CNBC Discovers ETF Deathwatch

Here at InvestWithAnEdge.com, we’ve been banging the drum on the exploding nature of the ETF market and thus the pruning of the glut of ETFs that rushed to grab their share of this manifest destiny.  Ron has been at the forefront of keeping investors abreast of the comings and goings in the ETF space, and nothing has become more valuable than his monthly ETF Deathwatch.  Started 4 years ago, it is now required reading for traders and long-term investors alike.

The folks at CNBC, specifically Herb Greenberg, have been the latest converts to this expertise.  Greenberg highlighted ETF Deathwatch in his blog Wednesday and invited Ron as a guest contributor on Street Signs to talk about the subject of dying ETFs and future impacts in the marketplace.  Below is a video link for those that may have missed it or if you want to watch it again.  The newly released ETF Field Guide is a wonderful reference to guard against these type of failures.

ETF Deathwatch for March 2012: Inching Toward 300

The ETF Deathwatch list now stands at 291 (216 ETFs and 75 ETNs), inching closer to the 300 mark.  The net increase from last month was three, as sixteen names joined and thirteen came off.  Most of the removals came via the delisting and closure of eight Global X ETFs.  Five others escaped the list more honorably through increased trading activity and/or asset growth.

A product’s appearance on ETF Deathwatch is neither a death sentence nor a lifetime conviction [see Barron’s ‘Deathwatch’ ETFs Can Be Resurrected].  Membership is dynamic, with healthy funds coming off the list and struggling ones joining.  In theory, a list from three years ago should bear little resemblance to current membership.  The reason for this is simple: many of these ETFs gain assets and subsequently rotate off Deathwatch as their threat of closure subsides.  Others leave because they actually do close.  In a few cases, however, sponsors ares willing to provide life-support to an unprofitable product for long periods.  This is why a few ETFs remain on the list for years.  Sometimes it is a strategic decision, but other times looks more like pure stubbornness.

Most of the 291 products on Deathwatch face a real possibility of closure.  The largest risk is not, however, that they may close in the future.  No, the more notable risk is that they suffer from extremely poor liquidity today.  Wide bid/ask spreads, little to no volume behind the quotes, and sleeping market makers can potentially inflict much more damage on unknowing investors than a fund closure.

Still don’t think illiquidity is a problem?  Here’s a fact to consider: On the last day of February, a total of 152 ETFs and ETNs had no trades for the day.  Their volume was zero.  Seven went the entire month with no volume.  One product, iPath Long Extended 3x Russell 1000 TR ETN (ROLA), has yet to post its first trade of 2012.

What makes ETFs unique and limits discounts and premiums is their ability to create and redeem shares through in-kind exchange.  However, this process requires trading activity.  The creation/redemption process typically involves 50,000 shares of the ETF.  The ETFs on Deathwatch routinely take weeks or months to generate that much volume.  For them, the creation/redemption process is virtually non-existent.  There is no ability to arbitrage the price to the net asset value.

The 16 ETPs Added to ETF Deathwatch for March 2012:

1. Barclays ETN+ S&P 500 1x Short B ETN (BXDB)
2. Direxion Daily 7-10 Year Treasury Bull 3x (TYD)
3. Direxion Daily Agribusiness Bull 3x (COWL)
4. EGShares India Consumer ETF (INCO)
5. Guggenheim MSCI EAFE Equal Weight ETF (EWEF)
6. Guggenheim S&P MidCap 400 Equal Weight (EWMD)
7. Guggenheim S&P SmallCap 600 Equal Weight (EWSM)
8. Guggenheim Wilshire Micro-Cap ETF (WMCR)
9. iPath CBOE S&P 500 BuyWrite Index ETN (BWV)
10. iShares S&P Target Date 2045 Index Fund (TZW)
11. iShares S&P Target Date 2050 Index Fund (TZY)
12. ProShares Ultra DJ-UBS Commodity (UCD)
13. ProShares Ultra Yen (YCL)
14. Russell 2000 High Volatility ETF (SHVY)
15. SPDR S&P International Technology (IPK)
16. Teucrium WTI Crude Oil Fund (CRUD)

The 13 ETPs removed from ETF Deathwatch for March 2012:

1. Barclays ETN+ S&P 500 2x Short C ETN (BXDC) due to increased trading
2. First Trust DJ STOXX European Select Dividend (FDD) due to increased trading
3. Global X Farming ETF (BARN) closed 2/16/12
4. Global X Fishing Industry ETF (FISN) closed 2/16/12
5. Global X Food ETF (EATX) closed 2/16/12
6. Global X Mexico Small-Cap ETF (MEXS) closed 2/16/12
7. Global X Oil Equities ETF (XOIL) closed 2/16/12
8. Global X Russell Emerging Markets Growth ETF (EMGX) closed 2/16/12
9. Global X Russell Emerging Markets Value ETF (EMVX) closed 2/16/12
10. Global X Waste Management ETF (WSTE) closed 2/16/12
11. Guggenheim Enhanced Short Duration Bond (GSY) assets surged to $149 million
12. IQ US Real Estate Small Cap ETF (ROOF) assets increased to $31 million
13. UBS ETRACS CMCI Gold TR ETN (UBG) due to increased trading

The ETF Deathwatch criteria produced the following list of 291 ETPs for March:

