AdvisorShares Dent Tactical ETF (DENT), an actively-managed fund from Harry S. Dent, Jr., along with four others joined ETF Deathwatch this month. In conjunction with four funds being removed, this increases the number of names on the list by one to 139.
The 103 ETFs and 36 ETNs on ETF Deathwatch average $6.8 million in assets and are an average age of 30.3 months. Eighteen have less than $2 million in assets, barely generating any fees for their sponsors.
ELEMENTS Benjamin Graham Large Cap Value ETN (BVL) and ELEMENTS Benjamin Graham Total Market Value ETN (BVT) have the dubious distinction of being the only two ETPs with less than $1 million is assets. BVL also wins the award for the least trading activity in April with just 400 shares changing hands – just one trade back on April 7.
Columbia is now the new owner of the Grail ETFs. One Grail ETF has already changed its name to Columbia, but all five remain on Deathwatch. We will see if Columbia can turn the situation around.
The five products added to ETF Deathwatch for May are:
- AdvisorShares Dent Tactical ETF (DENT): Dent’s ETF debut in September 2009 was met with great fanfare, but I had a less enthusiastic view. The euphoria faded quickly; performance instantly and continuously lagged its benchmark. Assets have dropped to $20 million and trading volume has dried up.
- Direxion Daily Retail Bull 2x (RETL): RETL is one of four funds introduced by Direxion in July 2010 that have all struggled to gain attention. With the addition of RETL, three of the four are now part of ETF Deathwatch.
- First Trust DJ STOXX European Select Dividend (FDD): Since its August 2007 inception, this “more conservative” dividend-focused ETF underperformed its non-dividend counterparts by 10% per year. Ouch.
- First Trust NASDAQ ABA Community Bank (QABA): I had high hopes for QABA when it was introduced in July 2009, but it takes more than good intent to succeed in this arena. Assets have stayed stubbornly below $15 million and trading has dwindled.
- JPMorgan Quarterly Double Short US 10-Yr Treasury Futures ETN (DSXJ): DSTX was probably destined for ETF Deathwatch since the day of its launch. However, I give all new products a six-month grace period. With the grace period now expired, assets of just $5.2 million and no trading activity, DSXJ join the list. The long-term Treasury version (DSTJ) is not faring much better, but stays off the list for now.
The following four funds came off ETF Deathwatch after significant growth in trading activity the past few months:
- Rydex S&P Equal Weight Consumer Staples (RHS)
- SPDR Russell/Nomura PRIME Japan (JPP)
- PowerShares DB Agriculture Long ETN (AGF)
- PowerShares DB Agriculture Double Short ETN (AGA)
