The team at a $65-billion-AUM ETF shop is preparing to wind down a bond fund shortly after the fund's sixth birthday next month.
| Michael Lynn Sapir ProShare Advisors, ProFund Advisors CEO | |
On Monday, the
ProShares [
profile] folks
revealed that they
plan to
liquidate the
ProShares S&P 500 Bond ETF (SPXB on the
NYSE Arca, Inc.) on May 6. The fund is scheduled to be delisted from the exchange on April 22, after which creation units will also be no longer accepted.
SPXB's inception date was May 1, 2018, and it has an expense ratio of 15 basis points. The passively managed ETF is a series of
ProShares Trust and now has a little more than $9 million in AUM, according to
ETF.com and
Morningstar.
Bethesda, Maryland-based ProShare Advisors serves as SPXB's investment advisor, and
S&P Dow Jones Indices LLC serves as index provider. The fund's PM team includes senior portfolio manager
Alexander Ilyasov (who has PMed the fund since April 2019) and PM
James Linneman (who has PMed the fund since March 2022).
SPXB is designed to track the
S&P 500/Market Axess Investment Grade Corporate Bond Index. That index, in turn, tracks investment grade bonds issued by companies in the S&P 500 stock index.
The liquidating ETF's other service providers include:
Citi Fund Services Ohio, Inc. as regulatory administration services provider;
JPMorgan Chase Bank, N.A. as administrator, custodian, and index receipt agent; and
SEI Investments Distribution Co. as distributor. 
Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE