Thirteen names were added while fifteen came off the ETF Deathwatch this month. The net reduction of two is not as good as it seems since nine that departed were the result of actual fund closures. Just six escaped the honorable way by improving their health. This month’s list contains 328 products, consisting of 223 ETFs and 105 ETNs.
Five of the new arrivals are relatively young, being slightly over six months of age. This is the first time they are eligible for Deathwatch, which gives them plenty of time to attract investors in the future. New arrivals included in this category are First Trust RBA Quality Income ETF (QINC), Global X Guru International Index ETF (GURI), Global X Guru Small Cap Index ETF (GURX), Horizons Korea KOSPI 200 ETF (HKOR), and KraneShares Bosera MSCI China A ETF (KBA).
However, some of the products joining the list have age working against them. ETRACS CMCI Food Total Return ETN (FUD) and iPath Optimized Currency Carry ETN (ICI) are each more than six years old. Another year on the market is not going to help them. SPDR Nuveen S&P VRDO Municipal Bond (VRD) is also new to the list. It is five years old and has just $6 million in assets.
The average age of products increased from 44.8 to 46.2 months, and 93 are now more than five years in age. BLDRS Europe 100 ADR (ADRU) is the oldest product on ETF Deathwatch. It is nearly 12 years old, and there were fewer than 110 ETFs listed for trading when it launched. The average asset size is $6.5 million, down slightly from $6.6 million a month ago, and 61 products have asset levels of less than $2 million. Four products went the entire month of September without any trades, and 163 (nearly 10%) had zero volume on the last day of the month. These are true zombie ETFs.
Here is the Complete List of 328 Products on ETF Deathwatch for October 2014 compiled using the objective ETF Deathwatch Criteria.
The 13 ETPs added to ETF Deathwatch for October:
- ETRACS CMCI Food TR ETN (FUD)
- First Trust RBA Quality Income ETF (QINC)
- Global X Guru International Index ETF (GURI)
- Global X Guru Small Cap Index ETF (GURX)
- Horizons Korea KOSPI 200 ETF (HKOR)
- iPath Optimized Currency Carry ETN (ICI)
- iPath US Treasury 5-Year Yield Bear ETN (DFVS)
- IQ Hedge Market Neutral Tracker (QMN)
- KraneShares Bosera MSCI China A ETF (KBA)
- ProShares Short FTSE China 50 (YXI)
- RBS Rogers Enhanced Industrial Metals ETN (RGRI)
- SPDR Nuveen S&P VRDO Municipal Bond (VRD)
- WisdomTree Emerging Markets Consumer Growth (EMCG)
The 6 ETPs removed from ETF Deathwatch due to improved health:
- iPath Bloomberg Industrial Metals ETN (JJM)
- PowerShares DB 3x Italian T-Bond Futures ETN (ITLT)
- Recon Capital Nasdaq-100 Covered Call ETF (QYLD)
- WisdomTree Barclays US Aggregate Bond Zero Duration (AGZD)
- WisdomTree BofA ML High Yield Bond Zero Duration (HYZD)
- WisdomTree China Dividend Ex-Financials (CHXF)
The 9 ETPs removed from ETF Deathwatch due to delisting:
- Direxion Daily Brazil Bear 3x Shares (BRZS)
- Direxion Daily FTSE Europe Bear 3x Shares (EURZ)
- Direxion Daily Japan Bear 3x Shares (JPNS)
- Direxion Daily South Korea Bear 3x Shares (KORZ)
- PIMCO Germany Bond Index (BUND)
- EGShares China Infrastructure (CHXX)
- EGShares TCW EM Intermediate Term Investment Grade (IEMF)
- EGShares TCW EM Long Term Investment Grade Bond (LEMF)
- EGShares TCW EM Short Term Investment Grade Bond (SEMF)
ETF Deathwatch Archives
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.