Exchange traded product launches numbered 158 in 2013, a quantity not very impressive given that six of the past seven years produced higher counts. Additionally, closures totaled 67 for the year, leaving a net increase of only 91. This was on a base of 1,445 active listings at the end of 2012, which results in just a 6.3% increase to 1,536 at the end of 2013. However, a truer indication of the health of the industry is assets under management, and they increased by a hefty 25.2% to $1.7 trillion.
We separate ETPs into nine major groups, and based on these divisions, bond ETFs were the most popular type of product introductions in 2013. The 39 new bond funds accounted for nearly a quarter (24.7%) of the year’s 158 launches. This might seem illogical given the fact that bonds struggled in 2013, but the asset class was under-represented in prior years. Funds targeting global and international equities were the next most popular group with 37 introductions. This is the second year in a row with no new ETPs targeting volatility.
Quantities by broad categories for the 158 launches of 2013:
- 39 Bond
- 37 Global & International
- 34 Style & Strategy
- 24 Sector
- 10 Leveraged
- 6 Commodity
- 5 Inverse
- 3 Currency
- 0 Volatility
Looking at the data from a different perspective helps identify other industry trends. The most notable new trend in 2013 was the 25 new ETPs employing some type of hedging, as opposed to being long-only or short-only funds. Hedging techniques varied widely with seven bond funds hedging interest rates by shorting Treasury securities, seven international funds hedging currency exposure, six using covered calls to mitigate drawdowns and improve income, and others hedging with volatility and more traditional long/short exposures.
New launches with unique features:
- 25 Hedged
- 19 Actively Managed
- 21 Dividend (including MLP ETPs)
- 5 MLP
- 2 Fund-of-Funds
- 2 C-Corporations
Nineteen ETFs fitting the actively managed description were introduced in 2013. This is a significant increase for the category, representing 26.8% of the 71 actively managed ETFs currently listed. Dividend funds are still quite popular, with 21 new ETPs in that category (including five MLP products). Only two of the launches were ETFs that invest in other ETFs, or what are more commonly known as fund-of-funds. Two of the new products are not structured as traditional mutual fund pass-through vehicles. Instead, they are C-Corporations, which means the funds themselves are liable for federal and state income taxes, which can dramatically impact their performance.
BlackRock was again the most prolific issuer, bringing out 21 new products under the iShares brand. Other notable sponsors with double-digit launches include WisdomTree with 15 and Fidelity with 10.
The table below lists all 158 new products sorted by name (the interactive table has other sort options). The IPO date is the first day the product was listed and available for purchase. The “first trade” may be a later date in some cases, as a few products do not have any first-day volume. Additionally, the “inception date” used by many ETFs and data providers is a meaningless date in our opinion as it is often a day or more before it actually becomes listed and available for purchase.
