TDX/db-X, WisdomTree, and VelocityShares Changes

June 21, 2011 by  
Filed under Commentary, ETFs, ETNs

Sponsors of ETPs  have been very busy lately making changes to their existing line-ups.  Deutsche Bank renamed the five TDX target date ETFs last Friday (6/17/11), WisdomTree made various name, ticker, and index changes to seven of its ETFs yesterday (6/20/11), and two VelocityShares ETNs will undergo share splits next Monday (6/27/11).

Deutsche Bank made its debut as a solo ETF provider earlier this month, and effective 6/17/11 it rebranded the xShares/TD Ameritrade target date funds acquired in June 2010.  The funds will also get new CUSIPs, but the ticker symbols will not change (revised prospectus):

  • TDX Independence 2010 ETF becomes db-X 2010 Target Date Fund (TDD)
  • TDX Independence 2020 ETF becomes db-X 2020 Target Date Fund (TDH)
  • TDX Independence 2030 ETF becomes db-X 2030 Target Date Fund (TDN)
  • TDX Independence 2040 ETF becomes db-X 2040 Target Date Fund (TDV)
  • TDX Independence In-Target ETF becomes db-X In-Target Date Fund (TDX)

The Deutsche Bank website strategy for its U.S. ETPs is currently a mess with products scattered across three websites and no cross-links between them:

WisdomTree’s previously announced changes to seven of its equity ETFs became effective yesterday (6/20/11).  Six ETFs now have new names and underlying indexes, and four of them got new ticker symbols.  One fund received a name change only.  The changes are summarized below:

  • WisdomTree International Real Estate Fund (DRW) becomes WisdomTree Global ex-U.S. Real Estate Fund (DRW) and has broader global real estate exposure with the addition of emerging markets.
  • WisdomTree International Utilities Sector Fund (DBU) becomes WisdomTree Global ex-U.S. Utility Fund (DBU) and has broader global utilities exposure with the addition of emerging markets.
  • WisdomTree International Basic Materials Sector Fund (DBN) becomes WisdomTree Commodity Country Equity Fund (CCXE) and is a more diversified commodity-focused equity strategy that also adds emerging markets.
  • WisdomTree International Energy Sector Fund (DKA) becomes WisdomTree Global Natural Resources Fund (GNAT) and is a more diversified energy/natural resources-focused equity strategy that also adds emerging markets.
  • WisdomTree Pacific ex-Japan Total Dividend Fund (DND) becomes WisdomTree Asia Pacific ex-Japan Fund (AXJL) with an expanded portfolio becoming a broader Asia-Pacific regional strategy while adding emerging markets.
  • WisdomTree Pacific ex-Japan Equity Income Fund (DNH) becomes WisdomTree Australia Dividend Fund (AUSE) and changes from a majority Australia weighted portfolio to a pure Australia dividend strategy.
  • WisdomTree World ex-U.S. Growth Fund (DNL) becomes WisdomTree Global ex-U.S. Growth Fund (DNL) which is a name change only.

VelocityShares, a relative newcomer to the ETP space, announced share splits for its two inverse volatility ETNs whose share prices have gained significantly since launch:

  • VelocityShares Daily Inverse VIX Short Term ETN (XIV) will undergo a 10-for-1 split effective 6/27/11, which should reduce its trading price from around $160 to about $16.
  • VelocityShares Daily Inverse VIX Medium Term ETN (ZIV) will undergo an 8-for-1 split effective 6/27/11, which should reduce its trading price from around $130 to about $16.

Disclosure covering writer, editor, and publisher:  No positions in any of the securities mentioned.  No positions in any of the companies or ETF sponsors mentioned.  No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.

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