ETF Week: SPDR Ignites Fee War

Below is a roundup of key developments in the ETF space during the week started Oct. 16, 2017:

Fee Change

State Street launched the SPDR Portfolio ETFs, a suite of 15 existing ETFs repackaged with much lower fees, some the lowest in their class. The funds also got new names, new tickers and three of them got new in-house indices. They are: 

Launches

ETF Managers Group launched an artificial intelligence ETF centered on IBM’s Watson. The AI Powered Equity ETF (AIEQ) is the firm’s first actively managed fund.

Global X launched an ETF targeting well-known brands. The Global X Iconic U.S. Brands ETF (LOGO) tracks an index from Accuvest Global Advisors.  

IndexIQ launched two active muni bond ETFs, the IQ MacKay Shields Municipal Insured ETF (MMIN) and IQ MacKay Shields Municipal Intermediate ETF (MMIT).  

Principal listed on Nasdaq two single-factor ETFs, the Principal Contrarian Value Index ETF (PVAL) and the Principal Sustainable Momentum Index ETF (PMOM), just a week after the firm launched a smart-beta mega-cap fund.

Active Weighting Funds rolled out a trio of actively managed ETFs under the EventShares brand name. The funds pick holdings based on policy. They are the Republican Policies Fund (GOP), the Democratic Policies Fund (DEMS) and the U.S. Tax Reform Fund (TAXR).

Filings

Cambria Funds filed for an options-strategy ETF, the Cambria Covered Call Strategy ETF. The fund will be actively managed and invest primarily in other funds, including ETFs, exchange-traded notes and closed-end funds.

J.P. Morgan filed for an emerging market bond ETF denominated in U.S. dollars, the JPMorgan USD Emerging Markets Bond ETF going head to head with other players in the space, such as the $11.7 billion iShares JP Morgan USD Emerging Markets Bond ETF (EMB). 

For more on launches, filings and closures, visit the ETF Watch page.

Contact Cinthia Murphy at [email protected]