ETF Week: Cheaper Gold Fund, Tuttle ETFs Close

Below is a roundup of key developments in the ETF space during the week started Aug. 27, 2017:

Launch

• GraniteShares rolled out a new ultra-low cost physical gold ETF. The GraniteShares Gold Trust (BAR) costs just 0.20%, less than any other physical gold ETF by at least 5 basis points.

Closures

• Virtus announced it would be shuttering the Tuttle Tactical Management U.S. Core ETF (TUTT) and the Tuttle Tactical Management Multi-Strategy Income ETF (TUTI) on or around Aug. 25.

Filing

• First Trust filed for a dividend growth ETF that will target the small and midcap spaces. The First Trust SMID Cap Rising Dividend Achievers ETF will track an index of companies that have demonstrated consistent dividend growth.

Modifications

• The Amplify YieldShares Prime 5 Dividend ETF (PFV) underwent a complete makeover. The Amplify YieldShares Senior Loan and Income ETF (YESR), as it is now known, not only has a new ticker, name and underlying index, it has a new expense ratio—2.15%, up from 0.45%.
• Deutsche Bank announced it would be changing the indexes and names of two of its currency-hedged funds. The Deutsche X-Trackers MSCI Italy Hedged Equity ETF (DBIT) and the Deutsche X-Trackers MSCI Southern Europe Hedged Equity ETF (DBSE) will be known as the Deutsche X-trackers Germany Equity ETF and the Deutsche X-trackers Eurozone Equity ETF, respectively, effective Oct. 27.
• IndexIQ raises the fees on six of its ETFs, while lowering the costs on another four.

Other News

• Elkhorn Investments, which was founded by Ben Fulton, has been acquired by active manager Turner Investments.

And don’t forget our lists of launches, closures and filings.

Contact Heather Bell at [email protected].