Bringing you live news and features since 2006 

Reaves Utilities ETF changes name and lowers management fee

RELATED TOPICS​

Reaves Utilities ETF, an actively managed exchange-traded fund focused on the utilities sector, has been renamed the Virtus Reaves Utilities ETF (UTES), better reflecting the relationship between fund manager Reaves Asset Management and Virtus ETF Solutions, and has lowered its management fee.

“Reaves Asset Management has demonstrated its pedigree in utility sector investing over the last four decades, further showcased by UTES’ stellar track record of consistently outperforming its peers since its inception in 2015 as Reaves Utilities ETF,” says William Smalley, executive managing director of Virtus ETF Solutions. “In addition, the meaningful reduction in the management fee to 49 basis points reflects our continued commitment to helping investors achieve better outcomes.”

“UTES is now a 4-star Morningstar-rated ETF and the co-branding allows us to extend the awareness of our partnership with Reaves and better distinguish this strategy with investors and our distribution partners,” Smalley says.

“Reaves is pleased to work further with Virtus in a way that will directly benefit our shareholders,” says Joseph ‘Jay’ Rhame III, CEO of Reaves Asset Management and co-portfolio manager of UTES. “Reducing the fees to our clients will help support their continued investment success. The timing could not be any better as market volatility has increased and signs of a potential recession have emerged. Our 42 years of experience investing in utilities with consistent earnings growth and growing dividends gives us the confidence to navigate a tough market environment.”

Latest News

European ETFs raised USD47.8 billion in Q1, a 15 per cent increase compared to the same period in 2023, according..
LSEG Lipper’s March report finds that globally equity ETFs (+EUR113.2 billion) enjoyed the highest estimated net inflows for the month,..
Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by