ETF Deathwatch for March 2012

#	Ticker Sym	ETF Name	Age (mths)	AUM (millions)	3-mth Avg Daily $ Volume
1	AGLS	AdvisorShares Accuvest Global Long Short ETF	20	$14.0	$238,366
2	DENT	AdvisorShares Dent Tactical ETF	30	$8.3	$107,453
3	FWDD	AdvisorShares Madrona Domestic ETF	8	$15.8	$21,442
4	FWDB	AdvisorShares Madrona Global Bond ETF	8	$16.1	$31,852
5	FWDI	AdvisorShares Madrona International ETF	8	$12.9	$16,168
6	MATH	AdvisorShares Meidell Tactical Advantage ETF	8	$4.0	$72,685
7	AADR	AdvisorShares WCM/BNY Mellon Foc Gr ADR	20	$7.6	$91,639
8	BXDB	Barclays ETN+ S&P 500 1x Short B 2009 ETN	28	$4.9	$61,583
9	ADRU	BLDRS Europe 100 ADR	113	$14.0	$53,284
10	GCE	Claymore CEF Index GS Connect ETN	51	$3.6	$90,743
11	GVT	Columbia Concentrated Large Cap Value Strat	34	$3.0	$10,442
12	GMTB	Columbia Core Bond Strategy Fund	25	$5.2	$21,933
13	RPX	Columbia Growth Equity Strategy Fund	29	$1.5	$18,397
14	GMMB	Columbia Intermediate Municipal Bond Strategy	25	$5.6	$47,280
15	RWG	Columbia Large-Cap Growth Equity	29	$7.5	$34,685
16	CSMB	Credit Suisse Merger Arb Liquid 2x Mth ETN	12	$23.8	$64,727
17	FXRU	CurrencyShares Russian Ruble Shares	40	$5.1	$26,601
18	TDD	db-X 2010 Target Date Fund	54	$14.2	$23,624
19	TDX	db-X In-Target Date Fund	54	$15.8	$27,544
20	DBBR	db-X MSCI Brazil Currency-Hedged Equity	9	$4.9	$1,911
21	DBCN	db-X MSCI Canada Currency-Hedged Equity	9	$4.8	$1,382
22	DBEM	db-X MSCI Emerging Mkts Currency-Hdg Eqty	9	$4.8	$27,042
23	DBJP	db-X MSCI Japan Currency-Hedged Equity	9	$5.2	$25,391
24	TYBS	Direxion Daily 20+ Year Treasury Bear 1x	11	$2.9	$4,083
25	TYNS	Direxion Daily 7-10 Year Treasury Bear 1x	11	$3.4	$1,831
26	TYD	Direxion Daily 7-10 Year Treasury Bull 3x	35	$3.9	$589,997
27	COWS	Direxion Daily Agribusiness Bear 3x	9	$2.2	$115,070
28	COWL	Direxion Daily Agribusiness Bull 3x	9	$4.6	$226,219
29	MATS	Direxion Daily Basic Materials Bear 3x	9	$2.5	$167,379
30	BRIS	Direxion Daily BRIC Bear 3x	24	$1.8	$70,391
31	BRIL	Direxion Daily BRIC Bull 3x	24	$7.7	$313,506
32	SICK	Direxion Daily Healthcare Bear 3x	9	$2.7	$29,173
33	CURE	Direxion Daily Healthcare Bull 3x	9	$4.0	$65,286
34	INDZ	Direxion Daily India Bear 3x	24	$4.4	$320,503
35	GASX	Direxion Daily Natural Gas Related Bear 3x	20	$2.3	$327,151
36	RETS	Direxion Daily Retail Bear 3x	20	$1.5	$121,192
37	TOTS	Direxion Daily Total Market Bear 1x	9	$3.4	$12,630
38	LGEM	EGShares Basic Materials GEMS ETF	8	$1.7	$21,844
39	GGEM	EGShares Consumer Goods GEMS ETF	8	$1.1	$13,454
40	VGEM	EGShares Consumer Services GEMS ETF	8	$1.0	$11,617
41	FGEM	EGShares Financials GEMS ETF	30	$3.2	$20,461
42	HGEM	EGShares Health Care GEMS ETF	8	$1.9	$9,683
43	INCO	EGShares India Consumer ETF	7	$1.9	$23,239
44	IGEM	EGShares Industrials GEMS ETF	8	$2.9	$28,984
45	QGEM	EGShares Technology GEMS ETF	8	$1.9	$4,959
46	TGEM	EGShares Telecom GEMS ETF	8	$2.0	$22,406
47	UGEM	EGShares Utilities GEMS ETF	8	$2.9	$41,609
48	GWO	ELEMENTS CS Global Warming ETN	48	$3.0	$6,513
49	DOD	ELEMENTS Dogs of the Dow Total Return ETN	52	$16.1	$263,026
50	FUE	ELEMENTS MLCX Biofuels ETN	49	$2.2	$7,255
51	WMW	ELEMENTS Morningstar Wide Moat Focus ETN	53	$8.2	$73,134
52	EEH	ELEMENTS Spctrm LgCap US Sector Mo ETN	56	$1.1	$2,927
53	EAPS	ESG Shares Pax MSCI EAFE ESG Index ETF	13	$7.0	$173,755
54	FOL	FactorShares 2X: Oil Bull/S&P500 Bear	12	$2.0	$69,738
55	FSE	FactorShares 2X: S&P500 Bull/TBond Bear	12	$1.4	$17,679
56	FSU	FactorShares 2X: S&P500 Bull/USD Bear	12	$2.3	$4,556
57	FSA	FactorShares 2X: TBond Bull/S&P500 Bear	12	$2.4	$10,464
58	FPA	First Trust Asia Pacific Ex-Japan AlphaDEX	11	$2.6	$67,521
59	FBZ	First Trust Brazil AlphaDEX Fund	11	$8.4	$67,244
60	FCA	First Trust China AlphaDEX Fund	11	$3.6	$36,031
61	FEP	First Trust Europe AlphaDEX Fund	11	$3.7	$129,147
62	FJP	First Trust Japan AlphaDEX	11	$3.9	$56,229
63	FLN	First Trust Latin America AlphaDEX	11	$4.4	$50,507
64	FMK	First Trust Mega Cap AlphaDEX Fund	10	$5.9	$116,193
65	FNK	First Trust Mid Cap Value AlphaDEX	11	$8.4	$92,289
66	QABA	First Trust NASDAQ ABA Community Bank	32	$7.4	$200,922
67	FONE	First Trust NASDAQ CEA Smartphone	13	$15.1	$69,498
68	CARZ	First Trust NASDAQ Global Auto Index	10	$4.2	$58,869
69	FYC	First Trust Small Cap Growth AlphaDEX	11	$5.1	$55,936
70	FYT	First Trust Small Cap Value AlphaDEX	11	$4.3	$97,896
71	FKO	First Trust South Korea AlphaDEX	11	$1.3	$42,029
72	FPX	First Trust US IPO Index Fund	72	$16.8	$115,150
73	FVI	First Trust Value Line Equity Allocation	64	$6.8	$54,007
74	FBM	Focus Morningstar Basic Materials Index ETF	11	$4.5	$57,316
75	FCQ	Focus Morningstar Communication Srvcs ETF	11	$5.1	$15,484
76	FCL	Focus Morningstar Consumer Cyclical ETF	11	$5.6	$22,552
77	FCD	Focus Morningstar Consumer Defensive ETF	11	$5.6	$25,740
78	FEG	Focus Morningstar Energy Index ETF	11	$4.9	$238,162
79	FFL	Focus Morningstar Financial Services ETF	11	$4.6	$46,023
80	FHC	Focus Morningstar Health Care Index ETF	11	$5.6	$33,146
81	FIL	Focus Morningstar Industrials Index ETF	11	$5.0	$38,032
82	FLG	Focus Morningstar Large Cap Index ETF	11	$5.3	$86,417
83	FMM	Focus Morningstar Mid Cap Index ETF	11	$5.1	$93,604
84	FRL	Focus Morningstar Real Estate Index ETF	11	$5.2	$24,870
85	FOS	Focus Morningstar Small Cap Index ETF	11	$5.0	$87,192
86	FTQ	Focus Morningstar Technology Index ETF	11	$5.5	$105,825
87	FUI	Focus Morningstar Utilities Index ETF	11	$6.9	$67,425
88	ALUM	Global X Aluminum ETF	14	$3.3	$24,051
89	VROM	Global X Auto ETF	10	$1.4	$89,003
90	BRAF	Global X Brazil Financials ETF	19	$6.7	$30,477
91	CHIE	Global X China Energy ETF	27	$5.9	$83,827
92	CHIX	Global X China Financials ETF	27	$16.2	$231,376
93	CHII	Global X China Industrial ETF	27	$5.3	$76,496
94	CHIM	Global X China Materials ETF	26	$3.1	$35,881
95	AND	Global X FTSE Andean 40 ETF	13	$7.3	$45,999
96	ARGT	Global X FTSE Argentina 20 ETF	12	$4.0	$33,550
97	QQQC	Global X NASDAQ China Technology ETF	27	$4.7	$23,168
98	GGGG	Global X Pure Gold Miners ETF	12	$5.5	$69,332
99	TSXV	Global X S&P/TSX Venture 30 Canada ETF	12	$2.9	$34,607
100	ABCS	Guggenheim ABC High Dividend ETF	9	$8.2	$85,295
101	GIY	Guggenheim Enhanced Core Bond ETF	49	$5.2	$46,959
102	EEN	Guggenheim EW Euro-Pacific LDRs ETF	61	$2.6	$10,536
103	XGC	Guggenheim International Small Cap LDRs	60	$5.7	$28,165
104	EWAC	Guggenheim MSCI ACWI Equal Weight ETF	14	$3.8	$22,736
105	EWEF	Guggenheim MSCI EAFE Equal Weight ETF	15	$11.5	$46,467
106	OTP	Guggenheim Ocean Tomo Patent ETF	63	$4.1	$539,255
107	EWMD	Guggenheim S&P MidCap 400 Equal Weight	7	$3.1	$55,724
108	EWSM	Guggenheim S&P SmallCap 600 Equal Weight	7	$6.2	$14,222
109	XRO	Guggenheim Sector Rotation ETF	66	$13.0	$39,091
110	WXSP	Guggenheim Wilshire 4500 Completion ETF	24	$6.3	$22,907
111	WFVK	Guggenheim Wilshire 5000 Total Market ETF	24	$6.1	$48,446
112	WMCR	Guggenheim Wilshire Micro-Cap ETF	66	$15.6	$52,441
113	PGD	iPath Asian & Gulf Currency Revaluation ETN	45	$4.0	$11,447
114	BWV	iPath CBOE S&P 500 BuyWrite Index ETN	58	$11.6	$78,881
115	JJU	iPath DJ-UBS Aluminum ETN	45	$5.8	$203,754
116	LD	iPath DJ-UBS Lead ETN	45	$2.1	$47,403
117	ERO	iPath EUR/USD Exchange Rate ETN	59	$4.9	$27,751
118	GBB	iPath GBP/USD Exchange Rate ETN	59	$2.5	$11,067
119	JEM	iPath GEMS Index ETN	50	$1.5	$7,258
120	GRN	iPath Global Carbon ETN	45	$1.4	$8,759
121	MFLA	iPath Long Enh 2x MSCI EAFE Index ETN	15	$2.8	$4,545
122	EMLB	iPath Long Enh 2x MSCI Emerging Mkts ETN	15	$3.5	$6,928
123	VZZB	iPath Long Enh 2x S&P 500 VIX M-T Fut ETN	8	$4.7	$422,884
124	ROLA	iPath Long Ext 3x Russell 1000 TR ETN	15	$4.9	$546
125	RTLA	iPath Long Ext 3x Russell 2000 TR ETN	15	$8.0	$589,839
126	SFLA	iPath Long Ext 3x S&P 500 TR Index ETN	15	$7.9	$59,632
127	DIRT	iPath Pure Beta Agriculture ETN	10	$2.4	$17,003
128	FOIL	iPath Pure Beta Aluminum ETN	10	$3.8	$128
129	CHOC	iPath Pure Beta Cocoa ETN	10	$2.3	$20,843
130	CAFE	iPath Pure Beta Coffee ETN	10	$1.7	$8,393
131	CUPM	iPath Pure Beta Copper ETN	10	$2.4	$16,544
132	CTNN	iPath Pure Beta Cotton ETN	10	$1.8	$6,321
133	OLEM	iPath Pure Beta Crude Oil ETN	10	$2.4	$25,158
134	ONG	iPath Pure Beta Energy ETN	10	$2.3	$298
135	WEET	iPath Pure Beta Grains ETN	10	$2.3	$31,443
136	HEVY	iPath Pure Beta Industrial Metals ETN	10	$2.5	$19,920
137	LEDD	iPath Pure Beta Lead ETN	10	$3.0	$44,258
138	LSTK	iPath Pure Beta Livestock ETN	10	$0.6	$35,866
139	NINI	iPath Pure Beta Nickel ETN	10	$1.5	$3,543
140	BLNG	iPath Pure Beta Precious Metals ETN	10	$4.7	$6,725
141	SBV	iPath Pure Beta S&P GSCI-Weighted ETN	10	$5.6	$1,596
142	GRWN	iPath Pure Beta Softs ETN	10	$3.3	$3,350
143	SGAR	iPath Pure Beta Sugar ETN	10	$2.7	$45,551
144	DCNG	iPath Seasonal Natural Gas ETN	10	$2.2	$4,533
145	MFSA	iPath Short Enh -2x MSCI EAFE Index ETN	15	$4.7	$3,325
146	ROSA	iPath Short Ext -3x Russell 1000 TR ETN	15	$2.5	$6,104
147	DTUS	iPath US Treasury 2-year Yield Bear ETN	19	$17.6	$74,027
148	DTUL	iPath US Treasury 2-year Yield Bull ETN	19	$4.1	$35,396
149	DFVS	iPath US Treasury 5-Year Yield Bear ETN	8	$1.3	$15,637
150	DFVL	iPath US Treasury 5-Year Yield Bull ETN	8	$1.7	$775
151	STPP	iPath US Treasury Steepener ETN	19	$13.3	$245,879
152	EMER	IQ Emerging Markets Mid Cap ETF	8	$1.8	$20,843
153	IOIL	IQ Global Oil Small Cap ETF	10	$1.8	$36,469
154	IFEU	iShares FTSE EPRA/NAREIT Europe	52	$12.2	$46,962
155	FNIO	iShares FTSE NAREIT Industrial/Office Cpd	59	$9.6	$53,971
156	IFNA	iShares FTSE NAREIT North America	52	$15.7	$211,456
157	RTL	iShares FTSE NAREIT Retail Capped	59	$14.1	$159,626
158	AXDI	iShares MSCI ACWI ex US Consumer Discr	20	$6.3	$24,151
159	AXSL	iShares MSCI ACWI ex US Consumer Staples	20	$3.2	$38,337
160	AXEN	iShares MSCI ACWI ex US Energy	20	$6.2	$24,008
161	AXFN	iShares MSCI ACWI ex US Financials	26	$2.2	$2,713
162	AXHE	iShares MSCI ACWI ex US Health Care	20	$9.0	$86,341
163	AXID	iShares MSCI ACWI ex US Industrials	20	$2.8	$6,755
164	AXIT	iShares MSCI ACWI ex US Info Technology	20	$2.8	$7,755
165	AXMT	iShares MSCI ACWI ex US Materials	20	$2.9	$17,320
166	AXTE	iShares MSCI ACWI ex US Telecom Services	20	$2.7	$8,755
167	AXUT	iShares MSCI ACWI ex US Utilities	20	$4.5	$69,917
168	EMFN	iShares MSCI Emerging Markets Financials	26	$3.7	$64,712
169	EMMT	iShares MSCI Emerging Markets Materials	26	$9.2	$53,861
170	FEFN	iShares MSCI Far East Financials Sector	26	$2.5	$325
171	NUCL	iShares S&P Global Nuclear Energy	45	$12.0	$40,844
172	TZD	iShares S&P Target Date 2010 Index Fund	40	$4.8	$29,295
173	TZE	iShares S&P Target Date 2015 Index Fund	40	$10.1	$86,954
174	TZG	iShares S&P Target Date 2020 Index Fund	40	$19.0	$74,188
175	TZL	iShares S&P Target Date 2030 Index Fund	40	$14.1	$55,710
176	TZO	iShares S&P Target Date 2035 Index Fund	40	$8.8	$32,722
177	TZV	iShares S&P Target Date 2040 Index Fund	40	$17.7	$53,035
178	TZW	iShares S&P Target Date 2045 Index Fund	7	$4.1	$5,258
179	TZY	iShares S&P Target Date 2050 Index Fund	7	$4.1	$58,046
180	TGR	iShares S&P Target Date Retirement Inc.	40	$7.8	$30,576
181	DSXJ	JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN	17	$8.3	$61,403
182	DSTJ	JPM Qtrly Dbl Short US Long Treas Fut ETN	17	$7.6	$2,141
183	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	46	$3.6	$3,423
184	XMPT	Market Vectors CEF Municipal Income ETF	8	$8.4	$113,579
185	COLX	Market Vectors Colombia ETF	12	$1.9	$8,651
186	URR	Market Vectors Double Long Euro ETN	46	$1.0	$14,023
187	GERJ	Market Vectors Germany Small-Cap ETF	11	$3.1	$22,659
188	INR	Market Vectors Indian Rupee/USD ETN	48	$4.8	$58,625
189	FLTR	Market Vectors Investment Grd Floating Rate	10	$7.1	$56,875
190	BONO	Market Vectors LatAm Aggregate Bond ETF	10	$7.6	$50,771
191	RSXJ	Market Vectors Russia Small-Cap ETF	11	$4.7	$67,211
192	MLPY	Morgan Stanley Cushing MLP High Income ETN	12	$19.8	$66,176
193	BARL	Morgan Stanley S&P 500 Crude Oil ETN	8	$12.0	$6,611
194	NASI	Pax MSCI North America ESG Index	22	$7.4	$67,184
195	TRSY	PIMCO Broad U.S. Treasury Index Fund	16	$19.1	$30,957
196	PLK	PowerShares Active Low Duration	47	$7.7	$50,238
197	PMA	PowerShares Active Mega-Cap Portfolio	47	$10.0	$124,475
198	CVRT	PowerShares Convertible Securities Portfolio	9	$9.5	$105,836
199	JGBT	PowerShares DB 3x Japanese G-Bond Fut ETN	11	$4.4	$5,849
200	UDNT	PowerShares DB 3x Short USD Idx Futures ETN	9	$3.7	$17,325
201	ADZ	PowerShares DB Agriculture Short ETN	47	$1.9	$68,601
202	BDG	PowerShares DB Base Metals Long ETN	45	$1.6	$8,690
203	DYY	PowerShares DB Commodity Dbl Long ETN	47	$14.9	$123,126
204	DEE	PowerShares DB Commodity Dbl Short ETN	47	$2.4	$35,943
205	DPU	PowerShares DB Commodity Long ETN	47	$6.2	$23,136
206	JGBL	PowerShares DB Japanese G-Bond Fut ETN	11	$5.1	$44,652
207	PJB	PowerShares Dynamic Banking	66	$12.9	$44,981
208	PEZ	PowerShares Dynamic Cons Discretionary	66	$21.4	$109,472
209	PIC	PowerShares Dynamic Insurance	77	$7.2	$20,998
210	PXN	PowerShares Dynamic Lux Nanotech	77	$22.8	$76,290
211	PIQ	PowerShares Dynamic Magniquant	66	$18.2	$28,330
212	PXLC	PowerShares Fundamental Pure Large Core	64	$24.9	$92,291
213	PXLG	PowerShares Fundamental Pure Large Gr	9	$3.3	$39,575
214	PXMC	PowerShares Fundamental Pure Mid Core	64	$21.1	$52,216
215	PXSC	PowerShares Fundamental Pure Small Core	64	$15.7	$43,199
216	PKN	PowerShares Global Nuclear Energy	48	$16.7	$51,613
217	PSTL	PowerShares Global Steel Portfolio	42	$4.4	$14,287
218	PWND	PowerShares Global Wind Energy	45	$15.0	$60,649
219	PTO	PowerShares Ibbotson Alternative Completion	46	$8.9	$40,747
220	KBWX	PowerShares KBW International Financial	15	$3.4	$1,695
221	KBWY	PowerShares KBW Premium Yield Equity REIT	15	$7.5	$87,399
222	KBWP	PowerShares KBW Property & Casualty Ins	15	$4.0	$17,669
223	PMNA	PowerShares MENA Frontier Countries	44	$19.6	$127,496
224	PYH	PowerShares Morningstar StockInvestor Core	64	$17.1	$45,372
225	PSCM	PowerShares S&P SmallCap Materials	23	$4.3	$60,676
226	IGS	ProShares Short Investment Grade Corporate	11	$3.5	$47,335
227	UCD	ProShares Ultra DJ-UBS Commodity	40	$9.9	$72,338
228	UJB	ProShares Ultra High Yield	11	$4.4	$77,186
229	IGU	ProShares Ultra Investment Grade Corporate	11	$2.5	$103,620
230	KRU	ProShares Ultra KBW Regional Banking	23	$4.4	$265,788
231	UPV	ProShares Ultra MSCI Europe	22	$2.9	$166,186
232	UMX	ProShares Ultra MSCI Mexico Investable Mkt	22	$1.8	$28,990
233	UXJ	ProShares Ultra MSCI Pacific Ex-Japan	22	$3.3	$71,233
234	UVG	ProShares Ultra Russell 1000 Value	61	$7.0	$42,434
235	UWC	ProShares Ultra Russell3000	32	$4.3	$50,970
236	LTL	ProShares Ultra Telecommunications	48	$3.6	$126,360
237	YCL	ProShares Ultra Yen	40	$4.9	$82,417
238	TBZ	ProShares UltraShort 3-7 Year Treasury	11	$4.2	$16,218
239	RXD	ProShares UltraShort Healthcare	62	$4.1	$90,928
240	SMK	ProShares UltraShort MSCI Mexico	33	$2.0	$26,835
241	JPX	ProShares UltraShort MSCI Pacific ex-Japan	33	$2.0	$42,915
242	BIS	ProShares UltraShort Nasdaq Biotechnology	23	$4.9	$140,114
243	SFK	ProShares UltraShort Russell 1000 Growth	61	$2.2	$126,602
244	SJF	ProShares UltraShort Russell 1000 Value	61	$1.8	$63,445
245	SDK	ProShares UltraShort Russell Midcap Growth	61	$2.1	$86,847
246	SJL	ProShares UltraShort Russell Midcap Value	61	$1.5	$95,605
247	TWQ	ProShares UltraShort Russell3000	32	$1.6	$30,315
248	TLL	ProShares UltraShort Telecom	48	$2.3	$146,090
249	TPS	ProShares UltraShort TIPS	13	$1.4	$20,099
250	SDP	ProShares UltraShort Utilities	62	$3.3	$225,467
251	RWW	RevenueShares Financials Sector Fund	40	$8.5	$35,207
252	RWV	RevenueShares Navellier Overall A-100	38	$7.8	$27,998
253	HMTM	Russell 1000 High Momentum ETF	9	$5.1	$38,486
254	HVOL	Russell 1000 High Volatility ETF	9	$4.9	$58,829
255	LBTA	Russell 1000 Low Beta ETF	9	$5.1	$19,432
256	SHBT	Russell 2000 High Beta ETF	9	$9.3	$5,478
257	SHVY	Russell 2000 High Volatility ETF	9	$4.3	$50,122
258	SLBT	Russell 2000 Low Beta ETF	9	$5.1	$13,068
259	SLVY	Russell 2000 Low Volatility ETF	9	$10.1	$82,110
260	AGRG	Russell Aggressive Growth ETF	10	$5.1	$20,812
261	CNTR	Russell Contrarian ETF	10	$4.7	$5,935
262	ONEF	Russell Equity ETF	22	$5.7	$52,894
263	LWPE	Russell Low P/E ETF	10	$4.9	$17,794
264	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	30	$12.0	$126,254
265	JPP	SPDR Russell/Nomura PRIME Japan	64	$15.3	$167,848
266	IPW	SPDR S&P International Energy	44	$12.5	$78,831
267	IPF	SPDR S&P International Financial	44	$5.3	$40,078
268	IPK	SPDR S&P International Technology	44	$14.0	$45,486
269	KME	SPDR S&P Mortgage Finance ETF	35	$3.6	$3,135
270	NAGS	Teucrium Natural Gas Fund	13	$1.8	$39,756
271	CRUD	Teucrium WTI Crude Oil Fund	12	$3.6	$78,663
272	MLPS	UBS ETRACS 1x Mthly Short Alerian MLP ETN	17	$6.8	$2,518
273	MLPG	UBS ETRACS Alerian Natural Gas MLP ETN	20	$15.7	$55,194
274	UBN	UBS ETRACS CMCI Energy TR ETN	48	$3.3	$10,080
275	UBM	UBS ETRACS CMCI Industrial Metals TR ETN	48	$5.8	$104,184
276	UBC	UBS ETRACS CMCI Livestock TR ETN	48	$5.0	$93,882
277	PTD	UBS ETRACS CMCI Short Platinum ER ETN	46	$3.1	$3,998
278	EIPL	UBS ETRACS M 2x Lvr Next Gen Internet ETN	7	$4.0	$2,840
279	GASZ	UBS ETRACS Natural Gas Fut. Contango ETN	9	$11.6	$126,565
280	EIPO	UBS ETRACS Next Generation Internet ETN	7	$7.0	$1,233
281	OILZ	UBS ETRACS Oil Futures Contango ETN	9	$10.2	$16,863
282	BDCS	UBS ETRACS Wells Fargo BDC ETN	10	$9.8	$57,577
283	MLPW	UBS ETRACS Wells Fargo MLP Index ETN	16	$20.3	$34,825
284	VTWV	Vanguard Russell 2000 Value ETF	18	$12.3	$80,553
285	IVOV	Vanguard S&P Mid-Cap 400 Value ETF	18	$12.6	$51,873
286	VIIZ	VelocityShares VIX Medium-Term ETN	15	$7.6	$23,307
287	EU	WisdomTree Euro Debt Fund	46	$4.7	$31,638
288	RRF	WisdomTree Global Real Return Fund	8	$4.7	$19,127
289	HEDJ	WisdomTree International Hedged Equity	26	$20.2	$104,796
290	ROI	WisdomTree LargeCap Growth	39	$20.2	$75,123
291	GULF	WisdomTree Middle East Dividend	44	$13.9	$82,495

Data sources:  Daily prices and volume of individual ETPs from Norgate Premium Data. All other information compiled by Invest With An Edge from sources believed to reliable.

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.

ETF Deathwatch for February 2012: Count Rises Again

ETF Deathwatch membership count increases by twenty for February 2012.  Twenty-three new names join the list while only three leave.  This marks the fifth month in a row of new record highs being established.  The count now stands at 288 (213 ETFs and 75 ETNs).  The average age of products on the list is greater than two years at 24.8 months, while assets average about $6.2 million each.

Eight of the new members were launched in July 2011, and having now reached six months of age, they no longer receive a free pass that excludes them from consideration.  The other fifteen have been around a while, including BLDRS Europe 100 ADR (ADRU) launched in 2002.  Reaching a 3-year or 5-year age milestone is no guarantee of continued success.

Trading activity picked up enough the past few months to allow three products to escape the list:  Direxion Daily Retail Bull 3x (RETL), iPath Pure Beta Broad Commodity ETN (BCM), and SPDR S&P International Utilities (IPU) prove that membership is not a one-way street.

Two products had zero volume for the month of January.  Morgan Stanley S&P 500 Crude Oil ETN (BARL) and iPath Long Extended 3x Russell 1000 TR ETN (ROLA) failed to attract any investor interest.  After going more than three months without any trades, iPath US Treasury 5-Year Bull ETN (DFVL) finally saw 215 shares change hands on January 18.

Becoming a member of ETF Deathwatch does not automatically imply bad performance or poor construction.  Often it’s the result of investors not being aware of the products.  I believe one such example is the Market Vectors CEF Municipal Income ETF (XMPT).  I happen to own this fund, and it has gained about 22% the past six months, while kicking out a tax exempt yield of more than 5%.  There are likely to be other gems hiding in this list.

