The number of exchange traded products on ETF Deathwatch dropped below 100 for the first time since November 2008. Whether this drop is permanent or temporary remains to be seen. I believe it to be a temporary event caused by a slowdown in new product introductions a year ago. Some 70 new funds introduced in the past six months are currently enjoying the six-month grace period which gives them a chance to develop some traction. Many of these could be added to the list as their grace periods expire.
This month’s list contains 69 ETFs and 30 ETNs for a total of 99. The $100,000 threshold in average daily trading activity is a relatively small amount and it doesn’t take much to push a product above or below the cutoff. Those escaping the list this time could very well be back next month.
WisdomTree recently announced plans to close 10 funds in March. Most of the affected products are regular members of ETF Deathwatch, but they somehow managed to escape the current list. WisdomTree was the first firm to announce closings in 2010, but I predict they won’t be the only one.
Elements Ben Graham Large Cap Value ETN (BVL) heads the ETF Deathwatch list again this month, trading on only five days in January. BVL is joined by seven other Elements brand ETNs, and a large percentage of the products from E-TRACS.
Listed below are the 99 products that failed to generate at least $100,000 in average daily value traded (ADVT) during the past month.
ETF DEATHWATCH – FEBRUARY 2010
| Rank | Ticker | Name | Age (mths) | Avg Daily Volume | Avg Daily Value Traded |
|---|---|---|---|---|---|
| 1 | BVL | Elements Ben Graham Large Cap Value ETN | 18 | 226 | $2,198 |
| 2 | UBC | E-TRACS CMCI Livestock Total Return ETN | 22 | 147 | $2,701 |
| 3 | EEH | Elements Spec LgCap US Sector Mo ETN | 30 | 453 | $3,790 |
| 4 | PTD | E-TRACS CMCI Short Platinum Exc Ret ETN | 21 | 174 | $5,472 |
| 5 | PGD | Barclays Asian&Gulf; Currency Reval. ETN | 20 | 111 | $5,547 |
| 6 | GWO | Elements CS Global Warming ETN | 22 | 921 | $6,878 |
| 7 | JVS | Javelin DJ Islamic Market International | 7 | 142 | $6,884 |
| 8 | PNXQ | PowerShares Nasdaq Next Q | 22 | 316 | $7,618 |
| 9 | PQSC | PowerShares FTSE Nasdaq Small Cap | 22 | 353 | $7,932 |
| 10 | UBG | E-TRACS CMCI Gold Total Return ETN | 22 | 279 | $8,492 |
| 11 | JFT | First Trust Enhanced 130/30 Large Cap ETN | 21 | 353 | $9,322 |
| 12 | UBD | Claymore U.S. Capital Markets Bond ETF | 24 | 232 | $11,292 |
| 13 | BHH | HOLDRS B2B Internet ETF | 121 | 26,005 | $11,966 |
| 14 | MKH | HOLDRS Merrill Lynch Market 2000+ | 115 | 268 | $13,326 |
| 15 | AYT | Barclays GEMS Asia 8 ETN | 17 | 311 | $14,468 |
| 16 | JPX | ProShares UltraShort MSCI Pacific ex-Japan | 8 | 758 | $14,750 |
| 17 | EEN | Claymore/BNY Mellon EW Euro-Pacific LDRs | 36 | 932 | $17,322 |
| 18 | BVT | Elements Ben Graham Total Mkt Value ETN | 18 | 1,732 | $18,244 |
| 19 | JYF | WisdomTree Dreyfus Japan Yen | 21 | 716 | $20,563 |
