Although 14 new ETFs debuted in the U.S. this past week, closure announcements came in even stronger, largely due to Global X pruning its lineup.
Launches during the week included funds from BondBloxx, WisdomTree, Innovator, JPMorgan, and Range ETFs.
The Tema Neuroscience and Mental Health ETF (MNTL) was among this week’s launches. The fund is actively managed and targets pure-play companies that generate at least half of their revenue from products and services that are used in the diagnosis and treatment of neurological and mental health illnesses. The fund has an expense ratio of 0.75% and is listed on the Nasdaq stock exchange.
The Mohr Industry ETF (INAV) also launched during the week. It is an active fund that uses a tactical strategy to invest in other ETFs targeting specific sectors or industries, but it can allocate to broad index-based ETFs or switch the assets into money market funds when warranted. The fund has an expense ratio of 1.20% and is listed on the CBOE BZX Exchange.
Defiance launched the Defiance Treasury Alternative Yield ETF (TRES), which is sub-advised by ZEGA Financial. The actively managed fund combines exposure to short-term U.S. Treasury securities with an options overlay to generate income. The fund has an expense ratio of 0.75% and is listed on the Nasdaq stock market.
During the week, Global X announced it would be trimming its lineup of more than 100 ETFs by closing 19 of its smallest products. The number includes 10 of the firm’s 11 China sector ETFs among other funds. February 16 is expected to be their last day of trading. The affected ETFs are as follows:
Another three ETFs completed their closures during the week. These include the following:
The week also saw material changes made to existing ETFs. Among them, GraniteShares changed the levels of leveraged exposure on 30 ETFs, including funds that are currently trading and some in registration. The GraniteShares single-stock ETFs will no longer offer leveraged or inverse leveraged ETFs offering 1.25x, 1.5x, or 1.5x exposures. Instead, those ETFs will all uniformly provide 2x exposure.
Four iShares ETFs also underwent some key changes as follows:
Looking ahead, the Strategy Shares Gold-Hedged Bond ETF (GLDB) will change its ticker to GOLY as of February 1.
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