The quantity of exchange-traded products (ETPs) on ETF Deathwatch increased to 143 (106 ETFs and 37 ETNs) as we enter 2011. This is the first list based on the new ETF Deathwatch criteria, which is intended to help stabilize the constituents from month to month. Even though we now exclude products with assets under management (AUM) exceeding $25 million, other struggling products replaced the half-dozen or so funds that took advantage of that exclusion.

We also changed the format of our listings. The list is no longer “ranked” by ascending dollar volume. Instead, it is sorted by product name and includes three data fields: 1) the fund’s age in months, 2) the assets under management (AUM) in millions of dollars, and 3) the average daily dollar volume over the past three months.

The three sponsors with the largest number of products on the list are ProShares with 21, Invesco PowerShares 19 (20 if you include the BLDRS brand), and iShares 18. The PowerShares quantity would have been much higher, but it closed and liquidated 10 funds in December. All three sponsors have a large number of listed products, so while they may have many struggling funds, these funds do not represent a majority of their product lines.

That’s not the case for other sponsors. The five FaithShares ETFs represent 100% of its offerings and have a combined AUM of less than $12 million. FaithShares will need more than faith to survive in this market.

Grail is another sponsor with 100% of its products on the list, but it is taking action instead of relying on faith. Realizing its Deathwatch predicament, last week (1/5/11) Grail Advisors filed a prospectus amendment stating it “has entered into a letter of intent concerning a transaction involving its ownership interests in order to enable it to continue its operations”. The filing goes on to say if Grail Advisors “is unsuccessful in its efforts to consummate a transaction or to recapitalize, all of the ETFs may be liquidated.”

The prospective buyer of Grail was not identified but is believed to be a well-known name that is seeking entry into the actively-managed ETF space. The Grail ETFs may not have much in assets, but the company has something probably more valuable: exemptive relief from the SEC for actively-managed ETFs and the expertise of bringing such products to market.

The eight ETNs from ELEMENTS on ETF Deathwatch are perpetual members of the list. Although many of them are now more than three years old, most ETF investors probably couldn’t identify the company behind these products or the note issuer. This represents a serious marketing flaw.

After Guggenheim consummated its purchase of Claymore, it rebranded most of the Claymore product line. Three of the products kept the Claymore name, and all three are on ETF Deathwatch. Guggenheim also owns the Wilshire ETFs, but for some reason, neither Claymore nor Guggenheim included their moniker as part of the funds’ names. Therefore, Guggenheim has 10 products on the list spread across three different brand names.

Listed below are the 143 products on ETF Deathwatch for January 2011 (sorted by name).