The 23 ETPs added to ETF Deathwatch for February 2012:

1. BLDRS Europe 100 ADR (ADRU)
2. First Trust Small Cap Growth AlphaDEX (FYC)
3. IQ Emerging Markets Mid Cap ETF (EMER)
4. iPath Long Enhanced 2x S&P 500 VIX Mid-Term Futures ETN (VZZB)
5. iPath Pure Beta Livestock ETN (LSTK)
6. iPath Pure Beta Sugar ETN (SGAR)
7. iPath US Treasury 2-year Yield Bear ETN (DTUS)
8. iPath US Treasury 5-Year Yield Bear ETN (DFVS)
9. iPath US Treasury 5-Year Yield Bull ETN (DFVL)
10. iShares FTSE EPRA/NAREIT Europe (IFEU)
11. iShares S&P Target Date 2010 Index Fund (TZD)
12. iShares S&P Target Date 2015 Index Fund (TZE)
13. iShares S&P Target Date 2020 Index Fund (TZG)
14. Market Vectors CEF Municipal Income ETF (XMPT)
15. PowerShares Active Low Duration (PLK)
16. PowerShares DB Commodity Double Long ETN (DYY)
17. PowerShares Dynamic Lux Nanotech (PXN)
18. PowerShares Fundamental Pure Small Core (PXSC)  
19. RevenueShares Navellier Overall A-100 (RWV)
20. SPDR S&P International Financial (IPF)
21. UBS ETRACS Monthly 2x Leveraged Next Generation Internet ETN (EIPL)
22. UBS ETRACS Next Generation Internet ETN (EIPO)
23. WisdomTree Global Real Return Fund (RRF)

The 3 ETPs removed from ETF Deathwatch for February 2012:

1. Direxion Daily Retail Bull 3x (RETL)
2. iPath Pure Beta Broad Commodity ETN (BCM)  
3. SPDR S&P International Utilities (IPU)

The ETF Deathwatch criteria produced the following list of 288 ETPs for February:

ETF Deathwatch for February 2012

#	Ticker Sym	ETF Name	Age (mths)	AUM (millions)	3-mth Avg Daily $ Volume
1	AGLS	AdvisorShares Accuvest Global Long Short ETF	19.0	$8	$163,038
2	DENT	AdvisorShares Dent Tactical ETF	28.9	$8	$113,759
3	FWDD	AdvisorShares Madrona Domestic ETF	7.5	$15	$15,979
4	FWDB	AdvisorShares Madrona Global Bond ETF	7.5	$16	$22,681
5	FWDI	AdvisorShares Madrona International ETF	7.5	$13	$10,326
6	MATH	AdvisorShares Meidell Tactical Advantage ETF	7.4	$3	$48,211
7	AADR	AdvisorShares WCM/BNY Mellon Foc Gr ADR	18.6	$7	$84,084
8	BXDC	Barclays ETN+ S&P 500 2x Short C 2009 ETN	26.8	$5	$805,062
9	ADRU	BLDRS Europe 100 ADR	112.2	$15	$51,618
10	GCE	Claymore CEF Index GS Connect ETN	50.4	$3	$65,976
11	GVT	Columbia Concentrated Large Cap Value Strat	33.4	$3	$4,601
12	GMTB	Columbia Core Bond Strategy Fund	24.4	$5	$29,638
13	RPX	Columbia Growth Equity Strategy Fund	28.4	$1	$15,974
14	GMMB	Columbia Intermediate Municipal Bond Strategy	24.4	$5	$30,030
15	RWG	Columbia Large-Cap Growth Equity	28.4	$7	$40,602
16	CSMB	Credit Suisse Merger Arb Liquid 2x Mth ETN	11.0	$24	$57,674
17	FXRU	CurrencyShares Russian Ruble Shares	39.2	$5	$18,184
18	TDD	db-X 2010 Target Date Fund	52.8	$14	$21,691
19	TDX	db-X In-Target Date Fund	52.8	$16	$30,602
20	DBBR	db-X MSCI Brazil Currency-Hedged Equity	7.9	$5	$16,550
21	DBCN	db-X MSCI Canada Currency-Hedged Equity	7.9	$5	$1,223
22	DBEM	db-X MSCI Emerging Mkts Currency-Hdg Eqty	7.9	$5	$22,436
23	DBJP	db-X MSCI Japan Currency-Hedged Equity	7.9	$5	$15,937
24	TYBS	Direxion Daily 20+ Year Treasury Bear 1x	10.5	$3	$6,593
25	TYNS	Direxion Daily 7-10 Year Treasury Bear 1x	10.5	$3	$3,234
26	COWS	Direxion Daily Agribusiness Bear 3x	8.4	$1	$166,073
27	MATS	Direxion Daily Basic Materials Bear 3x	7.7	$2	$349,450
28	BRIS	Direxion Daily BRIC Bear 3x	23.0	$2	$82,909
29	BRIL	Direxion Daily BRIC Bull 3x	23.0	$5	$179,226
30	SICK	Direxion Daily Healthcare Bear 3x	7.7	$3	$29,388
31	CURE	Direxion Daily Healthcare Bull 3x	7.7	$4	$123,940
32	INDZ	Direxion Daily India Bear 3x	23.0	$3	$232,972
33	GASX	Direxion Daily Natural Gas Related Bear 3x	18.9	$3	$240,954
34	RETS	Direxion Daily Retail Bear 3x	18.9	$1	$104,391
35	TOTS	Direxion Daily Total Market Bear 1x	7.7	$4	$31,078
36	LGEM	EGShares Basic Materials GEMS ETF	7.4	$1	$2,957
37	GGEM	EGShares Consumer Goods GEMS ETF	7.4	$1	$8,771
38	VGEM	EGShares Consumer Services GEMS ETF	7.4	$1	$6,524
39	FGEM	EGShares Financials GEMS ETF	28.9	$3	$13,656
40	HGEM	EGShares Health Care GEMS ETF	7.4	$2	$9,230
41	IGEM	EGShares Industrials GEMS ETF	7.4	$1	$3,725
42	QGEM	EGShares Technology GEMS ETF	7.4	$2	$5,099
43	TGEM	EGShares Telecom GEMS ETF	7.4	$1	$5,305
44	UGEM	EGShares Utilities GEMS ETF	7.4	$3	$16,967
45	GWO	ELEMENTS CS Global Warming ETN	46.6	$3	$5,649
46	DOD	ELEMENTS Dogs of the Dow Total Return ETN	51.5	$15	$226,398
47	FUE	ELEMENTS MLCX Biofuels ETN	48.5	$2	$10,491
48	WMW	ELEMENTS Morningstar Wide Moat Focus ETN	52.2	$8	$52,562
49	EEH	ELEMENTS Spctrm LgCap US Sector Mo ETN	54.8	$1	$2,939
50	EAPS	ESG Shares Pax MSCI EAFE ESG Index ETF	12.3	$4	$65,317
51	FOL	FactorShares 2X: Oil Bull/S&P500 Bear	11.4	$2	$61,376
52	FSE	FactorShares 2X: S&P500 Bull/TBond Bear	11.4	$1	$19,654
53	FSU	FactorShares 2X: S&P500 Bull/USD Bear	11.4	$2	$5,464
54	FSA	FactorShares 2X: TBond Bull/S&P500 Bear	11.4	$3	$22,032
55	FPA	First Trust Asia Pacific Ex-Japan AlphaDEX	9.6	$5	$37,006
56	FBZ	First Trust Brazil AlphaDEX Fund	9.6	$8	$76,122
57	FCA	First Trust China AlphaDEX Fund	9.6	$3	$28,498
58	FDD	First Trust DJ STOXX European Select Div	53.8	$8	$159,523
59	FEP	First Trust Europe AlphaDEX Fund	9.6	$6	$141,356
60	FJP	First Trust Japan AlphaDEX	9.6	$4	$41,748
61	FLN	First Trust Latin America AlphaDEX	9.6	$3	$49,967
62	FMK	First Trust Mega Cap AlphaDEX Fund	8.8	$5	$102,069
63	FNK	First Trust Mid Cap Value AlphaDEX	9.5	$8	$169,830
64	QABA	First Trust NASDAQ ABA Community Bank	31.5	$13	$65,784
65	FONE	First Trust NASDAQ CEA Smartphone	11.6	$14	$42,601
66	CARZ	First Trust NASDAQ Global Auto Index	8.9	$4	$18,931
67	FYC	First Trust Small Cap Growth AlphaDEX	9.5	$5	$46,821
68	FYT	First Trust Small Cap Value AlphaDEX	9.5	$2	$129,590
69	FKO	First Trust South Korea AlphaDEX	9.6	$1	$14,492
70	FPX	First Trust US IPO Index Fund	70.6	$15	$85,270
71	FVI	First Trust Value Line Equity Allocation	62.8	$7	$107,275
72	FBM	Focus Morningstar Basic Materials Index ETF	10.2	$4	$56,524
73	FCQ	Focus Morningstar Communication Srvcs ETF	10.2	$5	$8,592
74	FCL	Focus Morningstar Consumer Cyclical ETF	10.2	$5	$14,935
75	FCD	Focus Morningstar Consumer Defensive ETF	10.2	$5	$25,377
76	FEG	Focus Morningstar Energy Index ETF	10.2	$5	$214,403
77	FFL	Focus Morningstar Financial Services ETF	10.2	$4	$39,329
78	FHC	Focus Morningstar Health Care Index ETF	10.2	$5	$37,577
79	FIL	Focus Morningstar Industrials Index ETF	10.2	$5	$54,895
80	FLG	Focus Morningstar Large Cap Index ETF	10.2	$5	$85,319
81	FMM	Focus Morningstar Mid Cap Index ETF	10.2	$5	$75,088
82	FRL	Focus Morningstar Real Estate Index ETF	10.2	$5	$14,857
83	FOS	Focus Morningstar Small Cap Index ETF	10.2	$5	$75,376
84	FTQ	Focus Morningstar Technology Index ETF	10.2	$5	$68,197
85	FUI	Focus Morningstar Utilities Index ETF	10.2	$7	$62,420
86	ALUM	Global X Aluminum ETF	13.0	$3	$35,400
87	VROM	Global X Auto ETF	8.6	$1	$69,213
88	BRAF	Global X Brazil Financials ETF	18.4	$6	$75,248
89	CHIE	Global X China Energy ETF	25.9	$6	$92,235
90	CHIX	Global X China Financials ETF	26.0	$16	$217,800
91	CHII	Global X China Industrial ETF	26.4	$5	$40,700
92	CHIM	Global X China Materials ETF	24.9	$3	$46,455
93	BARN	Global X Farming ETF	8.1	$3	$37,045
94	FISN	Global X Fishing Industry ETF	9.1	$2	$8,682
95	EATX	Global X Food ETF	9.1	$3	$33,642
96	AND	Global X FTSE Andean 40 ETF	12.1	$7	$32,700
97	ARGT	Global X FTSE Argentina 20 ETF	11.1	$4	$26,595
98	MEXS	Global X Mexico Small-Cap ETF	9.0	$1	$5,471
99	QQQC	Global X NASDAQ China Technology ETF	26.1	$4	$51,306
100	XOIL	Global X Oil Equities ETF	10.7	$3	$50,324
101	GGGG	Global X Pure Gold Miners ETF	10.7	$6	$86,305
102	EMGX	Global X Russell Emerging Markets Growth ETF	12.4	$2	$12,081
103	EMVX	Global X Russell Emerging Markets Value ETF	12.4	$2	$18,157
104	TSXV	Global X S&P/TSX Venture 30 Canada ETF	10.7	$3	$27,869
105	WSTE	Global X Waste Management ETF	9.8	$1	$10,543
106	ABCS	Guggenheim ABC High Dividend ETF	7.9	$7	$73,015
107	GIY	Guggenheim Enhanced Core Bond ETF	48.3	$5	$41,516
108	GSY	Guggenheim Enhanced Short Duration Bond	48.3	$15	$460,519
109	EEN	Guggenheim EW Euro-Pacific LDRs ETF	59.9	$3	$13,104
110	XGC	Guggenheim International Small Cap LDRs	58.8	$6	$25,928
111	OTP	Guggenheim Ocean Tomo Patent ETF	62.4	$23	$246,153
112	XRO	Guggenheim Sector Rotation ETF	65.3	$12	$39,699
113	WXSP	Guggenheim Wilshire 4500 Completion ETF	23.1	$6	$7,649
114	WFVK	Guggenheim Wilshire 5000 Total Market ETF	23.1	$6	$38,152
115	PGD	iPath Asian & Gulf Currency Revaluation ETN	44.1	$4	$50,492
116	JJU	iPath DJ-UBS Aluminum ETN	43.9	$5	$32,944
117	LD	iPath DJ-UBS Lead ETN	43.9	$5	$42,103
118	ERO	iPath EUR/USD Exchange Rate ETN	57.6	$5	$32,537
119	GBB	iPath GBP/USD Exchange Rate ETN	57.6	$3	$11,287
120	JEM	iPath GEMS Index ETN	48.7	$1	$9,350
121	GRN	iPath Global Carbon ETN	43.9	$1	$9,361
122	MFLA	iPath Long Enh 2x MSCI EAFE Index ETN	14.2	$3	$4,545
123	EMLB	iPath Long Enh 2x MSCI Emerging Mkts ETN	14.2	$3	$10,695
124	VZZB	iPath Long Enh 2x S&P 500 VIX M-T Fut ETN	6.8	$3	$752,691
125	ROLA	iPath Long Ext 3x Russell 1000 TR ETN	14.2	$5	$546
126	RTLA	iPath Long Ext 3x Russell 2000 TR ETN	14.2	$6	$489,748
127	SFLA	iPath Long Ext 3x S&P 500 TR Index ETN	14.2	$6	$124,280
128	DIRT	iPath Pure Beta Agriculture ETN	9.5	$2	$14,391
129	FOIL	iPath Pure Beta Aluminum ETN	9.5	$4	$1,032
130	CHOC	iPath Pure Beta Cocoa ETN	9.5	$2	$34,924
131	CAFE	iPath Pure Beta Coffee ETN	9.5	$2	$25,232
132	CUPM	iPath Pure Beta Copper ETN	9.5	$2	$22,602
133	CTNN	iPath Pure Beta Cotton ETN	9.5	$2	$11,558
134	OLEM	iPath Pure Beta Crude Oil ETN	9.5	$2	$26,838
135	ONG	iPath Pure Beta Energy ETN	9.5	$2	$6,939
136	WEET	iPath Pure Beta Grains ETN	9.5	$2	$58,157
137	HEVY	iPath Pure Beta Industrial Metals ETN	9.5	$2	$21,493
138	LEDD	iPath Pure Beta Lead ETN	9.5	$3	$44,591
139	LSTK	iPath Pure Beta Livestock ETN	9.5	$3	$32,661
140	NINI	iPath Pure Beta Nickel ETN	9.5	$1	$2,685
141	BLNG	iPath Pure Beta Precious Metals ETN	9.5	$5	$9,051
142	SBV	iPath Pure Beta S&P GSCI-Weighted ETN	9.5	$5	$9,782
143	GRWN	iPath Pure Beta Softs ETN	9.5	$3	$6,408
144	SGAR	iPath Pure Beta Sugar ETN	9.5	$3	$62,964
145	DCNG	iPath Seasonal Natural Gas ETN	9.5	$2	$5,832
146	MFSA	iPath Short Enh -2x MSCI EAFE Index ETN	14.2	$6	$2,317
147	ROSA	iPath Short Ext -3x Russell 1000 TR ETN	14.2	$3	$7,545
148	DTUS	iPath US Treasury 2-year Yield Bear ETN	18.0	$17	$71,111
149	DTUL	iPath US Treasury 2-year Yield Bull ETN	18.0	$9	$60,156
150	DFVS	iPath US Treasury 5-Year Yield Bear ETN	6.8	$1	$13,487
151	DFVL	iPath US Treasury 5-Year Yield Bull ETN	6.8	$2	$775
152	STPP	iPath US Treasury Steepener ETN	18.0	$4	$33,942
153	EMER	IQ Emerging Markets Mid Cap ETF	6.7	$2	$20,489
154	IOIL	IQ Global Oil Small Cap ETF	9.0	$2	$26,155
155	ROOF	IQ US Real Estate Small Cap ETF	7.7	$20	$71,352
156	IFEU	iShares FTSE EPRA/NAREIT Europe	51.1	$12	$52,242
157	FNIO	iShares FTSE NAREIT Industrial/Office Cpd	57.7	$9	$41,998
158	IFNA	iShares FTSE NAREIT North America	51.1	$14	$79,569
159	RTL	iShares FTSE NAREIT Retail Capped	57.7	$9	$94,136
160	AXDI	iShares MSCI ACWI ex US Consumer Discr	18.8	$6	$22,207
161	AXSL	iShares MSCI ACWI ex US Consumer Staples	18.8	$3	$60,430
162	AXEN	iShares MSCI ACWI ex US Energy	18.8	$6	$23,883
163	AXFN	iShares MSCI ACWI ex US Financials	24.6	$2	$8,445
164	AXHE	iShares MSCI ACWI ex US Health Care	18.8	$9	$123,288
165	AXID	iShares MSCI ACWI ex US Industrials	18.8	$3	$2,266
166	AXIT	iShares MSCI ACWI ex US Info Technology	18.8	$3	$10,299
167	AXMT	iShares MSCI ACWI ex US Materials	18.8	$3	$10,808
168	AXTE	iShares MSCI ACWI ex US Telecom Services	18.8	$3	$5,904
169	AXUT	iShares MSCI ACWI ex US Utilities	18.8	$2	$22,388
170	EMFN	iShares MSCI Emerging Markets Financials	24.6	$4	$24,382
171	EMMT	iShares MSCI Emerging Markets Materials	24.6	$9	$33,831
172	FEFN	iShares MSCI Far East Financials Sector	24.6	$2	$712
173	NUCL	iShares S&P Global Nuclear Energy	43.8	$11	$36,427
174	TZD	iShares S&P Target Date 2010 Index Fund	39.4	$5	$23,817
175	TZE	iShares S&P Target Date 2015 Index Fund	39.4	$10	$57,230
176	TZG	iShares S&P Target Date 2020 Index Fund	39.4	$18	$60,318
177	TZL	iShares S&P Target Date 2030 Index Fund	39.4	$14	$45,368
178	TZO	iShares S&P Target Date 2035 Index Fund	39.4	$8	$44,171
179	TZV	iShares S&P Target Date 2040 Index Fund	39.4	$17	$64,780
180	TGR	iShares S&P Target Date Retirement Inc.	39.4	$8	$28,060
181	DSXJ	JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN	16.1	$8	$62,521
182	DSTJ	JPM Qtrly Dbl Short US Long Treas Fut ETN	16.1	$7	$3,482
183	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	45.0	$3	$4,036
184	XMPT	Market Vectors CEF Municipal Income ETF	6.7	$7	$83,620
185	COLX	Market Vectors Colombia ETF	10.7	$2	$7,105
186	URR	Market Vectors Double Long Euro ETN	45.5	$1	$17,835
187	GERJ	Market Vectors Germany Small-Cap ETF	10.0	$3	$22,498
188	INR	Market Vectors Indian Rupee/USD ETN	47.1	$5	$55,292
189	FLTR	Market Vectors Investment Grd Floating Rate	9.3	$7	$42,485
190	BONO	Market Vectors LatAm Aggregate Bond ETF	8.8	$7	$57,442
191	RSXJ	Market Vectors Russia Small-Cap ETF	9.7	$4	$55,367
192	MLPY	Morgan Stanley Cushing MLP High Income ETN	10.7	$20	$67,899
193	BARL	Morgan Stanley S&P 500 Crude Oil ETN	7.2	$11	$725
194	NASI	Pax MSCI North America ESG Index	20.7	$7	$54,907
195	TRSY	PIMCO Broad U.S. Treasury Index Fund	15.2	$19	$31,693
196	PLK	PowerShares Active Low Duration	46.2	$8	$33,172
197	PMA	PowerShares Active Mega-Cap Portfolio	46.2	$10	$147,571
198	CVRT	PowerShares Convertible Securities Portfolio	8.3	$9	$87,947
199	JGBT	PowerShares DB 3x Japanese G-Bond Fut ETN	10.5	$4	$6,478
200	UDNT	PowerShares DB 3x Short USD Idx Futures ETN	8.4	$4	$23,535
201	ADZ	PowerShares DB Agriculture Short ETN	46.2	$2	$83,119
202	BDG	PowerShares DB Base Metals Long ETN	44.1	$2	$8,687
203	DYY	PowerShares DB Commodity Dbl Long ETN	45.8	$12	$54,094
204	DEE	PowerShares DB Commodity Dbl Short ETN	45.8	$3	$32,374
205	DPU	PowerShares DB Commodity Long ETN	45.8	$6	$15,771
206	JGBL	PowerShares DB Japanese G-Bond Fut ETN	10.5	$5	$20,725
207	PJB	PowerShares Dynamic Banking	64.6	$12	$34,672
208	PEZ	PowerShares Dynamic Cons Discretionary	64.6	$20	$156,959
209	PIC	PowerShares Dynamic Insurance	76.3	$7	$22,032
210	PXN	PowerShares Dynamic Lux Nanotech	76.3	$23	$58,089
211	PIQ	PowerShares Dynamic Magniquant	64.6	$17	$26,754
212	PXLC	PowerShares Fundamental Pure Large Core	62.9	$24	$65,460
213	PXLG	PowerShares Fundamental Pure Large Gr	7.6	$3	$34,880
214	PXMC	PowerShares Fundamental Pure Mid Core	62.9	$20	$50,181
215	PXSC	PowerShares Fundamental Pure Small Core	62.9	$15	$53,378
216	PKN	PowerShares Global Nuclear Energy	46.6	$16	$57,287
217	PSTL	PowerShares Global Steel Portfolio	40.9	$4	$16,401
218	PWND	PowerShares Global Wind Energy	43.6	$15	$58,517
219	PTO	PowerShares Ibbotson Alternative Completion	45.0	$8	$30,280
220	KBWX	PowerShares KBW International Financial	14.2	$3	$1,514
221	KBWY	PowerShares KBW Premium Yield Equity REIT	14.2	$8	$42,785
222	KBWP	PowerShares KBW Property & Casualty Ins	14.2	$4	$5,461
223	PMNA	PowerShares MENA Frontier Countries	43.4	$19	$124,308
224	PYH	PowerShares Morningstar StockInvestor Core	62.9	$17	$23,603
225	PSCM	PowerShares S&P SmallCap Materials	22.1	$4	$45,481
226	IGS	ProShares Short Investment Grade Corporate	10.3	$4	$54,177
227	UJB	ProShares Ultra High Yield	9.7	$2	$15,967
228	IGU	ProShares Ultra Investment Grade Corporate	9.7	$2	$117,957
229	KRU	ProShares Ultra KBW Regional Banking	21.6	$6	$330,771
230	UPV	ProShares Ultra MSCI Europe	21.4	$3	$209,382
231	UMX	ProShares Ultra MSCI Mexico Investable Mkt	21.4	$2	$16,878
232	UXJ	ProShares Ultra MSCI Pacific Ex-Japan	21.4	$3	$76,138
233	UVG	ProShares Ultra Russell 1000 Value	60.1	$7	$41,337
234	UWC	ProShares Ultra Russell3000	31.4	$8	$68,837
235	LTL	ProShares Ultra Telecommunications	46.8	$3	$162,834
236	TBZ	ProShares UltraShort 3-7 Year Treasury	10.0	$4	$12,556
237	RXD	ProShares UltraShort Healthcare	60.9	$3	$107,989
238	SMK	ProShares UltraShort MSCI Mexico	31.9	$2	$56,873
239	JPX	ProShares UltraShort MSCI Pacific ex-Japan	31.9	$2	$50,306
240	BIS	ProShares UltraShort Nasdaq Biotechnology	22.1	$4	$120,331
241	SFK	ProShares UltraShort Russell 1000 Growth	60.1	$5	$86,256
242	SJF	ProShares UltraShort Russell 1000 Value	60.1	$2	$101,923
243	SDK	ProShares UltraShort Russell Midcap Growth	60.1	$2	$126,640
244	SJL	ProShares UltraShort Russell Midcap Value	60.1	$2	$125,274
245	TWQ	ProShares UltraShort Russell3000	31.4	$2	$45,663
246	TLL	ProShares UltraShort Telecom	46.8	$3	$257,770
247	TPS	ProShares UltraShort TIPS	11.8	$1	$5,632
248	SDP	ProShares UltraShort Utilities	60.9	$3	$368,408
249	RWW	RevenueShares Financials Sector Fund	39.2	$8	$34,662
250	RWV	RevenueShares Navellier Overall A-100	36.8	$9	$41,039
251	HMTM	Russell 1000 High Momentum ETF	8.3	$5	$72,778
252	HVOL	Russell 1000 High Volatility ETF	8.3	$9	$67,458
253	LBTA	Russell 1000 Low Beta ETF	8.3	$5	$21,557
254	SHBT	Russell 2000 High Beta ETF	8.3	$4	$6,666
255	SLBT	Russell 2000 Low Beta ETF	8.3	$5	$1,520
256	SLVY	Russell 2000 Low Volatility ETF	8.3	$5	$60,731
257	AGRG	Russell Aggressive Growth ETF	8.6	$5	$8,065
258	CNTR	Russell Contrarian ETF	8.6	$4	$2,922
259	ONEF	Russell Equity ETF	21.0	$5	$65,977
260	LWPE	Russell Low P/E ETF	8.6	$5	$10,057
261	EWAC	Rydex MSCI All Country World Equal Weight	12.8	$4	$19,085
262	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	28.6	$12	$97,783
263	JPP	SPDR Russell/Nomura PRIME Japan	63.5	$15	$154,989
264	IPW	SPDR S&P International Energy	42.8	$10	$57,965
265	IPF	SPDR S&P International Financial	42.9	$5	$55,851
266	KME	SPDR S&P Mortgage Finance ETF	33.5	$3	$3,420
267	NAGS	Teucrium Natural Gas Fund	12.1	$1	$25,859
268	MLPS	UBS ETRACS 1x Mthly Short Alerian MLP ETN	16.3	$10	$8,832
269	MLPG	UBS ETRACS Alerian Natural Gas MLP ETN	18.9	$15	$66,788
270	UBN	UBS ETRACS CMCI Energy TR ETN	46.6	$3	$11,250
271	UBG	UBS ETRACS CMCI Gold TR ETN	46.6	$9	$310,812
272	UBM	UBS ETRACS CMCI Industrial Metals TR ETN	46.6	$6	$94,792
273	UBC	UBS ETRACS CMCI Livestock TR ETN	46.6	$5	$71,653
274	PTD	UBS ETRACS CMCI Short Platinum ER ETN	45.4	$3	$2,873
275	EIPL	UBS ETRACS M 2x Lvr Next Gen Internet ETN	6.5	$4	$2,166
276	GASZ	UBS ETRACS Natural Gas Fut. Contango ETN	7.6	$11	$65,428
277	EIPO	UBS ETRACS Next Generation Internet ETN	6.5	$7	$5,511
278	OILZ	UBS ETRACS Oil Futures Contango ETN	7.6	$10	$2,755
279	BDCS	UBS ETRACS Wells Fargo BDC ETN	9.3	$10	$59,763
280	MLPW	UBS ETRACS Wells Fargo MLP Index ETN	15.2	$19	$37,859
281	VTWV	Vanguard Russell 2000 Value ETF	16.5	$12	$64,176
282	IVOV	Vanguard S&P Mid-Cap 400 Value ETF	17.0	$12	$167,401
283	VIIZ	VelocityShares VIX Medium-Term ETN	14.2	$8	$23,666
284	EU	WisdomTree Euro Debt Fund	45.2	$5	$25,698
285	RRF	WisdomTree Global Real Return Fund	6.7	$5	$36,711
286	HEDJ	WisdomTree International Hedged Equity	25.4	$19	$74,471
287	ROI	WisdomTree LargeCap Growth	38.4	$19	$60,171
288	GULF	WisdomTree Middle East Dividend	43.1	$15	$83,373

