Just scrolled through this week's ETF activity and there's some interesting stuff happening in the private equity ETFs space. So the industry keeps churning out new products - another dozen launched this week from the usual suspects like Goldman Sachs and Innovator. But here's what caught my eye: WHITEWOLF just dropped the LBO ETF, a new actively managed private equity ETF. Thing is, the expense ratio is absolutely wild at 6.82% when most ETFs sit under 1%. Like, that's genuinely shocking compared to the other broad private equity ETFs out there (PSP and PEX). The fund can hold leverage finance providers, buyout firms, sponsors, all that stuff. It trades on Cboe. Meanwhile Hilton Capital launched SMCO focusing on small-to-mid cap stocks between $750 million and $30 billion market cap - that one's actually reasonable at 0.55%. On the flip side, there's been decent closure activity too. Eight ETFs shutting down this week including some Innovator funds and Kelly ETFs' final three. Also noticed the Vietnam ETF (VNAM) switched its underlying index and some bond fund rebranded to emphasize shorter duration. The private equity ETFs market definitely feels like it's evolving - more active management, more niche strategies. Curious if that 6.82% fee will actually attract investors or if it's just too aggressive.