During the week, several new ETFs debuted on the U.S. market, but the ETF industry was fairly quiet overall. Just five funds launched from issuers including KraneShares, Morgan Stanley subsidiary Eaton Vance, Direxion, and American Beacon.
Two funds are undergoing name changes as well. The $300 million NEOS Enhanced Income Cash Alternative ETF is now known as the NEOS Enhanced Income 1-3 Month T-Bill ETF (CSHI). However, it still has the same ticker and strategy.
The $71 million TrueShares Low Volatility Equity Income ETF will change its name to the Opal Dividend Income ETF (DIVZ) as of February 20. The document filed with the SEC says there will be no change to the ticker, strategy, or fees.
And finally, during the week, AXS Investments announced that it will close the AXS Cannabis ETF (THCX). The fund’s last day of trading will be February 21. It launched in June 2019 and currently has around $15 million in assets under management.
Although only 10 funds have completed their closures this year, another 30 ETFs will close over the next month or so.
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