Data sources:  Daily prices and volume of individual ETPs from Norgate Premium Data. All other information compiled by Invest With An Edge.

Past issues of ETF Deathwatch are available here.

Disclosure covering writer, editor, and publisher: Long XMPT. 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.

ETF Deathwatch for January 2012: Another Month, Another Record

Thirty-six new names joined January’s ETF Deathwatch while only ten left, leaving a net increase of 26.  Total Deathwatch membership now stands at a new all-time high of 268.

The 36 additions consisted of 27 ETFs and nine ETNs.  Three-quarters of them just came out of the six-month new product grace period.  Given the record number of new launches in 2011, the Deathwatch list seems likely to grow further in the coming months.

Only two of the ten funds coming off the list managed to do so gracefully.  iShares MSCI Ireland Capped Investable Market (EIRL) and Russell 2000 High Momentum ETF (SHMO) had increases in trading activity.  The other eight removals were all funds that closed in December.

The 268 current members consist of 201 ETFs and 67 ETNs.  The ETF count includes 17 of the 39 (44%) currently listed actively-managed funds.  The average age of products on the list is just under two years at 23.3 months, while assets average just $5.7 million each.

Typically, only a few products go an entire month with no trading activity.  For December, the number surged to seven and six of them came from the iPath brand.  For the third month in a row, iPath US Treasury 5-Year Bull ETN (DFVL) had no trading activity at all.  It would have been four calendar months but for a small trade on September 1, 2011.  DFVL’s inability to attract any volume is even more alarming given the fact that it represents one of the year’s best performing asset classes.  It is truly a zombie ETF.

iPath Long Enhanced MSCI EAFE Index ETN (MFLA) is not far behind, having last traded on October 4, 2011.  The other five products with zero activity for the month December were iPath Pure Beta Aluminum ETN (FOIL), iPath Pure Beta Energy ETN (ONG), iPath Pure Beta S&P GSCI-Weighted ETN (SBV), iPath Short Enhanced (-2x) MSCI EAFE Index ETN (MFSA), and Russell Small Cap Contrarian ETF (SCTR).

The 36 ETPs Added to ETF Deathwatch for January 2012:

1. AdvisorShares Madrona Domestic ETF (FWDD)
2. AdvisorShares Madrona Global Bond ETF (FWDB)
3. AdvisorShares Madrona International ETF (FWDI)
4. AdvisorShares Meidell Tactical Advantage ETF (MATH)
5. Credit Suisse Merger Arb Liquid 2x Monthly ETN (CSMB)
6. db-X MSCI Brazil Currency-Hedged Equity (DBBR)
7. db-X MSCI Canada Currency-Hedged Equity (DBCN)
8. db-X MSCI Emerging Markets Currency-Hedged Equity (DBEM)
9. db-X MSCI Japan Currency-Hedged Equity (DBJP)
10. Direxion Daily Agribusiness Bear 3x (COWS)
11. Direxion Daily Basic Materials Bear 3x (MATS)
12. Direxion Daily Healthcare Bear 3x (SICK)
13. Direxion Daily Healthcare Bull 3x (CURE)
14. Direxion Daily Total Market Bear 1x (TOTS)
15. EGShares Basic Materials GEMS ETF (LGEM)
16. EGShares Consumer Goods GEMS ETF (GGEM)
17. EGShares Consumer Services GEMS ETF (VGEM)
18. EGShares Health Care GEMS ETF (HGEM)
19. EGShares Industrials GEMS ETF (IGEM)
20. EGShares Technology GEMS ETF (QGEM)
21. EGShares Telecom GEMS ETF (TGEM)
22. EGShares Utilities GEMS ETF (UGEM)
23. ELEMENTS MLCX Biofuels ETN (FUE)
24. Global X Farming ETF (BARN)
25. Guggenheim ABC High Dividend ETF (ABCS)
26. iPath DJ-UBS Lead ETN (LD)
27. iPath EUR/USD Exchange Rate ETN (ERO)
28. iPath US Treasury 2-year Yield Bull ETN (DTUL)
29. IQ US Real Estate Small Cap ETF (ROOF)
30. Morgan Stanley Cushing MLP High Income ETN (MLPY)
31. Morgan Stanley S&P 500 Crude Oil ETN (BARL)
32. PowerShares Fundamental Pure Large Growth (PXLG)
33. PowerShares Global Nuclear Energy (PKN)
34. SPDR S&P International Energy (IPW)
35. UBS ETRACS Natural Gas Futures Contango ETN (GASZ)
36. UBS ETRACS Oil Futures Contango ETN (OILZ)

The 10 ETPs removed from ETF Deathwatch for January 2012:

1. HOLDRS Europe 2001 (EKH) closed
2. HOLDRS Internet Infrastructure (IIH) closed
3. HOLDRS Merrill Lynch Market 2000+ (MKH) closed
4. HOLDRS Wireless (WMH) closed
5. IQ Hong Kong Small Cap ETF (HKK) closed
6. IQ Taiwan Small Cap (TWON) closed
7. iShares MSCI Ireland Capped Investable Market (EIRL)
8. Jefferies|TR/J CRB Global Agriculture Equity (CRBA) closed
9. Jefferies|TR/J CRB Global Industrial Metals Equity (CRBI) closed
10. Russell 2000 High Momentum ETF (SHMO)

The ETF Deathwatch criteria produced the following list of 268 ETPs for January:

