History Made as First Mutual Fund Converts Into an ETF
- Guinness Atkinson completes switch, Dimensional expected next
- Sign of times as ETFs continue to eat into mutual-fund market
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A small mutual-fund provider has made history by becoming the first to formally change its products into exchange-traded funds.
Guinness Atkinson Funds announced on Monday that it had converted two of its mutual funds into the SmartETFs Dividend Builder (ticker DIVS) and SmartETFs Asia Pacific Dividend Builder (ADIV). The conversion was a non-taxable event for shareholders, and the funds will retain their performance history.