Ruane Cunniff closed Sequoia into an ETF. Allspring and GMO added a ticker
William Blair converted an emerging-markets debt fund the same day, and GMO's new class costs more than shares that require $35 million.
Key takeaways
On Monday, Oct. 19, 2026, Ruane Cunniff closed Sequoia Fund into an exchange-traded fund the firm puts at $6.6 billion in its release. William Blair Investment Management said it had finished a conversion the same day. Allspring Global Investments and GMO kept their mutual funds and added a ticker.
The mutual fund closed, or it stayed
Ruane Cunniff listed Sequoia ETF SEQ as the successor to Sequoia Fund, which the firm has managed for more than 56 years. The ETF merges that mutual fund with most of the taxable accounts the firm manages separately for clients. The expense ratio is 0.99%.
Shareholders approved the reorganization on July 27, 2026, the fund's site says.
William Blair said Monday it had finished converting the William Blair Emerging Markets Debt Mutual Fund into William Blair Emerging Income ETF WINC, and expected the shares to trade that day. The firm's site lists Oct. 19 as the listing date, and an expense ratio of 0.55% after a waiver through April 30, 2028, against 0.65% before the waiver.
William Blair said the ETF keeps the mutual fund's record, which dates to May 25, 2021.
Allspring on Wednesday, Oct. 21, listed ETF share classes of three bond funds it already runs, and said the classes had begun trading: Allspring Short-Term High Income Fund - ETF Class AHIC, Allspring Strategic Municipal Bond Fund - ETF Class ASTM and Allspring High Yield Municipal Bond Fund - ETF Class AHYM. The short-term fund buys non-investment-grade corporate debt with an average effective maturity of three years or less. The other two buy municipal bonds.
Allspring's Oct. 19 prospectus puts the expense ratio on AHIC at 0.45% after a waiver through Dec. 31, 2027, against 0.52% before the waiver. The firm's high-yield municipal page puts AHYM at 0.50% after a waiver through Oct. 31, 2027, against 0.65% before the waiver. Its strategic municipal page puts ASTM at 0.42%.
GMO, the same morning, listed an ETF share class of its International Equity Fund, GMO International Equity Fund ETF GMIE. The expense ratio is 0.75% after a waiver, against 0.90% before the waiver, on the firm's page. The waiver runs at least through Sept. 30, 2027.
Class III shares require $35 million with GMO. The expense ratio is 0.68% after a waiver.
The firm said a strategic partner moved more than $200 million from the mutual fund shares into the new class, and that the fund held $1.4 billion as of Sept. 30, 2026. The mutual fund classes continue.
George Sakoulis, portfolio manager of the fund and head of investment teams at GMO, said ETFs are the preferred vehicle for a growing number of investors.
"Without changing anything about how we manage the portfolio," he said.
Allspring and GMO both said they were among the first to add an ETF share class to a fund they already run.
What the 11 charge
Sequoia, Allspring's three classes and GMO were five of the 11 funds that listed from Monday, Oct. 19, through Wednesday, Oct. 21. The other six were new.
MayTech's new global stock fund charges 0.75%, the figure GMO charges after a waiver for a portfolio GMO has run since 1987.
Conversions still ahead, and funds already closing
Hartford International Equity Fund is set to convert after the close on Oct. 23 into the Hartford Alpha Capture International Equity ETF. Hartford's filing anticipates a listing on Oct. 26. Zacks Trust plans to turn two mutual funds into ETFs on or about Nov. 20, without a shareholder vote.
Neuberger Berman filed Oct. 20 to register the ETF that would receive Neuberger Floating Rate Income Fund, a switch the firm anticipates in the first or second quarter of 2027. Trust for Professional Managers filed this week to convert Performance Trust Municipal Bond Fund.
On Thursday, Oct. 22, ETF Opportunities Trust filed to liquidate four T-REX funds that seek twice a single stock's daily move: T-REX 2X Long ASTS Daily Target ETF ASUP, T-REX 2X Long AFRM Daily Target ETF AFRU, T-REX 2X Long SBET Daily Target ETF SBTU and T-REX 2X Long TE Daily Target ETF TEUP. They stop trading at the close on Nov. 3 and liquidate on or about Nov. 12.
The same day, REX Shares said it will close REX IncomeMax Option Strategy ETF ULTI and the Laddered T-Bill ETF TLDR. The expected last trading day is Nov. 6, with liquidation on or about Nov. 13.
A prospectus supplement dated Oct. 19 sets the last trading day for xETFs TSLA Daily Income ETF TYYY on or about Nov. 17. A prospectus supplement dated Oct. 20 sets Nov. 5 as the last day for Tradr 2X Long SK hynix Daily ETF SKHA and Tradr 2X Short SK hynix Daily ETF SKHN, a long fund and a short fund on SK hynix, the Korean chipmaker.
The four T-REX funds and Tradr's two SK hynix funds are leveraged single-stock funds. The other three are an options strategy, a T-bill fund and a Tesla income fund.
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