ETF Liquidity Tiers in Dec 2009
Quantifying liquidity can be difficult, especially for ETFs. For stocks, it is typically a function of the ADVT (average daily value traded, sometimes called dollar-volume) and the number of shares outstanding. The same approach cannot be applied to ETFs because the number of shares outstanding is...
ETF Death Toll for 2009 = 56
U.S. exchange-traded product delistings and closures totaled 56 in 2009, consisting of 51 ETFs and five ETNs. The lifetime toll now stands at 124 (111 ETFs and 13 ETNs). The 56 closures are slightly below the 58 in 2008. However, if ETNs are excluded, then the ETF closure count of 51 in 2009 sets a new...
ETF Stats for December 2009: Listings at 925
There were 23 new ETFs and no new ETNs launched in December. Six ETFs were delisted. The net increase of 17 pushed the quantity of listed products to 925 (836 ETFs and 89 ETNs) at the end of 2009, an increase of 80 for the year. If the pace of the past six months keeps up, then we should reach...
ETF Stats for November 2009: Active Listings at 908
There were 23 new ETFs and five new ETNs launched in November. No products were delisted. The net increase of 28 pushed the quantity of listed products to 908, the first time the count has been above 900. In theory, each hundred new products should come quicker than the previous since it represents...
1,000th ETF Hits The Tape
The world of exchange-traded funds passed a milestone today (November 2, 2009) with the listing of the 1,000th product in the US. The quantity of 1,000 includes a combination of 903 ETFs and 97 ETNs. PIMCO 3-7 Year US Treasury Index Fund (FIVZ) and PIMCO 25+ Year Zero Coupon US Treasury Index Fund...
ETF Stats for October 2009
Eleven new ETFs and one new ETN were launched in October. No products were delisted. This net increase of 12 brings the official count of active listings at the end of October to 880: 796 ETFs and 84 ETNs. The total value of shares traded for the month was $1.567 trillion, a surge of +19% from the...
ETF Stats for September 2009
September brought 13 new ETFs while one ETN was delisted, a net change of +12 in the number of listed funds. The official count at the end of the month stood at 868, consisting of 785 ETFs and 83 ETNs. ETF volume averaged 1.48 billion shares per day. The total dollar value traded for the entire month was...
ETF Stats – August 2009, 1.47 Billion Shares Per Day
In August the number of US-listed exchange traded products (ETPs) increased by four, the slowest pace since March. There were no closings during the month for the first time since January. The four new products introduced were all ETFs, bringing the total number of listed products at the end of August...
The ETF 92-8 Rule
I’m sure most of you are familiar with the “80-20 rule.” It’s more formally known as the Pareto Principle and is sometimes referred to as the “law of the vital few.” In summary, the principle says that roughly 80% of the observable outcome is the result of 20% of the inputs. This...
ETF Stats – July 2009, Traded Value Drops More Than 10%
The number of US-listed exchange traded products (ETPs) grew by nine in July, a slower pace than the increase of 13 in the prior month. The total value of shares traded declined -10.3% to $1.346 trillion from $1.5 trillion in June. August often has the lightest volume of the year, so the total traded...
