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ProShares, First Trust Make Changes To ETFs

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This week saw a few issuers making expense ratio changes to their ETFs or splitting shares. Among them was ProShares, which announced splits for a dozen of its funds, effective Jan. 21, 2021.

Those scheduled splits include 2-for-1 forward splits for the ProShares Ultra Health Care ETF (RXL) and the ProShares UltraPro QQQ ETF (TQQQ).

There are also 10 planned reverse splits, which include the following:

Similarly, effective as of the close of markets today, Jan. 8, Direxion is enacting share splits on four of its funds. They are as follows:

Expense Ratio Changes

First Trust and ALPS both made some changes to ETF expense ratios. For ALPS, this meant a 10-basis-point reduction in the expense ratio of the ALPS Clean Energy ETF (ACES) from 0.65% to 0.55%, while First Trust changed the fees on eight of its funds, effective Jan. 4, 2021.

Those changes are as follows:

Contact Heather Bell at hbell@etf.com

 

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