ETF fee changes, launches, and closures.

• iShares has decided to cut the expense ratio on 11 of their ETFs effective August 4th. These 11 ETFs include eight bond ETFs and three environmental, social and governance equity ETFs. The equity ETFs have experienced the largest cuts, which are almost half of their original expense ratio. The bond ETFs experienced an expense ratio cut of 2-10 basis points. The ETFs that saw these cuts are as follows: STIP, IMTB, ISTB, ILTB, IUSB, FALN, IAGG, ESGD, ESGU, and ESGE.

• Last week, ProShares announced that it would be shutting down 13 funds by September 6th, 2017. The funds are below:
  • ProShares USD Covered Bond (COBO)
  • ProShares German Sovereign/Sub-Sovereign ETF (GGOV)
  • ProShares Hedged FTSE Europe ETF (HGEU)
  • ProShares Hedged FTSE Japan ETF (HGJP)
  • ProShares Ultra Junior Miners (GDJJ)
  • ProShares Short S&P Regional Banking (KRS)
  • ProShares Ultra S&P Regional Banking (KRU)
  • ProShares UltraShort MSCI Mexico Capped IMI (SMK)
  • ProShares UltraShort Oil & Gas Exploration & Production (SOP)
  • ProShares UltraShort 3-7 Year Treasury (TBZ)
  • ProShares UltraShort TIPS (TPS)
  • ProShares Ultra MSCI Mexico Capped IMI (UMX)
  • ProShares Ultra Oil & Gas Exploration & Production (UOP)

• J.P. Morgan has filed for five new factor-based ETFs. Each of the five funds will track an index derived from the Russel 1000 Index. At this time, ticker symbols, listing exchanges, nor expense ratios were readily available. The five funds are as follows:
  • The JPMorgan U.S. Dividend ETF
  • The JPMorgan U.S. Minimum Volatility ETF
  • The JPMorgan U.S. Momentum Factor ETF
  • The JPMorgan U.S. Quality Factor ETF
  • The JPMorgan U.S. Value Factor ETF

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