The number of products on ETF Deathwatch held steady at 163 for September, although the membership list shows numerous changes. Ten names were added and another ten came off, leaving 123 ETFs and 40 ETNs vulnerable to shutdown.
Four products escaped the list simply because they no longer exist. These perpetual members of ETF Deathwatch have been closed and liquidated:
- ELEMENTS Benjamin Graham Large Cap Value ETN (BVL) [Ben Graham ELEMENTS ETNs Closing]
- ELEMENTS Benjamin Graham Small Cap Value ETN (BSC)
- ELEMENTS Benjamin Graham Total Market Value ETN (BVT)
- FaithShares Christian Values Fund (FOC)
Six ETPs had substantial increases in assets and trading activity the past three months, leaving the list more honorably:
- BLDRS Europe 100 ADR (ADRU)
- iPath Short Enhanced -2x MSCI Emerging Markets ETN (EMSA)
- iShares 2016 S&P AMT-Free Muni Series (MUAE)
- iShares FTSE NAREIT North America (IFNA)
- SPDR S&P International Health Care (IRY)
- VelocityShares Daily 2x VIX Medium-Term ETN (TVIZ)
New ETFs receive a six-month grace before they are eligible for ETF Deathwatch. This gives them a fair chance gain traction with investors. Five of the 14 new ETPs launched in February blew their chance and now join the ETF Deathwatch. Also, five older ETFs were added because of a drop off in assets and/or trading:
- FactorShares 2X: Oil Bull/S&P500 Bear (FOL) [FactorShares Introduces Spread Trading In ETF Wrapper]
- FactorShares 2X: S&P500 Bull/TBond Bear (FSE)
- FactorShares 2X: TBond Bull/S&P500 Bear (FSA)
- Global X China Industrial ETF (CHII) [Global X Launches 2 of 6 Planned China Sector ETFs]
- iShares MSCI Emerging Markets Materials (EMMT) [iShares Begins Rollout of 4 New International Sector ETF Suites]
- iShares S&P Global Nuclear Energy (NUCL)
- PowerShares Fundamental Pure Mid Core (PXMC) [Ticker Changes for PowerShares ETFs]
- PowerShares MENA Frontier Countries (PMNA)
- ProShares UltraShort TIPS (TPS) [Shorting Inflation Protection with TPS]
- Teucrium Natural Gas Fund (NAGS) [Teucrium Natural Gas Fund Now Trading]
With the demise of the ELEMENTS Benjamin Graham ETNs, other products now compete for the title “Listed Product with the Least Assets.” ELEMENTS Spectrum Large Cap Sector US Momentum ETN (EEH) and Market Vectors Double Long Euro ETN (URR) each have only a little over $1 million in assets, the least among those on the market for more than six months.
The now defunct ELEMENTS Benjamin Graham ETNs were also notorious for having some of the smallest trading activity. For August, that honor was shifted to ELEMENTS Spectrum Large Cap Sector US Momentum ETN (EEH) that traded on only four days during the month for a total of fewer than 1700 shares (about 73 shares per day).
The ETF Deathwatch criteria produced 163 names for September. Here is the complete list:
ETF DEATHWATCH FOR SEPTEMBER 2011
| # | Ticker Sym | ETF Name | Age (mths) | AUM (millions) | 3-mth Avg Daily $ Volume |
|---|---|---|---|---|---|
| 1 | DENT | AdvisorShares Dent Tactical ETF | 24 | $15.6 | $67,303 |