| 20 | URR | Market Vectors Double Long Euro ETN | 21 | 654 | $21,380 |
| 21 | STH | Claymore/Sabrient Stealth | 41 | 1,383 | $21,410 |
| 22 | UBN | E-TRACS CMCI Energy Total Return ETN | 22 | 1,379 | $22,226 |
| 23 | EXB | Claymore/Beacon Global Exch, Brkrs, & Asst Mgrs | 32 | 1,732 | $22,635 |
| 24 | FDD | First Trust DJ STOXX European Select Dividend | 30 | 1,874 | $26,530 |
| 25 | ADZ | PowerShares DB Agriculture Short ETN | 22 | 858 | $27,414 |
| 26 | JEM | Barclays GEMS Currency Index ETN | 24 | 626 | $28,174 |
| 27 | PQY | PowerShares Active AlphaQ | 22 | 1,237 | $28,212 |
| 28 | FAD | First Trust Multi Cap Growth AlphaDEX | 33 | 1,263 | $30,531 |
| 29 | FUE | Elements MLCX Biofuels ETN | 24 | 3,558 | $30,672 |
| 30 | GRN | iPath Global Carbon ETN | 20 | 1,295 | $31,355 |
| 31 | CRO | Claymore/Zacks Country Rotation | 31 | 2,000 | $32,026 |
| 32 | USV | E-TRACS CMCI Silver Total Return ETN | 22 | 1,311 | $34,046 |
| 33 | INR | Market Vectors Indian Rupee/USD ETN | 23 | 879 | $34,100 |
| 34 | PBTQ | PowerShares Global Biotech Portfolio | 17 | 1,489 | $35,811 |
| 35 | ULQ | Claymore U.S. Cap Mkts Micro-Trm Fxd Inc | 24 | 742 | $36,995 |
| 36 | IFEU | iShares FTSE EPRA/NAREIT Europe | 27 | 1,279 | $37,733 |
| 37 | DOD | Elements Dogs of the Dow Total Return ETN | 27 | 5,595 | $39,352 |
| 38 | TZO | iShares S&P; Target Date 2035 Index Fund | 15 | 1,316 | $39,365 |
| 39 | PMA | PowerShares Active Mega-Cap Portfolio | 22 | 1,732 | $39,715 |
| 40 | GBB | iPath GBP/USD Exchange Rate ETN | 33 | 926 | $40,319 |
| 41 | TZD | iShares S&P; Target Date 2010 Index Fund | 15 | 1,405 | $40,589 |
| 42 | EKH | HOLDRS Europe 2001 | 110 | 647 | $41,362 |
| 43 | TZL | iShares S&P; Target Date 2030 Index Fund | 15 | 1,400 | $42,375 |
| 44 | PJO | PowerShares FTSE RAFI Japan | 32 | 1,137 | $43,382 |
| 45 | RTW | Rydex Inverse 2x S&P; Technology | 20 | 2,256 | $44,108 |
| 46 | OTP | Claymore/Ocean Tomo Patent | 38 | 1,947 | $45,148 |
| 47 | PTO | PowerShares Auto Growth NFA | 21 | 4,200 | $46,292 |
| 48 | TWQ | ProShares UltraShort Russell3000 | 7 | 1,947 | $49,197 |
| 49 | IIH | HOLDRS Internet Infrastructure | 121 | 18,453 | $49,436 |
| 50 | RHS | Rydex S&P; Equal Weight Cons Staples | 39 | 1,005 | $50,183 |
| 51 | PQZ | PowerShares Active Alpha Multi-Cap | 22 | 2,968 | $50,603 |
| 52 | FVI | First Trust Value Line Equity Allocation | 38 | 3,053 | $53,096 |
| 53 | PAO | PowerShares Auto Balanced Growth NFA | 21 | 4,700 | $54,094 |
| 54 | ERO | iPath EUR/USD Exchange Rate ETN | 33 | 1,016 | $56,024 |
| 55 | IPD | SPDR S&P; International Consumer Discr | 19 | 2,305 | $57,834 |
| 56 | TDX | TDX Independence In-Target | 28 | 2,363 | $59,221 |
| 57 | PIC | PowerShares Dynamic Insurance | 52 | 4,347 | $59,379 |
| 58 | TZE | iShares S&P; Target Date 2015 Index Fund | 15 | 2,032 | $60,069 |
| 59 | REC | Rydex Inverse 2x S&P; Energy | 20 | 12,479 | $64,885 |
