ETF Odds & Ends: 23 ProShares To Split

Plus, two closures and some interesting changes to existing ETFs.

Reviewed by: Heather Bell
Edited by: Heather Bell

Last week, it was announced that 23 ProShares ETFs are set to undergo share splits later in May, not to mention other changes that either occurred or are expected in the coming weeks.

The share splits include eight forward splits and 15 reverse splits. The forward splits are set to become effective May 25 and are as follows:

The reverse splits will be completed in two phases, with the first becoming effective as of the start of trading on May 25:

The remainder of the reverse splits will become effective as of the start of trading on the next day, May 26, and are as follows:

Index, Ticker Changes

There were also a number of other changes to existing ETFs that were either completed last week or were announced.

As of May 10, the IQ MacKay Municipal Insured ETF (MMIN) changed its index from the Bloomberg Barclays Municipal Insured Bond Index to the Bloomberg Barclays Municipal All Insured Bond Index.

As of May 11, the ClearShares Piton Intermediate Fixed Income ETF (BTC) reversed a recent ticker change and reverted to its previous ticker “PIFI.”

On July 19, the $2.1 billion iShares Transportation Average ETF (IYT) is changing its index from the Dow Jones Transportation Average Index to the S&P Transportation Select Industry FMC Capped Index. The Dow Jones Transportation Average is even older than the Dow Jones Industrial Average and is a price-weighted index.

As of Aug. 18, the $10 million Xtrackers MSCI ACWI ex U.S.A. ESG Leaders Equity ETF (ACSG), which launched in late 2018, will change its name to the Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF and its ticker to EMCR. It will also change its index from the MSCI ACWI ex USA ESG Leaders Index to the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index NTR.

Launches, Closures

In addition to the launches already covered by last week, there were some other rollouts. These included the debuts of the First Trust New York Municipal High Income ETF (FMNY) and the SonicShares Airlines, Hotels, Cruise Lines ETF (TRYP), which both launched on the NYSE Arca.

FMNY is an actively managed fund covering municipal debt issued by the state of New York or on its behalf, according to the prospectus. The fund comes with an expense ratio of 0.50%. Meanwhile, TRYP invests primarily in companies listed in developed markets that are involved in the operation of hotels, airlines and cruise lines. It has an expense ratio of 0.75%.

May 14 was the last day of trading for two ETFs. The WBI BullBear Rising Income 3000 ETF (WBIE) and the WBI BullBear Trend Switch US Total Return ETF (WBIN) were both actively managed and had less than $5 million in assets under management, despite being launched in 2014 and 2019, respectively.

Contact Heather Bell at [email protected]

Heather Bell is a former managing editor of 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.