ETF Deathwatch – October 2009

The “official” number of exchange-traded products on Deathwatch dropped for the second month in a row.  This month’s list contains 111 names, seven fewer than last month.

E-TRACS CMCI Short Platinum Excess Return (PTD) heads the list again this month.  PTD saw action on only three days in September, with a total of 500 shares traded for the entire month.  The other 18 days were all zero volume days.  The last trade took place back on September 17.  Many ETF investors have never heard of E-TRACS, which may be why 90% of their product line is on ETF Deathwatch this, and every, month.

Other names seem to be perpetually near the top of the list.  Funds like Elements Special Large Cap US Sector Momentum ETN (EEH), Claymore/Morningstar Services SuperSector (MZO) (along with its brothers MZN & MZG), and the Elements Ben Graham trio (BVL, BSC, and BVT) show up month after month.  The sponsors will need to do something eventually.

The recent regulatory activity of the CFTC on commodity-based funds caused PowerShares DB Crude Oil Double Long ETN (DXO) to be delisted and liquidated in September.  It also prompted me to place all commodity ETFs and ETNs on “unofficial” ETF Deathwatch until these issues are resolved.

Deutsche Bank (DB) and PowerShares have redefined the underlying indexes to help alleviate the problems with two of their funds.  A September 30 press release from DB said the number of commodities held by PowerShares DB Agriculture (DBA) will go up from four to eleven, while the number for PowerShares DB Commodity (DBC) will go from six to fourteen.  These changes will take place by October 30.

The current “official” list consists of 77 ETFs and 34 ETNs that are at least six months old and failed to have an Average Daily Value Traded (ADVT) of at least $100,000 during September.