| 2 | AADR | AdvisorShares WCM/BNY Mellon Foc Gr ADR | 14 | $8.2 | $34,380 |
| 3 | PGD | Barclays Asian&Gulf; Currency Reval. ETN | 39 | $4.1 | $11,643 |
| 4 | BXDC | Barclays ETN+ S&P; 500 2x Short C 2009 ETN | 22 | $2.7 | $707,524 |
| 5 | JEM | Barclays GEMS Currency Index ETN | 44 | $3.9 | $43,432 |
| 6 | GCE | Claymore CEF Index GS Connect ETN | 45 | $3.4 | $34,363 |
| 7 | GVT | Columbia Concentrated Large Cap Value Strat | 28 | $2.9 | $2,748 |
| 8 | GMTB | Columbia Core Bond Strategy Fund | 19 | $5.3 | $16,226 |
| 9 | RPX | Columbia Growth Equity Strategy Fund | 23 | $1.5 | $9,759 |
| 10 | GMMB | Columbia Intermediate Municipal Bond Strategy | 19 | $5.2 | $8,500 |
| 11 | RWG | Columbia Large-Cap Growth Equity | 23 | $9.2 | $43,522 |
| 12 | XRU | CurrencyShares Russian Ruble Shares | 34 | $6.9 | $211,284 |
| 13 | TDD | db-X 2010 Target Date Fund | 48 | $14.3 | $30,571 |
| 14 | TDX | db-X In-Target Date Fund | 48 | $15.5 | $31,596 |
| 15 | FLYX | Direxion Airline Shares | 9 | $2.8 | $4,379 |
| 16 | BRIS | Direxion Daily BRIC Bear 2x | 18 | $2.9 | $71,756 |
| 17 | BRIL | Direxion Daily BRIC Bull 2x | 18 | $5.1 | $138,345 |
| 18 | INDZ | Direxion Daily India Bear 2x | 18 | $3.1 | $231,192 |
| 19 | LHB | Direxion Daily Latin America Bear 3x | 21 | $3.4 | $570,300 |
| 20 | GASX | Direxion Daily Natural Gas Related Bear 2x | 14 | $2.0 | $179,182 |
| 21 | RETS | Direxion Daily Retail Bear 2x | 14 | $2.3 | $144,647 |
| 22 | RETL | Direxion Daily Retail Bull 2x | 14 | $5.6 | $123,911 |
| 23 | FGEM | EGShares Financials GEMS ETF | 24 | $6.2 | $58,914 |
| 24 | GWO | ELEMENTS CS Global Warming ETN | 42 | $3.2 | $11,055 |
| 25 | DOD | ELEMENTS Dogs of the Dow Total Return ETN | 46 | $4.8 | $47,749 |
| 26 | FUE | ELEMENTS MLCX Biofuels ETN | 43 | $18.5 | $206,809 |
| 27 | WMW | ELEMENTS Morningstar Wide Moat Focus ETN | 47 | $10.0 | $61,806 |
| 28 | EEH | ELEMENTS Spctrm LgCap US Sector Mo ETN | 50 | $1.0 | $827 |
| 29 | EAPS | ESG Shares Pax MSCI EAFE ESG Index ETF | 7 | $2.2 | $36,346 |
| 30 | FOL | FactorShares 2X: Oil Bull/S&P500; Bear | 6 | $4.1 | $108,050 |
| 31 | FSE | FactorShares 2X: S&P500; Bull/TBond Bear | 6 | $1.5 | $42,324 |
| 32 | FSA | FactorShares 2X: TBond Bull/S&P500; Bear | 6 | $3.5 | $103,602 |
| 33 | FDD | First Trust DJ STOXX European Select Div | 49 | $9.8 | $72,611 |
| 34 | QABA | First Trust NASDAQ ABA Community Bank | 26 | $11.8 | $71,105 |
| 35 | FVI | First Trust Value Line Equity Allocation | 58 | $6.3 | $70,669 |
| 36 | ALUM | Global X Aluminum ETF | 8 | $4.4 | $65,753 |
| 37 | BRAF | Global X Brazil Financials ETF | 13 | $7.8 | $79,960 |
| 38 | CHIE | Global X China Energy ETF | 21 | $5.8 | $39,933 |
| 39 | CHIX | Global X China Financials ETF | 21 | $5.2 | $65,529 |
| 40 | CHII | Global X China Industrial ETF | 21 | $4.9 | $47,740 |
| 41 | CHIM | Global X China Materials ETF | 20 | $3.2 | $41,969 |
| 42 | CHIB | Global X China Technology ETF | 21 | $6.4 | $65,559 |
| 43 | EMGX | Global X Russell Emerging Markets Growth ETF | 7 | $2.2 | $10,928 |