ETF Deathwatch for January 2012

#	Ticker Sym	ETF Name	Age (mths)	AUM (millions)	3-mth Avg Daily $ Volume
1	AGLS	AdvisorShares Accuvest Global Long Short ETF	18.0	$3	$62,431
2	DENT	AdvisorShares Dent Tactical ETF	27.9	$13	$85,646
3	FWDD	AdvisorShares Madrona Domestic ETF	6.4	$14	$20,713
4	FWDB	AdvisorShares Madrona Global Bond ETF	6.4	$15	$33,347
5	FWDI	AdvisorShares Madrona International ETF	6.4	$11	$16,707
6	MATH	AdvisorShares Meidell Tactical Advantage ETF	6.4	$2	$35,362
7	AADR	AdvisorShares WCM/BNY Mellon Foc Gr ADR	17.6	$6	$107,749
8	PGD	Barclays Asian&Gulf Currency Reval. ETN	43.0	$4	$49,794
9	BXDC	Barclays ETN+ S&P 500 2x Short C 2009 ETN	25.8	$6	$896,805
10	JEM	Barclays GEMS Currency Index ETN	47.6	$1	$10,703
11	GCE	Claymore CEF Index GS Connect ETN	49.4	$3	$36,755
12	GVT	Columbia Concentrated Large Cap Value Strat	32.4	$3	$3,104
13	GMTB	Columbia Core Bond Strategy Fund	23.4	$5	$80,394
14	RPX	Columbia Growth Equity Strategy Fund	27.3	$1	$15,242
15	GMMB	Columbia Intermediate Municipal Bond Strategy	23.4	$5	$15,080
16	RWG	Columbia Large-Cap Growth Equity	27.3	$8	$43,190
17	CSMB	Credit Suisse Merger Arb Liquid 2x Mth ETN	9.9	$24	$47,262
18	FXRU	CurrencyShares Russian Ruble Shares	38.2	$5	$31,169
19	TDD	db-X 2010 Target Date Fund	51.7	$14	$19,681
20	TDX	db-X In-Target Date Fund	51.7	$15	$20,975
21	DBBR	db-X MSCI Brazil Currency-Hedged Equity	6.8	$4	$15,982
22	DBCN	db-X MSCI Canada Currency-Hedged Equity	6.8	$4	$1,164
23	DBEM	db-X MSCI Emerging Mkts Currency-Hdg Eqty	6.8	$4	$62,793
24	DBJP	db-X MSCI Japan Currency-Hedged Equity	6.8	$4	$6,735
25	TYBS	Direxion Daily 20+ Year Treasury Bear 1x	9.4	$3	$12,876
26	TYNS	Direxion Daily 7-10 Year Treasury Bear 1x	9.4	$3	$10,042
27	COWS	Direxion Daily Agribusiness Bear 3x	7.3	$3	$316,635
28	MATS	Direxion Daily Basic Materials Bear 3x	6.6	$3	$589,428
29	BRIS	Direxion Daily BRIC Bear 3x	22.0	$3	$95,876
30	BRIL	Direxion Daily BRIC Bull 3x	22.0	$4	$135,243
31	SICK	Direxion Daily Healthcare Bear 3x	6.6	$3	$23,086
32	CURE	Direxion Daily Healthcare Bull 3x	6.6	$3	$132,716
33	INDZ	Direxion Daily India Bear 3x	22.0	$4	$172,016
34	GASX	Direxion Daily Natural Gas Related Bear 3x	17.8	$3	$219,052
35	RETS	Direxion Daily Retail Bear 3x	17.8	$2	$89,213
36	RETL	Direxion Daily Retail Bull 3x	17.8	$6	$413,874
37	TOTS	Direxion Daily Total Market Bear 1x	6.6	$4	$39,491
38	LGEM	EGShares Basic Materials GEMS ETF	6.4	$1	$2,926
39	GGEM	EGShares Consumer Goods GEMS ETF	6.4	$1	$7,517
40	VGEM	EGShares Consumer Services GEMS ETF	6.4	$1	$1,786
41	FGEM	EGShares Financials GEMS ETF	27.9	$3	$13,643
42	HGEM	EGShares Health Care GEMS ETF	6.4	$1	$8,196
43	IGEM	EGShares Industrials GEMS ETF	6.4	$1	$4,005
44	QGEM	EGShares Technology GEMS ETF	6.4	$1	$7,442
45	TGEM	EGShares Telecom GEMS ETF	6.4	$1	$6,526
46	UGEM	EGShares Utilities GEMS ETF	6.4	$1	$18,759
47	GWO	ELEMENTS CS Global Warming ETN	45.6	$3	$13,391
48	DOD	ELEMENTS Dogs of the Dow Total Return ETN	50.5	$5	$97,606
49	FUE	ELEMENTS MLCX Biofuels ETN	47.4	$2	$50,494
50	WMW	ELEMENTS Morningstar Wide Moat Focus ETN	51.2	$10	$49,241
51	EEH	ELEMENTS Spctrm LgCap US Sector Mo ETN	53.7	$1	$1,792
52	EAPS	ESG Shares Pax MSCI EAFE ESG Index ETF	11.2	$4	$53,649
53	FOL	FactorShares 2X: Oil Bull/S&P500 Bear	10.3	$2	$66,155
54	FSE	FactorShares 2X: S&P500 Bull/TBond Bear	10.3	$1	$26,595
55	FSU	FactorShares 2X: S&P500 Bull/USD Bear	10.3	$2	$6,239
56	FSA	FactorShares 2X: TBond Bull/S&P500 Bear	10.3	$3	$56,229
57	FPA	First Trust Asia Pacific Ex-Japan AlphaDEX	8.5	$2	$38,739
58	FBZ	First Trust Brazil AlphaDEX Fund	8.5	$7	$55,635
59	FCA	First Trust China AlphaDEX Fund	8.5	$3	$26,927
60	FDD	First Trust DJ STOXX European Select Div	52.8	$10	$83,358
61	FEP	First Trust Europe AlphaDEX Fund	8.5	$5	$114,986
62	FJP	First Trust Japan AlphaDEX	8.5	$4	$18,040
63	FLN	First Trust Latin America AlphaDEX	8.5	$2	$34,627
64	FMK	First Trust Mega Cap AlphaDEX Fund	7.8	$4	$67,358
65	FNK	First Trust Mid Cap Value AlphaDEX	8.5	$7	$217,982
66	QABA	First Trust NASDAQ ABA Community Bank	30.4	$13	$57,791
67	FONE	First Trust NASDAQ CEA Smartphone	10.5	$13	$47,684
68	CARZ	First Trust NASDAQ Global Auto Index	7.8	$3	$9,725
69	FYT	First Trust Small Cap Value AlphaDEX	8.5	$2	$160,187
70	FKO	First Trust South Korea AlphaDEX	8.5	$1	$14,291
71	FPX	First Trust US IPO Index Fund	69.6	$16	$53,445
72	FVI	First Trust Value Line Equity Allocation	61.7	$6	$124,764
73	FBM	Focus Morningstar Basic Materials Index ETF	9.2	$4	$49,685
74	FCQ	Focus Morningstar Communication Srvcs ETF	9.2	$5	$8,882
75	FCL	Focus Morningstar Consumer Cyclical ETF	9.2	$5	$9,245
76	FCD	Focus Morningstar Consumer Defensive ETF	9.2	$5	$25,987
77	FEG	Focus Morningstar Energy Index ETF	9.2	$4	$151,432
78	FFL	Focus Morningstar Financial Services ETF	9.2	$4	$34,810
79	FHC	Focus Morningstar Health Care Index ETF	9.2	$5	$40,033
80	FIL	Focus Morningstar Industrials Index ETF	9.2	$5	$49,761
81	FLG	Focus Morningstar Large Cap Index ETF	9.2	$5	$85,426
82	FMM	Focus Morningstar Mid Cap Index ETF	9.2	$5	$65,418
83	FRL	Focus Morningstar Real Estate Index ETF	9.2	$5	$14,287
84	FOS	Focus Morningstar Small Cap Index ETF	9.2	$5	$63,697
85	FTQ	Focus Morningstar Technology Index ETF	9.2	$5	$54,343
86	FUI	Focus Morningstar Utilities Index ETF	9.2	$7	$49,620
87	ALUM	Global X Aluminum ETF	12.0	$3	$39,837
88	VROM	Global X Auto ETF	7.5	$4	$16,956
89	BRAF	Global X Brazil Financials ETF	17.3	$5	$76,777
90	CHIE	Global X China Energy ETF	24.8	$4	$27,463
91	CHIX	Global X China Financials ETF	25.0	$14	$384,846
92	CHII	Global X China Industrial ETF	25.3	$4	$44,052
93	CHIM	Global X China Materials ETF	23.9	$2	$42,346
94	BARN	Global X Farming ETF	7.1	$3	$34,284
95	FISN	Global X Fishing Industry ETF	8.0	$2	$6,588
96	EATX	Global X Food ETF	8.1	$3	$31,009
97	AND	Global X FTSE Andean 40 ETF	11.0	$6	$49,820
98	ARGT	Global X FTSE Argentina 20 ETF	10.1	$4	$24,203
99	MEXS	Global X Mexico Small-Cap ETF	8.0	$1	$3,648
100	QQQC	Global X NASDAQ China Technology ETF	25.1	$4	#N/A
101	XOIL	Global X Oil Equities ETF	9.7	$3	$41,789
102	GGGG	Global X Pure Gold Miners ETF	9.7	$4	$104,149
103	EMGX	Global X Russell Emerging Markets Growth ETF	11.3	$2	$7,171
104	EMVX	Global X Russell Emerging Markets Value ETF	11.3	$2	$5,706
105	TSXV	Global X S&P/TSX Venture 30 Canada ETF	9.6	$2	$36,338
106	WSTE	Global X Waste Management ETF	8.7	$1	$8,588
107	ABCS	Guggenheim ABC High Dividend ETF	6.9	$7	$50,195
108	GIY	Guggenheim Enhanced Core Bond ETF	47.3	$5	$61,774
109	GSY	Guggenheim Enhanced Short Duration Bond	47.3	$15	$65,610
110	EEN	Guggenheim EW Euro-Pacific LDRs ETF	58.9	$2	$12,210
111	XGC	Guggenheim International Small Cap LDRs	57.8	$5	$21,756
112	OTP	Guggenheim Ocean Tomo Patent ETF	61.4	$21	$227,395
113	XRO	Guggenheim Sector Rotation ETF	64.2	$11	$54,089
114	WXSP	Guggenheim Wilshire 4500 Completion ETF	22.1	$6	$1,468
115	WFVK	Guggenheim Wilshire 5000 Total Market ETF	22.1	$6	$35,878
116	JJU	iPath DJ-UBS Aluminum ETN	42.8	$4	$41,521
117	LD	iPath DJ-UBS Lead ETN	42.8	$4	$108,427
118	ERO	iPath EUR/USD Exchange Rate ETN	56.6	$5	$34,310
119	GBB	iPath GBP/USD Exchange Rate ETN	56.6	$3	$10,087
120	GRN	iPath Global Carbon ETN	42.8	$1	$11,307
121	MFLA	iPath Long Enh 2x MSCI EAFE Index ETN	13.2	$3	$341
122	EMLB	iPath Long Enh 2x MSCI Emerging Mkts ETN	13.2	$2	$12,595
123	ROLA	iPath Long Ext 3x Russell 1000 TR ETN	13.2	$5	$9,336
124	RTLA	iPath Long Ext 3x Russell 2000 TR ETN	13.2	$4	$469,125
125	SFLA	iPath Long Ext 3x S&P 500 TR Index ETN	13.2	$5	$214,031
126	DIRT	iPath Pure Beta Agriculture ETN	8.5	$2	$18,384
127	FOIL	iPath Pure Beta Aluminum ETN	8.5	$3	$1,029
128	BCM	iPath Pure Beta Broad Commodity ETN	8.5	$9	$107,439
129	CHOC	iPath Pure Beta Cocoa ETN	8.5	$2	$40,683
130	CAFE	iPath Pure Beta Coffee ETN	8.5	$2	$39,591
131	CUPM	iPath Pure Beta Copper ETN	8.5	$2	$30,436
132	CTNN	iPath Pure Beta Cotton ETN	8.5	$2	$17,447
133	OLEM	iPath Pure Beta Crude Oil ETN	8.5	$2	$28,979
134	ONG	iPath Pure Beta Energy ETN	8.5	$2	$8,364
135	WEET	iPath Pure Beta Grains ETN	8.5	$2	$69,153
136	HEVY	iPath Pure Beta Industrial Metals ETN	8.5	$2	$21,451
137	LEDD	iPath Pure Beta Lead ETN	8.5	$3	$10,814
138	NINI	iPath Pure Beta Nickel ETN	8.5	$1	$3,419
139	BLNG	iPath Pure Beta Precious Metals ETN	8.5	$4	$28,411
140	SBV	iPath Pure Beta S&P GSCI-Weighted ETN	8.5	$5	$14,469
141	GRWN	iPath Pure Beta Softs ETN	8.5	$3	$13,484
142	DCNG	iPath Seasonal Natural Gas ETN	8.5	$2	$13,761
143	MFSA	iPath Short Enh -2x MSCI EAFE Index ETN	13.2	$6	$5,057
144	ROSA	iPath Short Ext -3x Russell 1000 TR ETN	13.2	$3	$21,662
145	DTUL	iPath US Treasury 2-year Yield Bull ETN	16.9	$9	$49,939
146	STPP	iPath US Treasury Steepener ETN	16.9	$2	$52,851
147	IOIL	IQ Global Oil Small Cap ETF	8.0	$2	$21,150
148	ROOF	IQ US Real Estate Small Cap ETF	6.7	$10	$67,818
149	FNIO	iShares FTSE NAREIT Industrial/Office Cpd	56.6	$10	$41,508
150	IFNA	iShares FTSE NAREIT North America	50.1	$13	$51,382
151	RTL	iShares FTSE NAREIT Retail Capped	56.6	$9	$48,549
152	AXDI	iShares MSCI ACWI ex US Consumer Discr	17.8	$5	$4,522
153	AXSL	iShares MSCI ACWI ex US Consumer Staples	17.8	$3	$54,775
154	AXEN	iShares MSCI ACWI ex US Energy	17.8	$6	$30,862
155	AXFN	iShares MSCI ACWI ex US Financials	23.6	$2	$10,298
156	AXHE	iShares MSCI ACWI ex US Health Care	17.8	$9	$83,178
157	AXID	iShares MSCI ACWI ex US Industrials	17.8	$2	$1,201
158	AXIT	iShares MSCI ACWI ex US Info Technology	17.8	$2	$9,107
159	AXMT	iShares MSCI ACWI ex US Materials	17.8	$3	$8,327
160	AXTE	iShares MSCI ACWI ex US Telecom Services	17.8	$3	$7,854
161	AXUT	iShares MSCI ACWI ex US Utilities	17.8	$2	$17,699
162	EMFN	iShares MSCI Emerging Markets Financials	23.6	$3	$27,761
163	EMMT	iShares MSCI Emerging Markets Materials	23.6	$8	$42,447
164	FEFN	iShares MSCI Far East Financials Sector	23.6	$2	$918
165	NUCL	iShares S&P Global Nuclear Energy	42.8	$11	$45,896
166	TZL	iShares S&P Target Date 2030 Index Fund	38.4	$13	$83,400
167	TZO	iShares S&P Target Date 2035 Index Fund	38.4	$8	$36,467
168	TZV	iShares S&P Target Date 2040 Index Fund	38.4	$16	$71,136
169	TGR	iShares S&P Target Date Retirement Inc.	38.4	$9	$53,101
170	DSXJ	JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN	15.1	$8	$111,759
171	DSTJ	JPM Qtrly Dbl Short US Long Treas Fut ETN	15.1	$7	$11,583
172	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	43.9	$3	$5,172
173	COLX	Market Vectors Colombia ETF	9.7	$2	$6,237
174	URR	Market Vectors Double Long Euro ETN	44.4	$1	$22,729
175	GERJ	Market Vectors Germany Small-Cap ETF	9.0	$3	$24,188
176	INR	Market Vectors Indian Rupee/USD ETN	46.1	$4	$43,406
177	FLTR	Market Vectors Investment Grd Floating Rate	8.3	$7	$39,196
178	BONO	Market Vectors LatAm Aggregate Bond ETF	7.8	$7	$53,231
179	RSXJ	Market Vectors Russia Small-Cap ETF	8.7	$3	$55,734
180	MLPY	Morgan Stanley Cushing MLP High Income ETN	9.6	$18	$66,649
181	BARL	Morgan Stanley S&P 500 Crude Oil ETN	6.2	$9	$6,920
182	NASI	Pax MSCI North America ESG Index	19.7	$5	$47,060
183	TRSY	PIMCO Broad U.S. Treasury Index Fund	14.2	$19	$30,440
184	PMA	PowerShares Active Mega-Cap Portfolio	45.2	$5	$57,153
185	CVRT	PowerShares Convertible Securities Portfolio	7.3	$9	$70,637
186	JGBT	PowerShares DB 3x Japanese G-Bond Fut ETN	9.4	$4	$7,513
187	UDNT	PowerShares DB 3x Short USD Idx Futures ETN	7.4	$4	$33,262
188	ADZ	PowerShares DB Agriculture Short ETN	45.1	$2	$48,269
189	BDG	PowerShares DB Base Metals Long ETN	43.1	$1	$5,216
190	DEE	PowerShares DB Commodity Dbl Short ETN	44.7	$3	$72,859
191	DPU	PowerShares DB Commodity Long ETN	44.7	$6	$16,383
192	JGBL	PowerShares DB Japanese G-Bond Fut ETN	9.4	$5	$6,572
193	PJB	PowerShares Dynamic Banking	63.5	$12	$39,003
194	PEZ	PowerShares Dynamic Cons Discretionary	63.5	$18	$190,574
195	PIC	PowerShares Dynamic Insurance	75.2	$7	$27,548
196	PIQ	PowerShares Dynamic Magniquant	63.5	$17	$36,786
197	PXLC	PowerShares Fundamental Pure Large Core	61.9	$23	$59,664
198	PXLG	PowerShares Fundamental Pure Large Gr	6.6	$2	$28,638
199	PXMC	PowerShares Fundamental Pure Mid Core	61.9	$20	$43,351
200	PKN	PowerShares Global Nuclear Energy	45.6	$15	$64,828
201	PSTL	PowerShares Global Steel Portfolio	39.8	$4	$14,827
202	PWND	PowerShares Global Wind Energy	42.6	$15	$73,592
203	PTO	PowerShares Ibbotson Alternative Completion	44.0	$8	$34,019
204	KBWX	PowerShares KBW International Financial	13.1	$3	$1,691
205	KBWY	PowerShares KBW Premium Yield Equity REIT	13.1	$7	$39,186
206	KBWP	PowerShares KBW Property & Casualty Ins	13.1	$4	$4,464
207	PMNA	PowerShares MENA Frontier Countries	42.3	$19	$94,474
208	PYH	PowerShares Morningstar StockInvestor Core	61.9	$16	$22,838
209	PSCM	PowerShares S&P SmallCap Materials	21.1	$4	$46,514
210	IGS	ProShares Short Investment Grade Corporate	9.2	$4	$57,116
211	UJB	ProShares Ultra High Yield	8.7	$2	$18,879
212	IGU	ProShares Ultra Investment Grade Corporate	8.7	$2	$65,243
213	KRU	ProShares Ultra KBW Regional Banking	20.6	$4	$409,281
214	UPV	ProShares Ultra MSCI Europe	20.4	$2	$293,527
215	UMX	ProShares Ultra MSCI Mexico Investable Mkt	20.4	$1	$23,632
216	UXJ	ProShares Ultra MSCI Pacific Ex-Japan	20.4	$2	$124,713
217	UVG	ProShares Ultra Russell 1000 Value	59.1	$6	$44,097
218	UWC	ProShares Ultra Russell3000	30.4	$7	$81,486
219	LTL	ProShares Ultra Telecommunications	45.8	$3	$225,337
220	TBZ	ProShares UltraShort 3-7 Year Treasury	9.0	$4	$14,230
221	RXD	ProShares UltraShort Healthcare	59.9	$3	$90,932
222	SMK	ProShares UltraShort MSCI Mexico	30.9	$3	$133,774
223	JPX	ProShares UltraShort MSCI Pacific ex-Japan	30.9	$3	$66,351
224	BIS	ProShares UltraShort Nasdaq Biotechnology	21.1	$2	$57,443
225	SFK	ProShares UltraShort Russell 1000 Growth	59.1	$6	$216,368
226	SJF	ProShares UltraShort Russell 1000 Value	59.1	$2	$104,631
227	SDK	ProShares UltraShort Russell Midcap Growth	59.1	$3	$166,638
228	SJL	ProShares UltraShort Russell Midcap Value	59.1	$2	$140,987
229	TWQ	ProShares UltraShort Russell3000	30.4	$2	$55,587
230	TLL	ProShares UltraShort Telecom	45.8	$3	$259,821
231	TPS	ProShares UltraShort TIPS	10.8	$1	$27,171
232	SDP	ProShares UltraShort Utilities	59.9	$3	$361,473
233	RWW	RevenueShares Financials Sector Fund	38.2	$7	$48,235
234	HMTM	Russell 1000 High Momentum ETF	7.3	$5	$220,621
235	HVOL	Russell 1000 High Volatility ETF	7.3	$4	$36,874
236	LBTA	Russell 1000 Low Beta ETF	7.3	$5	$18,745
237	SHBT	Russell 2000 High Beta ETF	7.3	$4	$16,431
238	SLBT	Russell 2000 Low Beta ETF	7.3	$5	$1,181
239	SLVY	Russell 2000 Low Volatility ETF	7.3	$5	$206,865
240	AGRG	Russell Aggressive Growth ETF	7.5	$5	$11,797
241	CNTR	Russell Contrarian ETF	7.5	$4	$5,338
242	ONEF	Russell Equity ETF	20.0	$6	$53,785
243	LWPE	Russell Low P/E ETF	7.5	$9	$13,275
244	EWAC	Rydex MSCI All Country World Equal Weight	11.8	$3	$19,399
245	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	27.6	$12	$102,244
246	JPP	SPDR Russell/Nomura PRIME Japan	62.4	$14	$107,423
247	IPW	SPDR S&P International Energy	41.8	$10	$80,842
248	IPU	SPDR S&P International Utilities	41.8	$12	$96,810
249	KME	SPDR S&P Mortgage Finance ETF	32.5	$3	$5,040
250	NAGS	Teucrium Natural Gas Fund	11.1	$1	$40,691
251	MLPS	UBS ETRACS 1x Mthly Short Alerian MLP ETN	15.3	$11	$18,347
252	MLPG	UBS ETRACS Alerian Natural Gas MLP ETN	17.8	$14	$72,977
253	UBN	UBS ETRACS CMCI Energy TR ETN	45.6	$3	$24,534
254	UBG	UBS ETRACS CMCI Gold TR ETN	45.6	$9	$175,009
255	UBM	UBS ETRACS CMCI Industrial Metals TR ETN	45.6	$5	$77,833
256	UBC	UBS ETRACS CMCI Livestock TR ETN	45.6	$5	$27,430
257	PTD	UBS ETRACS CMCI Short Platinum ER ETN	44.4	$3	$7,245
258	GASZ	UBS ETRACS Natural Gas Fut. Contango ETN	6.6	$11	$9,724
259	OILZ	UBS ETRACS Oil Futures Contango ETN	6.6	$10	$4,967
260	BDCS	UBS ETRACS Wells Fargo BDC ETN	8.2	$8	$59,798
261	MLPW	UBS ETRACS Wells Fargo MLP Index ETN	14.2	$18	$32,302
262	VTWV	Vanguard Russell 2000 Value ETF	15.5	$11	$44,556
263	IVOV	Vanguard S&P Mid-Cap 400 Value ETF	15.9	$11	$163,960
264	VIIZ	VelocityShares VIX Medium-Term ETN	13.2	$8	$26,196
265	EU	WisdomTree Euro Debt Fund	44.2	$5	$47,886
266	HEDJ	WisdomTree International Hedged Equity	24.3	$18	$48,993
267	ROI	WisdomTree LargeCap Growth	37.4	$18	$77,675
268	GULF	WisdomTree Middle East Dividend	42.1	$15	$78,746