NEW ETFS AND ETNS IN 2013
# | Ticker | Name | Category | IPO Date | Notes |
---|---|---|---|---|---|
1 | HDGI | AdvisorShares Athena International Bear ETF | Inverse | 07/19/2013 | 1 |
2 | MINC | AdvisorShares Newfleet Multi-Sector Income | Bond | 03/20/2013 | 1 |
3 | ENFR | Alerian Energy Infrastructure ETF | Sector | 11/01/2013 | |
4 | IDOG | ALPS International Sector Dividend Dogs | Global/Intl | 06/28/2013 | 5 |
5 | HVPW | ALPS U.S. Equity High Volatility Put Write | Style/Strat | 02/28/2013 | 4 |
6 | FIGY | Barclays ETN+ FI Enh Global High Yield ETN | Leveraged | 05/22/2013 | |
7 | FEEU | Barclays ETN+ FI Enhanced Europe 50 ETN | Leveraged | 05/23/2013 | |
8 | ATMP | Barclays ETN+ Select MLP ETN | Sector | 03/13/2013 | 5 |
9 | BFOR | Barrons 400 ETF | Style/Strat | 06/04/2013 | |
10 | FYLD | Cambria Foreign Shareholder Yield ETF | Global/Intl | 12/03/2013 | 5 |
11 | SYLD | Cambria Shareholder Yield ETF | Style/Strat | 05/14/2013 | 1,5 |
12 | CSCB | Credit Suisse Commodity Benchmark ETN | Commodity | 06/12/2013 | |
13 | CSCR | Credit Suisse Commodity Rotation ETN | Commodity | 06/12/2013 | |
14 | FIBG | Credit Suisse FI Enhanced Big Cap Gr ETN | Leveraged | 10/18/2013 | |
15 | FIEU | Credit Suisse FI Enhanced Europe 50 ETN | Inverse | 09/06/2013 | |
16 | FIEG | Credit Suisse FI Enhanced Global HY ETN | Leveraged | 10/08/2013 | |
17 | GLDI | Credit Suisse Gold Shares Covered Call ETN | Commodity | 01/29/2013 | 4 |
18 | SLVO | Credit Suisse Silver Shares Covered Call ETN | Commodity | 04/17/2013 | 4 |
19 | MLPC | C-Tracks Miller/Howard MLP Fundmntl ETN | Sector | 09/26/2013 | 5 |
20 | FXSG | CurrencyShares Singapore Dollar Trust | Currency | 02/13/2013 | |
21 | ASHR | db X-trackers Harvest CSI 300 China A-Shrs | Global/Intl | 11/06/2013 | |
22 | DBAP | db X-Trackers MSCI AC AP ex Japan Hedged | Global/Intl | 10/01/2013 | 4 |
23 | DBEU | db X-Trackers MSCI Europe Hedged Equity | Global/Intl | 10/01/2013 | 4 |
24 | DBUK | db X-Trackers MSCI UK Hedged Equity | Global/Intl | 10/01/2013 | 4 |
25 | RVNU | db X-trackers Muni Infrastructure Revenue Bd | Bond | 06/04/2013 | |
26 | UTLT | db X-trackers Regulated Utilities Fund | Sector | 06/04/2013 | |
27 | BRZS | Direxion Daily Brazil Bear 3x Shares | Inverse | 05/01/2013 | |
28 | BRZU | Direxion Daily Brazil Bull 3X Shares | Leveraged | 04/10/2013 | |
29 | JPNS | Direxion Daily Japan Bear 3x Shares | Leveraged | 06/26/2013 | |
30 | JPNL | Direxion Daily Japan Bull 3x Shares | Inverse | 06/26/2013 | |
31 | JDST | Direxion Daily Junior Gold Miners Bear 3x | Inverse | 10/03/2013 | |
32 | JNUG | Direxion Daily Junior Gold Miners Bull 3x | Leveraged | 10/03/2013 | |
33 | KORZ | Direxion Daily South Korea Bear 3x Shares | Inverse | 05/01/2013 | |
34 | KORU | Direxion Daily South Korea Bull 3X Shares | Leveraged | 04/10/2013 | |
35 | EMHD | EGShares EM Dividend High Income ETF | Global/Intl | 08/13/2013 | 5 |
36 | EMDG | EGShares Emerging Markets Dividend Growth | Global/Intl | 07/01/2013 | 5 |
37 | DVHI | ETRACS Diversified High Income ETN | Style/Strat | 09/19/2013 | |
38 | CEFL | ETRACS Monthly Pay 2xLeveraged CEF ETN | Leveraged | 12/11/2013 | |
