I didn't pay attention to the vote ballot and was about to toss away. Later on i did a little research and found that it would change the unit investment trust to an open ended fund, which in my understanding will give managers more authority to change active positions and reduce legal costs hence saves 0.1% expenses of the fund.
In my understanding, this ia why gldm and qqqm could have a lower expense. They arw both open ended fund.
For that 0.1% expenses savings, it's probably the most important vote our shareholders shall consider.