ETF Odds & Ends: WisdomTree Adds Battery Fund

Although there were 14 launches during the week ended Feb. 18, a dozen of those new funds rolled out on one day, Wednesday. Among those funds was the WisdomTree Battery Value Chain and Innovation Fund (WBAT), which focuses on companies that operate in the battery and energy storage industry.  

WBAT’s underlying index covers companies that mine and produce the raw materials related to the space; manufacture the actual battery cells and parts; develop components and complementary products or services; and use or develop new battery storage technologies and applications, according to its prospectus.  

The new fund comes with an expense ratio of 0.45% and lists on Cboe Global Markets.  

Closures 

With launches going strong, closures are continuing at a slower and steadier pace. Another two fund shutdowns have been announced, with the funds’ last day of trading set for March 7.  

The Xtrackers Eurozone Equity ETF (EURZ) and the Xtrackers Japan JPX-Nikkei 400 Equity ETF (JPN) both launched in mid-2015 and have not gathered significant assets. So far this year, 10 ETFs have shut down compared with five by this time in 2021.  

Expense Ratio Changes 

Several funds have undergone expense ratio changes this month. Four funds offered by ProShares that each track the S&P 500 Index minus a specific sector underwent dramatic price cuts as of Feb. 1, slashing their respective expense ratios from 0.27% to 0.09%.  

The affected funds include the following: 

• ProShares S&P 500 Ex-Energy ETF (SPXE) 

• ProShares S&P 500 Ex-Financial ETF (SPXN) 
• ProShares S&P 500 Ex-Health Care ETF (SPXV) 
• ProShares S&P 500 Ex-Technology ETF (SPXT) 

As of Feb. 11, the DriveWealth Power Saver ETF (EERN) raised its expense ratio from 0.49% to 2.14%, while the DriveWealth Steady Saver ETF (STBL) raised its expense ratio from 0.43% to 0.80%. 

Other ETF Changes 

Several existing ETFs have also undergone name, ticker or index changes. 

The iPath Shiller CAPE ETN (CAPE) will change its ticker to CAPD as of Feb. 24.  

Meanwhile, as of Feb. 14, the iClima Distributed Renewable Energy Transition Leaders ETF (SHFT) changed its name to the iClima Distributed Smart Energy ETF, and the iClima Global Decarbonization Transition Leaders ETF (CLMA) changed its name to the iClima Climate Change Solutions ETF. 

That same day, the AGFiQ U.S. Market Neutral Anti-Beta Fund (BTAL) dropped its index, the Dow Jones U.S. Thematic Market Neutral Low Beta Index, to become actively managed. 

And finally, at the start of March, the  JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) will tweak its name to the JPMorgan BetaBuilders Developed Asia Pacific ex-Japan ETF. 

Contact Heather Bell at [email protected]