39 | DVHL | ETRACS Mth Pay 2x Diversified High In ETN | Leveraged | 11/13/2013 | |
40 | FDIS | Fidelity MSCI Consumer Discretionary | Sector | 10/24/2013 | |
41 | FSTA | Fidelity MSCI Consumer Staples | Sector | 10/24/2013 | |
42 | FENY | Fidelity MSCI Energy | Sector | 10/24/2013 | |
43 | FNCL | Fidelity MSCI Financials | Sector | 10/24/2013 | |
44 | FHLC | Fidelity MSCI Health Care | Sector | 10/24/2013 | |
45 | FIDU | Fidelity MSCI Industrials | Sector | 10/24/2013 | |
46 | FTEC | Fidelity MSCI Information Technology | Sector | 10/24/2013 | |
47 | FMAT | Fidelity MSCI Materials | Sector | 10/24/2013 | |
48 | FCOM | Fidelity MSCI Telecommunication Services | Sector | 10/24/2013 | |
49 | FUTY | Fidelity MSCI Utilities | Sector | 10/24/2013 | |
50 | FTGC | First Trust Global Tactical Commodity Strat | Commodity | 10/23/2013 | 1 |
51 | HYLS | First Trust High Yield Long/Short | Style/Strat | 02/27/2013 | 1,4 |
52 | YDIV | First Trust Intl Multi-Asset Diversified Income | Global/Intl | 08/23/2013 | |
53 | FMF | First Trust Morningstar Managed Futures Str | Style/Strat | 08/02/2013 | 1,4 |
54 | FPE | First Trust Preferred Securities and Income | Style/Strat | 02/12/2013 | 1 |
55 | FTSL | First Trust Senior Loan ETF | Bond | 05/02/2013 | 1 |
56 | GQRE | FlexShares Global Quality Real Estate | Sector | 11/06/2013 | |
57 | IQDF | FlexShares Intl Quality Dividend | Global/Intl | 04/16/2013 | 5 |
58 | IQDE | FlexShares Intl Quality Dividend Defensive | Global/Intl | 04/16/2013 | 5 |
59 | IQDY | FlexShares Intl Quality Dividend Dynamic | Global/Intl | 04/16/2013 | 5 |
60 | NFRA | FlexShares STOXX Global Broad Infrastructure | Global/Intl | 10/09/2013 | |
61 | FLAG | Forensic Accounting ETF | Style/Strat | 01/31/2013 | |
62 | FTSD | Franklin Short Duration U.S. Government ETF | Bond | 11/05/2013 | 1 |
63 | AZIA | Global X Central Asia & Mongolia Index ETF | Global/Intl | 04/03/2013 | |
64 | PGAL | Global X FTSE Portugal 20 ETF | Global/Intl | 11/13/2013 | |
65 | MLPJ | Global X Junior MLP ETF (C-corp) | Sector | 01/15/2013 | 3,5 |
66 | MLPX | Global X MLP & Energy Infrastructure ETF | Sector | 08/07/2013 | |
67 | EMFM | Global X Next Emerging & Frontier ETF | Global/Intl | 11/07/2013 | |
68 | NGE | Global X Nigeria Index ETF | Global/Intl | 04/03/2013 | |
69 | DIV | Global X SuperDividend U.S. ETF | Style/Strat | 03/12/2013 | 5 |
70 | BSJJ | Guggenheim BulletShares 2019 HY Bond | Bond | 09/24/2013 | |
71 | BSJK | Guggenheim BulletShares 2020 HY Bond | Bond | 09/24/2013 | |
72 | BSCL | Guggenheim BulletShares 2021 Corp Bond | Bond | 07/17/2013 | |
73 | BSCM | Guggenheim BulletShares 2022 Corp Bond | Bond | 07/17/2013 | |
74 | HSPX | Horizons S&P 500 Covered Call | Style/Strat | 06/24/2013 | 4 |
75 | HFIN | Horizons S&P Financial Sel Sec Covered Call | Sector | 11/14/2013 | 4 |
76 | IMLP | iPath S&P MLP ETN | Sector | 01/04/2013 | 5 |
77 | SHYG | iShares 0-5 Year High Yield Corporate Bond | Bond | 10/17/2013 | |
78 | SLQD | iShares 0-5 Year Investment Grade Corp Bond | Bond | 10/17/2013 | |
79 | MUAG | iShares 2018 AMT-Free Muni Term | Bond | 03/21/2013 | |
80 | CMDT | iShares Dow Jones-UBS Roll Select Commdty | Commodity | 08/09/2013 | |
