This week was a quieter one for the ETF industry, with just five new ETFs debuting on the market. FundX, YieldMax, and JPMorgan were among the firms launching new funds. At the same time, 10 funds completed their closures, while another three fund shutdowns were announced.
More New ETFs
REX Shares also rolled out its first ETF. The REX FANG & Innovation Equity Premium Income ETF (FEPI ) is the first ETF from the issuer, which is known for marketing the REX MicroSectors ETNs. The actively managed FEPI applies a covered call strategy to a narrow portfolio of key technology-related stocks selected from a range of subindustries.
The fund’s prospectus says it will always hold eight core companies: (AAPL), (AMZN), (META), (GOOGL), (MSFT), (NFLX), (NVDA),). It will also hold another seven securities selected from the aforementioned subindustries.
FEPI has an expense ratio of 0.65% and lists on the Nasdaq stock market.
During the week, a total of 10 funds ceased to trade as part of their shutdown process. The closures include the following:
Issuers also announced three more closures yet to come. The (EAFD ) and the (EMGD ) will no longer trade after the market close on October 27. The (ROCI ) will cease to trade after the market close on October 20.
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