ETF DEATHWATCH FOR JANUARY 2011

# Ticker Sym ETF Name Age (mths) AUM (millions) 3-mth Avg Daily $ Volume
1 PGD Barclays Asian&Gulf; Currency Reval. ETN 30.9 $4.10 $7,085
2 BXDD Barclays ETN+ S&P; 500 3x Short D 2009 ETN 13.6 $4.60 $519,065
3 JEM Barclays GEMS Currency Index ETN 35.5 $4.10 $37,241
4 ADRU BLDRS Europe 100 ADR 99 $22.90 $62,262
5 GCE Claymore CEF Index GS Connect ETN 37.2 $3.50 $46,707
6 ULQ Claymore U.S. Cap Mkts Micro-Trm Fxd Inc 35.1 $5.00 $19,517
7 UBD Claymore U.S. Capital Markets Bond 35.1 $10.40 $36,375
8 XRU CurrencyShares Russian Ruble Shares 26 $6.50 $30,377
9 BRIS Direxion Daily BRIC Bear 2x 9.8 $2.70 $22,248
10 BRIL Direxion Daily BRIC Bull 2x 9.8 $4.50 $174,221
11 INDZ Direxion Daily India Bear 2x 9.8 $2.40 $115,669
12 LHB Direxion Daily Latin America Bear 3x 13.1 $3.30 $530,163
13 EEO EGS DJ Emerging Markets Energy Titans 19.6 $13.50 $77,474
14 EFN EGS DJ Emerging Markets Financials Titans 15.7 $12.30 $100,409
15 BVL ELEMENTS Ben Graham Large Cap Value ETN 29 $0.60 $7,512
16 BSC ELEMENTS Ben Graham Small Cap Value ETN 28.9 $1.90 $10,922
17 BVT ELEMENTS Ben Graham Total Mkt Value ETN 29 $0.90 $2,894
18 GWO ELEMENTS CS Global Warming ETN 33.4 $3.50 $7,306
19 DOD ELEMENTS Dogs of the Dow Total Return ETN 38.3 $2.50 $30,494
20 FUE ELEMENTS MLCX Biofuels ETN 35.3 $2.70 $32,162
21 WMW ELEMENTS Morningstar Wide Moat Focus ETN 39 $7.50 $37,091
22 EEH ELEMENTS Spctrm LgCap US Sector Mo ETN 41.6 $1.10 $2,035
23 FZB FaithShares Baptist Values Fund 12.7 $1.40 $3,291
24 FCV FaithShares Catholic Values Fund 12.9 $3.00 $23,197
25 FOC FaithShares Christian Values Fund 12.9 $2.90 $18,978
26 FKL FaithShares Lutheran Values Fund 12.7 $1.40 $3,361
27 FMV FaithShares Methodist Values Fund 12.9 $3.00 $3,292
28 FVI First Trust Value Line Equity Allocation 49.6 $7.10 $68,242
29 CHIE Global X China Energy ETF 12.7 $7.10 $67,471
30 CHIB Global X China Technology ETF 12.9 $4.90 $61,222
31 GVT Grail American Beacon Large Cap Value 20.2 $1.60 $11,936
32 GMTB Grail McDonnell Core Taxable Bond ETF 11.2 $2.50 $9,500
33 GMMB Grail McDonnell Intermediate Municipal Bnd 11.2 $2.50 $7,648
34 RWG Grail RP Focused Large Cap Growth ETF 15.2 $9.30 $27,787
35 RPX Grail RP Growth ETF 15.2 $4.70 $14,069
36 EEN Guggenheim EW Euro-Pacific LDRs ETF 46.7 $3.00 $24,355
37 XGC Guggenheim International Small Cap LDRs 45.6 $8.40 $101,903
38 OTR Guggenheim Ocean Tomo Growth Index ETF 45.6 $5.50 $132,644
39 OTP Guggenheim Ocean Tomo Patent ETF 49.2 $19.10 $35,619
40 BHH HOLDRS B2B Internet ETF 132.1 $6.80 $77,922
41 EKH HOLDRS Europe 2001 121.1 $4.70 $13,642
42 MKH HOLDRS Merrill Lynch Market 2000+ 125.8 $12.60 $11,804
43 WMH HOLDRS Wireless 123.8 $15.50 $14,787
44 LD iPath DJ-UBS Lead ETN 30.7 $6.70 $122,515
45 ERO iPath EUR/USD Exchange Rate ETN 44.4 $6.40 $50,241
46 GBB iPath GBP/USD Exchange Rate ETN 44.4 $6.80 $146,523
47 GRN iPath Global Carbon ETN 30.7 $3.80 $19,551
48 JYN iPath JPY/USD Exchange Rate ETN 44.4 $9.00 $103,312
49 TWON IQ Taiwan Small Cap 7.5 $3.00 $74,783
