ETF Odds & Ends: 2022’s Slowest Month
The week ending July 29 saw a limited number of new ETFs debut, which led to July being the slowest month of the year so far in terms of launches. Just 23 new funds rolled out during the month, bringing the total for the first seven months of the year to 229. Last year, the first seven months saw 245 new ETFs.
Among the four ETFs that debuted during the week was the Touchstone US Large Cap Focused ETF (LCF). Touchstone launched its first fund on Monday, and LCF followed on Friday. The new actively managed fund takes an approach that targets companies trading below their intrinsic value with sustainable competitive advantages, according to its prospectus.
LCF comes with an expense ratio of 0.69% and lists on Cboe Global Markets.
Completed Closures
A number of ETFs also closed during the week, with the ARK Transparency ETF (CTRU) seeing its last day of trading on July 26. It was the first fund closure by the ETF issuer.
A few days later, another three funds shut down. They included the following:
Other Changes
A number of existing ETFs are undergoing major changes. As of Friday, the Absolute Core Strategy ETF (ABEQ) changed its name to the Absolute Select Value ETF.
As of Aug. 1, the First Trust Global Engineering and Construction ETF (FLM) will change its name to the First Trust Alerian U.S. NextGen Infrastructure ETF and its ticker to RBLD. At the same time, the fund will change its index from the ISE Global Engineering and Construction Index to the Alerian U.S. NextGen Infrastructure Index.
As of Aug. 9, the iClima Distributed Smart Energy ETF (SHFT) will change its name to the SoFi Smart Energy ETF and its ticker to ENRG. On the same date, the SoFi Gig Economy ETF (GIGE) will change its name to the SoFi Be Your Own Boss ETF and its ticker to BYOB.
Finally, as of Sept. 23, the Roundhill BITKRAFT Esports & Digital Entertainment ETF (NERD) will change its name to the Roundhill Video Games ETF and its index from the Roundhill BITKRAFT Esports Index to the Nasdaq CTA Global Video Games Software Index.
Contact Heather Bell at heather.bell@etf.com
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