Odds & Ends: GraniteShares Debuts 3 Single-Stock ETFs

The week leading up to the holiday featured 11 launches and the announcement of another round of exchange-traded funds slated to close next year, among other developments.  

Among the launches during the week were three leveraged single-stock ETFs tied to the performance of the stock of Alibaba, Meta Platforms and NVIDIA. The funds and tickers are as follows: 

• GraniteShares 1.75x Long BABA Daily ETF (BABX) 
• GraniteShares 1.5x Long META Daily ETF (FBL) 
• GraniteShares 1.5x Long NVDA Daily ETF (NVDL) 

While FBL and NVDL offer 1.5x the daily return of Meta and NVIDIA’s stocks, BABX offers 1.75% the daily return of shares of Alibaba. Each fund coms with an expense ratio of 1.15% and lists on the Nasdaq stock exchange.  

Also on Tuesday, Virtus rolled out the Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY), which is subadvised by the issuer’s affiliate Stone Harbor Investment Partners. The actively managed fund primarily invests in junk bonds issued in emerging markets and denominated in U.S. dollars. VEMY lists on the NYSE Arca and has an expense ratio of 0.55%.  

Finally, Friday saw the launch of the ClearBridge Sustainable Infrastructure ETF (INFR), which is actively managed and targets companies that derive at least half of their revenues from business activities related to infrastructure.  

The fund also applies its proprietary ESG framework to companies it is considering for the portfolio and takes into account financial metrics in order to select companies with attractive valuations. The fund has an expense ratio of 0.59% and lists on the Nasdaq stock market. 

Closures 

A number of funds closed during the week, and more shutdowns were announced for next year. However, last Friday was the last day of trading for the U.S. Equity Cumulative Dividends Fund-Series 2027 (IDIV).  

And on Thursday, Dec. 15, seven target maturity bond ETFs shuttered after reaching their maturities. Those funds are as follows: 

• Invesco BulletShares 2022 USD Emerging Markets Debt ETF (BSBE) 

• Invesco BulletShares 2022 Corporate Bond ETF (BSCM) 
• Invesco BulletShares 2022 High Yield Corporate Bond ETF (BSJM) 
• Invesco BulletShares 2022 Municipal Bond ETF (BSMM) 
• iShares iBonds Dec 2022 Term Corporate ETF (IBDN) 
• iShares iBonds 2022 Term High Yield and Income ETF (IBHB) 

• iShares iBonds Dec 2022 Term Treasury ETF (IBTB) 

The ETFMG 2x Daily Alternative Harvest ETF (MJXL) will see its last day of trading on Dec. 28.  

Next year, Jan. 11 will be the last day of trading for the First Trust Chindia ETF (FNI), while the Capital Link Global Green Energy Transport & Technology Leaders ETF (EKAR) will cease to trade after Jan. 11.  

Finally, the Principal Ultra-Short Active Income ETF (USI) is expected to cease trading after Feb. 13, 2023. 

Other Changes 

As of Friday, iShares reduced the expense ratios on eight of its ETFs. The affected funds and changes are as follows: 

• iShares MSCI Global Multifactor ETF (ACWF), from 0.35% to 0.20% 
• iShares MSCI Emerging Markets Multifactor ETF (EMGF), from 0.45% to 0.25% 
• iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB), from 0.06% to 0.04% 
• iShares 10+ Year Investment Grade Corporate Bond ETF (IGLB), from 0.06% to 0.04% 
• iShares 1-5 Year Investment Grade Corporate Bond ETF (IGSB), from 0.06% to 0.04% 
• iShares MSCI Intl SmallCap Multifactor ETF (ICSF), from 0.40% to 0.23% 
• iShares MSCI USA SmallCap Multifactor ETF (SMLF), from 0.30% to 0.15% 
• iShares Semiconductor ETF (SOXX), from 0.40% to 0.35% 

As of Jan. 3, the FlexShares Ready Access Variable Income Fund (RAVI) will change its name to the FlexShares Ultra-Short Income Fund. Meanwhile, as of March 17, the VanEck Vietnam ETF (VNM) will change its index from the MVIS Vietnam Index to the MarketVector Vietnam Local Index. 

Contact Heather Bell at [email protected]