ETF Odds & Ends: Another Fund Converts

Plus, additional ETF changes and the launch of two more actively managed ETFs.

Reviewed by: Heather Bell
Edited by: Heather Bell

Perhaps the most remarkable news of the past week was the announcement that Nottingham’s Starboard Investment Trust, in an echo of Dimensional Fund Advisors and Guinness Atkinson, is scheduled to complete its conversion of the Adaptive Growth Opportunities Fund into the Adaptive Growth Opportunities ETF (AGOX) today.

The transition took place using the exemptive relief of Nottingham’s Starboard Investment Trust.



There was also a number of additional launches during the week beyond what has already covered.

May 4 saw the rollout of the Alger 35 ETF (ATFV), which implements a growth strategy focused on “positive dynamic change” to select its portfolio of 35 securities. The fund uses Precidian’s ActiveShares model for nontransparent ETFs. It comes with an expense ratio of 0.55% and lists on the NYSE Arca. ATFV is Alger’s second ETF after launching its Alger Mid Cap 40 ETF (FRTY) earlier this year.

The following day was the launch of the Freedom Day Dividend ETF (MBOX), also actively managed, which focuses on companies that are likely to increase their dividends. The fund’s management team relies on both fundamental and quantitative analysis to select its holdings from the large and midcap universe of U.S. stocks. It comes with an expense ratio of 0.35% and lists on the NYSE Arca.

ETF Changes

Beyond conversions and new launches, there was a host of changes to existing ETFs, with many of them coming from Franklin Templeton affiliate ClearBridge.

Perhaps most surprisingly, the ClearShares Piton Intermediate Fixed Income ETF (BTC), which adopted its current ticker in April, will be reverting back to its original ticker, PIFI, as of tomorrow, May 11.

Meanwhile, effective July 1, the ClearBridge Focus Value ETF (CFCV)—among the first of the nontransparent actively managed ETFs that launched last year—will change its name to the ClearBridge Focus Value ESG ETF, and the ClearBridge All Cap Growth ESG ETF (CACG) will change its name to the ClearBridge All Cap Growth ESG ETF.

The iShares Global Utilities ETF (JXI) also changed its index as of May 3 from the S&P Global 1200 Utilities Index to the S&P Global 1200 Utilities (Sector) Capped Index.

And finally, as of May 3, the expense ratios changed for the following ETFs:

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.