ETF Deathwatch for November 2011: Count Surges to Record High

November 8, 2011 by  
Filed under Commentary, ETF Deathwatch 2011

ETF Deathwatch membership surges to an all time high for November.  Thirty-seven new names are joining the list, while only a dozen are leaving.  The net increase of 25 products boosts the count to 211, representing a 13% increase over the 186 for October.  The current list contains 154 ETFs and 57 ETNs with an average age of about 26 months and average assets of less than $6 million. 

It appears the huge jump in the number of products now fighting for their survival is a direct result of the record pace of exchange traded product launches this year.  The 275 new arrivals during the first ten months of the year are more than the market can absorb. 

This is the first month of ETF Deathwatch eligibility for the 43 products introduced in April, as all new funds receive a six-month grace period to give them time to gain traction with investors.  Only a dozen of those April launches are currently showing any promise, with the remaining 31 moving directly onto ETF Deathwatch.  The six other funds joining the list have been around a while longer but have suffered a recent drop in assets or trading activity.

Barclay’s iPath ETNs account for nearly half of the new additions, including 16 of the new “pure beta” commodity ETNs along with two others.  First Trust also has a large percentage of the new names this month.

Another Barclay’s product, the iPath US Treasury 5-Year Bull ETN (DFVL), has the dubious distinction of being the only ETP with zero volume for the month of October.  It was launched in July and is currently too young to be included in ETF Deathwatch, but a month with zero volume pretty much seals its fate.

The 37 ETPs added to ETF Deathwatch:

  1. AdvisorShares Mars Hill Global Relative Value (GRV)
  2. FactorShares 2X: S&P500 Bull/USD Bear (FSU)
  3. First Trust Asia Pacific Ex-Japan AlphaDEX (FPA)
  4. First Trust China AlphaDEX Fund (FCA)
  5. First Trust Europe AlphaDEX Fund (FEP)
  6. First Trust Japan AlphaDEX (FJP)
  7. First Trust Latin America AlphaDEX (FLN)
  8. First Trust Mid Cap Value AlphaDEX (FNK)
  9. First Trust Small Cap Value AlphaDEX (FYT)
  10. First Trust South Korea AlphaDEX (FKO)
  11. Global X Waste Management ETF (WSTE)
  12. iPath Pure Beta Agriculture ETN (DIRT)
  13. iPath Pure Beta Aluminum ETN (FOIL)
  14. iPath Pure Beta Broad Commodity ETN (BCM)
  15. iPath Pure Beta Cocoa ETN (CHOC)
  16. iPath Pure Beta Coffee ETN (CAFE)
  17. iPath Pure Beta Copper ETN (CUPM)
  18. iPath Pure Beta Cotton ETN (CTNN)
  19. iPath Pure Beta Crude Oil ETN (OLEM)
  20. iPath Pure Beta Energy ETN (ONG)
  21. iPath Pure Beta Grains ETN (WEET)
  22. iPath Pure Beta Industrial Metals ETN (HEVY)
  23. iPath Pure Beta Lead ETN (LEDD)
  24. iPath Pure Beta Nickel ETN (NINI)
  25. iPath Pure Beta Precious Metals ETN (BLNG)
  26. iPath Pure Beta S&P GSCI-Weighted ETN (SBV)
  27. iPath Pure Beta Softs ETN (GRWN)
  28. iPath Seasonal Natural Gas ETN (DCNG)
  29. iPath US Treasury Steepener ETN (STPP)
  30. Market Vectors Germany Small-Cap ETF (GERJ)
  31. Market Vectors Russia Small-Cap ETF (RSXJ)
  32. ProShares Ultra High Yield (UJB)
  33. ProShares Ultra Investment Grade Corporate (IGU)
  34. ProShares UltraShort 3-7 Year Treasury (TBZ)
  35. RevenueShares Financials Sector Fund (RWW)
  36. UBS ETRACS 1x Mthly Short Alerian MLP ETN (MLPS)
  37. UBS ETRACS Wells Fargo BDC ETN (BDCS)

