ETF Odds & Ends: TQQQ Splits

ETF Odds & Ends: TQQQ Splits

In addition to a number of ProShares ETF splits, there were several name changes and one closure.

Reviewed by: Heather Bell
Edited by: Heather Bell

Last week saw a number of developments in the ETF space, including 12 ProShares ETFs undergoing splits.

The actions included two funds, the $5 billion ProShares UltraPro QQQ ETF (TQQQ) and the $63 million ProShares Ultra Health Care ETF (RXL) experiencing 2-for-1 forward splits on Jan. 21.

Another 10 funds underwent reverse splits on the same day. The 1-for-2 reverse splits affected the ProShares UltraShort MidCap400 ETF (MZZ), the ProShares UltraShort SmallCap600 ETF (SDD), the ProShares UltraShort Utilities ETF (SDP), the Proshares UltraShort Industrials ETF (SIJ), the ProShares UltraShort Financials ETF (SKF) and the ProShares UltraPro Short MidCap400 (SMDD).

Meannwhile, the ProShares UltraShort QQQ ETF (QID) and the ProShares UltraShort Russell2000 ETF (TWM) underwent 1-for-4 reverse splits. The ProShares UltraPro Short S&P500 ETF (SPXU) and the ProShares UltraPro Short Russell2000 ETF (SRTY) both underwent 1-for-5 reverse splits.

Name Changes

A number of ETFs from different issuers are scheduled to undergo name or index changes.  

On Jan. 28, the Xtrackers FTSE Developed ex US Comprehensive Factor ETF (DEEF) will change its name to the Xtrackers FTSE Developed ex US Multifactor ETF, while the Xtrackers Russell 1000 Comprehensive Factor ETF (DEUS) will change its name to the Xtrackers Russell US Multifactor ETF.

Meanwhile, the Virtus Newfleet Dynamic Credit ETF (BLHY) will change its name to the Virtus Newfleet High Yield Bond ETF as of March 22.

Shortly after that, on March 24, Invesco will change the names and indexes on two of its funds. The Invesco Cleantech ETF (PZD) will change its name to the Invesco MSCI Sustainable Future ETF and change its index from The Cleantech Index to the MSCI Global Environment Select Index. The Invesco VRDO Tax-Free Weekly ETF (PVI) will change its name to the Invesco VRDO Tax-Free ETF and its index from the Bloomberg U.S. Municipal AMT-Free Weekly VRDO Index to the ICE US Municipal AMT-Free VRDO Constrained Index.

1 Closure

Finally, 2021 has seen the demise of the Principal Active Global Dividend Income ETF (GDVD), which ceased trading at the close of business on Jan. 19. The fund launched in May 2017 and enjoyed strong inflows in its first year of existence before experiencing even stronger outflows during the last six months of 2020. Dividend funds were hit hard during the coronavirus-related market crash last year.

The shutdown of GDVD is the third closure of 2021, following on the heels of the closures of two of Northern Trust’s FlexShares 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.