Odds & Ends: ETF Launches Sputter

Odds & Ends: ETF Launches Sputter

However, a significant number of funds are undergoing material changes.

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Reviewed by: Heather Bell
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Edited by: Heather Bell

This week was pretty thin on exchange-traded fund launches, with just four making their debuts this week. Among them was the American Century Multisector Floating Income ETF (FUSI), an actively managed fixed income fund that rolled out on Thursday.  

FUSI uses a sector rotation strategy that relies on macroeconomic data, technical analysis and fundamental research. The fund comes with an expense ratio of 0.27% and lists on the NYSE Arca.  

There was also one closure during the week, with the Generation Z ETF (ZGEN) ceasing to trade after the close of business on Friday. The actively managed ETF launched in December 2021 but failed to gather assets.  

Other Changes 

There were a large number of material changes to existing ETFs, including 2-for-1 forward share splits on six Vanguard ETFs that became effective on Tuesday. The affected funds are as follows: 

Two Changebridge ETFs changed their names as of Monday. The Changebridge Capital Long/Short Equity ETF (CBLS) is now known as the Changebridge Long/Short Equity ETF, and the Changebridge Sustainable Equity ETF (CBSE) is now called the Changebridge Select Equity ETF.  

On March 6, the Harbor All-Weather Inflation Focus ETF (HGER) changed its name to the Harbor Commodity All-Weather Strategy ETF and its index from the Quantix Inflation Index to the Quantix Commodity Index. 

And on Thursday, the GraniteShares HIPS U.S. High Income ETF (HIPS) changed its index from the TFMS HIPS Index to the EQM High Income Pass-Through securities Index. 

Effective March 17, 23 ProShares ETFs made changes to their names or indexes or both. Those changes are as follows: 

The changes bring the underlying indexes of the ProShares funds into alignment with the indexes underlying the widely used Select Sector SPDR ETFs. 

 

Contact Heather Bell at [email protected] 

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.