ETF Deathwatch for August 2016: More than 40 Deaths

The 18 additions and 16 subtractions to ETF Deathwatch this month was nearly a wash, with 492 (383 ETFs and 109 ETNs) now on the list.  The previous record of 30 closures in a single month took place in October 2012, when Russell’s strategic retreat from the index ETF business resulted in the shuttering... 

Real Estate Promoted to Sector Status

The Global Industry Classification Standard (“GICS”) system is implementing a significant change over the coming weeks.  GICS was jointly developed by Standard & Poor’s and MSCI and is the primary system used by institutional investors to categorize stocks into their respective industries... 

ETF Stats for July 2016: ETNs with Unpredictable Uncapped Fees

Sixteen launches and two closures in July increased the overall product count to 1,945 (1,739 ETFs and 206 ETNs).  Assets climbed by 5.3% to $2.37 trillion, driven primarily by market gains.  August is shaping up to be the worst month ever for ETF mortality, with 41 ETFs and ETNs slated for closure... 

ETF Deathwatch for July 2016: Closing In On 500 Names

The quantity of funds on ETF Deathwatch climbed by 18 for July with the addition of 24 new names and the removal of six.  Only three of those leaving did so by improving their health.  The other three left in a casket.  The new count is 490 (380 ETFs and 110 ETNs), and it will likely surpass 500 next... 

ETF Stats for June 2016: More Teeter-Totter Failures

Thirty-two new ETFs and ETNs came to market in June, and three closed up shop.  The net increase of 29 puts the listed count at 1,931 (1,729 ETFs and 202 ETNs) at the end of June.  Assets climbed by $30.6 billion, with $19.3 billion coming from inflows and $11.2 billion the result of market action. ... 

600 ETFs Now Shuttered

The ETF world crossed another major milestone with the delisting of Direxion Daily Total Market Bear 1x Shares (TOTS) before the market opened yesterday (7/18/16).  By itself, the closure of this ETF is not a remarkable event, but in conjunction with the 599 closures that came before it, the TOTS closure... 

Brexit Is Years Away and Might Not Be Bad

I am amazed at all the negative press surrounding the recent U.K. referendum vote in favor of leaving the European Union (“EU”).  Various observers, many of whom are unfamiliar with British politics, have apparently decided that this decision is a bad one.  However, since negotiations haven’t... 

ETF Deathwatch for June 2016: Currency-Hedged Zombies

Anyone looking for evidence of “trendiness” in ETF launch activity can find it in the recent land rush by sponsors trying to stake their claim in currency-hedged country.  Five years ago, there were only two currency-hedged ETFs listed in the U.S., and the quantity increased by just nine over the... 

ETF Stats for May 2016: Another Forced Delisting

Twenty-two new exchange-traded funds (“ETFs”) and one exchange-traded note (“ETN”) came to market in May.  There were five closures, and the net increase of 18 listings puts the month-end count at 1,902 (1,699 ETFs and 203 ETNs).  May was the second month in a row that a securities exchange... 

The Glacial Housing Shift

The last economic recession was marked by an upheaval in the employment landscape, and the seven years of “recovery” have yet to undo all of the damage that was done.  Millions of people still need a job, and millions of others are now earning far less than they previously were.  Despite these... 

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