After seeing dramatic price increases over the past 12 months, three ETNs covering the FANG stocks and their peers are set to undergo forward splits effective Feb. 12. The $212 million MicroSectors FANG+ Index 2X Leveraged ETNs due January 8, 2038 (FNGO) will undergo a 5-for-1 split, while the $71 million MicroSectors FANG+ ETNs due January 8, 2038 (FNGS) will undergo a 4-for-1 split. The $1.5 billion MicroSectors FANG+ Index 3X Leveraged ETNs due January 8, 2038 (FNGU) will undergo a 10-for-1 split.
Splits were also announced for other ETFs in the future, including five funds offered by Direxion. Those splits are effective March 1:
The Direxion Daily S&P 500 High Beta Bull 3x Shares (HIBL) will undergo a 7-for-1 forward split.
The Direxion Daily Technology Bull 3X Shares (TECL) will undego a 10-for-1 forward split.
The Direxion Daily Semiconductor Bull 3X Shares (SOXL) will undergo a 15-for-1 forward split.
The Direxion Daily Financial Bear 3X Shares (FAZ) will undergo a 1-for-8 reverse split.
The Direxion Daily Small Cap Bear 3X Shares (TZA) will undergo a 1-for-8 reverse split.
And on March 15, DBX Advisors is expected to propose for board approval a 5-to-4 forward split for the Xtrackers USD High Yield Corporate Bond ETF (HYLB).
Expense Ratio Changes
Meanwhile, all 11 of the Select Sector SPDR ETFs saw their expense ratios reduced from 0.13% to 0.12% as of Jan. 31. The affected funds are as follows:
Name & Index Changes
The week also saw a couple of name or index changes taking effect. On Feb. 1, the Global X YieldCo & Renewable Energy Income ETF (YLCO) changed its name to the Global X Renewable Energy Producers ETF and its index from the Indxx YieldCo & Renewable Energy Income Index to the Indxx Renewable Energy Producers Index. Its ticker changed to RNRG.
On Feb. 5, the ERShares Entrepreneur 30 ETF (ENTR) changed its name to the ERShares Entrepreneurs ETF and the ERShares Non-US Small Cap ETF (ERSX) changed its name to the ERShares NextGen Entrepreneurs ETF.
Several products launched during the week beyond what ETF.com was able to cover. On Feb. 3, AdvisorShares rolled out the actively managed AdvisorShares Alpha DNA Equity Sentiment ETF (SENT) with an expense ratio of 1.12%.
On Friday, Feb. 5, UBS rolled out another seven 2x leveraged ETNs. They are as follows:
Each comes with an expense ratio of 0.95%.
Contact Heather Bell at firstname.lastname@example.org