The 12 ETPs removed from ETF Deathwatch:

  1. Direxion Airline Shares (FLYX) [FLYX fails to fly and is delisted 10/10/11]
  2. Guggenheim Ocean Tomo Growth Index ETF (OTR)
  3. iPath JPY/USD Exchange Rate ETN (JYN)
  4. iShares 10+ Year Government/Credit Bond (GLJ)
  5. iShares S&P Target Date 2010 Index Fund (TZD)
  6. iShares S&P Target Date 2015 Index Fund (TZE)
  7. iShares S&P Target Date 2025 Index Fund (TZI)
  8. PowerShares DB 3x Long 25+ Treasury ETN (LBND)
  9. PowerShares Fundamental Pure Small Core (PXSC)
  10. SPDR S&P International Financial (IPF)
  11. UBS ETRACS S&P 500 Gold Hedged Index ETN (SPGH)
  12. WisdomTree Dreyfus Japan Yen (JYF)

The ETF Deathwatch criteria produced the following list of 211 ETPs for November:

ETF Deathwatch for November 2011

#Ticker SymETF NameAge (mths)AUM (millions)3-mth Avg Daily $ Volume
1DENTAdvisorShares Dent Tactical ETF 25.8$14 $89,361
2GRVAdvisorShares Mars Hill Global Relative Value 16.0$4 $85,760
3AADRAdvisorShares WCM/BNY Mellon Foc Gr ADR 15.6$6 $178,673
4PGDBarclays Asian&Gulf Currency Reval. ETN41.0$4 $32,650
5BXDCBarclays ETN+ S&P 500 2x Short C 2009 ETN23.7$3 $511,206
6JEMBarclays GEMS Currency Index ETN45.6$4 $41,661
7GCEClaymore CEF Index GS Connect ETN47.4$3 $20,556
8GVTColumbia Concentrated Large Cap Value Strat30.3$3 $3,064
9GMTBColumbia Core Bond Strategy Fund21.3$5 $81,462
10RPXColumbia Growth Equity Strategy Fund25.3$2 $21,467
11GMMBColumbia Intermediate Municipal Bond Strategy21.3$5 $9,077
12RWGColumbia Large-Cap Growth Equity25.3$9 $33,276
13FXRUCurrencyShares Russian Ruble Shares36.2$5 $69,566
14TDDdb-X 2010 Target Date Fund 49.7$14 $25,272
15TDXdb-X In-Target Date Fund 49.7$16 $28,546
16TYBSDirexion Daily 20+ Year Treasury Bear 1x 7.4$3 $21,082
17TYNSDirexion Daily 7-10 Year Treasury Bear 1x 7.4$4 $23,088
18BRISDirexion Daily BRIC Bear 2x20.0$3 $63,903
19BRILDirexion Daily BRIC Bull 2x 20.0$5 $92,391
20INDZDirexion Daily India Bear 2x20.0$3 $187,041
21LHBDirexion Daily Latin America Bear 3x 23.2$5 $874,934
22GASXDirexion Daily Natural Gas Related Bear 2x15.8$3 $258,086
23RETSDirexion Daily Retail Bear 2x15.8$2 $148,797
24RETLDirexion Daily Retail Bull 2x15.8$3 $158,811
25FGEMEGShares Financials GEMS ETF25.8$5 $35,289
26GWOELEMENTS CS Global Warming ETN43.5$3 $14,786
27DODELEMENTS Dogs of the Dow Total Return ETN48.4$5 $84,215
28WMWELEMENTS Morningstar Wide Moat Focus ETN49.1$10 $67,667
29EEHELEMENTS Spctrm LgCap US Sector Mo ETN51.7$1 $365
30EAPSESG Shares Pax MSCI EAFE ESG Index ETF 9.2$2 $37,910
31FOLFactorShares 2X: Oil Bull/S&P500 Bear 8.3$2 $67,935
32FSEFactorShares 2X: S&P500 Bull/TBond Bear 8.3$1 $34,632
