several other ETFs either changed—or have plans to change—their names or indexes, or even both.

As of Friday, the ETRACS Quarterly Pay 1.5X Leveraged Wells Fargo BDC Index ETN (BDCX) changed its index from the Wells Fargo Business Development Company Index to the MVIS US Business Development Companies Index. The ETRACS Linked to Wells Fargo Business Development Co  Index ETN Series B (BDCZ) changed its index from the Wells Fargo Business Development Company Index to the MVIS US Business Development Companies Index.

Effective Aug. 24, the Xtrackers Bloomberg Barclays US Investment Grade Corporate ESG ETF (ESCR) will change its name to the Xtrackers Bloomberg US Investment Grade Corporate ESG ETF and its index from the Bloomberg Barclays MSCI US Corporate Sustainability SRI Sector/Credit/Maturity Neutral Index to the Bloomberg MSCI US Corporate Sustainability SRI Sector/Credit/Maturity Neutral Index.

As of Sept. 28, the Global X SuperDividend Alternatives ETF (ALTY) will change its name to the Global X Alternative Income ETF.

Contact Heather Bell at [email protected]