First Wave of ETF Closures for 2009
The number of ETF closures for 2008 was a record high 58. In all likelihood, that record will be shattered in 2009. On Tuesday, Northern Trust announced their plan to exit the ETF business and shut down all 17 of their NETS exchanged traded funds. The last day of trading for the affected products…
ETF Deathwatch January 2009
The number of ETFs on Deathwatch continues to grow as we enter 2009. My current list contains 139 names: 97 ETFs and 42 ETNs. The list includes any ETF/ETN that is at least six months old and had an Average Daily Value Traded of less than $100,000 in December. Exchange Trade Notes are suffering from…
Final ETF Death Toll for 2008 = 58
The ETF industry was 10 years old before it had its first casualty in 2003. A total of four funds closed that year, a group of bond ETFs known as FITRs. Three years passed before the next ETF fell by the wayside with the departure of the SPDR O-Strip in 2006. At the end of 2007, the U.S. ETF industry…
New AirShares ETF (ASO) and Bye-Bye NXT
The sixth new ETF IPO of December began trading today with the introduction of the AirShares EU Carbon Allowances Fund (ASO). There are now 849 ETFs and ETNs currently listed in the U.S., but that number will drop back to 848 when the market closes today and the NYSE Arca Tech 100 ETF (NXT) halts trading. The…
135 ETFs on Deathwatch
This month’s ETF Deathwatch list surged to 135 entries versus 84 at the end of October. The list includes any ETF (or ETN) that is at least six months old and failed to have an Average Daily Value Traded (ADVT) of at least $100,000 during the month of November. The recent market turmoil led to…
ETF Deathwatch – Nov 2008
This month’s ETF Deathwatch list jumped to 84 entries versus 59 at the end of September. The list includes any ETF (or ETN) that is at least six months old and failed to have an Average Daily Value Traded (ADVT) of at least $100,000 during the month of October. Elements Canadian Dollar CAD/USD…
ETF Deathwatch – October 2008
This month’s ETF Deathwatch list contains 59 entries. Rather than limiting my list to just 20 ETFs on the verge of collapse, this time I included any ETF (or ETN) that failed to generate $100,000 of average daily Trade Value during the month of September. Trade Value may be new terminology…
ETF Death Count Surges to 45
There are 15 fewer ETFs trading today. Friday was the last day of trading for 15 HealthShares ETFs, bringing the official ETF death count to 45. Calendar year 2008 has not been kind to un-popular ETFs, with 40 of the 45 ETF deaths occurring this year. The year is only 73% over, and at the current pace,…
ETF Deathwatch
There’s been a tsunami of new ETFs coming to market this year, and we all know that tsunamis cause destruction. There have been far too many new ETFs for the market to absorb. My list of ETF IPOs, new ETFs that made their debut in the past six months, currently contains 137 names. The list would…