33FSUFactorShares 2X: S&P500 Bull/USD Bear 8.3$2 $75,821
34FSAFactorShares 2X: TBond Bull/S&P500 Bear 8.3$3 $144,028
35FPAFirst Trust Asia Pacific Ex-Japan AlphaDEX 6.5$2 $31,926
36FCAFirst Trust China AlphaDEX Fund 6.5$3 $24,291
37FDDFirst Trust DJ STOXX European Select Div50.8$9 $96,079
38FEPFirst Trust Europe AlphaDEX Fund 6.5$2 $15,884
39FJPFirst Trust Japan AlphaDEX 6.5$4 $21,857
40FLNFirst Trust Latin America AlphaDEX 6.5$3 $20,892
41FNKFirst Trust Mid Cap Value AlphaDEX 6.5$3 $105,514
42QABAFirst Trust NASDAQ ABA Community Bank 28.4$12 $111,769
43FONEFirst Trust NASDAQ CEA Smartphone 8.5$15 $57,507
44FYTFirst Trust Small Cap Value AlphaDEX 6.5$2 $67,271
45FKOFirst Trust South Korea AlphaDEX 6.5$1 $30,390
46FVIFirst Trust Value Line Equity Allocation59.7$6 $57,600
47FBMFocus Morningstar Basic Materials Index ETF 7.2$4 $35,339
48FCQFocus Morningstar Communication Srvcs ETF 7.2$5 $13,759
49FCLFocus Morningstar Consumer Cyclical ETF 7.2$5 $10,296
50FCDFocus Morningstar Consumer Defensive ETF 7.2$5 $29,825
51FEGFocus Morningstar Energy Index ETF 7.2$4 $148,880
52FFLFocus Morningstar Financial Services ETF 7.2$4 $61,800
53FHCFocus Morningstar Health Care Index ETF 7.2$5 $36,482
54FILFocus Morningstar Industrials Index ETF 7.2$5 $26,220
55FLGFocus Morningstar Large Cap Index ETF 7.2$5 $103,303
56FMMFocus Morningstar Mid Cap Index ETF 7.2$5 $45,679
57FRLFocus Morningstar Real Estate Index ETF 7.2$5 $26,248
58FOSFocus Morningstar Small Cap Index ETF 7.2$5 $82,006
59FTQFocus Morningstar Technology Index ETF 7.2$5 $65,469
60FUIFocus Morningstar Utilities Index ETF 7.2$5 $35,882
61ALUMGlobal X Aluminum ETF 10.0$4 $65,463
62BRAFGlobal X Brazil Financials ETF 15.3$7 $51,592
63CHIEGlobal X China Energy ETF 22.8$5 $37,608
64CHIXGlobal X China Financials ETF 23.0$11 $241,919
65CHIIGlobal X China Industrial ETF23.3$5 $43,743
66CHIMGlobal X China Materials ETF 21.8$3 $34,870
67CHIBGlobal X China Technology ETF 23.0$5 $46,939
68ANDGlobal X FTSE Andean 40 ETF 9.0$7 $65,368
69ARGTGlobal X FTSE Argentina 20 ETF 8.1$4 $60,183
70XOILGlobal X Oil Equities ETF 7.7$3 $59,255
71GGGGGlobal X Pure Gold Miners ETF 7.7$5 $235,464
72EMGXGlobal X Russell Emerging Markets Growth ETF 9.3$2 $7,354
73EMVXGlobal X Russell Emerging Markets Value ETF 9.3$2 $11,729
74TSXVGlobal X S&P/TSX Venture 30 Canada ETF 7.6$3 $69,936
75WSTEGlobal X Waste Management ETF 6.7$2 $8,106
76GIYGuggenheim Enhanced Core Bond ETF45.2$5 $54,865
77GSYGuggenheim Enhanced Ultra-Short Bond ETF45.2$15 $95,904
78EENGuggenheim EW Euro-Pacific LDRs ETF 56.8$3 $9,077
79XGCGuggenheim International Small Cap LDRs 55.7$7 $62,294