50 MUAE iShares 2016 S&P; AMT-Free Muni Series 12 $15.20 $59,035
51 IFEU iShares FTSE EPRA/NAREIT Europe 37.9 $9.00 $50,584
52 AXFN iShares MSCI ACWI ex US Financials 11.4 $2.40 $14,964
53 EMFN iShares MSCI Emerging Markets Financials 11.4 $13.00 $249,323
54 EMMT iShares MSCI Emerging Markets Materials 11.4 $9.90 $77,975
55 FEFN iShares MSCI Far East Financials Sector 11.4 $2.70 $11,334
56 EIRL iShares MSCI Ireland Cap. Investable Mkt 7.9 $3.00 $32,410
57 EUSA iShares MSCI USA Index Fund 7.9 $1.30 $51,046
58 IWL iShares Russell Top 200 Index Fund 15.4 $9.90 $102,353
59 NUCL iShares S&P; Global Nuclear Energy 30.6 $17.30 $93,846
60 TZD iShares S&P; Target Date 2010 Index Fund 26.2 $4.60 $17,366
61 TZE iShares S&P; Target Date 2015 Index Fund 26.2 $9.60 $28,795
62 TZG iShares S&P; Target Date 2020 Index Fund 26.2 $11.40 $69,063
63 TZI iShares S&P; Target Date 2025 Index Fund 26.2 $11.60 $49,209
64 TZL iShares S&P; Target Date 2030 Index Fund 26.2 $10.00 $21,050
65 TZO iShares S&P; Target Date 2035 Index Fund 26.2 $5.00 $20,118
66 TZV iShares S&P; Target Date 2040 Index Fund 26.2 $10.20 $118,765
67 TGR iShares S&P; Target Date Retirement Inc. 26.2 $4.50 $116,178
68 CRBA Jefferies|TR/J CRB Global Agriculture Equity 14.3 $5.20 $76,454
69 CRBI Jefferies|TR/J CRB Global Ind Metals Equity 14.3 $4.90 $44,049
70 JCO JETS Contrarian Opportunities 8.9 $12.00 $132,086
71 JFT KEYnotes FT Enhanced 130/30 Large Cap ETN 31.8 $3.60 $45,653
72 URR Market Vectors Double Long Euro ETN 32.3 $2.40 $47,995
73 EGPT Market Vectors Egypt Index ETF 10.5 $10.90 $134,796
74 MES Market Vectors Gulf States 29.7 $22.10 $131,294
75 INR Market Vectors Indian Rupee/USD ETN 33.9 $5.10 $107,094
76 NASI Pax MSCI North America ESG Index 7.5 $2.80 $26,662
77 PQZ PowerShares Active Alpha Multi-Cap 33.1 $2.80 $52,338
78 PLK PowerShares Active Low Duration 33 $10.10 $125,104
79 PMA PowerShares Active Mega-Cap Portfolio 33 $3.70 $9,287
80 LBND PowerShares DB 3x Long 25+ Treas ETN 6.2 $2.10 $11,752
81 AGA PowerShares DB Agriculture Dbl Short ETN 33 $2.60 $199,905
82 AGF PowerShares DB Agriculture Long ETN 33 $4.60 $73,661
83 ADZ PowerShares DB Agriculture Short ETN 33 $2.30 $71,070
84 BDG PowerShares DB Base Metals Long ETN 30.9 $1.60 $34,981
85 BOS PowerShares DB Base Metals Short ETN 30.9 $5.40 $47,573
86 DEE PowerShares DB Commodity Dbl Short ETN 32.6 $2.20 $117,630
87 DPU PowerShares DB Commodity Long ETN 32.6 $6.70 $15,429
88 DDP PowerShares DB Commodity Short ETN 32.6 $1.40 $34,017
89 PFI PowerShares Dynamic Financials 51.4 $19.00 $68,822
90 PIC PowerShares Dynamic Insurance 63.1 $18.80 $71,699
91 PJM PowerShares Dynamic Small Cap 49.7 $17.80 $89,144
92 PSTL PowerShares Global Steel Portfolio 27.7 $5.90 $27,980
93 PTO PowerShares Ibbotson Alternative Completion 31.8 $9.40 $52,975
94 PYH PowerShares Morningstar StockInvestor Core 49.7 $18.00 $70,637
95 XLBS PowerShares S&P; SmallCap Materials 8.9 $5.70 $76,677
96 SBM ProShares Short Basic Materials 9.6 $3.80 $72,934
97 EFO ProShares Ultra MSCI EAFE 19.2 $8.50 $181,264