| 60 | PYH | PowerShares Value Line Industry Rotation | 39 | 3,574 | $65,993 |
| 61 | IRY | SPDR S&P; International Health Care | 19 | 2,205 | $66,340 |
| 62 | RWV | RevenueShares Navellier Overall A-100 | 12 | 2,142 | $66,783 |
| 63 | PWO | PowerShares Dynamic OTC | 82 | 1,732 | $69,069 |
| 64 | AGF | PowerShares DB Agriculture Long ETN | 22 | 3,947 | $69,268 |
| 65 | XRU | CurrencyShares Russian Ruble Shares | 15 | 2,116 | $70,586 |
| 66 | ADRU | BLDRS Europe 100 ADR | 88 | 3,379 | $71,162 |
| 67 | TZI | iShares S&P; Target Date 2025 Index Fund | 15 | 2,363 | $71,361 |
| 68 | IPU | SPDR S&P; International Utilities | 19 | 3,147 | $71,553 |
| 69 | OTR | Claymore/Ocean Tomo Growth | 35 | 2,989 | $71,654 |
| 70 | TZG | iShares S&P; Target Date 2020 Index Fund | 15 | 2,489 | $74,893 |
| 71 | JPP | SPDR Russell/Nomura PRIME Japan | 39 | 1,963 | $75,767 |
| 72 | BSC | Elements Ben Graham Small Cap Value ETN | 18 | 6,953 | $75,905 |
| 73 | AGA | PowerShares DB Agriculture Dbl Short ETN | 22 | 1,963 | $76,019 |
| 74 | GXG | Global X/InterBolsa FTSE Colombia 20 ETF | 12 | 2,616 | $77,137 |
| 75 | MES | Market Vectors Gulf States | 19 | 4,105 | $78,640 |
| 76 | RTL | iShares FTSE NAREIT Retail Capped | 33 | 3,789 | $79,217 |
| 77 | SJL | ProShares UltraShort Russell Midcap Value | 36 | 3,068 | $80,678 |
| 78 | UBM | E-TRACS CMCI Industrial Metals TR ETN | 22 | 3,821 | $81,696 |
| 79 | BWV | iPath CBOE S&P; 500 BuyWrite Index ETN | 33 | 1,826 | $81,767 |
| 80 | PZJ | PowerShares Zacks Small Cap | 48 | 4,647 | $82,284 |
| 81 | WMW | Elements Mrngstr Wide Moat Focus ETN | 28 | 7,626 | $82,602 |
| 82 | PCA | PowerShares Auto Balanced NFA | 21 | 6,942 | $83,096 |
| 83 | WMH | HOLDRS Wireless | 113 | 1,837 | $84,525 |
| 84 | TZV | iShares S&P; Target Date 2040 Index Fund | 15 | 2,847 | $86,190 |
| 85 | IPF | SPDR S&P; International Financial | 19 | 4,242 | $86,197 |
| 86 | DPU | PowerShares DB Commodity Long ETN | 21 | 5,621 | $87,197 |
| 87 | DEF | Claymore/Sabrient Defender | 38 | 4,279 | $89,157 |
| 88 | PLK | PowerShares Active Low Duration | 22 | 3,532 | $89,484 |
| 89 | DPN | WisdomTree Intl Consumer Staples | 40 | 3,579 | $90,060 |
| 90 | MBG | SPDR Barclays Mortgage Backed Bond ETF | 12 | 3,432 | $90,816 |
| 91 | UWC | ProShares Ultra Russell3000 | 7 | 1,537 | $92,608 |
| 92 | XRO | Claymore/Zacks Sector Rotation | 41 | 4,604 | $95,113 |
| 93 | IRO | Claymore/Zacks Dividend Rotation | 28 | 5,137 | $95,796 |
| 94 | QABA | First Trust NASDAQ ABA Community Bank | 7 | 4,168 | $96,937 |
| 95 | GVT | Grail American Beacon Large Cap Value | 9 | 3,158 | $97,059 |
| 96 | BDG | PowerShares DB Base Metals Lng ETN | 20 | 4,332 | $97,266 |
| 97 | JJT | iPath DJ-UBS Tin ETN | 20 | 2,337 | $97,554 |
| 98 | RGI | Rydex S&P; Equal Weight Industrials | 39 | 2,224 | $97,567 |
| 99 | IPS | SPDR S&P; International Consumer Staples | 19 | 3,437 | $98,595 |
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.