 Data sources:  Daily prices and volume of individual ETPs from Norgate Premium Data, AUM from the ETF Industry Association, 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.

ETF Deathwatch for September 2011: Ben Graham Has Left The Building

The number of products on ETF Deathwatch held steady at 163 for September, although the membership list shows numerous changes.  Ten names were added and another ten came off, leaving 123 ETFs and 40 ETNs vulnerable to shutdown.

Four products escaped the list simply because they no longer exist.  These perpetual members of ETF Deathwatch have been closed and liquidated:

1. ELEMENTS Benjamin Graham Large Cap Value ETN (BVL) [Ben Graham ELEMENTS ETNs Closing]
2. ELEMENTS Benjamin Graham Small Cap Value ETN (BSC)
3. ELEMENTS Benjamin Graham Total Market Value ETN (BVT)
4. FaithShares Christian Values Fund (FOC)

Six ETPs had substantial increases in assets and trading activity the past three months, leaving the list more honorably:

1. BLDRS Europe 100 ADR (ADRU)
2. iPath Short Enhanced -2x MSCI Emerging Markets ETN (EMSA)
3. iShares 2016 S&P AMT-Free Muni Series (MUAE)
4. iShares FTSE NAREIT North America (IFNA)
5. SPDR S&P International Health Care (IRY)
6. VelocityShares Daily 2x VIX Medium-Term ETN (TVIZ)

New ETFs receive a six-month grace before they are eligible for ETF Deathwatch.  This gives them a fair chance gain traction with investors.  Five of the 14 new ETPs launched in February blew their chance and now join the ETF Deathwatch.  Also,  five older ETFs were added because of a drop off in assets and/or trading:

1. FactorShares 2X: Oil Bull/S&P500 Bear (FOL) [FactorShares Introduces Spread Trading In ETF Wrapper]
2. FactorShares 2X: S&P500 Bull/TBond Bear (FSE)
3. FactorShares 2X: TBond Bull/S&P500 Bear (FSA)
4. Global X China Industrial ETF (CHII) [Global X Launches 2 of 6 Planned China Sector ETFs]
5. iShares MSCI Emerging Markets Materials (EMMT) [iShares Begins Rollout of 4 New International Sector ETF Suites]
6. iShares S&P Global Nuclear Energy (NUCL)
7. PowerShares Fundamental Pure Mid Core (PXMC) [Ticker Changes for PowerShares ETFs]
8. PowerShares MENA Frontier Countries (PMNA)
9. ProShares UltraShort TIPS (TPS) [Shorting Inflation Protection with TPS]
10. Teucrium Natural Gas Fund (NAGS) [Teucrium Natural Gas Fund Now Trading]

With the demise of the ELEMENTS Benjamin Graham ETNs, other products now compete for the title “Listed Product with the Least Assets.”  ELEMENTS Spectrum Large Cap Sector US Momentum ETN (EEH) and Market Vectors Double Long Euro ETN (URR) each have only a little over $1 million in assets, the least among those on the market for more than six months.

The now defunct ELEMENTS Benjamin Graham ETNs were also notorious for having some of the smallest trading activity.  For August, that honor was shifted to ELEMENTS Spectrum Large Cap Sector US Momentum ETN (EEH) that traded on only four days during the month for a total of fewer than 1700 shares (about 73 shares per day).

The ETF Deathwatch criteria produced 163 names for September.  Here is the complete list:

ETF Deathwatch for September 2011

#	Ticker Sym	ETF Name	Age (mths)	AUM (millions)	3-mth Avg Daily $ Volume
1	DENT	AdvisorShares Dent Tactical ETF	24	$15.6	$67,303
2	AADR	AdvisorShares WCM/BNY Mellon Foc Gr ADR	14	$8.2	$34,380
3	PGD	Barclays Asian&Gulf Currency Reval. ETN	39	$4.1	$11,643
4	BXDC	Barclays ETN+ S&P 500 2x Short C 2009 ETN	22	$2.7	$707,524
5	JEM	Barclays GEMS Currency Index ETN	44	$3.9	$43,432
6	GCE	Claymore CEF Index GS Connect ETN	45	$3.4	$34,363
7	GVT	Columbia Concentrated Large Cap Value Strat	28	$2.9	$2,748
8	GMTB	Columbia Core Bond Strategy Fund	19	$5.3	$16,226
9	RPX	Columbia Growth Equity Strategy Fund	23	$1.5	$9,759
10	GMMB	Columbia Intermediate Municipal Bond Strategy	19	$5.2	$8,500
11	RWG	Columbia Large-Cap Growth Equity	23	$9.2	$43,522
12	XRU	CurrencyShares Russian Ruble Shares	34	$6.9	$211,284
13	TDD	db-X 2010 Target Date Fund	48	$14.3	$30,571
14	TDX	db-X In-Target Date Fund	48	$15.5	$31,596
15	FLYX	Direxion Airline Shares	9	$2.8	$4,379
16	BRIS	Direxion Daily BRIC Bear 2x	18	$2.9	$71,756
17	BRIL	Direxion Daily BRIC Bull 2x	18	$5.1	$138,345
18	INDZ	Direxion Daily India Bear 2x	18	$3.1	$231,192
19	LHB	Direxion Daily Latin America Bear 3x	21	$3.4	$570,300
20	GASX	Direxion Daily Natural Gas Related Bear 2x	14	$2.0	$179,182
21	RETS	Direxion Daily Retail Bear 2x	14	$2.3	$144,647
22	RETL	Direxion Daily Retail Bull 2x	14	$5.6	$123,911
23	FGEM	EGShares Financials GEMS ETF	24	$6.2	$58,914
24	GWO	ELEMENTS CS Global Warming ETN	42	$3.2	$11,055
25	DOD	ELEMENTS Dogs of the Dow Total Return ETN	46	$4.8	$47,749
26	FUE	ELEMENTS MLCX Biofuels ETN	43	$18.5	$206,809
27	WMW	ELEMENTS Morningstar Wide Moat Focus ETN	47	$10.0	$61,806
28	EEH	ELEMENTS Spctrm LgCap US Sector Mo ETN	50	$1.0	$827
29	EAPS	ESG Shares Pax MSCI EAFE ESG Index ETF	7	$2.2	$36,346
30	FOL	FactorShares 2X: Oil Bull/S&P500 Bear	6	$4.1	$108,050
31	FSE	FactorShares 2X: S&P500 Bull/TBond Bear	6	$1.5	$42,324
32	FSA	FactorShares 2X: TBond Bull/S&P500 Bear	6	$3.5	$103,602
33	FDD	First Trust DJ STOXX European Select Div	49	$9.8	$72,611
34	QABA	First Trust NASDAQ ABA Community Bank	26	$11.8	$71,105
35	FVI	First Trust Value Line Equity Allocation	58	$6.3	$70,669
36	ALUM	Global X Aluminum ETF	8	$4.4	$65,753
37	BRAF	Global X Brazil Financials ETF	13	$7.8	$79,960
38	CHIE	Global X China Energy ETF	21	$5.8	$39,933
39	CHIX	Global X China Financials ETF	21	$5.2	$65,529
40	CHII	Global X China Industrial ETF	21	$4.9	$47,740
41	CHIM	Global X China Materials ETF	20	$3.2	$41,969
42	CHIB	Global X China Technology ETF	21	$6.4	$65,559
43	EMGX	Global X Russell Emerging Markets Growth ETF	7	$2.2	$10,928
44	EMVX	Global X Russell Emerging Markets Value ETF	7	$2.3	$9,177
45	GIY	Guggenheim Enhanced Core Bond ETF	43	$5.4	$20,774
46	GSY	Guggenheim Enhanced Ultra-Short Bond ETF	43	$14.9	$161,517
47	EEN	Guggenheim EW Euro-Pacific LDRs ETF	55	$2.7	$18,019
48	XGC	Guggenheim International Small Cap LDRs	54	$8.2	$167,371
49	OTR	Guggenheim Ocean Tomo Growth Index ETF	54	$10.1	$228,207
50	OTP	Guggenheim Ocean Tomo Patent ETF	57	$9.7	$33,599
51	XRO	Guggenheim Sector Rotation ETF	60	$14.0	$67,615
52	WXSP	Guggenheim Wilshire 4500 Completion ETF	18	$5.6	$52,805
53	WFVK	Guggenheim Wilshire 5000 Total Market ETF	18	$5.5	$36,631
54	EKH	HOLDRS Europe 2001	129	$3.5	$37,100
55	IIH	HOLDRS Internet Infrastructure	140	$9.3	$24,361
56	MKH	HOLDRS Merrill Lynch Market 2000+	134	$11.9	$50,936
57	WMH	HOLDRS Wireless	132	$13.8	$8,808
58	GBB	iPath GBP/USD Exchange Rate ETN	53	$2.6	$84,959
59	GRN	iPath Global Carbon ETN	39	$2.4	$28,519
60	JYN	iPath JPY/USD Exchange Rate ETN	53	$4.9	$19,029
61	MFLA	iPath Long Enh 2x MSCI EAFE Index ETN	9	$3.0	$69,563
62	EMLB	iPath Long Enh 2x MSCI Emerging Mkts ETN	9	$4.4	$54,688
63	ROLA	iPath Long Ext 3x Russell 1000 TR ETN	9	$4.4	$60,999
64	RTLA	iPath Long Ext 3x Russell 2000 TR ETN	9	$3.0	$373,458
65	MFSA	iPath Short Enh -2x MSCI EAFE Index ETN	9	$5.1	$53,667
66	ROSA	iPath Short Ext -3x Russell 1000 TR ETN	9	$4.0	$109,613
67	SFSA	iPath Short Ext -3x S&P 500 TR Index ETN	9	$10.3	$1,909,247
68	TWON	IQ Taiwan Small Cap	16	$3.8	$34,921
69	GLJ	iShares 10+ Year Government/Credit Bond	21	$22.8	$85,520
70	RTL	iShares FTSE NAREIT Retail Capped	53	$8.5	$71,908
71	AXDI	iShares MSCI ACWI ex US Consumer Discr	14	$6.0	$23,102
72	AXSL	iShares MSCI ACWI ex US Consumer Staples	14	$3.1	$13,689
73	AXEN	iShares MSCI ACWI ex US Energy	14	$5.7	$37,899
74	AXFN	iShares MSCI ACWI ex US Financials	20	$2.1	$6,245
75	AXHE	iShares MSCI ACWI ex US Health Care	14	$2.9	$84,954
76	AXID	iShares MSCI ACWI ex US Industrials	14	$5.4	$8,809
77	AXIT	iShares MSCI ACWI ex US Info Technology	14	$2.5	$37,956
78	AXMT	iShares MSCI ACWI ex US Materials	14	$6.1	$24,263
79	AXTE	iShares MSCI ACWI ex US Telecom Services	14	$2.8	$29,203
80	AXUT	iShares MSCI ACWI ex US Utilities	14	$2.3	$40,547
81	EMFN	iShares MSCI Emerging Markets Financials	20	$20.1	$28,507
82	EMMT	iShares MSCI Emerging Markets Materials	20	$9.9	$58,704
83	FEFN	iShares MSCI Far East Financials Sector	20	$2.3	$6,602
84	EIRL	iShares MSCI Ireland Cap. Investable Mkt	16	$4.8	$123,335
85	EUSA	iShares MSCI USA Index Fund	16	$5.2	$155,313
86	NUCL	iShares S&P Global Nuclear Energy	39	$15.0	$63,377
87	TZD	iShares S&P Target Date 2010 Index Fund	34	$7.7	$292,699
88	TZE	iShares S&P Target Date 2015 Index Fund	34	$12.7	$268,369
89	TZI	iShares S&P Target Date 2025 Index Fund	34	$16.2	$250,718
90	TZL	iShares S&P Target Date 2030 Index Fund	34	$13.0	$129,573
91	TZO	iShares S&P Target Date 2035 Index Fund	34	$8.1	$56,231
92	TZV	iShares S&P Target Date 2040 Index Fund	34	$14.7	$89,945
93	TGR	iShares S&P Target Date Retirement Inc.	34	$7.5	$163,070
94	CRBI	Jefferies|TR/J CRB Global Ind Metals Equity	22	$4.0	$30,189
95	JCO	JETS Contrarian Opportunities	17	$5.8	$174,190
96	DSXJ	JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN	11	$8.7	$35,970
97	DSTJ	JPM Qtrly Dbl Short US Long Treas Fut ETN	11	$8.6	$46,062
98	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	40	$3.4	$7,883
99	URR	Market Vectors Double Long Euro ETN	40	$1.1	$25,674
100	INR	Market Vectors Indian Rupee/USD ETN	42	$5.5	$78,871
101	NASI	Pax MSCI North America ESG Index	16	$4.0	$42,054
102	TRSY	PIMCO Broad U.S. Treasury Index Fund	10	$18.7	$50,195
103	PQZ	PowerShares Active Alpha Multi-Cap	41	$2.5	$24,743
104	PMA	PowerShares Active Mega-Cap Portfolio	41	$5.0	$50,678
105	LBND	PowerShares DB 3x Long 25+ Treas ETN	14	$6.4	$91,036
106	ADZ	PowerShares DB Agriculture Short ETN	41	$1.7	$114,845
107	BDG	PowerShares DB Base Metals Long ETN	39	$1.8	$6,911
108	BOS	PowerShares DB Base Metals Short ETN	39	$7.9	$232,466
109	DEE	PowerShares DB Commodity Dbl Short ETN	41	$2.6	$194,656
110	DPU	PowerShares DB Commodity Long ETN	41	$7.5	$33,288
111	DDP	PowerShares DB Commodity Short ETN	41	$2.8	$165,667
112	PEZ	PowerShares Dynamic Cons Discretionary	59	$18.6	$72,898
113	PIC	PowerShares Dynamic Insurance	71	$8.0	$24,104
114	PIQ	PowerShares Dynamic Magniquant	59	$18.8	$41,862
115	PXMC	PowerShares Fundamental Pure Mid Core	58	$20.4	$73,330
116	PXSC	PowerShares Fundamental Pure Small Core	58	$15.1	$73,536
117	PSTL	PowerShares Global Steel Portfolio	36	$4.7	$23,143
118	PTO	PowerShares Ibbotson Alternative Completion	40	$8.9	$35,964
119	KBWX	PowerShares KBW International Financial	9	$3.3	$8,560
120	KBWY	PowerShares KBW Premium Yield Equity REIT	9	$7.0	$88,363
121	KBWP	PowerShares KBW Property & Casualty Ins	9	$3.5	$3,013
122	PMNA	PowerShares MENA Frontier Countries	38	$21.7	$75,127
123	PYH	PowerShares Morningstar StockInvestor Core	58	$15.7	$39,861
124	PSCM	PowerShares S&P SmallCap Materials	17	$6.6	$93,932
125	KRU	ProShares Ultra KBW Regional Banking	17	$1.6	$256,383
126	UPV	ProShares Ultra MSCI Europe	16	$2.9	$127,317
127	UMX	ProShares Ultra MSCI Mexico Investable Mkt	16	$1.8	$12,193
128	UXJ	ProShares Ultra MSCI Pacific Ex-Japan	16	$3.3	$124,870
129	UWC	ProShares Ultra Russell3000	26	$7.0	$73,959
130	YCL	ProShares Ultra Yen	34	$5.6	$366,973
131	RXD	ProShares UltraShort Healthcare	56	$3.6	$160,085
132	SMK	ProShares UltraShort MSCI Mexico	27	$2.5	$72,454
133	JPX	ProShares UltraShort MSCI Pacific ex-Japan	27	$2.4	$39,682
134	BIS	ProShares UltraShort Nasdaq Biotechnology	17	$4.2	$122,579
135	SFK	ProShares UltraShort Russell 1000 Growth	55	$3.1	$292,214
136	SJF	ProShares UltraShort Russell 1000 Value	55	$2.5	$92,564
137	SDK	ProShares UltraShort Russell Midcap Growth	55	$2.9	$150,251
138	SJL	ProShares UltraShort Russell Midcap Value	55	$2.1	$101,268
139	TWQ	ProShares UltraShort Russell3000	26	$2.3	$100,625
140	TLL	ProShares UltraShort Telecom	42	$2.5	$61,762
141	TPS	ProShares UltraShort TIPS	7	$3.1	$40,178
142	SDP	ProShares UltraShort Utilities	56	$2.9	$186,564
143	ONEF	Russell Equity ETF	16	$8.0	$154,021
144	EWAC	Rydex MSCI All Country World Equal Weight	8	$5.6	$64,402
145	KME	SPDR KBW Mortgage Finance ETF	28	$3.3	$22,845
146	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	24	$12.0	$105,784
147	JPP	SPDR Russell/Nomura PRIME Japan	58	$15.0	$80,780
148	IPF	SPDR S&P International Financial	38	$7.9	$95,918
149	IPU	SPDR S&P International Utilities	38	$7.3	$54,514
150	NAGS	Teucrium Natural Gas Fund	7	$2.0	$15,300
151	MLPG	UBS ETRACS Alerian Natural Gas MLP ETN	14	$14.1	$195,156
152	UBN	UBS ETRACS CMCI Energy TR ETN	42	$3.2	$22,440
153	UBG	UBS ETRACS CMCI Gold TR ETN	42	$9.4	$85,617
154	UBM	UBS ETRACS CMCI Industrial Metals TR ETN	42	$6.4	$15,306
155	UBC	UBS ETRACS CMCI Livestock TR ETN	42	$4.9	$5,754
156	PTD	UBS ETRACS CMCI Short Platinum ER ETN	40	$3.1	$2,846
157	SPGH	UBS ETRACS S&P 500 Gold Hedged Idx ETN	19	$17.6	$116,910
158	MLPW	UBS ETRACS Wells Fargo MLP Index ETN	10	$17.7	$79,574
159	IVOV	Vanguard S&P Mid-Cap 400 Value ETF	12	$11.1	$42,365
160	VIIZ	VelocityShares VIX Medium-Term ETN	9	$8.7	$201,936
161	EU	WisdomTree Dreyfus Euro	40	$5.2	$60,393
162	JYF	WisdomTree Dreyfus Japan Yen	40	$13.6	$164,885
163	HEDJ	WisdomTree International Hedged Equity	20	$18.6	$70,520