The ETF Deathwatch criteria produced the following list of 139 names for May:
ETF DEATHWATCH FOR MAY 2011
| # | Ticker Sym | ETF Name | Age (mths) | AUM (millions) | 3-mth Avg Daily $ Volume |
|---|---|---|---|---|---|
| 1 | DENT | AdvisorShares Dent Tactical ETF | 19.7 | $19.65 | $84,345 |
| 2 | AADR | AdvisorShares WCM/BNY Mellon Foc Gr ADR | 9.4 | $8.81 | $75,394 |
| 3 | PGD | Barclays Asian&Gulf; Currency Reval. ETN | 34.9 | $4.10 | $13,480 |
| 4 | BXDC | Barclays ETN+ S&P; 500 2x Short C 2009 ETN | 17.6 | $1.75 | $331,946 |
| 5 | BXDD | Barclays ETN+ S&P; 500 3x Short D 2009 ETN | 17.6 | $1.98 | $453,226 |
| 6 | JEM | Barclays GEMS Currency Index ETN | 39.5 | $4.06 | $12,578 |
| 7 | ADRU | BLDRS Europe 100 ADR | 103.0 | $22.39 | $79,896 |
| 8 | GCE | Claymore CEF Index GS Connect ETN | 41.2 | $3.62 | $30,312 |
| 9 | ULQ | Claymore U.S. Cap Mkts Micro-Trm Fxd Inc | 39.1 | $4.98 | $4,028 |
| 10 | UBD | Claymore U.S. Capital Markets Bond | 39.1 | $5.25 | $28,648 |
| 11 | GVT | Columbia Concentrated Large Cap Value | 24.2 | $3.40 | $2,989 |
| 12 | XRU | CurrencyShares Russian Ruble Shares | 30.0 | $9.13 | $146,932 |
| 13 | BRIS | Direxion Daily BRIC Bear 2x | 13.8 | $2.41 | $19,949 |
| 14 | BRIL | Direxion Daily BRIC Bull 2x | 13.8 | $4.72 | $184,227 |
| 15 | INDZ | Direxion Daily India Bear 2x | 13.8 | $3.84 | $419,061 |
| 16 | LHB | Direxion Daily Latin America Bear 3x | 17.1 | $2.95 | $287,734 |
| 17 | FCGS | Direxion Daily Natural Gas Related Bear 2x | 9.7 | $1.64 | $66,863 |
| 18 | RETS | Direxion Daily Retail Bear 2x | 9.7 | $2.28 | $141,719 |
| 19 | RETL | Direxion Daily Retail Bull 2x | 9.7 | $6.32 | $85,588 |
| 20 | EFN | EGS DJ Emerging Markets Financials Titans | 19.7 | $11.31 | $91,602 |
| 21 | BVL | ELEMENTS Ben Graham Large Cap Value ETN | 33.0 | $0.63 | $2,419 |
| 22 | BSC | ELEMENTS Ben Graham Small Cap Value ETN | 32.9 | $1.77 | $14,267 |
| 23 | BVT | ELEMENTS Ben Graham Total Mkt Value ETN | 33.0 | $0.97 | $5,289 |
| 24 | GWO | ELEMENTS CS Global Warming ETN | 37.4 | $3.86 | $78,772 |
| 25 | DOD | ELEMENTS Dogs of the Dow Total Return ETN | 42.3 | $4.31 | $88,801 |
| 26 | FUE | ELEMENTS MLCX Biofuels ETN | 39.3 | $2.72 | $132,425 |
| 27 | WMW | ELEMENTS Morningstar Wide Moat Focus ETN | 43.0 | $10.86 | $126,599 |
| 28 | EEH | ELEMENTS Spctrm LgCap US Sector Mo ETN | 45.6 | $1.18 | $2,763 |
| 29 | FZB | FaithShares Baptist Values Fund | 16.7 | $1.55 | $5,126 |
| 30 | FCV | FaithShares Catholic Values Fund | 16.9 | $3.24 | $30,581 |
| 31 | FOC | FaithShares Christian Values Fund | 16.9 | $3.22 | $28,609 |
| 32 | FKL | FaithShares Lutheran Values Fund | 16.7 | $1.55 | $8,426 |
| 33 | FMV | FaithShares Methodist Values Fund | 16.9 | $1.60 | $16,872 |