80OTPGuggenheim Ocean Tomo Patent ETF 59.4$10 $25,179
81XROGuggenheim Sector Rotation ETF 62.2$14 $73,204
82WXSPGuggenheim Wilshire 4500 Completion ETF 20.0$6 $30,686
83WFVKGuggenheim Wilshire 5000 Total Market ETF 20.0$6 $52,452
84EKHHOLDRS Europe 2001 131.3$4 $19,375
85IIHHOLDRS Internet Infrastructure 142.2$10 $45,914
86MKHHOLDRS Merrill Lynch Market 2000+ 136.0$11 $32,068
87WMHHOLDRS Wireless 133.9$13 $12,962
88GBBiPath GBP/USD Exchange Rate ETN54.5$3 $17,486
89GRNiPath Global Carbon ETN40.8$2 $11,576
90MFLAiPath Long Enh 2x MSCI EAFE Index ETN 11.2$3 $22,289
91EMLBiPath Long Enh 2x MSCI Emerging Mkts ETN 11.2$4 $83,923
92ROLAiPath Long Ext 3x Russell 1000 TR ETN 11.2$5 $55,552
93RTLAiPath Long Ext 3x Russell 2000 TR ETN 11.2$4 $335,106
94SFLAiPath Long Ext 3x S&P 500 TR Index ETN 11.2$5 $591,555
95DIRTiPath Pure Beta Agriculture ETN 6.4$6 $59,614
96FOILiPath Pure Beta Aluminum ETN 6.4$4 $1,757
97BCMiPath Pure Beta Broad Commodity ETN 6.4$10 $76,680
98CHOCiPath Pure Beta Cocoa ETN 6.4$4 $64,128
99CAFEiPath Pure Beta Coffee ETN 6.4$7 $94,895
100CUPMiPath Pure Beta Copper ETN 6.4$5 $28,262
101CTNNiPath Pure Beta Cotton ETN 6.4$6 $49,330
102OLEMiPath Pure Beta Crude Oil ETN 6.4$5 $52,930
103ONGiPath Pure Beta Energy ETN 6.4$5 $26,407
104WEETiPath Pure Beta Grains ETN 6.4$8 $119,160
105HEVYiPath Pure Beta Industrial Metals ETN 6.4$4 $14,742
106LEDDiPath Pure Beta Lead ETN 6.4$5 $84,527
107NINIiPath Pure Beta Nickel ETN 6.4$4 $17,977
108BLNGiPath Pure Beta Precious Metals ETN 6.4$7 $43,190
109SBViPath Pure Beta S&P GSCI-Weighted ETN 6.4$5 $23,951
110GRWNiPath Pure Beta Softs ETN 6.4$7 $52,516
111DCNGiPath Seasonal Natural Gas ETN 6.4$5 $42,337
112MFSAiPath Short Enh -2x MSCI EAFE Index ETN 11.2$5 $31,089
113ROSAiPath Short Ext -3x Russell 1000 TR ETN 11.2$4 $142,530
114STPPiPath US Treasury Steepener ETN 14.9$3 $136,270
115TWONIQ Taiwan Small Cap 17.7$4 $35,740
116RTLiShares FTSE NAREIT Retail Capped54.6$9 $56,840
117AXDIiShares MSCI ACWI ex US Consumer Discr 15.7$6 $12,637
118AXSLiShares MSCI ACWI ex US Consumer Staples 15.7$3 $26,926
119AXENiShares MSCI ACWI ex US Energy 15.7$6 $41,028
120AXFNiShares MSCI ACWI ex US Financials 21.6$2 $17,215
121AXHEiShares MSCI ACWI ex US Health Care 15.7$6 $80,090
122AXIDiShares MSCI ACWI ex US Industrials 15.7$3 $8,615
123AXITiShares MSCI ACWI ex US Info Technology 15.7$3 $25,230
124AXMTiShares MSCI ACWI ex US Materials 15.7$6 $21,845
125AXTEiShares MSCI ACWI ex US Telecom Services 15.7$3 $26,965
126AXUTiShares MSCI ACWI ex US Utilities 15.7$2 $33,195
127EMFNiShares MSCI Emerging Markets Financials 21.6$6 $33,243
