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New York Life Investments has announced plans to liquidate three ETFs as part of its regular product line-up review. The affected funds are:
- NYLI 500 International ETF (IQIN)
- NYLI CBRE NextGen Real Estate ETF (ROOF)
- NYLI Engender Equality ETF (EQUL)
These funds will cease trading and stop accepting creation or redemption orders after market close on November 20, 2024. Shareholders can expect to receive liquidation proceeds on or about November 27, 2024. This move is part of the company's ongoing efforts to optimize its product offerings.
IndexIQ has announced that its U.S. Real Estate Small Cap ETF has transitioned to track the IQ CBRE NextGen Real Estate Index, now renamed the IQ CBRE NextGen Real Estate ETF. This change includes a reduction in management fees from 0.69% to 0.60%. The ETF aims to provide exposure to U.S. and foreign companies benefiting from significant economic trends over the long term. The index will consist of 75-150 real estate securities and will be rebalanced quarterly, focusing on sectors impacted by digital transformation, eCommerce, and generational change.
IndexIQ has announced that starting September 1, 2022, the IQ U.S. Real Estate Small Cap ETF (ticker: ROOF) will be renamed to the IQ CBRE NextGen Real Estate ETF. The fund will also shift to track the new IQ CBRE NextGen Real Estate Index. In conjunction with these changes, the management fee will decrease from 0.69% to 0.60%.
The new index aims to provide exposure to U.S. companies benefiting from major economic trends, including Digital Transformation, eCommerce Revolution, and Generational Change.
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