ETF Deathwatch for May 2012: NASDAQ Tries To Help
The quantity of products on ETF Deathwatch climbs again with twenty names being added to the list for May and only four coming off. The net increase of 16 pushes the total count to 324, consisting of 229 ETFs and 95 ETNs. Another 138 products were excluded because they are less than six months old,...
ETF Stats for April 2012: Listed Count at 1,457
Eighteen new ETFs and two ETNs came to market in April. The twenty new product introductions places the year-to-date launch count at 105, but the net increase is only 88 as a results of the 17 closures. The number of listed products was 1,457 at month-end, consisting of 1,243 ETFs and 214 ETNs. Assets...
No More Wildcatters: WCAT Closing
Jefferies | TR/J CRB Wildcatter Exploration & Production Equity ETF (WCAT) will see its last day of trading on Friday, April 27, 2012. ALPS ETF Trust announced (pdf) the closure and liquidation after the Board determined it was advisable and in the best interest of the fund and its shareholders....
AMLP Makes Tax Payment and Raises Expense Ratio
Alerian MLP ETF (AMLP), the first ETF structured as a C-corporation, issued a prospectus supplement dated April 19, 2012 (pdf). Total Annual Fund Operating Expenses increased from 0.85% to 1.40%, resulting from “Other Expenses” climbing by 0.55% due to past tax liabilities. AMLP’s press release of...
MLPA: Another C-Corp Double Taxation ETF
And then there were three. The listing of Global X MLP ETF (MLPA) today (4/19/12) makes it the third ETF structured as a C-corporation, thereby subjecting its shareholders to the heavy burden of double-taxation on taxable income received from the fund and all capital gains. Like its two predecessors,...
ETF Deathwatch for April 2012: 308 and Climbing
The quantity of products on ETF Deathwatch now tops 300 for the first time. A total of 308 (220 ETFs and 88 ETNs) made the list this month. The net increase of 17 resulted from 37 additions and 20 removals. Six of the removals were fund closures, while the other 14 had increases in assets or trading...
ETF Stats for March 2012: Launch Activity Dives
Monthly launch activity plunged more than 70% from February’s blistering pace. The March new product count of only 14 (13 ETFs and 1 ETN) was the lowest since last August. New ETPs year-to-date total 85, but with 16 closures the net increase is just 69. The eight March closures were all from...
Open Letter to ETF Regulators
Dear ETF Regulators, It is time to step up to the challenge of your job’s main mandate - protecting investors. Investor confidence in exchange traded funds (“ETFs”) and exchange traded notes (“ETNs”) is at a critical point. The abuses of a very small number of individual products...
YMLP: Another Abomination of the ETF Wrapper
There are 1,441 ETFs and ETNs listed for trading today. 1,439 of them are not structured as C-corporations and, therefore, generally not liable for any federal or state taxes. The other two ETFs do have a C-corporation structure, which is costing their shareholders millions of dollars (more than...
Guggenheim Closing 8 ETFs Including 2 CurrencyShares
Guggenheim previously announced (pdf) the last day of trading for eight ETFs would be tomorrow (Friday 3/23). While all of the affected products are now part of the Guggenheim lineup, you may be more familiar with their original Claymore, Rydex, and CurrencyShares monikers. Delisting will occur prior...
