Odds & Ends: ETF Launches Sputter

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: 

• Vanguard S&P Mid-Cap 400 ETF (IVOO) 
• Vanguard S&P Mid-Cap 400 Value ETF (IVOV) 
• Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) 
• Vanguard S&P Small-Cap 600 ETF (VIOO) 
• Vanguard S&P Small-Cap 600 Value ETF (VIOV) 
• Vanguard S&P Small-Cap 600 Growth ETF (VIOG) 

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 ProShares Ultra Oil & Gas (DIG) changed its name to the ProShares Ultra Energy and its index from the Dow Jones U.S. Oil & Gas Index to the S&P Energy Select Sector Index. 
• The ProShares UltraShort Oil & Gas (DUG) changed its name to the ProShares UltraShort Energy and its index from the Dow Jones U.S. Oil & Gas Index to the S&P Energy Select Sector Index. 
• The ProShares Ultra Telecommunications (LTL) changed its name to the ProShares Ultra Communication Services and its index from the Dow Jones U.S. Select Telecommunications Index to the S&P Communication Services Select Sector Index. 
• The ProShares UltraShort Consumer Services (SCC) changed its name to the ProShares UltraShort Consumer Discretionary and its index from the Dow Jones U.S. Consumer Services Index to the S&P Consumer Discretionary Select Sector Index. 
• The ProShares UltraShort Basic Materials (SMN) changed its name to the ProShares UltraShort Materials and its index from the Dow Jones U.S. Basic Materials Index to the S&P Materials Select Sector Index. 
• The Proshares UltraShort Consumer Goods (SZK) changed its name to the ProShares UltraShort Consumer Staples and its index from the Dow Jones U.S. Consumer Goods Index to the S&P Consumer Staples Select Sector Index. 
• The ProShares Ultra Consumer Services (UCC) changed its name to the ProShares Ultra Consumer Discretionary and its index from the Dow Jones U.S. Consumer Services Index to the S&P Consumer Discretionary Select Sector Index. 
• The Proshares Ultra Consumer Goods (UGE) changed its name to the ProShares Ultra Consumer Staples and its index from the Dow Jones U.S. Consumer Goods Index to the S&P Consumer Staples Select Sector Index. 
• The ProShares Ultra Basic Materials (UYM) changed its name to the ProShares Ultra Materials and its index from the Dow Jones U.S. Basic Materials Index to the S&P Materials Select Sector Index. 
• The ProShares Short Real Estate (REK) changed its index from the Dow Jones U.S. Real Estate Index to the S&P Real Estate Select Sector Index. 
• The ProShares UltraShort Technology (REW) changed its index from the Dow Jones U.S. Technology Index to the S&P Technology Select Sector Index. 
• The ProShares Ultra Technology (ROM) changed its index from the Dow Jones U.S. Technology Index to the S&P Technology Select Sector Index. 
• The ProShares UltraShort Health Care (RXD) changed its index from the Dow Jones U.S. Health Care Index to the S&P Health Care Select Sector Index. 
• The ProShares Ultra Health Care (RXL) changed its index from the Dow Jones U.S. Health Care Index to the S&P Health Care Select Sector Index. 
• The ProShares UltraShort Utilities (SDP) changed its index from the Dow Jones U.S. Utilities Index to the S&P Utilities Select Sector Index.  
• The ProShares Short Financials (SEF) changed its index from the Dow Jones U.S. Financials Index to the S&P Financial Select Sector Index. 
• The ProShares UltraShort Industrials (SIJ) changed its index from the Dow Jones U.S. Industrials Index to S&P Industrials Select Sector Index. 
• The ProShares UltraShort Financials (SKF) changed its index from the Dow Jones U.S. Financials Index to the S&P Financial Select Sector Index. 
• The ProShares UltraShort Real Estate (SRS) changed its index from the Dow Jones U.S. Real Estate Index to S&P Real Estate Select Sector Index. 
• The ProShares Ultra Utilities (UPW) changed its index from the Dow Jones U.S. Utilities Index to the S&P Utilities Select Sector Index. 
• The ProShares Ultra Real Estate (URE) changed its index from the Dow Jones U.S. Real Estate Index to the S&P Real Estate Select Sector Index. 
• The ProShares Ultra Industrials (UXI) changed its index from the Dow Jones U.S. Industrials Index to the S&P Industrials Select Sector Index. 
• The ProShares Ultra Financials (UYG) changed its index from the Dow Jones U.S. Financials Index to the S&P Financial Select Sector Index. 

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]