ETF Week: SPDR Ignites Fee War

October 20, 2017

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: 

 

Previous Name/Ticker Previous Total
Expense Ratio
New Name/Ticker New Total
Expense Ratio
SPDR Russell 3000 ETF (THRK) 0.10% SPDR Portfolio Total Stock Market ETF (SPTM) 0.03%
SPDR Russell 1000 ETF (ONEK) 0.10% SPDR Portfolio Large Cap ETF (SPLG) 0.03%
SPDR S&P 1000 ETF (SMD) 0.10% SPDR Portfolio Mid Cap ETF (SPMD) 0.05%
SPDR Russell 2000 ETF (TWOK) 0.10% SPDR Portfolio Small Cap ETF (SPSM) 0.05%
SPDR S&P 500 Growth ETF (SPYG) 0.15% SPDR Portfolio S&P 500 Growth ETF (SPYG) 0.04%
SPDR S&P 500 Value ETF (SPYV) 0.15% SPDR Portfolio S&P 500 Value ETF (SPYV) 0.04%
SPDR S&P 500 High Dividend ETF (SPYD) 0.12% SPDR Portfolio S&P 500 High Dividend ETF (SPYD) 0.07%
SPDR S&P World ex-US ETF (GWL) 0.34% SPDR Portfolio World ex-US ETF (SPDW) 0.04%
SPDR S&P Emerging Markets ETF (GMM) 0.59% SPDR Portfolio Emerging Markets ETF (SPEM) 0.11%
SPDR Bloomberg Barclays Aggregate Bond ETF (BNDS) 0.08% SPDR Portfolio Aggregate Bond ETF (SPAB) 0.04%
SPDR Bloomberg Barclays Long Term Corporate Bond ETF (LWC) 0.12% SPDR Portfolio Long Term Corporate Bond ETF (SPLB) 0.07%
SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF (ITR) 0.12% SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) 0.07%
SPDR Bloomberg Barclays Short Term Corporate Bond ETF (SCPB) 0.12% SPDR Portfolio Short Term Corporate Bond ETF (SPSB) 0.07%
SPDR Bloomberg Barclays Long Term Treasury ETF (TLO) 0.10% SPDR Portfolio Long Term Treasury ETF (SPTL) 0.06%
SPDR Bloomberg Barclays Short Term Treasury ETF (SST) 0.10% SPDR Portfolio Short Term Treasury ETF (SPTS) 0.06%

 

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]

 

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