| 34 | FDD | First Trust DJ STOXX European Select Div | 44.6 | $11.72 | $62,823 |
| 35 | QABA | First Trust NASDAQ ABA Community Bank | 22.3 | $14.07 | $81,214 |
| 36 | FVI | First Trust Value Line Equity Allocation | 53.6 | $7.56 | $74,037 |
| 37 | BRAF | Global X Brazil Financials ETF | 9.2 | $9.63 | $55,621 |
| 38 | CHIB | Global X China Technology ETF | 16.9 | $5.86 | $102,292 |
| 39 | GMTB | Grail McDonnell Core Taxable Bond ETF | 15.2 | $5.11 | $7,170 |
| 40 | GMMB | Grail McDonnell Intermediate Municipal Bnd | 15.2 | $5.07 | $1,813 |
| 41 | RWG | Grail RP Focused Large Cap Growth ETF | 19.2 | $11.59 | $208,915 |
| 42 | RPX | Grail RP Growth ETF | 19.2 | $5.04 | $22,100 |
| 43 | EEN | Guggenheim EW Euro-Pacific LDRs ETF | 50.7 | $3.25 | $24,975 |
| 44 | XGC | Guggenheim International Small Cap LDRs | 49.6 | $11.46 | $74,113 |
| 45 | OTR | Guggenheim Ocean Tomo Growth Index ETF | 49.6 | $6.11 | $42,281 |
| 46 | OTP | Guggenheim Ocean Tomo Patent ETF | 53.2 | $11.34 | $228,315 |
| 47 | WXSP | Guggenheim Wilshire 4500 Completion ETF | 13.9 | $6.58 | $29,370 |
| 48 | WFVK | Guggenheim Wilshire 5000 Total Market ETF | 13.9 | $6.13 | $88,204 |
| 49 | EKH | HOLDRS Europe 2001 | 125.1 | $5.09 | $11,483 |
| 50 | MKH | HOLDRS Merrill Lynch Market 2000+ | 129.8 | $13.57 | $22,634 |
| 51 | WMH | HOLDRS Wireless | 127.8 | $16.72 | $30,045 |
| 52 | ERO | iPath EUR/USD Exchange Rate ETN | 48.4 | $17.90 | $233,143 |
| 53 | GBB | iPath GBP/USD Exchange Rate ETN | 48.4 | $4.93 | $31,361 |
| 54 | GRN | iPath Global Carbon ETN | 34.7 | $4.17 | $52,063 |
| 55 | TWON | IQ Taiwan Small Cap | 11.5 | $4.50 | $172,677 |
| 56 | MUAE | iShares 2016 S&P; AMT-Free Muni Series | 16.0 | $20.54 | $127,333 |
| 57 | AXDI | iShares MSCI ACWI ex US Consumer Discr | 9.6 | $6.83 | $97,430 |
| 58 | AXSL | iShares MSCI ACWI ex US Consumer Staples | 9.6 | $3.30 | $47,059 |
| 59 | AXEN | iShares MSCI ACWI ex US Energy | 9.6 | $6.97 | $91,062 |
| 60 | AXFN | iShares MSCI ACWI ex US Financials | 15.4 | $2.64 | $3,988 |
| 61 | AXHE | iShares MSCI ACWI ex US Health Care | 9.6 | $3.09 | $63,949 |
| 62 | AXID | iShares MSCI ACWI ex US Industrials | 9.6 | $6.62 | $223,630 |
| 63 | AXIT | iShares MSCI ACWI ex US Info Technology | 9.6 | $6.12 | $66,711 |
| 64 | AXMT | iShares MSCI ACWI ex US Materials | 9.6 | $7.25 | $205,092 |
| 65 | AXTE | iShares MSCI ACWI ex US Telecom Services | 9.6 | $6.32 | $63,321 |
| 66 | AXUT | iShares MSCI ACWI ex US Utilities | 9.6 | $5.70 | $55,187 |
| 67 | EMFN | iShares MSCI Emerging Markets Financials | 15.4 | $23.91 | $172,588 |
| 68 | FEFN | iShares MSCI Far East Financials Sector | 15.4 | $2.51 | $8,945 |
| 69 | EUSA | iShares MSCI USA Index Fund | 11.9 | $1.46 | $42,036 |
