Volatility ETNs Change Tickers

Volatility ETNs Change Tickers

Plus, two new biblical smart beta ETFs debut, while several VanEck and First Trust ETFs get a price shake-up.

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Reviewed by: Lara Crigger
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Edited by: Lara Crigger

Effective today, two volatility ETNs have changed their tickers: The $783 million iPath Series B S&P 500 VIX Short Term Futures ETN (VXXB) will now trade under the ticker VXX, while the $19 million iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZB) will trade under the ticker VXZ.

These tickers should sound familiar: VXX and VXZ were the tickers for similar volatility ETNs that matured at the end of January (read: "Big Shift In Volatility ETNs This Week").

These new Series B versions offer additional investor-friendly features that their previous incarnations did not, including a call feature, lower expense ratios, the ability to split shares as needed, and so on.

Biblical ETFs Launch

Also debuting today are two smart beta ETFs from ETF newcomer Timothy Plan, an asset manager focused on "biblically responsible" investing.

Managed by Timothy Partners, Ltd, the funds implement a number of ethically driven screens, excluding companies involved in the production or distribution of alcohol, tobacco, gambling, abortion, pornography, or which promote "anti-family entertainment" or "alternative lifestyles."

The Timothy Plan US Large Cap Core ETF (TPLC) tracks a volatility-weighted index of U.S. large cap stocks created by Victory Capital Management, the fund's subadvisor. More volatile stocks have a lower weighting in the benchmark, according to the prospectus.

TPLC's investable universe consists of the 500 largest U.S. large caps with positive earnings in each of the four most recent quarters. From this, ethical screens are implemented to eliminate offending companies. Exposure to any particular sector is capped at 25%.

Meanwhile, the Timothy Plan High Dividend Stock ETF (TPHD) tracks a similarly constructed volatility-weighted index. From an index of the largest 100 dividend-yielding U.S. large caps with positive earnings over the past four quarters, screens are implemented to remove nonbiblical stocks.

The funds are rebalanced twice yearly. They trade on the NYSE Arca and each cost 0.52%.

VanEck, First Trust Price Changes

Effective today, 12 VanEck ETFs and four First Trust ETFs are getting new expense ratios. Most of these price changes are minimal—a few basis points, at most—and are tied to annual fee waivers implemented for each of the funds to keep operating expenses from exceeding a certain contractual threshold.

Among the impacted ETFs are the $9.2 billion VanEck Vectors Gold Miners ETF (GDX) and the $3.7 billion VanEck Vectors Junior Gold Miners ETFs (GDXJ), two large and highly traded gold mining ETFs.

The affected ETFs are listed in the table below:

 

ETFs With Changes To Expense Ratio
TickerFundOld Expense RatioNew Expense Ratio
AFKVanEck Vectors Africa Index ETF0.84%0.78%
BRFVanEck Vectors Brazil Small-Cap ETF0.59%0.60%
CRAKVanEck Vectors Oil Refiners ETF0.59%0.60%
EGPTVanEck Vectors Egypt Index ETF0.94%0.98%
GDXVanEck Vectors Gold Miners ETF0.53%0.52%
GDXJVanEck Vectors Junior Gold Miners ETF0.54%0.53%
HAPVanEck Vectors Natural Resources ETF0.49%0.50%
ISRAVanEck Vectors Israel ETF0.59%0.60%
REMXVanEck Vectors Rare Earth/Strategic Metals ETF0.57%0.59%
RSXVanEck Vectors Russia ETF0.67%0.65%
SCIFVanEck Vectors India Small-Cap Index ETF0.72%0.83%
VNMVanEck Vectors Vietnam ETF0.66%0.68%
DALIFirst Trust Dorsey Wright DALI 1 ETF0.92%0.91%
FIWFirst Trust Water ETF0.56%0.55%
FNIFirst Trust Chindia ETF0.60%0.59%
FTCSFirst Trust Capital Strength ETF0.61%0.60%

Source: FactSet; data as of 5/1/2019

Contact Lara Crigger at [email protected]

Lara Crigger is a former staff writer for etf.com and ETF Report.