The ETF Deathwatch list for February shrinks by seven: the 11 new members are offset by the 15 removed for improved health and three that died and are no longer with us. The new count is 461, composed of 367 exchange-traded funds (“ETFs”) and 94 exchange-traded notes (“ETNs”). Membership now consists of 43 actively managed ETFs, 189 smart-beta funds, and 229 following traditional indexes.
New members include three leveraged, two ESG, one inverse, and one volatility-hedged product. Additionally, one new arrival is actively managed, and six follow smart-beta indexes. Six of the ETFs coming off the list are leveraged, as the recent rally is sparking a renewed interest in ETFs providing leveraged exposure.
The average asset level of these zombie ETFs fell from $6.6 million to $6.5 million, and the quantity of products with less than $2 million in assets increased from 88 to 92. The average age fell from 47.2 to 47.1 months, and the number of products more than 5 years of age decreased from 171 to 166. There are 439 funds on this list with at least one zero-volume day during January. Additionally, 244 ETFs and ETNs did not trade on the last day of the month, including 13 that went the entire month without a trade.
Here is the Complete List of 461 ETFs and ETNs on ETF Deathwatch for February 2017 compiled using the objective ETF Deathwatch Criteria.
The 11 ETFs added to ETF Deathwatch for February:
- AdvisorShares Cornerstone Small Cap (SCAP)
- Cambria Emerging Shareholder Yield (EYLD)
- Deutsche Bank FI Enhanced Global HY ETN (FIEG)
- Deutsche X-trackers FTSE Dev ex US Comprehensive Factor (DEEF)
- Direxion Daily European Financials Bull 2x (EUFL)
- Direxion Daily Gold Miners Index Bear 1x (MELT)
- FlexShares STOXX Global ESG Impact (ESGG)
- FlexShares STOXX US ESG Impact (ESG)
- ProShares Ultra MSCI Japan (EZJ)
- VanEck Vectors EM IG + BB USD Sovereign Bond (IGEM)
- VelocityShares VIX Tail Risk ETN (BSWN)
The 15 ETFs removed from ETF Deathwatch due to improved health:
- AlphaMark Actively Managed Small Cap (SMCP)
- Direxion Daily Regional Banks Bull 3x (DPST)
- Guggenheim S&P High Income Infrastructure (GHII)
- iPath Bloomberg Industrial Metals ETN (JJM)
- iPath US Treasury Long Bond Yield Bear ETN (DLBS)
- IQ Hedge Macro Tracker (MCRO)
- iShares Commodity Optimized Trust (CMDT)
- iShares Edge MSCI Multifactor USA Small-Cap (SMLF)
- iShares Yield Optimized Bond (BYLD)
- ProShares Ultra Consumer Services (UCC)
- ProShares Ultra Industrials (UXI)
- ProShares Ultra S&P Regional Banking (KRU)
- ProShares Ultra SmallCap600 (SAA)
- ProShares UltraPro Financial Select Sector (FINU)
- WisdomTree Barclays Interest Rate Hedged US Agg Bond (AGZD)
The 3 ETFs removed from ETF Deathwatch due to delisting:
- RBC Yorkville MLP Distribution Growth Leaders Liquid PR ETN (YGRO)
- ETFS Zacks Earnings Large-Cap U.S. (ZLRG)
- ETFS Zacks Earnings Small-Cap U.S. (ZSML)
Disclosure: Author has no positions in any of the securities mentioned and no positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) is received from, or on behalf of, any of the companies or ETF sponsors mentioned.