81 | IELG | iShares Enhanced U.S. Large-Cap ETF | Style/Strat | 04/18/2013 | 1 |
82 | IESM | iShares Enhanced U.S. Small-Cap ETF | Style/Strat | 04/18/2013 | 1 |
83 | ICSH | iShares Liquidity Income ETF | Bond | 12/13/2013 | 1 |
84 | ICOL | iShares MSCI Colombia Capped | Global/Intl | 06/20/2013 | |
85 | MTUM | iShares MSCI USA Momentum Factor ETF | Style/Strat | 04/18/2013 | |
86 | QUAL | iShares MSCI USA Quality Factor ETF | Style/Strat | 07/18/2013 | |
87 | SIZE | iShares MSCI USA Size Factor ETF | Style/Strat | 04/18/2013 | |
88 | VLUE | iShares MSCI USA Value Factor ETF | Style/Strat | 04/18/2013 | |
89 | NEAR | iShares Short Maturity Bond ETF | Bond | 09/26/2013 | 1 |
90 | IBCB | iSharesBond 2016 Corp ex-Financials Term | Bond | 04/19/2013 | |
91 | IBDA | iSharesBond 2016 Corporate Term ETF | Bond | 07/10/2013 | |
92 | IBCC | iSharesBond 2018 Corp ex-Financials Term | Bond | 04/19/2013 | |
93 | IBDB | iSharesBond 2018 Corporate Term ETF | Bond | 07/10/2013 | |
94 | IBCD | iSharesBond 2020 Corp ex-Financials Term | Bond | 04/19/2013 | |
95 | IBDC | iSharesBond 2020 Corporate Term ETF | Bond | 07/10/2013 | |
96 | IBCE | iSharesBond 2023 Corp ex-Financials Term | Bond | 04/19/2013 | |
97 | IBDD | iSharesBond 2023 Corporate Term ETF | Bond | 07/10/2013 | |
98 | KFYP | KraneShares CSI China Five Year Plan ETF | Global/Intl | 07/23/2013 | |
99 | KWEB | KraneShares CSI China Internet ETF | Sector | 08/01/2013 | |
100 | BIZD | Market Vectors BDC Income ETF | Sector | 02/12/2013 | 5 |
101 | ISRA | Market Vectors Israel | Global/Intl | 06/26/2013 | |
102 | THHY | Market Vectors Treas-Hedged High Yield Bond | Bond | 03/22/2013 | 4 |
103 | NASH | Nashville Area ETF | Style/Strat | 08/01/2013 | |
104 | FORX | PIMCO Foreign Currency Strategy | Currency | 02/12/2013 | 1,4 |
105 | CHNA | PowerShares China A-Share | Global/Intl | 10/10/2013 | 1 |
106 | PFEM | PowerShares Fundmntl Emg Mkts Local Debt | Bond | 05/09/2013 | |
107 | PGHY | PowerShares Global Short Term High Yield Bd | Bond | 06/20/2013 | |
108 | XMLV | PowerShares S&P MidCap Low Volatility | Style/Strat | 02/15/2013 | |
109 | XSLV | PowerShares S&P SmallCap Low Volatility | Style/Strat | 02/15/2013 | |
110 | PEX | ProShares Global Listed Private Equity | Global/Intl | 02/28/2013 | |
111 | HYHG | ProShares High Yield Interest Rate Hedged | Bond | 05/23/2013 | 4 |
112 | IGHG | ProShares Investment Grade-Int Rate Hedged | Bond | 11/07/2013 | 4 |
113 | NOBL | ProShares S&P 500 Aristocrats | Style/Strat | 10/10/2013 | 5 |
114 | EMSH | ProShares Short Term USD Emg Mrkts Bond | Bond | 11/21/2013 | |
115 | QYLD | Recon Capital Nasdaq-100 Covered Call ETF | Style/Strat | 12/12/2013 | 4 |
116 | IPO | Renaissance IPO ETF | Style/Strat | 10/16/2013 | |
117 | RDIV | RevenueShares Ultra Dividend Fund | Style/Strat | 10/01/2013 | 5 |
118 | RIGS | RiverFront Strategic Income Fund | Bond | 10/09/2013 | 1 |
119 | ROBO | Robo-Stox Global Robotics and Automation | Sector | 10/22/2013 | |
120 | FNDE | Schwab Fundamental Emrg Mkts Large Co | Global/Intl | 08/13/2013 | |
121 | FNDF | Schwab Fundamental International Large Co | Global/Intl | 08/13/2013 | |
122 | FNDC | Schwab Fundamental International Small Co | Global/Intl | 08/13/2013 | |
