ETF Odds & Ends: A Fresh Roster Of Closures

Plus, a handful of new launches characterize the week.

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Reviewed by: Heather Bell
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Edited by: Heather Bell

This week, we saw several launches, including new funds from USCF and Pacer. Among the ETF debuts was the Wednesday rollout of the Gotham 1000 Value ETF (GVLU).

The actively managed ETF uses a systematic, bottom-up valuation approach to select midcap and large cap U.S. companies. The fund lists on the NYSE Arca with an expense ratio of 0.50%.  

On Thursday, PIMCO debuted the PIMCO Senior Loan Active Exchange-Traded Fund (LONZ), an actively managed ETF that primarily invests in senior loans. The fund comes with an expense ratio of 0.52% and lists on the NYSE Arca. 

Closures 

During the week, there were also a number of announced and completed closures. Friday saw two ETFs record their last day of trading. The iClima Climate Change Solutions ETF (CLMA) and the Infusive Compounding Global Equities ETF (JOYY) both failed to gather significant assets. 

During the week, another three ETF closures were also announced, with the affected funds all set to shut down after the close of business on June 24: 

The new additions bring the number of closures expected for 2022 by the end of June to 42, almost double the number of closures seen during the first half of 2021.  

Changes To Existing Funds 

A number of existing ETFs were modified during the week or will be in the future:  

The Principal U.S. Mega-Cap ETF (USMC) dropped its index, the NASDAQ US Mega Cap Select Leaders Index, to adopt an active management approach as of Friday.  

The National Investment Services Ultra-Short Duration Enhanced Income ETF (AWTM) changed its name to the AWTM Ultra-Short Duration Enhanced Income ETF on Monday. 

Two funds switched their brand names in the wake of Franklin Templeton acquiring Legg Mason. The Legg Mason Low Volatility High Dividend ETF (LVHD) and the Legg Mason International Low Volatility High Dividend ETF (LVHI) are now respectively known as the Franklin U.S. Low Volatility High Dividend Index ETF and the Franklin International Low Volatility High Dividend Index ETF. 

Finally, as of Friday, the Global X Cannabis ETF (POTX) underwent a 1-for-6 reverse split.  

 

Contact Heather Bell at [email protected] 

Heather Bell is a former managing editor of etf.com. 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.