| 44 | EMVX | Global X Russell Emerging Markets Value ETF | 7 | $2.3 | $9,177 |
| 45 | GIY | Guggenheim Enhanced Core Bond ETF | 43 | $5.4 | $20,774 |
| 46 | GSY | Guggenheim Enhanced Ultra-Short Bond ETF | 43 | $14.9 | $161,517 |
| 47 | EEN | Guggenheim EW Euro-Pacific LDRs ETF | 55 | $2.7 | $18,019 |
| 48 | XGC | Guggenheim International Small Cap LDRs | 54 | $8.2 | $167,371 |
| 49 | OTR | Guggenheim Ocean Tomo Growth Index ETF | 54 | $10.1 | $228,207 |
| 50 | OTP | Guggenheim Ocean Tomo Patent ETF | 57 | $9.7 | $33,599 |
| 51 | XRO | Guggenheim Sector Rotation ETF | 60 | $14.0 | $67,615 |
| 52 | WXSP | Guggenheim Wilshire 4500 Completion ETF | 18 | $5.6 | $52,805 |
| 53 | WFVK | Guggenheim Wilshire 5000 Total Market ETF | 18 | $5.5 | $36,631 |
| 54 | EKH | HOLDRS Europe 2001 | 129 | $3.5 | $37,100 |
| 55 | IIH | HOLDRS Internet Infrastructure | 140 | $9.3 | $24,361 |
| 56 | MKH | HOLDRS Merrill Lynch Market 2000+ | 134 | $11.9 | $50,936 |
| 57 | WMH | HOLDRS Wireless | 132 | $13.8 | $8,808 |
| 58 | GBB | iPath GBP/USD Exchange Rate ETN | 53 | $2.6 | $84,959 |
| 59 | GRN | iPath Global Carbon ETN | 39 | $2.4 | $28,519 |
| 60 | JYN | iPath JPY/USD Exchange Rate ETN | 53 | $4.9 | $19,029 |
| 61 | MFLA | iPath Long Enh 2x MSCI EAFE Index ETN | 9 | $3.0 | $69,563 |
| 62 | EMLB | iPath Long Enh 2x MSCI Emerging Mkts ETN | 9 | $4.4 | $54,688 |
| 63 | ROLA | iPath Long Ext 3x Russell 1000 TR ETN | 9 | $4.4 | $60,999 |
| 64 | RTLA | iPath Long Ext 3x Russell 2000 TR ETN | 9 | $3.0 | $373,458 |
| 65 | MFSA | iPath Short Enh -2x MSCI EAFE Index ETN | 9 | $5.1 | $53,667 |
| 66 | ROSA | iPath Short Ext -3x Russell 1000 TR ETN | 9 | $4.0 | $109,613 |
| 67 | SFSA | iPath Short Ext -3x S&P; 500 TR Index ETN | 9 | $10.3 | $1,909,247 |
| 68 | TWON | IQ Taiwan Small Cap | 16 | $3.8 | $34,921 |
| 69 | GLJ | iShares 10+ Year Government/Credit Bond | 21 | $22.8 | $85,520 |
| 70 | RTL | iShares FTSE NAREIT Retail Capped | 53 | $8.5 | $71,908 |
| 71 | AXDI | iShares MSCI ACWI ex US Consumer Discr | 14 | $6.0 | $23,102 |
| 72 | AXSL | iShares MSCI ACWI ex US Consumer Staples | 14 | $3.1 | $13,689 |
| 73 | AXEN | iShares MSCI ACWI ex US Energy | 14 | $5.7 | $37,899 |
| 74 | AXFN | iShares MSCI ACWI ex US Financials | 20 | $2.1 | $6,245 |
| 75 | AXHE | iShares MSCI ACWI ex US Health Care | 14 | $2.9 | $84,954 |
| 76 | AXID | iShares MSCI ACWI ex US Industrials | 14 | $5.4 | $8,809 |
| 77 | AXIT | iShares MSCI ACWI ex US Info Technology | 14 | $2.5 | $37,956 |
| 78 | AXMT | iShares MSCI ACWI ex US Materials | 14 | $6.1 | $24,263 |
| 79 | AXTE | iShares MSCI ACWI ex US Telecom Services | 14 | $2.8 | $29,203 |
| 80 | AXUT | iShares MSCI ACWI ex US Utilities | 14 | $2.3 | $40,547 |
| 81 | EMFN | iShares MSCI Emerging Markets Financials | 20 | $20.1 | $28,507 |
| 82 | EMMT | iShares MSCI Emerging Markets Materials | 20 | $9.9 | $58,704 |
| 83 | FEFN | iShares MSCI Far East Financials Sector | 20 | $2.3 | $6,602 |
