Two Research Affiliates ETFs will charge more, and Anthropic funds are effective but not trading

Two Research Affiliates ETFs will cost more to hold starting Nov. 1, after waivers that run through Oct. 31, 2026 get smaller.

Five funds tied to Anthropic have prospectuses in force, and none of them has started trading. Those are the exceptions among 95 filings dated Oct. 27 and Oct. 28, 2026. None was a closure.

The waivers get smaller

A filing that takes effect Oct. 31 covers the Research Affiliates Deletions ETF, CNIXT, and the RACWI US ETF, BRAUS. EA Advisers is the adviser to both. The management fees do not change. The waivers do, and the adviser cannot later bill either fund for the amount waived.

CNIXT keeps a management fee of 0.39%. Through Oct. 31, 2026, the filing says, the adviser had agreed to waive that fee to 0.19%. After that date the waiver takes it only to 0.29%, through Oct. 31, 2027, which is 0.10 percentage points more. Before Nov. 1, 2025, the same filing says, the waiver had taken the fee to 0.09%.

BRAUS is sub-advised by Syzygy Asset Management, formerly known as Research Affiliates, and its index comes from RAFI Indices, the provider of CNIXT's index as well. The management fee stays 0.15%. Before Nov. 1, 2026, the filing says, the adviser had agreed to waive that fee to zero. The new prospectus shows 0.03% after the waiver, through Oct. 31, 2027.

Five Anthropic funds can be offered, and none is trading

Effective means the prospectus is in force and the fund may offer shares. It does not mean the shares are trading. None of these five funds had started operations, so there is nothing to buy.

Direxion filed on Oct. 27 to make two funds effective Oct. 28. The Direxion Daily Anthropic Bull 2X ETF, CLAU, seeks 200% of the daily move in Anthropic. The Direxion Daily Anthropic Bear 2X ETF, CLAD, seeks the inverse, at −200%. The prospectus names the underlying shares as Anthropic common stock, which would trade on Nasdaq under the ticker ANT. Neither fund had started operations as of the prospectus date. The prospectus does not set a start date, and it does not tie the launch to Anthropic's first day of trading. Once they start, the funds would list on NYSE Arca.

Each Direxion prospectus shows total annual operating expenses of 0.99%, and 0.97% after a cap. The cap is 0.95% through Sept. 1, 2028, and it does not cover acquired fund fees of 0.02%, the fees on other funds. The 0.97% is that 0.95% plus the 0.02% the cap leaves out.

Leverage Shares filed the other three through Themes ETF Trust. One amendment covers the Leverage Shares 2X Long Anthropic Daily ETF, ANUU, and the Leverage Shares 2X Short Anthropic Daily ETF, ANDD. The other covers the Leverage Shares 1X Short Anthropic Daily ETF, ANSS, which seeks the inverse of the daily move without a further multiple. Both became effective when they were filed on Oct. 27.

None of the three had started operations. Each expects to start on or about the day Anthropic's Class A shares begin trading in an initial public offering, and each would list on Cboe BZX. ANUU and ANDD each show a management fee of 0.75%, which is also the total in the fee table. ANSS shows 0.99%. Those tables do not include the cost of the swaps the funds would use. The prospectuses say that cost is indirect and leave it out of the table.

Anthropic filed on Oct. 26 to list Class A common stock on the Nasdaq Global Select Market under the ticker ANT. Direxion's prospectus, dated Oct. 28, still describes that offering as in process. The Leverage Shares prospectuses say the stock had not begun public trading.

A BlackRock mutual fund needs a vote to fold into an ETF

Shareholders of the BlackRock Advantage Large Cap Growth Fund will be asked to approve moving that mutual fund's assets into a new ETF.

BlackRock filed an amendment that became effective when it was filed on Oct. 27 for the iShares Enhanced Large Cap Growth Active ETF, ENHG. The fund has not started operations. It would list on Nasdaq.

The filing says that as of the close of trading on the New York Stock Exchange on or about May 21, 2027, the ETF would acquire the mutual fund's assets and assume its liabilities, if the mutual fund's shareholders approve. The reorganization is expected to be tax-free for U.S. federal income tax purposes.

The ETF's management fee is 0.22%, and that is also its total annual operating expense. The mutual fund paid its adviser a net management fee of 0.56% in the year ended May 31, 2026, which is 0.34 percentage points more.

Three WBI funds have new names

Three WBI funds changed names on Oct. 28. The tickers did not change.

A filing that takes effect Oct. 31 records the changes. The WBI BullBear Value 3000 ETF is now the WBI Fundamental Factors Hedged ETF, DWBIF. The WBI BullBear Yield 3000 ETF is now the WBI Income Generators Hedged ETF, CWBIG. The WBI BullBear Quality 3000 ETF is now the WBI Trend Leaders Hedged ETF, DWBIL.

A Reckoner fund's stated cost is mostly borrowing

The Reckoner Yield Enhanced AAA CLO ETF, —RAAA, takes its name from collateralized loan obligations, bundles of corporate loans. An amendment that takes effect Oct. 30 shows total annual operating expenses of 4.13%.

The filing says 3.82% is interest on cash borrowed through reverse repurchase agreements, a form of short-term borrowing, and 0.01% is interest on a line of credit. Without those borrowing costs, it says, the expense ratio would be 0.30%, the same as the management fee.

Its sibling, the Reckoner BBB-B CLO ETF, —RCLO, shows 0.50%, all of it the management fee.

The other amendments restate prospectuses and add financials. Fidelity Salem Street Trust filed three of them on Oct. 27. One, covering its bond funds, becomes effective at 12:01 a.m. Eastern time on Oct. 30. Managed Portfolio Series and Manager Directed Portfolios filed the same day. EntrepreneurShares Series Trust's amendment for ERShares Global Entrepreneurs became effective on filing.