128EMMTiShares MSCI Emerging Markets Materials 21.6$9 $47,655
129FEFNiShares MSCI Far East Financials Sector 21.6$2 $2,486
130EIRLiShares MSCI Ireland Cap. Investable Mkt 18.1$7 $192,889
131EUSAiShares MSCI USA Index Fund 18.1$3 $196,388
132NUCLiShares S&P Global Nuclear Energy40.8$14 $67,510
133TZLiShares S&P Target Date 2030 Index Fund36.4$13 $144,498
134TZOiShares S&P Target Date 2035 Index Fund36.4$8 $47,106
135TZViShares S&P Target Date 2040 Index Fund36.4$15 $77,286
136TGRiShares S&P Target Date Retirement Inc.36.4$9 $153,117
137CRBIJefferies|TR/J CRB Global Ind Metals Equity24.5$4 $29,036
138DSXJJPM Qtrly Dbl Short US 10-Yr Treas Fut ETN13.0$9 $117,834
139DSTJJPM Qtrly Dbl Short US Long Treas Fut ETN13.0$8 $61,050
140JFTKEYnotes FT Enhanced 130/30 Large Cap ETN41.9$3 $6,835
141COLXMarket Vectors Colombia ETF 7.7$2 $15,555
142URRMarket Vectors Double Long Euro ETN42.4$1 $39,109
143GERJMarket Vectors Germany Small-Cap ETF 7.0$3 $73,015
144INRMarket Vectors Indian Rupee/USD ETN44.1$5 $47,039
145RSXJMarket Vectors Russia Small-Cap ETF 6.7$4 $45,944
146NASIPax MSCI North America ESG Index17.7$5 $49,124
147TRSYPIMCO Broad U.S. Treasury Index Fund12.1$19 $69,867
148PMAPowerShares Active Mega-Cap Portfolio43.2$5 $46,780
149JGBTPowerShares DB 3x Japanese G-Bond Fut ETN 7.4$4 $11,244
150ADZPowerShares DB Agriculture Short ETN43.1$2 $33,205
151BDGPowerShares DB Base Metals Long ETN41.1$2 $6,636
152DEEPowerShares DB Commodity Dbl Short ETN42.7$3 $124,883
153DPUPowerShares DB Commodity Long ETN42.7$6 $43,840
154DDPPowerShares DB Commodity Short ETN42.7$8 $542,733
155JGBLPowerShares DB Japanese G-Bond Fut ETN 7.4$5 $2,371
156PJBPowerShares Dynamic Banking61.5$13 $47,413
157PEZPowerShares Dynamic Cons Discretionary61.5$20 $133,316
158PICPowerShares Dynamic Insurance 73.2$8 $28,890
159PIQPowerShares Dynamic Magniquant 61.5$19 $53,180
160PXMCPowerShares Fundamental Pure Mid Core 59.8$21 $63,751
161PSTLPowerShares Global Steel Portfolio37.8$4 $18,875
162PTOPowerShares Ibbotson Alternative Completion 42.0$9 $41,040
163KBWXPowerShares KBW International Financial 11.1$3 $5,023
164KBWYPowerShares KBW Premium Yield Equity REIT 11.1$7 $77,382
165KBWPPowerShares KBW Property & Casualty Ins11.1$4 $3,268
166PMNAPowerShares MENA Frontier Countries40.3$20 $65,449
167PYHPowerShares Morningstar StockInvestor Core59.8$16 $33,810
168PSCMPowerShares S&P SmallCap Materials19.1$6 $148,630
169IGSProShares Short Investment Grade Corporate 7.2$2 $42,235
170UJBProShares Ultra High Yield 6.7$2 $37,394
171IGUProShares Ultra Investment Grade Corporate 6.7$2 $77,162
172KRUProShares Ultra KBW Regional Banking 18.6$3 $284,073
