ETF Deathwatch – November 2009

The number of funds on ETF Deathwatch edged up to 113 this month from 111 in October.  The count consists of 78 ETFs and 35 ETNs that failed to generate at least $100,000 in average daily value traded (ADVT) for the past month.

E-TRACS CMCI Short Platinum Excess Return (PTD) heads the list again this month.  I haven’t checked, but my guess is that PTD holds the record for number of times at the top of the list.  PTD saw action on only three days in September and did the same in October, with the other 19 days being zero volume days.  However, it did manage to boost trading by 100 shares over September, making for 600 total shares traded last month.  Although PTD hasn’t traded in a few days, there are shares available for purchase at $34.02 this morning.  If you want to sell, the bid is only $33.62.

I’m not sure what the grand plan is for E-TRACS, but surely someone on the inside must be questioning its ongoing viability in this business.  However, that voice was not heard last week when UBS launched yet another ETN, even though 90% of the E-TRACS product line was already on deathwatch.

To make things worse for these struggling ETFs, ETNs, and sponsors, Schwab has now upped the ante for anyone wanting to compete in this arena.  The directors for the 113 products listed below need to demand answers.  At what point do they pull the plug and end the suffering?

ETF Deathwatch - November 2009

Rank	Ticker	Name	Age (mths)	Avg Daily Volume	Avg Daily Value Traded
1	PTD	E-TRACS CMCI Short Platinum Exc Ret ETN	18	18	$614
2	BVL	Elements Ben Graham Large Cap Value ETN	15	68	$633
3	RHO	Rydex Inverse 2x S&P Health Care	17	73	$2,933
4	MZO	Claymore/Mrngstr Services SuperSector	27	200	$3,481
5	TZD	iShares S&P Target Date 2010 Index Fund	12	145	$4,187
6	JJT	iPath DJ-UBS Tin ETN	16	123	$4,300
7	PGD	Barclays Asian&Gulf Currency Reval. ETN	17	91	$4,557
8	RTW	Rydex Inverse 2x S&P Technology	17	223	$4,900
9	GWO	Elements CS Global Warming ETN	19	773	$5,397
10	OTP	Claymore/Ocean Tomo Patent	35	259	$5,590
11	MZN	Claymore/Mrngstr Inform. SuperSector	27	300	$6,171
12	UBC	E-TRACS CMCI Livestock Total Return ETN	19	473	$8,292
13	TZO	iShares S&P Target Date 2035 Index Fund	12	395	$11,601
14	FUE	Elements MLCX Biofuels ETN	21	1,523	$11,925
15	IIH	HOLDRS Internet Infrastructure	118	5,005	$12,171
16	TZE	iShares S&P Target Date 2015 Index Fund	12	445	$12,974
17	PBTQ	PowerShares Global Biotech Portfolio	14	582	$13,442
18	AYT	Barclays GEMS Asia 8 ETN	14	291	$13,481
19	IPS	SPDR S&P International Consumer Staples	15	523	$13,931
20	JFT	First Trust Enhanced 130/30 Large Cap ETN	18	518	$14,303
21	PNXQ	PowerShares Nasdaq Next Q	19	709	$15,505
22	JEM	Barclays GEMS Currency Index ETN	21	345	$15,668
23	EEH	Elements Spec LgCap US Sector Mo ETN	27	2,055	$16,512
24	AGF	PowerShares DB Agriculture Long ETN	19	1,068	$17,575
25	BHH	HOLDRS B2B Internet ETF	118	43,723	$18,286
26	CZA	Claymore/Zacks Mid-Cap Core ETF	31	939	$20,350
27	UBD	Claymore U.S. Capital Markets Bond ETF	21	427	$20,406
28	DOD	Elements Dogs of the Dow Total Return ETN	24	3,041	$20,480
29	ADZ	PowerShares DB Agriculture Short ETN	19	636	$20,541
30	UBN	E-TRACS CMCI Energy Total Return ETN	19	1,350	$20,573
31	BOS	PowerShares DB Base Metals Sht ETN	17	859	$22,261
32	PMA	PowerShares Active Mega-Cap Portfolio	19	1,073	$22,856
33	UEM	Claymore U.S.-1-The Capital Markets	21	555	$22,901
34	UBG	E-TRACS CMCI Gold Total Return ETN	19	805	$23,126
35	IRY	SPDR S&P International Health Care	15	814	$23,181
36	BVT	Elements Ben Graham Total Mkt Value ETN	15	2,409	$23,642
37	PLK	PowerShares Active Low Duration	19	982	$24,930
38	TZI	iShares S&P Target Date 2025 Index Fund	12	882	$25,857
39	PAO	PowerShares Auto Balanced Growth NFA	18	2,350	$26,399
40	FUD	E-TRACS CMCI Food Total Return ETN	19	1,336	$27,023
41	TGR	iShares S&P Target Date Retirement Inc.	12	995	$27,530
42	INR	Market Vectors Indian Rupee/USD ETN	20	741	$28,414
43	GCE	Claymore CEF Index GS Connect ETN	23	1,814	$28,688
44	PQZ	PowerShares Active Alpha Multi-Cap	19	1,827	$29,473
45	RHM	Rydex 2x S&P Health Care	17	518	$29,837
46	IPU	SPDR S&P International Utilities	15	1,382	$30,403