| 84 | EIRL | iShares MSCI Ireland Cap. Investable Mkt | 16 | $4.8 | $123,335 |
| 85 | EUSA | iShares MSCI USA Index Fund | 16 | $5.2 | $155,313 |
| 86 | NUCL | iShares S&P; Global Nuclear Energy | 39 | $15.0 | $63,377 |
| 87 | TZD | iShares S&P; Target Date 2010 Index Fund | 34 | $7.7 | $292,699 |
| 88 | TZE | iShares S&P; Target Date 2015 Index Fund | 34 | $12.7 | $268,369 |
| 89 | TZI | iShares S&P; Target Date 2025 Index Fund | 34 | $16.2 | $250,718 |
| 90 | TZL | iShares S&P; Target Date 2030 Index Fund | 34 | $13.0 | $129,573 |
| 91 | TZO | iShares S&P; Target Date 2035 Index Fund | 34 | $8.1 | $56,231 |
| 92 | TZV | iShares S&P; Target Date 2040 Index Fund | 34 | $14.7 | $89,945 |
| 93 | TGR | iShares S&P; Target Date Retirement Inc. | 34 | $7.5 | $163,070 |
| 94 | CRBI | Jefferies|TR/J CRB Global Ind Metals Equity | 22 | $4.0 | $30,189 |
| 95 | JCO | JETS Contrarian Opportunities | 17 | $5.8 | $174,190 |
| 96 | DSXJ | JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN | 11 | $8.7 | $35,970 |
| 97 | DSTJ | JPM Qtrly Dbl Short US Long Treas Fut ETN | 11 | $8.6 | $46,062 |
| 98 | JFT | KEYnotes FT Enhanced 130/30 Large Cap ETN | 40 | $3.4 | $7,883 |
| 99 | URR | Market Vectors Double Long Euro ETN | 40 | $1.1 | $25,674 |
| 100 | INR | Market Vectors Indian Rupee/USD ETN | 42 | $5.5 | $78,871 |
| 101 | NASI | Pax MSCI North America ESG Index | 16 | $4.0 | $42,054 |
| 102 | TRSY | PIMCO Broad U.S. Treasury Index Fund | 10 | $18.7 | $50,195 |
| 103 | PQZ | PowerShares Active Alpha Multi-Cap | 41 | $2.5 | $24,743 |
| 104 | PMA | PowerShares Active Mega-Cap Portfolio | 41 | $5.0 | $50,678 |
| 105 | LBND | PowerShares DB 3x Long 25+ Treas ETN | 14 | $6.4 | $91,036 |
| 106 | ADZ | PowerShares DB Agriculture Short ETN | 41 | $1.7 | $114,845 |
| 107 | BDG | PowerShares DB Base Metals Long ETN | 39 | $1.8 | $6,911 |
| 108 | BOS | PowerShares DB Base Metals Short ETN | 39 | $7.9 | $232,466 |
| 109 | DEE | PowerShares DB Commodity Dbl Short ETN | 41 | $2.6 | $194,656 |
| 110 | DPU | PowerShares DB Commodity Long ETN | 41 | $7.5 | $33,288 |
| 111 | DDP | PowerShares DB Commodity Short ETN | 41 | $2.8 | $165,667 |
| 112 | PEZ | PowerShares Dynamic Cons Discretionary | 59 | $18.6 | $72,898 |
| 113 | PIC | PowerShares Dynamic Insurance | 71 | $8.0 | $24,104 |
| 114 | PIQ | PowerShares Dynamic Magniquant | 59 | $18.8 | $41,862 |
| 115 | PXMC | PowerShares Fundamental Pure Mid Core | 58 | $20.4 | $73,330 |
| 116 | PXSC | PowerShares Fundamental Pure Small Core | 58 | $15.1 | $73,536 |
| 117 | PSTL | PowerShares Global Steel Portfolio | 36 | $4.7 | $23,143 |
| 118 | PTO | PowerShares Ibbotson Alternative Completion | 40 | $8.9 | $35,964 |
| 119 | KBWX | PowerShares KBW International Financial | 9 | $3.3 | $8,560 |
| 120 | KBWY | PowerShares KBW Premium Yield Equity REIT | 9 | $7.0 | $88,363 |
| 121 | KBWP | PowerShares KBW Property & Casualty Ins | 9 | $3.5 | $3,013 |
| 122 | PMNA | PowerShares MENA Frontier Countries | 38 | $21.7 | $75,127 |
| 123 | PYH | PowerShares Morningstar StockInvestor Core | 58 | $15.7 | $39,861 |