98 UPV ProShares Ultra MSCI Europe 8.2 $3.50 $93,355
99 UMX ProShares Ultra MSCI Mexico Investable Mkt 8.2 $2.10 $17,551
100 UXJ ProShares Ultra MSCI Pacific Ex-Japan 8.2 $3.70 $72,435
101 BIB ProShares Ultra Nasdaq Biotechnology 8.9 $6.00 $76,461
102 UVU ProShares Ultra Russell Midcap Value 46.9 $8.10 $111,428
103 UWC ProShares Ultra Russell3000 18.2 $7.30 $80,524
104 SMDD ProShares UltraPro Short S&P; MidCap400 10.8 $2.80 $941,851
105 CMD ProShares UltraShort DJ-UBS Commodity 25.5 $1.40 $76,493
106 RXD ProShares UltraShort Healthcare 47.7 $4.40 $94,247
107 SMK ProShares UltraShort MSCI Mexico 18.7 $2.60 $90,119
108 JPX ProShares UltraShort MSCI Pacific ex-Japan 18.7 $2.70 $154,462
109 BIS ProShares UltraShort Nasdaq Biotechnology 8.9 $2.60 $95,639
110 SFK ProShares UltraShort Russell 1000 Growth 46.9 $5.20 $90,931
111 SJF ProShares UltraShort Russell 1000 Value 46.9 $2.60 $113,754
112 SDK ProShares UltraShort Russell Midcap Growth 46.9 $3.20 $203,133
113 SJL ProShares UltraShort Russell Midcap Value 46.9 $2.20 $133,583
114 TWQ ProShares UltraShort Russell3000 18.2 $1.60 $13,296
115 TLL ProShares UltraShort Telecom 33.6 $2.00 $55,982
116 SDP ProShares UltraShort Utilities 47.7 $6.20 $79,895
117 RWV RevenueShares Navellier Overall A-100 23.6 $9.60 $205,937
118 RHS Rydex S&P; Equal Weight Cons Staples 50.5 $14.30 $90,226
119 IBND SPDR Barclays International Corp Bond 7.5 $6.40 $140,275
120 KME SPDR KBW Mortgage Finance ETF 20.3 $2.10 $7,656
121 VRD SPDR Nuveen S&P; VRDO Municipal Bond ETF 15.4 $9.00 $64,416
122 JPP SPDR Russell/Nomura PRIME Japan 50.3 $8.30 $91,809
123 IPW SPDR S&P; International Energy 29.6 $15.00 $103,754
124 IPF SPDR S&P; International Financial 29.7 $5.90 $64,144
125 IRY SPDR S&P; International Health Care 29.6 $12.10 $64,779
126 IPU SPDR S&P; International Utilities 29.6 $8.40 $43,489
127 TDD TDX Independence 2010 39.6 $14.10 $45,089
128 TDX TDX Independence In-Target 39.6 $15.60 $55,827
129 UBN UBS E-TRACS CMCI Energy TR ETN 33.4 $4.40 $2,837
130 FUD UBS E-TRACS CMCI Food TR ETN 33.4 $10.50 $126,702
131 UBG UBS E-TRACS CMCI Gold TR ETN 33.4 $6.10 $28,292
132 UBM UBS E-TRACS CMCI Industrial Metals TR ETN 33.4 $6.30 $24,757
133 UBC UBS E-TRACS CMCI Livestock TR ETN 33.4 $9.30 $6,546
134 PTD UBS E-TRACS CMCI Short Platinum ER ETN 32.2 $4.60 $1,872
135 USV UBS E-TRACS CMCI Silver TR ETN 33.4 $7.00 $63,810
136 SPGH UBS E-TRACS S&P; 500 Gold Hedged Idx ETN 11.2 $15.10 $12,772
137 WXSP Wilshire 4500 Completion ETF (Guggenheim) 9.9 $5.90 $31,726
138 WFVK Wilshire 5000 Total Market ETF (Guggenheim) 9.9 $2.80 $22,941
139 WREI Wilshire US REIT ETF (Guggenheim) 9.9 $9.10 $93,175
140 EU WisdomTree Dreyfus Euro 32 $9.20 $82,970
141 JYF WisdomTree Dreyfus Japan Yen 31.8 $12.90 $68,763
142 EZY WisdomTree Large Cap Value 46.9 $23.80 $66,516
143 ROI WisdomTree LargeCap Growth 25.2 $22.00 $52,121

Data sources: AUM from National Stock Exchange, 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: 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.