Watch our timely discussion about the conversion of the Nasdaq-100 ETF (QQQ) from a unit investment trust (UIT) to an open-end ETF structure. Our speakers explore the history behind the QQQ’s original UIT structure, examine the differences between UITs and open-end ETFs and discuss the financial and operational impact of this conversion on fund sponsors, index providers, shareholders and other stakeholders. We also consider what this change may signal for the broader ETF market.
Key Topics Include:
- Why Nasdaq originally chose the UIT structure for QQQ
- How UITs differ from open-end ETFs
- The financial and operational effects on fund companies, indexers, shareholders and securities lenders
- What the conversion process looks like and who bears the costs
- Whether this could set a precedent for other ETF structure conversions
Speakers:
- John Jacobs, Former CMO/EVP of NASDAQ, Executive Advisor & Board Member
- Bibb Strench, Partner, Thompson Hine