173UPVProShares Ultra MSCI Europe18.3$3 $263,901
174UMXProShares Ultra MSCI Mexico Investable Mkt18.3$2 $21,244
175UXJProShares Ultra MSCI Pacific Ex-Japan 18.3$3 $147,127
176UWCProShares Ultra Russell3000 28.4$7 $73,931
177LTLProShares Ultra Telecommunications 43.8$3 $112,027
178TBZProShares UltraShort 3-7 Year Treasury 7.0$4 $51,041
179RXDProShares UltraShort Healthcare 57.8$3 $122,731
180SMKProShares UltraShort MSCI Mexico28.8$3 $305,647
181JPXProShares UltraShort MSCI Pacific ex-Japan28.8$2 $67,044
182BISProShares UltraShort Nasdaq Biotechnology19.0$4 $93,713
183SFKProShares UltraShort Russell 1000 Growth57.0$6 $516,338
184SJFProShares UltraShort Russell 1000 Value57.0$2 $86,310
185SDKProShares UltraShort Russell Midcap Growth57.0$3 $206,313
186SJLProShares UltraShort Russell Midcap Value57.0$2 $106,081
187TWQProShares UltraShort Russell300028.4$2 $119,672
188TLLProShares UltraShort Telecom 43.8$3 $76,852
189TPSProShares UltraShort TIPS 8.8$3 $53,478
190SDPProShares UltraShort Utilities 57.8$3 $234,218
191RWWRevenueShares Financials Sector Fund36.2$8 $60,448
192ONEFRussell Equity ETF17.9$7 $133,307
193EWACRydex MSCI All Country World Equal Weight 9.7$4 $46,390
194VRDSPDR Nuveen S&P VRDO Municipal Bond ETF 25.6$12 $131,170
195JPPSPDR Russell/Nomura PRIME Japan60.4$15 $68,643
196IPUSPDR S&P International Utilities 39.8$11 $121,163
197KMESPDR S&P Mortgage Finance ETF30.5$3 $12,361
198NAGSTeucrium Natural Gas Fund 9.1$2 $38,619
199MLPSUBS ETRACS 1x Mthly Short Alerian MLP ETN 13.2$11 $56,747
200MLPGUBS ETRACS Alerian Natural Gas MLP ETN 15.8$15 $198,160
201UBNUBS ETRACS CMCI Energy TR ETN43.5$3 $29,378
202UBGUBS ETRACS CMCI Gold TR ETN43.5$9 $168,687
203UBMUBS ETRACS CMCI Industrial Metals TR ETN43.5$6 $24,377
204UBCUBS ETRACS CMCI Livestock TR ETN43.5$5 $11,070
205PTDUBS ETRACS CMCI Short Platinum ER ETN42.3$3 $6,165
206BDCSUBS ETRACS Wells Fargo BDC ETN 6.2$9 $61,066
207MLPWUBS ETRACS Wells Fargo MLP Index ETN 12.1$18 $51,571
208IVOVVanguard S&P Mid-Cap 400 Value ETF 13.9$6 $47,508
209VIIZVelocityShares VIX Medium-Term ETN 11.2$9 $213,132
210EUWisdomTree Euro Debt Fund 42.2$5 $63,583
211HEDJWisdomTree International Hedged Equity 22.3$19 $61,519
Data sources:  AUM from National Stock Exchange, daily prices and volume of individual ETPs from Norgate Premium Data, and all other information compiled by Invest With An Edge.

Past issues of ETF Deathwatch are available here.

Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned.  No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.

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