| 70 | TZD | iShares S&P; Target Date 2010 Index Fund | 30.2 | $4.84 | $59,357 |
| 71 | TZE | iShares S&P; Target Date 2015 Index Fund | 30.2 | $10.13 | $70,003 |
| 72 | TZG | iShares S&P; Target Date 2020 Index Fund | 30.2 | $17.35 | $128,584 |
| 73 | TZI | iShares S&P; Target Date 2025 Index Fund | 30.2 | $12.40 | $51,732 |
| 74 | TZL | iShares S&P; Target Date 2030 Index Fund | 30.2 | $12.58 | $64,532 |
| 75 | TZO | iShares S&P; Target Date 2035 Index Fund | 30.2 | $7.23 | $31,943 |
| 76 | TZV | iShares S&P; Target Date 2040 Index Fund | 30.2 | $14.63 | $70,649 |
| 77 | TGR | iShares S&P; Target Date Retirement Inc. | 30.2 | $6.14 | $27,567 |
| 78 | CRBI | Jefferies|TR/J CRB Global Ind Metals Equity | 18.3 | $7.28 | $88,469 |
| 79 | DSXJ | JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN | 6.9 | $5.21 | $78,147 |
| 80 | JFT | KEYnotes FT Enhanced 130/30 Large Cap ETN | 35.8 | $3.89 | $12,269 |
| 81 | URR | Market Vectors Double Long Euro ETN | 36.3 | $1.20 | $33,753 |
| 82 | INR | Market Vectors Indian Rupee/USD ETN | 37.9 | $7.71 | $57,741 |
| 83 | NASI | Pax MSCI North America ESG Index | 11.5 | $2.97 | $25,600 |
| 84 | PQZ | PowerShares Active Alpha Multi-Cap | 37.1 | $4.13 | $48,701 |
| 85 | PLK | PowerShares Active Low Duration | 37.0 | $11.41 | $119,370 |
| 86 | PMA | PowerShares Active Mega-Cap Portfolio | 37.0 | $5.57 | $50,321 |
| 87 | LBND | PowerShares DB 3x Long 25+ Treas ETN | 10.2 | $3.28 | $15,068 |
| 88 | ADZ | PowerShares DB Agriculture Short ETN | 37.0 | $2.30 | $26,575 |
| 89 | BDG | PowerShares DB Base Metals Long ETN | 34.9 | $1.64 | $20,000 |
| 90 | BOS | PowerShares DB Base Metals Short ETN | 34.9 | $2.98 | $16,754 |
| 91 | DEE | PowerShares DB Commodity Dbl Short ETN | 36.6 | $1.59 | $37,811 |
| 92 | DPU | PowerShares DB Commodity Long ETN | 36.6 | $8.25 | $58,204 |
| 93 | DDP | PowerShares DB Commodity Short ETN | 36.6 | $1.16 | $17,272 |
| 94 | PIC | PowerShares Dynamic Insurance | 67.1 | $9.45 | $169,679 |
| 95 | PJM | PowerShares Dynamic Small Cap | 53.7 | $18.99 | $63,512 |
| 96 | PSTL | PowerShares Global Steel Portfolio | 31.7 | $8.29 | $88,233 |
| 97 | PTO | PowerShares Ibbotson Alternative Completion | 35.8 | $9.26 | $59,411 |
| 98 | PYH | PowerShares Morningstar StockInvestor Core | 53.7 | $19.82 | $92,297 |
| 99 | PSCM | PowerShares S&P; SmallCap Materials | 12.9 | $3.06 | #N/A |
| 100 | SBM | ProShares Short Basic Materials | 13.6 | $3.42 | $134,975 |
| 101 | UPV | ProShares Ultra MSCI Europe | 12.2 | $4.52 | $61,931 |
| 102 | UMX | ProShares Ultra MSCI Mexico Investable Mkt | 12.2 | $2.21 | $68,364 |
| 103 | UXJ | ProShares Ultra MSCI Pacific Ex-Japan | 12.2 | $4.27 | $106,547 |
| 104 | BIB | ProShares Ultra Nasdaq Biotechnology | 12.9 | $11.78 | $380,480 |