| 124 | PSCM | PowerShares S&P; SmallCap Materials | 17 | $6.6 | $93,932 |
| 125 | KRU | ProShares Ultra KBW Regional Banking | 17 | $1.6 | $256,383 |
| 126 | UPV | ProShares Ultra MSCI Europe | 16 | $2.9 | $127,317 |
| 127 | UMX | ProShares Ultra MSCI Mexico Investable Mkt | 16 | $1.8 | $12,193 |
| 128 | UXJ | ProShares Ultra MSCI Pacific Ex-Japan | 16 | $3.3 | $124,870 |
| 129 | UWC | ProShares Ultra Russell3000 | 26 | $7.0 | $73,959 |
| 130 | YCL | ProShares Ultra Yen | 34 | $5.6 | $366,973 |
| 131 | RXD | ProShares UltraShort Healthcare | 56 | $3.6 | $160,085 |
| 132 | SMK | ProShares UltraShort MSCI Mexico | 27 | $2.5 | $72,454 |
| 133 | JPX | ProShares UltraShort MSCI Pacific ex-Japan | 27 | $2.4 | $39,682 |
| 134 | BIS | ProShares UltraShort Nasdaq Biotechnology | 17 | $4.2 | $122,579 |
| 135 | SFK | ProShares UltraShort Russell 1000 Growth | 55 | $3.1 | $292,214 |
| 136 | SJF | ProShares UltraShort Russell 1000 Value | 55 | $2.5 | $92,564 |
| 137 | SDK | ProShares UltraShort Russell Midcap Growth | 55 | $2.9 | $150,251 |
| 138 | SJL | ProShares UltraShort Russell Midcap Value | 55 | $2.1 | $101,268 |
| 139 | TWQ | ProShares UltraShort Russell3000 | 26 | $2.3 | $100,625 |
| 140 | TLL | ProShares UltraShort Telecom | 42 | $2.5 | $61,762 |
| 141 | TPS | ProShares UltraShort TIPS | 7 | $3.1 | $40,178 |
| 142 | SDP | ProShares UltraShort Utilities | 56 | $2.9 | $186,564 |
| 143 | ONEF | Russell Equity ETF | 16 | $8.0 | $154,021 |
| 144 | EWAC | Rydex MSCI All Country World Equal Weight | 8 | $5.6 | $64,402 |
| 145 | KME | SPDR KBW Mortgage Finance ETF | 28 | $3.3 | $22,845 |
| 146 | VRD | SPDR Nuveen S&P; VRDO Municipal Bond ETF | 24 | $12.0 | $105,784 |
| 147 | JPP | SPDR Russell/Nomura PRIME Japan | 58 | $15.0 | $80,780 |
| 148 | IPF | SPDR S&P; International Financial | 38 | $7.9 | $95,918 |
| 149 | IPU | SPDR S&P; International Utilities | 38 | $7.3 | $54,514 |
| 150 | NAGS | Teucrium Natural Gas Fund | 7 | $2.0 | $15,300 |
| 151 | MLPG | UBS ETRACS Alerian Natural Gas MLP ETN | 14 | $14.1 | $195,156 |
| 152 | UBN | UBS ETRACS CMCI Energy TR ETN | 42 | $3.2 | $22,440 |
| 153 | UBG | UBS ETRACS CMCI Gold TR ETN | 42 | $9.4 | $85,617 |
| 154 | UBM | UBS ETRACS CMCI Industrial Metals TR ETN | 42 | $6.4 | $15,306 |
| 155 | UBC | UBS ETRACS CMCI Livestock TR ETN | 42 | $4.9 | $5,754 |
| 156 | PTD | UBS ETRACS CMCI Short Platinum ER ETN | 40 | $3.1 | $2,846 |
| 157 | SPGH | UBS ETRACS S&P; 500 Gold Hedged Idx ETN | 19 | $17.6 | $116,910 |
| 158 | MLPW | UBS ETRACS Wells Fargo MLP Index ETN | 10 | $17.7 | $79,574 |
| 159 | IVOV | Vanguard S&P; Mid-Cap 400 Value ETF | 12 | $11.1 | $42,365 |
| 160 | VIIZ | VelocityShares VIX Medium-Term ETN | 9 | $8.7 | $201,936 |
| 161 | EU | WisdomTree Dreyfus Euro | 40 | $5.2 | $60,393 |
| 162 | JYF | WisdomTree Dreyfus Japan Yen | 40 | $13.6 | $164,885 |
| 163 | HEDJ | WisdomTree International Hedged Equity | 20 | $18.6 | $70,520 |
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.