ETF Odds & Ends: iShares Makes Changes
As a result of a deal announced in December, several iShares ETFs tracking Morningstar indexes will be seeing some changes.
Nine funds will undergo index and name changes effective March 19, while those same funds will undergo forward splits as of April 1. Those changes and actions are as follows:
The iShares Morningstar Large-Cap ETF (JKD) will change its name to the iShares Morningstar U.S. Equity ETF, its ticker to ILCB and its index from the Morningstar US Large Core Index to the Morningstar US Large-Mid Cap Index, before undergoing a 4-for-1 split.
The iShares Morningstar Large-Cap Growth ETF (JKE) will change its name to the iShares Morningstar Growth ETF, its ticker to ILCG and its index from the Morningstar US Large Growth Index to the Morningstar US Large-Mid Cap Broad Growth Index, before undergoing a 5-for-1 split.
The iShares Morningstar Large-Cap Value ETF (JKF) will change its name to the iShares Morningstar Value ETF, its ticker to ILCV and its index from the Morningstar US Large Value Index to the Morningstar US Large-Mid Cap Broad Value Index, before undergoing a 2-for-1 split.
The iShares Morningstar Mid-Cap ETF (JKG) will change its ticker to IMCB and its index from the Morningstar US Mid Core Index to the Morningstar US Mid Cap Index, before undergoing a 4-for-1 split.
The iShares Morningstar Mid-Cap Growth ETF (JKH) will change its ticker to IMCG and its index from the Morningstar US Mid Growth Index to the Morningstar US Mid Cap Broad Growth Index, before undergoing a 6-for-1 split.
The iShares Morningstar Mid-Cap Value ETF (JKI) will change its ticker to IMCV and its index from the Morningstar US Mid Value Index to the Morningstar US Mid Cap Broad Value Index, before undergoing a 3-for-1 split.
The iShares Morningstar Small-Cap ETF (JKJ) will change its ticker to ISCB and its index from the Morningstar US Mid Value Index to Morningstar US Mid Cap Broad Value Index, before undergoing a 4-for-1 split.
The iShares Morningstar Small-Cap Growth ETF (JKK) will change its ticker to ISCG and its index from the Morningstar US Small Growth Index to the Morningstar US Small Cap Broad Growth Extended Index, before undergoing a 6-for-1 split.
The iShares Morningstar Small Cap Value ETF (JKL) will change its ticker to ISCV and its index from the Morningstar US Small Value Index to the Morningstar US Small Cap Broad Value Extended Index, before undergoing a 3-for-1 split.
Additional Splits
iShares isn’t the only firm implementing splits for some of its funds. The AdvisorShares Ranger Equity Bear ETF (HDGE) underwent a 1-for-10 reverse split effective Feb. 8, while three of the REX MicroSectors ETNs underwent forward splits on Feb. 12.
The MicroSectors FANG+ Index 2X Leveraged ETNs due January 8, 2038 (FNGO) underwent a five-for-1 split, while the MicroSectors FANG+ ETNs due January 8, 2038 (FNGS) underwent a 4-for-1 split. The MicroSectors FANG+ Index 3X Leveraged ETNs due January 8, 2038 (FNGU) underwent a 10-for-1 split.
DWS Expense Ratio Changes
Six DWS ETFs saw their expense ratios increase by 1 basis point each, effective Feb. 8. The affected funds are as follows:
The Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) saw its expense ratio increase from 0.40% to 0.41%.
The Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) saw its expense ratio increase from 0.35% to 0.36%.
The Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) saw its expense ratio increase from 0.65% to 0.66%.
The Xtrackers MSCI Europe Hedged Equity ETF (DBEU) saw its expense ratio increase from 0.45% to 0.46%.
The Xtrackers MSCI Eurozone Hedged Equity ETF (DBEZ) saw its expense ratio increase from 0.45% to 0.47%.
The Xtrackers MSCI Japan Hedged Equity ETF (DBJP) saw its expense ratio increase from 0.45% to 0.46%.
Other Developments
Effective Feb. 28, the Capital Link NextGen Protocol ETF (KOIN) will change its name to the Capital Link Global Fintech Leaders ETF and its index from the ATFI Global NextGen Fintech Index to the ATFI Global Fintech Leaders Index.
Effective April 6, the Capital Link NextGen Vehicles & Technology ETF (EKAR) will change its name to the Capital Link Global Green Energy Transport and Technology Leaders ETF and its index from the ATFI NextGen Transport Technology Index to the Global Green Energy Transport and Technology Leaders Index.
Finally, on Feb. 10, Virtus launched the Virtus Newfleet ABS/MBS ETF (VABS), which is actively managed and focused on generating income, according to its prospectus. The fund comes with an expense ratio of 0.39%.
Contact Heather Bell at hbell@etf.com
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