The SPDR S&P 500 ETF (SPY) is twenty years old today. It became the very first U.S. listed exchange traded fund (“ETF”) on January 29, 1993. About a million shares changed hands that first day, with SPY closing at $43.94. SPY was designed to have a price approximately 10% of the S&P...First Four ETP Closures of 2013
An early termination of a Barclays ETN and the orderly shutdown of three Direxion ETFs mark the first closures of 2013. These four ETPs were all members of ETF Deathwatch, and therefore their closures should not come as a surprise to anyone. After a record setting 102 ETP closures in 2012, investors...MLPJ: New Junior MLP ETF Has 38% Daily Tracking Error
Today (1/15/13), Global X launched another C-corporation masquerading as an ETF. The Global X Junior MLP ETF (MLPJ) elected not to be a regulated investment company. Like the other C-corporation ETFs that came before it, I believe MLPJ’s marketing literature falls far short of informing potential...ETF Deathwatch for January 2013: 15 Added, 14 Removed
Fifteen new names join ETF Deathwatch and fourteen escape as 2013 gets underway. Six are exiting due to increased investor interest, and eight are leaving because they have been closed and delisted. ETF Deathwatch now consists of 375 names (277 ETFs and 98 ETNs) from the 1,445 listed for trading. ...ETF Stats for December 2012 – Slowest Listing Growth Since 1997
Ten products came and ten products went in December, resulting in a steady month-end count of 1,445 ETPs (1,239 ETFs and 206 ETNs). This remains below the 1,457 active listings at the end of April, resulting in negative growth for the past eight months. It is also 45 less than the intra-month high...Complete List of 102 ETP Closures for 2012
The ETP Death Toll surged 168% to 102 in 2012 with 82 ETFs and 20 ETNs seeing their last day of US-listed trading during the year. The quantity easily establishes a new record, swamping the prior high of 58 established four years ago in 2008. The lifetime count reached 300 in October and now stands...