New York-based ETF provider Direxion is changing the underlying index of the Direxion Daily Small Cap Bull 1.25X Shares (NYSE Arca: LLSC). As of 1 December 2017, the fund will switch from using the Russell 2000 Index to the S&P Small Cap 600 Index.

ALPS ETF Trust has changed the underlying index for the ALPS Equal Sector Weight ETF (NYSE Arca: EQL). The fund previously tracked the BofA Securities Merrill Lynch Equal Sector Weight Index but will now replicate the NYSE Select Sector Equal Weight Index.

Arnaud Linas, global head of ETFs & indexing at Lyxor, announces a full review of Lyxor’s ETF range, including changes to fund structure, domiciliation and replication, measures to enhance liquidity, and fund liquidations.

Deutsche Asset Management has announced that it is renaming its range of US-listed ETFs to Xtrackers to harmonise the fund names with the recent changes to European and Asian ETFs and ETCs. Fiona Bassett, head of passive asset management, Americas, Deutsche Asset Management, commented: “As an asset manager with deep roots in Europe, it was important for our global businesses to align to better capitalize on our truly global reach.

FTSE Russell has declined to follow fellow index provider MSCI by deciding not to include China A-Shares in the emerging markets classification of the FTSE Global Equity Index Series. The London-headquartered index provider said China A-Shares would remain on the watch list for possible future inclusion. Saudi Arabia has also been made wait, though FTSE Russell said the country was close to upgrade and will be assessed again in March 2018.

Invesco, the asset manager behind the PowerShares brand of ETFs, has agreed a deal to acquire Guggenheim Investments’ ETF business for $1.2 billion in cash. The business includes around $37 billion of assets under management, comprising ETFs such as the $13.8 billion Guggenheim S&P 500 Equal Weight ETF (RSP) and the popular BulletShares suite of defined-maturity bond ETFs. Martin L. Flanagan, president and CEO of Invesco, said: “Guggenheim Investments’ ETF business is highly complementary to Invesco’s, and will enable us to provide one of the industry’s most comprehensive and innovative ranges of smart beta ETFs.”

Sage Advisory Services has launched the Sage ESG Intermediate Credit Index, offering a performance reference for the intermediate credit market of US firms with strong environmental, social & governance (ESG) characteristics. The Austin-based, fixed income investment-management firm harnesses its own proprietary ESG factor analysis framework when constructing the index. 

Indxx has launched a thematic index – the Indxx Climate Change Index – tracking global companies from developed markets that provide products or services to mitigate and remediate the effects of climate change. The New York-based indexing boutique hopes that the index, which has been designed with ETF product development in mind, will enable investors to take a more climate-friendly perspective as well as gain exposure to the megatrend of climate change.

The ClearShares OCIO ETF (NYSE Arca: OCIO) is celebrating passing $100 million in assets under management. The fund – launched by provider ClearShares, a subsidiary of Clearbrook, in June of this year – is an ETF of ETFs, offering access to an actively managed, diverse portfolio of passive index‐based ETFs and actively managed ETFs.

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, has launched an index that tracks high-growth technology stocks. Called the FANG+ Index, after the acronym used for Facebook, Apple, Amazon, Netflix and Google, the index provides exposure to ten highly liquid tech-enabled companies including the aforementioned five.