47	PTO	PowerShares Auto Growth NFA	18	2,873	$30,850
48	TZL	iShares S&P Target Date 2030 Index Fund	12	1,059	$31,386
49	FVI	First Trust Value Line Equity Allocation	35	2,023	$31,799
50	BDG	PowerShares DB Base Metals Lng ETN	17	1,550	$31,976
51	BSC	Elements Ben Graham Small Cap Value ETN	15	3,336	$34,164
52	MZG	Claymore/Mrngstr Manufact. SuperSector	27	1,682	$34,798
53	PQY	PowerShares Active AlphaQ	19	1,750	$36,405
54	IPD	SPDR S&P International Consumer Discr	15	1,500	$36,674
55	XRU	CurrencyShares Russian Ruble Shares	12	1,127	$38,610
56	JPP	SPDR Russell/Nomura PRIME Japan	36	1,073	$39,682
57	BOM	PowerShares DB Base Metals Dbl Sh ETN	17	1,777	$39,848
58	OTR	Claymore/Ocean Tomo Growth	31	1,841	$41,455
59	GRN	iPath Global Carbon ETN	16	1,600	$42,426
60	CRO	Claymore/Zacks Country Rotation	28	2,686	$44,493
61	TZG	iShares S&P Target Date 2020 Index Fund	12	1,527	$44,780
62	DEF	Claymore/Sabrient Defender	35	2,395	$48,233
63	TZV	iShares S&P Target Date 2040 Index Fund	12	1,636	$48,623
64	UBM	E-TRACS CMCI Industrial Metals TR ETN	19	2,736	$49,778
65	DPC	WisdomTree Intl Consumer Cyclical	37	2,732	$51,788
66	PQBW	PowerShares Nasdaq 100 Buy/Write	17	2,395	$52,487
67	AGA	PowerShares DB Agriculture Dbl Short ETN	19	1,359	$54,566
68	RYU	Rydex S&P Equal Weight Utilities	36	1,277	$55,658
69	UCI	E-TRACS CMCI Total Return ETN	19	3,032	$56,363
70	JJU	iPath DJ-UBS Aluminum ETN	16	2,086	$56,502
71	USV	E-TRACS CMCI Silver Total Return ETN	19	2,377	$59,351
72	UAG	E-TRACS CMCI Agriculture TR ETN	19	2,886	$59,420
73	URR	Market Vectors Double Long Euro ETN	18	1,661	$59,945
74	EEN	Claymore/BNY Mellon EW Euro-Pacific LDRs	33	3,386	$61,073
75	FAD	First Trust Multi Cap Growth AlphaDEX	30	2,736	$61,672
76	PQSC	PowerShares FTSE Nasdaq Small Cap	19	2,932	$61,713
77	RHS	Rydex S&P Equal Weight Cons Staples	36	1,268	$61,947
78	BWV	iPath CBOE S&P 500 BuyWrite Index ETN	30	1,459	$62,234
79	TDX	TDX Independence In-Target	25	2,567	$64,453
80	KME	SPDR KBW Mortgage Finance ETF	6	1,564	$64,468
81	PFI	PowerShares Dynamic Financials	37	3,982	$68,401
82	JYF	WisdomTree Dreyfus Japan Yen	18	2,368	$68,754
83	EKH	HOLDRS Europe 2001	107	1,132	$69,241
84	FDD	First Trust DJ STOXX European Select Dividend	26	4,950	$70,120
85	EXB	Claymore/Beacon Gbl Exch, Brkrs, & Asst Mgrs	29	4,973	$70,304
86	ADRU	BLDRS Europe 100 ADR	85	3,300	$70,429
87	IRO	Claymore/Zacks Dividend Rotation	25	3,986	$70,871
88	ERO	iPath EUR/USD Exchange Rate ETN	30	1,227	$71,000
89	MBG	SPDR Barclays Mortgage Backed Bond ETF	9	2,736	$73,340
90	IFNA	iShares FTSE NAREIT North America	24	2,464	$73,445
91	WMH	HOLDRS Wireless	110	1,664	$75,174
92	STH	Claymore/Sabrient Stealth	38	4,968	$75,696
93	TLL	ProShares UltraShort Telecom	19	4,170	$76,766
94	PZJ	PowerShares Zacks Small Cap	45	4,623	$77,923
95	FPX	First Trust US IPO Index Fund	43	4,186	$80,216
96	XGC	Claymore/BNY Mellon Intl Small Cap LDRs	31	4,423	$81,761
97	TDD	TDX Independence 2010	25	3,532	$82,302
98	INY	SPDR Barclays New York Muni Bond	25	3,709	$83,693
99	SJL	ProShares UltraShort Russell Midcap Value	33	2,691	$86,095
100	FTC	First Trust Large Cap Growth Op AlphaDEX	30	4,009	$87,014
101	PCA	PowerShares Auto Balanced NFA	18	7,468	$88,154
102	RMS	Rydex Inverse 2x S&P MidCap 400	24	2,505	$88,648
103	JJP	iPath DJ-UBS Precious Metals ETN	16	1,595	$90,303
104	TDN	TDX Independence 2030	25	4,907	$91,220
105	RTL	iShares FTSE NAREIT Retail Capped	30	4,714	$92,490
106	EMV	SPDR Dow Jones Mid Cap Value	48	2,182	$93,529
107	DDP	PowerShares DB Commodity Short ETN	18	2,314	$93,862
108	IPF	SPDR S&P International Financial	16	4,414	$94,821
109	PYH	PowerShares Value Line Industry Rotation	36	5,450	$95,549
110	PJO	PowerShares FTSE RAFI Japan	29	2,632	$96,106
111	TDH	TDX Independence 2020	25	4,624	$96,839
112	ROB	Claymore/Robb Report Global Luxury	27	5,673	$97,775
113	MKH	HOLDRS Merrill Lynch Market 2000+	112	2,082	$98,247

Note: New ETFs and ETNs are given a six-month grace period before becoming eligible for inclusion on this list.  As of 10/31/2009, there were 60 products granted that exclusion.

Disclosure compliant with FTC 16 CFR Part 255 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.