Another International Sector Suite Bites The Dust

Sector ETFs are popular.  International sector ETFs, not so much.  In fact, successfully maintaining a foreign sector ETF suite has proven to be nearly impossible.  The latest casualty is the 10-ETF All Country excluding US Sector Suite launched by iShares in 2010. As previously announced, March 25,... 

This Wasn’t Suppose To Happen: ETF Converts to Mutual Fund

Pax World launched the Pax MSCI EAFE ESG Index ETF (EAPS) in January 2011, and March 21, 2014 was its last of trading.  When ETFs close, the asset base is typically very small and very few shareholders are affected.  In the case of EAPS, assets were north of $64 million.  Additionally, Pax World decided... 

A Brief History Of A Doomed ETF

Claymore securities launched Claymore U.S. Capital Markets Bond ETF (UBD) back on February 12, 2008.  It had an interesting, if not successful, life as an exchange traded fund (“ETF”).  Due to its average daily volume of just 81 shares, it became a charter member of ETF Deathwatch in the inaugural... 

ETF Closings Not Always What They Seem

ETF industry watchers often like to point to fund closings as a sign of weakness.  As the publisher of ETF Deathwatch, I have been accused of having a negative bias toward closures and the industry as a whole.  However, anyone looking beyond the headlines can readily attest that I view ETF closures... 

Complete List of 67 ETP Closures for 2013

Sixty-seven exchange traded products (“ETPs”) saw their last day of listed trading in 2013.  This is the second highest annual death toll for the relatively young industry, surpassed only by the 102 closures of the prior year.  The departed are a mixture of 50 ETFs and 17 ETNs, and the lifetime... 

PureFunds Shuttering Two of Three ETFs

PureFunds and Factor Advisors recently announced the closure and liquidation of two ETFs marketed under the PureFunds brand.  PureFunds ISE Diamond/Gemstone ETF (GEMS) and PureFunds ISE Mining Service ETF (MSXX) will have their last day of trading on Thursday, January 23, 2014.  Final liquidation is... 

UBS to Freeze Value of OILZ and GASZ January 17

UBS AG announced it will redeem all of the outstanding notes of the ETRACS Oil Futures Contango ETN (OILZ) and ETRACS Natural Gas Contango ETN (GASZ).  Unlike most redemptions and closures, UBS will determine the final value (“Call Settlement Amount”) on January 17 but will allow the ETNs to stay... 

BulletShares 2013 ETFs To Liquidate Next Week

Not all ETF closures are bad news.  By design, Guggenheim BulletShares 2013 Corporate Bond ETF (BSCD) and Guggenheim BulletShares 2013 High Yield Corporate Bond ETF (BSJD) are scheduled to mature and liquidate on December 31, 2013.  Accordingly, December 30 will be the last day of listed trading and... 

Thursday Is Last Day To Trade Four VelocityShares ETNs

VelocityShares is pulling the plug on four of its commodity related exchange traded notes (“ETNs”).  Thursday, December 26, will be the last day of trading for VelocityShares 3x Long Brent Crude Oil ETN (UOIL), VelocityShares 3x Inverse Brent Crude Oil ETN (DOIL), VelocityShares 2x Long Platinum... 

Closure of FactorShares Removes an ETF Industry Blight

Factor Capital Management, the managing owner of the FactorShares family of ETFs, recently announced the closure and liquidation of its five ETFs.  Thursday, November 21, will be the last day of trading.  These funds already have the highest expense ratios of all listed ETFs, and in addition to those... 

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