F/m's CPHY will stop trading before the open on Dec. 4

The RBB Fund will close and liquidate the F/m Compoundr High Yield Bond ETF, CPHY. Trading on Nasdaq will be halted before the open on Dec. 4, 2026. It is the only fund set to close in Securities and Exchange Commission filings dated Nov. 4 and Nov. 5.

The other filings from those two days convert Northern Funds' Income Equity Fund into an ETF at a lower fee, set a date to drop Mellon from BNY fund names, and make a Global X China semiconductor registration effective without showing the fund as trading.

In a supplement dated Nov. 5, the board of The RBB Fund, acting on a recommendation from F/m Investments LLC, said closing the fund would be in the best interest of the fund and its shareholders.

The supplement sets the path to that date. From Nov. 20, the fund stops following its investment objective and starts selling its holdings. It stops accepting orders for new creation units after the close on Nov. 23. Those are the blocks dealers use to bring new shares to market.

The supplement says the fund is expected to be invested almost exclusively in cash and other liquid assets by Nov. 27. Shareholders may sell on Nasdaq through the close on Dec. 3, and may incur the usual and customary brokerage commissions.

The liquidation is set for the close of business on or about Dec. 4, and the fund's officers can move that date without notice. After the Dec. 3 close, and until the liquidation, shareholders may be able to sell only to certain broker-dealers. The supplement says there is no assurance of a market in that window, and customary brokerage charges may apply.

Shareholders of record at the close on the liquidation date receive a pro rata distribution of what remains, and their shares are cancelled. Proceeds are to be sent promptly afterward.

The supplement says those distributions are taxable and include accrued capital gains and dividends, if any. It tells shareholders to contact a tax adviser about the income-tax consequences. The net asset value on the liquidation date will reflect the costs of closing, if any.

F/m's ETF page listed net assets of $3.07 million as of Nov. 4, the day before the supplement. The fund began on Aug. 12, 2025.

Northern Income Equity Fund to convert into an ETF

Northern Funds filed an information statement on Nov. 4. Its Income Equity Fund, NOIEX, will convert into Northern Funds' Northern Trust Equity Income ETF, QDFI, on or about Jan. 22, 2027. After the conversion, the shares are to trade on Cboe BZX Exchange. The investment objective stays a high level of current income and long-term capital appreciation, and Northern Trust Investments advises both.

The information statement recommends that shareholders establish a brokerage account by Dec. 22, 2026, if they will need one to hold the ETF. The last day to buy the mutual fund is Jan. 20, 2027. Jan. 21 is the last day to redeem, or to exchange into another Northern mutual fund. Shares not redeemed before Jan. 21 are exchanged for ETF shares.

The mutual fund's expenses are 0.64% before waivers and 0.48% after them. The ETF would charge 0.46%, 0.02 percentage points less than that net figure, and its fee table shows no waiver. The management fee stays at 0.46%.

The ETF fee is a unitary fee, out of which the adviser pays ordinary operating expenses. The mutual fund's waiver arrangement may not be ended before July 31, 2027, without the board's approval.

The board of trustees, including the independent trustees, approved the plan unanimously on Sept. 24, 2026. Shareholders are not being asked to vote, and they are asked not to send a proxy. Northern Trust Investments will bear the reorganization's expenses, other than portfolio transaction expenses.

The fund's only share class, called Shares, had net assets of $341.9 million as of Aug. 31, 2026.

BNY Mellon ETF names

BNY Mellon ETF Trust II filed the same supplement on Nov. 4 for 14 of its exchange-traded funds. The Bank of New York Mellon Corporation intends to consolidate several of its U.S. investment firms on or about Jan. 1, 2027, subject to regulatory requirements. The surviving firm is to be named BNY Investments Corporation.

The primary adviser, BNY Mellon ETF Investment Adviser, LLC, is to merge into that firm, along with the sub-advisers Insight North America LLC, Mellon Investments Corporation, including its Mellon and Dreyfus divisions, and Newton Investment Management North America, LLC. The sub-advisory agreements end. The supplement says no shareholder vote is required, because the consolidation is not an assignment of the advisory agreements and control and management do not actually change.

An increase in the management fee is not currently anticipated. Neither is a material change in a fund's investment objective, strategies, or policies.

On that date, the word Mellon comes out of each fund's name. The supplement says BNY Mellon is being replaced with BNY, to align with the BNY Investments brand. It says the change covers each series of BNY Mellon ETF Trust and BNY Mellon ETF Trust II. Trust II filed the supplement for these series:

Global X China Semiconductor ETF

Global X Funds filed a post-effective amendment on Nov. 4 for the Global X China Semiconductor ETF, CCHP, and marked it effective immediately upon filing. The prospectus, dated that day, says the fund had not commenced operations as of Oct. 31, and had not commenced investment operations before Nov. 4.

The prospectus describes an actively managed fund that seeks capital appreciation. Under normal circumstances it invests at least 80% of its net assets, plus borrowings for investment, in stocks of China semiconductor companies or in derivatives that provide that exposure. Global X Management Company LLC, the adviser, defines those companies as ones listed in Shanghai, Shenzhen, or Hong Kong that get at least 50% of their revenue from semiconductor businesses. Total annual fund operating expenses are 0.65%.