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.

ETF Deathwatch for September 2010

The number of exchange-traded products (ETPs) on ETF Deathwatch climbed again this month to 153 (114 ETFs and 39 ETNs).  This is a 4.8% increase from last month and the highest number since May 2009.

Two funds closed last month that have been on the list every month since they became eligible:  Grail RiverPark Financials (former ticker RFF) and Grail RiverPark Technology (former ticker RPQ).  In addition, four funds from Claymore are scheduled to close in September and will have their last day of trading this Friday (9/10/10).  All four appeared on ETF Deathwatch at least once in the past three months.

Topping this month’s list is Elements Spectrum Large Cap U.S. Sector Momentum ETN (EEH) which traded on just six of the 22 market days in August.  Its “largest” day was August 17 with 500 shares changing hands.  ETNs from Elements also occupy the next two slots:  Elements CS Global Warming ETN (GWO) and Elements Ben Graham Large Cap Value ETN (BVL), which hasn’t traded in more than a month.  The average bid/ask spread of the top five products on ETF Deathwatch was 4.1% a half hour before Friday’s (9/3/10) close.

New ETF and ETN introductions are on pace to make 2010 the third most prolific year for launches.  However, it’s not necessarily the new funds that are making the list grow, as the 17 new products launched in February 2010 are shaping up to be a good crop.  This is the first month they are eligible for ETF Deathwatch and only one is on the list below – EGS INDXX China Infrastructure Index Fund (CHXX).  Currently 107 products have temporary immunity because they are less than six months old.  However, I won’t be surprised to find many of them here in the coming months.

It doesn’t take much to push an ETF’s dollar volume to either side of our $100,000 monthly threshold, which can make the membership list rather volatile.  This month 14 products are appearing for the first time in at least six months.  They are WisdomTree Europe SmallCap Dividend (DFE), WisdomTree Dreyfus Euro (EU), SPDR S&P International Mid Cap (MDD), HOLDRS Internet Architecture (IAH), EGS DJ Emerging Markets Metals & Mining Titans (EMT), ProShares Ultra Russell 1000 Value (UVG), PowerShares Global Wind Energy (PWND), Rydex S&P SmallCap 600 Pure Growth (RZG), Market Vectors Chinese Renminbi/USD ETN (CNY), ProShares UltraShort Russell 1000 Growth (SFK), Claymore/Zacks Sector Rotation (XRO), Claymore/Beacon Spin-Off ETF (CSD), WisdomTree International Basic Materials (DBN), and iShares MSCI Kokusai Index Fund (TOK).

Listed below are the 153 products on ETF Deathwatch for September that are at least six months old and failed to generate at least $100,000 in average daily dollar volume last month.

ETF Deathwatch for September 2010

Rank	Ticker	Name	Age (mths)	Avg Daily Volume	Avg Daily $ Volume
1	EEH	Elements Spec LgCap US Sector Mo ETN	38	73	586
2	GWO	Elements CS Global Warming ETN	29	114	680
3	BVL	Elements Ben Graham Large Cap Value ETN	25	82	820
4	UBC	E-TRACS CMCI Livestock Total Return ETN	29	45	906
5	PGD	Barclays Asian&Gulf Currency Reval. ETN	27	41	2,045
6	FZB	FaithShares Baptist Values Fund	9	91	2,289
7	RPX	Grail RP Growth ETF	11	86	2,381
8	SPGH	UBS E-TRACS S&P 500 Gold Hedged Idx ETN	7	100	2,813
9	FKL	FaithShares Lutheran Values Fund	9	123	2,990
10	UBN	E-TRACS CMCI Energy Total Return ETN	29	268	3,637
11	PTD	E-TRACS CMCI Short Platinum Exc Ret ETN	28	123	3,922
12	BDG	PowerShares DB Base Metals Long ETN	27	259	5,601
13	JEM	Barclays GEMS Currency Index ETN	31	132	5,796
14	FMV	FaithShares Methodist Values Fund	9	223	5,894
15	FCV	FaithShares Catholic Values Fund	9	232	5,895
16	FUE	Elements MLCX Biofuels ETN	31	777	6,183
17	JVS	JETS DJ Islamic Market International	14	155	6,933
18	GBB	iPath GBP/USD Exchange Rate ETN	40	173	7,292
19	GSR	GlobalShares FTSE Emerging Markets	9	355	7,329
20	EKH	HOLDRS Europe 2001	117	132	7,355
21	FOC	FaithShares Christian Values Fund	9	318	8,205
22	UBG	E-TRACS CMCI Gold Total Return ETN	29	255	8,447
23	PMA	PowerShares Active Mega-Cap Portfolio	29	409	9,003
24	FEFN	iShares MSCI Far East Financials Sector	7	405	9,405
25	EXB	Claymore/Beacon Gbl Exch, Brkrs, & Asst Mgrs	39	823	9,556
26	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	28	341	9,593
27	GRN	iPath Global Carbon ETN	27	386	10,469
28	EEN	Claymore/BNY Mellon EW Euro-Pacific LDRs	43	595	10,537
29	GMMB	Grail McDonnell Intermediate Municipal Bnd	7	232	11,918
30	AXFN	iShares MSCI ACWI ex US Financials Sector	7	532	12,285
31	CRBI	Jefferies|TR/J CRB Global Ind Metals Equity	10	332	12,388
32	KME	SPDR KBW Mortgage Finance ETF	16	318	12,444
33	EMFN	iShares MSCI Emerging Markets Financials	7	495	12,956
34	TGR	iShares S&P Target Date Retirement Inc.	22	514	14,563
35	TXF	Geary TXF Large Companies ETF	10	423	15,767
36	GMTB	Grail McDonnell Core Taxable Bond ETF	7	336	17,392
37	OOK	Geary OOK, Inc.	10	550	17,780
38	BSC	Elements Ben Graham Small Cap Value ETN	25	1,618	17,796
39	PJO	PowerShares FTSE RAFI Japan	39	495	17,939
40	PSTL	PowerShares Global Steel Portfolio	24	927	18,318
41	IWL	iShares Russell Top 200 Index Fund	11	759	19,356
42	PQSC	PowerShares FTSE Nasdaq Small Cap	29	900	19,392
43	UBM	E-TRACS CMCI Industrial Metals TR ETN	29	950	19,393
44	USV	E-TRACS CMCI Silver Total Return ETN	29	736	19,418
45	DPU	PowerShares DB Commodity Long ETN	29	1,309	19,496
46	UAG	E-TRACS CMCI Agriculture TR ETN	29	932	20,284
47	CHIE	Global X China Energy ETF	9	1,505	20,846
48	ERO	iPath EUR/USD Exchange Rate ETN	40	432	21,605
49	PTO	PowerShares Ibbotson Alternative Completion	28	2,045	22,017
50	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	11	741	22,181
51	INR	Market Vectors Indian Rupee/USD ETN	30	586	22,390
52	WMH	HOLDRS Wireless	120	564	22,430
53	FUD	E-TRACS CMCI Food Total Return ETN	29	1,041	22,681
54	DOD	Elements Dogs of the Dow Total Return ETN	34	3,145	22,994
55	AYT	Barclays GEMS Asia 8 ETN	24	491	23,107
56	CRO	Claymore/Zacks Country Rotation	38	1,655	25,434
57	JYF	WisdomTree Dreyfus Japan Yen	28	836	25,679
58	MES	Market Vectors Gulf States	26	1,332	26,765
59	TZE	iShares S&P Target Date 2015 Index Fund	22	905	26,997
60	TZO	iShares S&P Target Date 2035 Index Fund	22	900	27,038
61	BVT	Elements Ben Graham Total Mkt Value ETN	25	2,668	27,377
62	PTRP	PowerShares Glb Progressive Transport.	24	1,077	28,273
63	OTR	Claymore/Ocean Tomo Growth	42	1,182	28,365
64	TZG	iShares S&P Target Date 2020 Index Fund	22	1,005	29,870
65	CHIB	Global X China Technology ETF	9	2,005	29,958
66	TDD	TDX Independence 2010	36	1,295	30,447
67	BHH	HOLDRS B2B Internet ETF	128	55,573	32,169
68	UWC	ProShares Ultra Russell3000	14	595	32,846
69	XGC	Claymore/BNY Mellon Intl Small Cap LDRs	42	1,600	33,020
70	JPP	SPDR Russell/Nomura PRIME Japan	46	895	33,146
71	TLL	ProShares UltraShort Telecom	30	2,695	33,452
72	WMW	Elements Mrngstr Wide Moat Focus ETN	35	3,273	33,591
73	TDX	TDX Independence In-Target	36	1,341	33,749
74	DFE	WisdomTree Europe SmallCap Dividend	51	973	34,434
75	TWQ	ProShares UltraShort Russell3000	14	1,595	37,445
76	ROI	WisdomTree LargeCap Growth	21	1,186	37,596
77	OTP	Claymore/Ocean Tomo Patent	45	1,764	38,608
78	URR	Market Vectors Double Long Euro ETN	28	1,455	38,950
79	GVT	Grail American Beacon Large Cap Value	16	1,259	39,681
80	PEF	PowerShares FTSE RAFI Europe	39	1,205	39,857
81	RWV	RevenueShares Navellier Overall A-100	20	1,291	40,154
82	PKOL	PowerShares Global Coal Portfolio	24	1,505	40,984
83	AGF	PowerShares DB Agriculture Long ETN	29	2,700	42,190
84	MKH	HOLDRS Merrill Lynch Market 2000+	122	977	43,903
85	PQY	PowerShares Active AlphaQ	29	1,986	46,865
86	GULF	WisdomTree Middle East Dividend	26	3,236	47,351
87	EU	WisdomTree Dreyfus Euro	28	2,318	48,302
88	PBTQ	PowerShares Global Biotech Portfolio	24	2,155	48,806
89	TZD	iShares S&P Target Date 2010 Index Fund	22	1,773	51,476
90	TDV	TDX Independence 2040	36	2,927	51,589
91	DJCI	UBS E-TRACS DJ-UBS Commodity TR ETN	10	2,066	51,943
92	BWV	iPath CBOE S&P 500 BuyWrite Index ETN	40	1,191	52,185
93	EMMT	iShares MSCI Emerging Markets Materials	7	2,241	52,195
94	TZL	iShares S&P Target Date 2030 Index Fund	22	1,755	52,482
95	EEO	EGS DJ Emg Mkts Energy Titans	16	1,164	53,243
96	TDN	TDX Independence 2030	36	2,905	53,293
97	GCE	Claymore CEF Index GS Connect ETN	33	3,305	53,713
98	PQBW	PowerShares Nasdaq 100 Buy/Write	27	2,573	53,809
99	TZI	iShares S&P Target Date 2025 Index Fund	22	1,800	54,195
100	UBD	Claymore U.S. Capital Markets Bond ETF	31	1,045	56,007
101	PQZ	PowerShares Active Alpha Multi-Cap	29	3,605	56,777
102	RTL	iShares FTSE NAREIT Retail Capped	40	2,359	57,599
103	MDD	SPDR S&P International Mid Cap	28	2,214	58,887
104	FPX	First Trust US IPO Index Fund	53	3,036	59,714
105	IAH	HOLDRS Internet Architecture	128	1,227	59,988
106	CRBA	Jefferies|TR/J CRB Global Agriculture Equity	10	1,441	60,656
107	IFEU	iShares FTSE EPRA/NAREIT Europe	34	2,355	62,477
108	ADRU	BLDRS Europe 100 ADR	95	3,305	62,840
109	RWG	Grail RP Focused Large Cap Growth ETF	11	2,373	63,150
110	JPX	ProShares UltraShort MSCI Pacific ex-Japan	15	3,750	64,101
111	EMT	EGS DJ Emg Mkts Metals & Mining Titans	16	1,159	64,278
112	MUAE	iShares 2016 S&P AMT-Free Muni Series	8	1,232	64,366
113	NUCL	iShares S&P Global Nuclear Energy	27	1,709	64,509
114	MCRO	IQ Hedge Macro Tracker ETF	15	2,450	65,976
115	PJM	PowerShares Dynamic Small Cap	46	3,664	66,543
116	IFAS	iShares FTSE EPRA/NAREIT Asia	34	2,355	66,953
117	TDH	TDX Independence 2020	36	3,205	67,795
118	EFN	EGS DJ Emerging Markets Financials Titans	12	1,495	68,780
119	JYN	iPath JPY/USD Exchange Rate ETN	40	991	69,035
120	JJE	iPath DJ-UBS Energy ETN	35	3,291	69,280
121	AGA	PowerShares DB Agriculture Dbl Short ETN	29	1,895	72,002
122	PJB	PowerShares Dynamic Banking	47	6,264	73,676
123	LTL	ProShares Ultra Telecommunications	30	1,932	76,936
124	PIQ	PowerShares Dynamic Magniquant	47	3,841	77,337
125	UVG	ProShares Ultra Russell 1000 Value	43	3,568	77,691
126	LVL	Claymore/BBD High Income	39	5,886	80,091
127	FAD	First Trust Multi Cap Growth AlphaDEX	40	3,273	80,483
128	PWND	PowerShares Global Wind Energy	26	7,895	82,867
129	QABA	First Trust NASDAQ ABA Community Bank	14	3,877	83,270
130	EZY	WisdomTree Large Cap Value	43	2,536	84,451
131	MUAD	iShares 2015 S&P AMT-Free Muni Series	8	1,614	84,862
132	CHXX	EGS INDXX China Infrastructure Index Fund	7	4,386	85,208
133	LD	iPath DJ-UBS Lead ETN	27	1,586	85,889
134	JJU	iPath DJ-UBS Aluminum ETN	27	2,995	86,270
135	GRES	IQ Global Resources ETF	10	3,232	86,660
136	UCI	E-TRACS CMCI Total Return ETN	29	4,591	87,330
137	RZG	Rydex S&P SmallCap 600 Pure Growth	55	2,391	89,232
138	PYH	PowerShares Morningstar StockInvestor Core	46	5,086	90,594
139	PAO	PowerShares Riverfront Tactical Bal Growth	28	8,064	90,853
140	PFA	PowerShares Dynamic Dev Intl Opps	39	6,027	91,074
141	CNY	Market Vectors Chinese Renminbi/USD ETN	30	2,309	92,044
142	SFK	ProShares UltraShort Russell 1000 Growth	43	2,686	92,328
143	XRO	Claymore/Zacks Sector Rotation	48	4,441	92,379
144	CSD	Claymore/Beacon Spin-Off ETF	45	4,782	92,560
145	ROB	Claymore/Robb Report Global Luxury	38	5,050	94,239
146	DBN	WisdomTree Intl Basic Materials	47	3,745	94,789
147	MUAC	iShares 2014 S&P AMT-Free Muni Series	8	1,850	95,767
148	IIH	HOLDRS Internet Infrastructure	128	28,627	96,016
149	CHII	Global X China Industrial ETF	9	6,600	98,441
150	TOK	iShares MSCI Kokusai Index Fund	33	2,845	99,538
151	EFO	ProShares Ultra MSCI EAFE	15	1,468	99,763
152	CPI	IQ Real Return ETF	10	3,973	99,872
153	SJL	ProShares UltraShort Russell Midcap Value	43	4,559	99,989

