Prudential Financial (PRU) is restructuring its Jennison equity exchange-traded fund lineup, which will be separated into core and focused strategies, the company said Monday.

The core strategies will provide diversified core equity market exposure, while focused strategies will offer complementary "higher-conviction" portfolios in each market segment, the company said.

As part of the restructuring, the PGIM Jennison Focused Value Fund (PJGZX) will merge into the PGIM Jennison Focused Value ETF (PJFV), likely to become effective Nov. 13, the company said.

Prudential will also rename and reposition the PGIM Jennison International Opportunities ETF (PJIO) as the PGIM Jennison Focused International Equity ETF (PJIO), effective Aug. 1, and will close and liquidate the PGIM Jennison Better Future ETF (PJBF), effective July 17.