123 | FNDB | Schwab Fundamental U.S. Broad Market | Style/Strat | 08/13/2013 | |
124 | FNDX | Schwab Fundamental U.S. Large Company | Style/Strat | 08/13/2013 | |
125 | FNDA | Schwab Fundamental U.S. Small Company | Style/Strat | 08/13/2013 | |
126 | TIPX | SPDR Barclays 1-10 Year TIPS ETF | Bond | 05/30/2013 | |
127 | SRLN | SPDR Blackstone/GSO Senior Loan ETF | Bond | 04/04/2013 | 1 |
128 | EMBB | SPDR MSCI EM Beyond BRIC ETF | Global/Intl | 12/05/2013 | |
129 | LGLV | SPDR Russell 1000 Low Volatility | Style/Strat | 02/21/2013 | |
130 | TWOK | SPDR Russell 2000 ETF | Style/Strat | 07/09/2013 | |
131 | SMLV | SPDR Russell 2000 Low Volatility | Style/Strat | 02/21/2013 | |
132 | WDIV | SPDR S&P Global Dividend ETF | Global/Intl | 05/30/2013 | 5 |
133 | ULST | SPDR SSgA Ultra Short Term Bond | Bond | 10/10/2013 | 1 |
134 | VWOB | Vanguard Emerging Markets Govt Bond | Bond | 06/04/2013 | |
135 | BNDX | Vanguard Total International Bond | Bond | 06/04/2013 | |
136 | ASDR | VelocityShares Emerging Asia DR ETF | Global/Intl | 04/08/2013 | |
137 | EMDR | VelocityShares Emerging Markets DR ETF | Global/Intl | 04/08/2013 | |
138 | ERW | VelocityShares Equal Risk Weighted LargeCap | Style/Strat | 07/30/2013 | |
139 | RUDR | VelocityShares Russia DR ETF | Global/Intl | 04/08/2013 | |
140 | TRSK | VelocityShares Tail Risk Hedged Large Cap | Style/Strat | 06/24/2013 | 2,4 |
141 | SPXH | VelocityShares Volatility Hedged Large Cap | Style/Strat | 06/24/2013 | 2,4 |
142 | VIDI | Vident International Equity | Global/Intl | 10/30/2013 | |
143 | AGND | WisdomTree Barclays US Agg Bond Neg Dur | Bond | 12/18/2013 | 4 |
144 | AGZD | WisdomTree Barclays US Agg Bond Zero Dur | Bond | 12/18/2013 | 4 |
145 | USDU | WisdomTree Bloomberg U.S. Dollar Bullish | Currency | 12/18/2013 | |
146 | HYND | WisdomTree BofA ML HY Bond Negative Dur | Bond | 12/18/2013 | 4 |
147 | HYZD | WisdomTree BofA ML HY Bond Zero Duration | Bond | 12/18/2013 | 4 |
148 | EMCG | WisdomTree Emrg Mkts Consumer Growth | Sector | 09/27/2013 | |
149 | DGRE | WisdomTree Emrg Mkts Dividend Growth | Global/Intl | 08/01/2013 | 5 |
150 | DXGE | WisdomTree Germany Hedged Equity | Global/Intl | 10/17/2013 | 4 |
151 | GLCB | WisdomTree Global Corporate Bond | Bond | 01/31/2013 | 1 |
152 | DXJS | WisdomTree Japan Hedged SmallCap Equity | Global/Intl | 06/28/2013 | 4 |
153 | JGBB | WisdomTree Japan Interest Rate Strategy | Bond | 12/18/2013 | |
154 | DXKW | WisdomTree Korea Hedged Equity | Global/Intl | 11/07/2013 | 4 |
155 | DGRW | WisdomTree U.S. Dividend Growth | Style/Strat | 05/22/2013 | 5 |
156 | DGRS | WisdomTree U.S. SmallCap Dividend Growth | Style/Strat | 07/25/2013 | 5 |
157 | DXPS | WisdomTree United Kingdom Hedged Equity | Global/Intl | 06/28/2013 | 4 |
158 | YMLI | Yorkville High Income Infra. MLP ETF (C-corp) | Sector | 02/12/2013 | 3,5 |
Notes: 1) actively managed, 2) Fund-of-Funds, 3) structured as a C-Corporation, 4) employs hedging, 5) dividend focus. All exchange traded notes are identified with “ETN” as part of their name description.
Disclosure covering writer, editor, publisher, and affiliates: No positions in any of the securities mentioned or listed in the table. 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.