ETF Deathwatch - October 2009

Rank	Ticker	Name	Age (mths)	Avg Daily Volume	Avg Daily Value Traded
1	PTD	E-TRACS CMCI Short Platinum Exc Ret ETN	17	24	$812
2	EEH	Elements Spec LgCap US Sector Mo ETN	26	162	$1,190
3	JFT	First Trust Enhanced 130/30 Large Cap ETN	17	95	$2,610
4	JEM	Barclays GEMS Currency Index ETN	20	67	$2,959
5	MZO	Claymore/Mrngstr Services SuperSector	26	219	$3,768
6	PGD	Barclays Asian&Gulf Currency Reval. ETN	16	95	$4,733
7	RTW	Rydex Inverse 2x S&P Technology	16	276	$6,768
8	BVL	Elements Ben Graham Large Cap Value ETN	14	767	$6,883
9	TZO	iShares S&P Target Date 2035 Index Fund	11	248	$7,245
10	CZA	Claymore/Zacks Mid-Cap Core ETF	30	376	$8,073
11	TGR	iShares S&P Target Date Retirement Inc.	11	295	$8,134
12	OTR	Claymore/Ocean Tomo Growth	30	386	$8,374
13	INR	Market Vectors Indian Rupee/USD ETN	19	233	$8,865
14	GWO	Elements CS Global Warming ETN	18	1,243	$9,057
15	FUE	Elements MLCX Biofuels ETN	20	1,367	$10,524
16	BVT	Elements Ben Graham Total Mkt Value ETN	14	1,129	$10,832
17	IIH	HOLDRS Internet Infrastructure	117	5,005	$11,362
18	OTP	Claymore/Ocean Tomo Patent	34	543	$11,407
19	MZN	Claymore/Mrngstr Inform. SuperSector	26	586	$11,767
20	BHH	HOLDRS B2B Internet ETF	117	28,276	$12,150
21	DOD	Elements Dogs of the Dow Total Return ETN	23	1,862	$12,187
22	TZG	iShares S&P Target Date 2020 Index Fund	11	448	$12,916
23	AGF	PowerShares DB Agriculture Long ETN	18	852	$13,576
24	AYT	Barclays GEMS Asia 8 ETN	13	300	$13,701
25	UBG	E-TRACS CMCI Gold Total Return ETN	18	500	$13,738
26	TZE	iShares S&P Target Date 2015 Index Fund	11	481	$13,787
27	MKH	HOLDRS Merrill Lynch Market 2000+	111	295	$13,914
28	TZD	iShares S&P Target Date 2010 Index Fund	11	510	$14,433
29	TZI	iShares S&P Target Date 2025 Index Fund	11	514	$14,701
30	UBN	E-TRACS CMCI Energy Total Return ETN	18	1,086	$15,499
31	JJT	iPath DJ-UBS Tin ETN	15	457	$15,825
32	STH	Claymore/Sabrient Stealth	37	1,157	$17,179
33	IPS	SPDR S&P International Consumer Staples	14	657	$17,207
34	PNXQ	PowerShares Nasdaq Next Q	18	810	$17,482
35	TZV	iShares S&P Target Date 2040 Index Fund	11	667	$19,289
36	FVI	First Trust Value Line Equity Allocation	34	1,286	$20,468
37	CSD	Claymore/Beacon Spin-Off ETF	34	1,314	$22,336
38	ERO	iPath EUR/USD Exchange Rate ETN	29	410	$23,338
39	RHO	Rydex Inverse 2x S&P Health Care	16	590	$23,607
40	BSC	Elements Ben Graham Small Cap Value ETN	14	2,395	$24,091
41	CRO	Claymore/Zacks Country Rotation	27	1,495	$24,359
42	UCI	E-TRACS CMCI Total Return ETN	18	1,400	$24,552
43	ADZ	PowerShares DB Agriculture Short ETN	18	714	$24,798
44	UAG	E-TRACS CMCI Agriculture TR ETN	18	1,305	$25,715
45	GRN	iPath Global Carbon ETN	15	1,000	$26,422
46	DPC	WisdomTree Intl Consumer Cyclical	36	1,457	$27,326
47	PQSC	PowerShares FTSE Nasdaq Small Cap	18	1,252	$27,338
48	PSTL	PowerShares Global Steel Portfolio	12	1,376	$27,494
49	TZL	iShares S&P Target Date 2030 Index Fund	11	957	$27,822
50	PQY	PowerShares Active AlphaQ	18	1,352	$27,982
51	EXB	Claymore/Beacon Gbl Exch, Brkrs, & Asst Mgrs	28	2,124	$29,623
52	IPD	SPDR S&P International Consumer Discr	14	1,400	$33,572
53	UBD	Claymore U.S. Capital Markets Bond ETF	20	705	$34,109
54	UEM	Claymore U.S.-1-The Capital Markets	20	848	$34,903
55	JYF	WisdomTree Dreyfus Japan Yen	17	1,243	$35,768
56	WMH	HOLDRS Wireless	109	752	$35,871
57	GBB	iPath GBP/USD Exchange Rate ETN	29	857	$37,861
58	UBM	E-TRACS CMCI Industrial Metals TR ETN	18	2,129	$37,930
59	UBC	E-TRACS CMCI Livestock Total Return ETN	18	2,229	$38,005
60	ROB	Claymore/Robb Report Global Luxury	26	2,300	$38,182
61	FAD	First Trust Multi Cap Growth AlphaDEX	29	1,724	$38,341
62	MZG	Claymore/Mrngstr Manufact. SuperSector	26	1,971	$38,670
63	DPU	PowerShares DB Commodity Long ETN	17	2,700	$38,919
64	JYN	iPath JPY/USD Exchange Rate ETN	29	605	$39,381
65	FUD	E-TRACS CMCI Food Total Return ETN	18	2,095	$40,546
66	JJU	iPath DJ-UBS Aluminum ETN	15	1,519	$40,660
67	PQZ	PowerShares Active Alpha Multi-Cap	18	2,600	$41,612
68	PTO	PowerShares Auto Growth NFA	17	4,005	$42,263
69	PMA	PowerShares Active Mega-Cap Portfolio	18	2,014	$43,091
70	EKH	HOLDRS Europe 2001	106	719	$43,767
71	DEF	Claymore/Sabrient Defender	34	2,252	$44,664
72	USV	E-TRACS CMCI Silver Total Return ETN	18	1,895	$45,288
73	REC	Rydex Inverse 2x S&P Energy	16	7,086	$45,831
74	IRY	SPDR S&P International Health Care	14	1,633	$45,884
75	EEN	Claymore/BNY Mellon EW Euro-Pacific LDRs	31	2,657	$46,903
76	PJO	PowerShares FTSE RAFI Japan	28	1,343	$50,891
77	BDG	PowerShares DB Base Metals Lng ETN	16	2,652	$51,819
78	BOS	PowerShares DB Base Metals Sht ETN	16	1,914	$51,830
79	RHS	Rydex S&P Equal Weight Cons Staples	35	1,114	$52,242
80	PTRP	PowerShares Glb Progressive Transport.	13	2,138	$56,057
81	TLL	ProShares UltraShort Telecom	18	2,862	$58,649
82	JPP	SPDR Russell/Nomura PRIME Japan	35	1,576	$60,514
83	BDH	HOLDRS Broadband ETF	115	5,114	$62,222
84	RHM	Rydex 2x S&P Health Care	16	1,143	$65,077
85	PAO	PowerShares Auto Balanced Growth NFA	17	5,986	$66,009
86	RYU	Rydex S&P Equal Weight Utilities	35	1,605	$69,349
87	IRO	Claymore/Zacks Dividend Rotation	24	3,943	$69,426
88	ADRU	BLDRS Europe 100 ADR	84	3,414	$71,752
89	ICI	iPath Optimized Currency Carry ETN	18	1,614	$71,938
90	FPX	First Trust US IPO Index Fund	42	3,895	$72,501
91	PIQ	PowerShares Dynamic Magniquant	36	3,971	$75,072
92	IPU	SPDR S&P International Utilities	14	3,338	$75,497
93	PTE	PowerShares Dynamic Telecom & Wireless	46	6,133	$76,421
94	XGC	Claymore/BNY Mellon Intl Small Cap LDRs	30	4,443	$77,397
95	URR	Market Vectors Double Long Euro ETN	17	2,281	$78,827
96	BOM	PowerShares DB Base Metals Dbl Sh ETN	16	3,176	$80,351
97	PZJ	PowerShares Zacks Small Cap	44	4,919	$80,818
98	TDV	TDX Independence 2040	24	4,500	$81,430
99	TDD	TDX Independence 2010	24	3,529	$81,453
100	RGI	Rydex S&P Equal Weight Industrials	35	2,143	$88,079
101	NUCL	iShares S&P Global Nuclear Energy	15	2,090	$88,601
102	PIC	PowerShares Dynamic Insurance	48	6,548	$88,918
103	PEF	PowerShares FTSE RAFI Europe	28	2,486	$90,224
104	PEZ	PowerShares Dynamic Cons Discretionary	36	4,871	$91,654
105	QQXT	First Trust Nasdaq-100 Ex-Technology	32	5,476	$92,109
106	EXT	WisdomTree Total Earnings	32	2,519	$93,186
107	PWT	PowerShares Dynamic Small Cap Growth	56	7,862	$93,217
108	PBTQ	PowerShares Global Biotech Portfolio	13	4,062	$96,693
109	FAB	First Trust Multi Cap Value AlphaDEX	29	4,348	$96,751
110	IFNA	iShares FTSE NAREIT North America	23	3,267	$99,075
111	SJL	ProShares UltraShort Russell Midcap Value	32	2,943	$99,660

Disclosure: no positions