| 105 | UWC | ProShares Ultra Russell3000 | 22.2 | $9.12 | $61,392 |
| 106 | YCL | ProShares Ultra Yen | 29.5 | $3.33 | $289,627 |
| 107 | SMDD | ProShares UltraPro Short S&P; MidCap400 | 14.8 | $3.71 | $751,689 |
| 108 | CMD | ProShares UltraShort DJ-UBS Commodity | 29.5 | $4.39 | $107,290 |
| 109 | RXD | ProShares UltraShort Healthcare | 51.7 | $3.39 | $77,044 |
| 110 | SMK | ProShares UltraShort MSCI Mexico | 22.7 | $2.35 | $97,546 |
| 111 | JPX | ProShares UltraShort MSCI Pacific ex-Japan | 22.7 | $6.76 | $97,499 |
| 112 | BIS | ProShares UltraShort Nasdaq Biotechnology | 12.9 | $1.87 | $104,298 |
| 113 | SFK | ProShares UltraShort Russell 1000 Growth | 50.9 | $4.27 | $110,792 |
| 114 | SJF | ProShares UltraShort Russell 1000 Value | 50.9 | $2.12 | $49,850 |
| 115 | SDK | ProShares UltraShort Russell Midcap Growth | 50.9 | $2.50 | $108,684 |
| 116 | SJL | ProShares UltraShort Russell Midcap Value | 50.9 | $1.77 | $34,811 |
| 117 | TWQ | ProShares UltraShort Russell3000 | 22.2 | $1.33 | $78,786 |
| 118 | TLL | ProShares UltraShort Telecom | 37.6 | $2.31 | $47,578 |
| 119 | SDP | ProShares UltraShort Utilities | 51.7 | $4.17 | $112,348 |
| 120 | RWV | RevenueShares Navellier Overall A-100 | 27.6 | $10.55 | $144,844 |
| 121 | KME | SPDR KBW Mortgage Finance ETF | 24.3 | $4.19 | $28,810 |
| 122 | VRD | SPDR Nuveen S&P; VRDO Municipal Bond ETF | 19.4 | $9.01 | $96,772 |
| 123 | IPF | SPDR S&P; International Financial | 33.7 | $7.68 | $123,483 |
| 124 | IRY | SPDR S&P; International Health Care | 33.6 | $14.96 | $148,513 |
| 125 | IPU | SPDR S&P; International Utilities | 33.6 | $8.81 | $34,785 |
| 126 | TDD | TDX Independence 2010 | 43.6 | $14.41 | $41,106 |
| 127 | TDX | TDX Independence In-Target | 43.6 | $16.01 | $45,850 |
| 128 | MLPS | UBS E-TRACS 1x Mthly Short Alerian MLP ETN | 7.1 | $8.10 | $23,619 |
| 129 | MLPG | UBS E-TRACS Alerian Natural Gas MLP ETN | 9.7 | $14.21 | $120,282 |
| 130 | UBN | UBS E-TRACS CMCI Energy TR ETN | 37.4 | $3.63 | $16,968 |
| 131 | UBG | UBS E-TRACS CMCI Gold TR ETN | 37.4 | $7.71 | $36,104 |
| 132 | UBM | UBS E-TRACS CMCI Industrial Metals TR ETN | 37.4 | $6.51 | $31,480 |
| 133 | UBC | UBS E-TRACS CMCI Livestock TR ETN | 37.4 | $5.20 | $24,280 |
| 134 | PTD | UBS E-TRACS CMCI Short Platinum ER ETN | 36.2 | $3.05 | $4,268 |
| 135 | USV | UBS E-TRACS CMCI Silver TR ETN | 37.4 | $12.45 | $245,813 |
| 136 | SPGH | UBS E-TRACS S&P; 500 Gold Hedged Idx ETN | 15.2 | $13.48 | $27,130 |
| 137 | IVOV | Vanguard S&P; Mid-Cap 400 Value ETF | 7.8 | $6.54 | $105,924 |
| 138 | EU | WisdomTree Dreyfus Euro | 36.0 | $10.20 | $74,263 |
| 139 | JYF | WisdomTree Dreyfus Japan Yen | 35.8 | $6.43 | $79,901 |
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.