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.

ETF Deathwatch for August 2010

The number of exchange-traded products (ETPs) on ETF Deathwatch climbed again this month to 146 (110 ETFs and 36 ETNs).  This is a 9.8% increase from last month and the largest quantity since fourteen months ago when the count stood at 150.

There are currently 108 products that have been granted temporary immunity from this list because they are less than six months old.  Many will eventually find their way here.  In fact, eight of the 22 new products launched in January 2010 that are eligible for the first time this month are included in the list below.

One of those “newly eligible” tops our list this month:  iShares MSCI Far East Financials Sector (FEFN).  FEFN had trading activity on only two days in July with a grand total of 500 shares changing hands (another data source shows only one day and a total of 240 shares).  I’m not at all surprised to see this ETF here since the remaining nine ETFs needed to complete the MSCI Far East Sector suite have not been launched.  The other “partial suites” launched by iShares at the same time as FEFN are also suffering.  However, iShares took steps to help the MSCI All-Country ex-US suite by launching the other nine ETFs in July.

Despite all the fanfare and hoopla surrounding the introduction of “actively-managed” ETFs from Grail, all seven of their funds are now on ETF Deathwatch.  Of the 28 actively-managed ETFs currently on the market, four were introduced in the past six months giving them temporary immunity from the ETF Deathwatch list.  Of the remaining 24, eleven of them (45.8%) can be found on the list below.

Listed below are the 146 products on ETF Deathwatch for August that failed to generate at least $100,000 in average daily dollar volume, or average daily value traded (ADVT), during the past month.

ETF Deathwatch for August 2010

Rank	Ticker	Name	Age (mths)	Avg Daily Volume	Avg Daily Value Traded
1	FEFN	iShares MSCI Far East Financials Sector	6.3	24	$533
2	PGD	Barclays Asian&Gulf Currency Reval. ETN	25.8	29	$1,422
3	GWO	Elements CS Global Warming ETN	28.3	238	$1,454
4	BVL	Elements Ben Graham Large Cap Value ETN	23.9	186	$1,816
5	JVS	JETS DJ Islamic Market International	13.2	43	$1,903
6	EEN	Claymore/BNY Mellon EW Euro-Pacific LDRs	41.6	181	$2,970
7	GMMB	Grail McDonnell Intermediate Municipal Bnd	6.1	62	$3,153
8	UBN	E-TRACS CMCI Energy Total Return ETN	28.3	238	$3,263
9	JEM	Barclays GEMS Currency Index ETN	30.4	81	$3,560
10	PTD	E-TRACS CMCI Short Platinum Exc Ret ETN	27.1	129	$4,109
11	EEH	Elements Spec LgCap US Sector Mo ETN	36.5	595	$4,714
12	FKL	FaithShares Lutheran Values Fund	7.6	233	$5,884
13	MKH	HOLDRS Merrill Lynch Market 2000+	120.7	133	$5,954
14	GBB	iPath GBP/USD Exchange Rate ETN	39.3	157	$6,449
15	EXB	Claymore/Beacon Gbl Exch, Brkrs, & Asst Mgrs	37.7	567	$6,527
16	FZB	FaithShares Baptist Values Fund	7.6	295	$7,679
17	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	26.7	324	$9,022
18	KME	SPDR KBW Mortgage Finance ETF	15.2	224	$9,083
19	RPX	Grail RP Growth ETF	10.1	352	$9,259
20	AXFN	iShares MSCI ACWI ex US Financials Sector	6.3	438	$9,780
21	WMH	HOLDRS Wireless	118.7	271	$10,605
22	ULQ	Claymore U.S. Cap Mkts Micro-Trm Fxd Inc	30.0	224	$11,136
23	CRO	Claymore/Zacks Country Rotation	37.2	819	$12,188
24	UBM	E-TRACS CMCI Industrial Metals TR ETN	28.3	648	$12,355
25	DOD	Elements Dogs of the Dow Total Return ETN	33.2	1,795	$12,472
26	GCE	Claymore CEF Index GS Connect ETN	32.1	848	$13,206
27	GMTB	Grail McDonnell Core Taxable Bond ETF	6.1	262	$13,433
28	CRBA	Jefferies|TR/J CRB Global Agriculture Equity	9.2	367	$13,473
29	RFF	Grail RP Financials ETF	10.1	567	$13,872
30	FUE	Elements MLCX Biofuels ETN	30.2	1,838	$14,272
31	BDG	PowerShares DB Base Metals Long ETN	25.8	714	$14,417
32	UBC	E-TRACS CMCI Livestock Total Return ETN	28.3	762	$14,737
33	RPQ	Grail RP Technology ETF	10.1	533	$14,802
34	SPGH	UBS E-TRACS S&P 500 Gold Hedged Idx ETN	6.1	590	$15,904
35	UAG	E-TRACS CMCI Agriculture TR ETN	28.3	819	$16,800
36	PQSC	PowerShares FTSE Nasdaq Small Cap	28.3	767	$17,211
37	BSC	Elements Ben Graham Small Cap Value ETN	23.8	1,667	$17,603
38	UBG	E-TRACS CMCI Gold Total Return ETN	28.3	562	$18,192
39	INR	Market Vectors Indian Rupee/USD ETN	28.8	486	$18,347
40	PQZ	PowerShares Active Alpha Multi-Cap	28.0	1,162	$18,633
41	XGC	Claymore/BNY Mellon Intl Small Cap LDRs	40.5	962	$19,081
42	EMFN	iShares MSCI Emerging Markets Financials	6.3	752	$19,125
43	AGF	PowerShares DB Agriculture Long ETN	27.9	1,362	$19,793
44	PBTQ	PowerShares Global Biotech Portfolio	22.7	919	$20,001
45	PSTL	PowerShares Global Steel Portfolio	22.6	1,090	$20,737
46	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	10.3	705	$21,135
47	CRBI	Jefferies|TR/J CRB Global Ind Metals Equity	9.2	605	$21,583
48	EFN	EGS DJ Emerging Markets Financials Titans	10.6	486	$21,658
49	EKH	HOLDRS Europe 2001	116.0	405	$22,307
50	FCV	FaithShares Catholic Values Fund	7.8	905	$23,041
51	AYT	Barclays GEMS Asia 8 ETN	23.2	529	$24,509
52	TZO	iShares S&P Target Date 2035 Index Fund	21.1	838	$24,594
53	PMA	PowerShares Active Mega-Cap Portfolio	27.9	1,186	$25,412
54	CHIE	Global X China Energy ETF	7.6	1,929	$25,989
55	TZI	iShares S&P Target Date 2025 Index Fund	21.1	890	$26,457
56	IFEU	iShares FTSE EPRA/NAREIT Europe	32.8	1,038	$26,522
57	PTRP	PowerShares Glb Progressive Transport.	22.7	1,029	$26,582
58	CHIB	Global X China Technology ETF	7.8	1,886	$26,917
59	LD	iPath DJ-UBS Lead ETN	25.6	595	$28,463
60	GRN	iPath Global Carbon ETN	25.6	1,119	$28,609
61	UWC	ProShares Ultra Russell3000	13.1	514	$29,241
62	TZE	iShares S&P Target Date 2015 Index Fund	21.1	1,014	$29,438
63	PEF	PowerShares FTSE RAFI Europe	37.7	938	$30,280
64	EMMT	iShares MSCI Emerging Markets Materials	6.3	1,381	$30,281
65	GSR	GlobalShares FTSE Emerging Markets	7.8	1,600	$31,096
66	IPN	SPDR S&P International Industrial	24.5	1,348	$31,266
67	IWL	iShares Russell Top 200 Index Fund	10.3	1,295	$32,224
68	BVT	Elements Ben Graham Total Mkt Value ETN	23.9	2,995	$32,393
69	PTO	PowerShares Ibbotson Alternative Completion	26.7	3,176	$33,185
70	PKOL	PowerShares Global Coal Portfolio	22.7	1,376	$35,645
71	JPP	SPDR Russell/Nomura PRIME Japan	45.2	1,014	$37,016
72	FUD	E-TRACS CMCI Food Total Return ETN	28.3	1,933	$38,717
73	OTP	Claymore/Ocean Tomo Patent	44.1	1,800	$39,148
74	RWG	Grail RP Focused Large Cap Growth ETF	10.1	1,500	$39,437
75	NUCL	iShares S&P Global Nuclear Energy	25.5	1,124	$40,944
76	ROB	Claymore/Robb Report Global Luxury	36.6	2,276	$41,422
77	USV	E-TRACS CMCI Silver Total Return ETN	28.3	1,643	$41,545
78	IPU	SPDR S&P International Utilities	24.5	2,148	$41,610
79	WMW	Elements Mrngstr Wide Moat Focus ETN	33.9	4,205	$41,815
80	DPU	PowerShares DB Commodity Long ETN	27.5	2,962	$42,094
81	BDH	HOLDRS Broadband ETF	125.6	4,152	$44,436
82	GVT	Grail American Beacon Large Cap Value	15.1	1,471	$45,610
83	ERO	iPath EUR/USD Exchange Rate ETN	39.3	943	$47,156
84	IRY	SPDR S&P International Health Care	24.5	1,752	$47,563
85	IRV	SPDR S&P International Materials	24.5	2,110	$48,529
86	TZL	iShares S&P Target Date 2030 Index Fund	21.1	1,681	$49,800
87	XRU	CurrencyShares Russian Ruble Shares	20.9	1,538	$50,280
88	DJCI	UBS E-TRACS DJ-UBS Commodity TR ETN	9.2	200	$51,034
89	FMV	FaithShares Methodist Values Fund	7.8	2,000	$51,081
90	TZD	iShares S&P Target Date 2010 Index Fund	21.1	1,790	$51,425
91	BHH	HOLDRS B2B Internet ETF	127.0	77,400	$51,464
92	TLL	ProShares UltraShort Telecom	28.5	3,657	$51,627
93	TZV	iShares S&P Target Date 2040 Index Fund	21.1	1,814	$51,781
94	RHS	Rydex S&P Equal Weight Cons Staples	45.4	1,048	$53,624
95	TDD	TDX Independence 2010	34.5	2,329	$53,908
96	FDD	First Trust DJ STOXX European Select Div	35.5	4,357	$55,135
97	TDX	TDX Independence In-Target	34.5	2,233	$55,696
98	GULF	WisdomTree Middle East Dividend	24.8	4,005	$57,555
99	MES	Market Vectors Gulf States	24.6	3,076	$59,147
100	SZR	WisdomTree Dreyfus S. African Rand	25.5	2,133	$60,813
101	TDN	TDX Independence 2030	34.5	3,419	$61,430
102	LVL	Claymore/BBD High Income	37.7	4,762	$63,214
103	PMR	PowerShares Dynamic Retail	58.0	4,000	$64,245
104	IST	SPDR S&P International Telecom	24.5	2,924	$64,603
105	PTE	PowerShares Dynamic Telecom & Wireless	56.6	4,714	$65,008
106	PJB	PowerShares Dynamic Banking	46.3	5,305	$65,172
107	FPX	First Trust US IPO Index Fund	52.3	3,443	$67,445
108	CZA	Claymore/Zacks Mid-Cap Core ETF	40.5	2,738	$67,791
109	INY	SPDR Nuveen Barclays New York Muni Bond	34.0	3,052	$69,609
110	FOC	FaithShares Christian Values Fund	7.8	2,762	$71,035
111	TDV	TDX Independence 2040	34.5	4,157	$71,905
112	PIC	PowerShares Dynamic Insurance	58.0	5,038	$72,530
113	UHN	United States Heating Oil Fund LP	28.1	2,971	$73,642
114	OTR	Claymore/Ocean Tomo Growth	40.5	3,157	$74,684
115	EEO	EGS DJ Emg Mkts Energy Titans	14.5	1,681	$75,345
116	IPK	SPDR S&P International Technology	24.6	3,181	$75,509
117	JPX	ProShares UltraShort MSCI Pacific ex-Japan	13.6	4,129	$75,667
118	IPD	SPDR S&P International Consumer Discr	24.5	3,243	$76,826
119	QABA	First Trust NASDAQ ABA Community Bank	13.2	3,414	$77,679
120	PFA	PowerShares Dynamic Dev Intl Opps	38.1	5,252	$77,893
121	RWV	RevenueShares Navellier Overall A-100	18.5	2,610	$80,818
122	TDH	TDX Independence 2020	34.5	3,962	$82,034
123	MUAE	iShares 2016 S&P AMT-Free Muni Series	6.9	1,595	$82,260
124	QQXT	First Trust Nasdaq-100 ex-Technology	42.1	4,729	$83,159
125	UCD	ProShares Ultra DJ-UBS Commodity	20.4	3,638	$83,574
126	PKW	PowerShares Buyback Achievers	44.0	4,105	$83,815
127	IPW	SPDR S&P International Energy	24.5	3,848	$83,908
128	IFAS	iShares FTSE EPRA/NAREIT Asia	32.8	3,133	$84,601
129	BWV	iPath CBOE S&P 500 BuyWrite Index ETN	38.8	1,967	$84,700
130	PMNA	PowerShares MENA Frontier Countries	25.1	6,952	$85,213
131	FVI	First Trust Value Line Equity Allocation	44.5	4,971	$86,472
132	IFNA	iShares FTSE NAREIT North America	32.8	2,462	$86,721
133	EZY	WisdomTree Large Cap Value	41.8	2,690	$87,932
134	JJP	iPath DJ-UBS Precious Metals ETN	25.6	1,452	$88,854
135	RTL	iShares FTSE NAREIT Retail Capped	39.4	3,848	$89,103
136	LTL	ProShares Ultra Telecommunications	28.5	2,538	$90,156
137	MNA	IQ Merger Arbitrage ETF	8.5	3,524	$90,161
138	PJO	PowerShares FTSE RAFI Japan	37.7	2,543	$90,279
139	JJS	iPath DJ-UBS Softs ETN	25.6	1,838	$90,854
140	PKN	PowerShares Global Nuclear Energy	28.3	5,152	$91,694
141	RYU	Rydex S&P Equal Weight Utilities	45.4	1,962	$92,256
142	OLO	PowerShares DB Crude Oil Long ETN	25.7	7,967	$94,401
143	BAL	iPath DJ-UBS Cotton ETN	25.5	2,590	$95,096
144	PQY	PowerShares Active AlphaQ	28.0	4,224	$96,996
145	ADRU	BLDRS Europe 100 ADR	93.9	5,290	$97,118
146	DEF	Claymore/Sabrient Defender	44.1	4,605	$98,561

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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.