The number of funds on ETF Deathwatch edged up to 113 this month from 111 in October. The count consists of 78 ETFs and 35 ETNs that failed to generate at least $100,000 in average daily value traded (ADVT) for the past month.
E-TRACS CMCI Short Platinum Excess Return (PTD) heads the list again this month. I haven’t checked, but my guess is that PTD holds the record for number of times at the top of the list. PTD saw action on only three days in September and did the same in October, with the other 19 days being zero volume days. However, it did manage to boost trading by 100 shares over September, making for 600 total shares traded last month. Although PTD hasn’t traded in a few days, there are shares available for purchase at $34.02 this morning. If you want to sell, the bid is only $33.62.
I’m not sure what the grand plan is for E-TRACS, but surely someone on the inside must be questioning its ongoing viability in this business. However, that voice was not heard last week when UBS launched yet another ETN, even though 90% of the E-TRACS product line was already on deathwatch.
To make things worse for these struggling ETFs, ETNs, and sponsors, Schwab has now upped the ante for anyone wanting to compete in this arena. The directors for the 113 products listed below need to demand answers. At what point do they pull the plug and end the suffering?
ETF DEATHWATCH – NOVEMBER 2009
| Rank | Ticker | Name | Age (mths) | Avg Daily Volume | Avg Daily Value Traded |
|---|---|---|---|---|---|
| 1 | PTD | E-TRACS CMCI Short Platinum Exc Ret ETN | 18 | 18 | $614 |
| 2 | BVL | Elements Ben Graham Large Cap Value ETN | 15 | 68 | $633 |
| 3 | RHO | Rydex Inverse 2x S&P; Health Care | 17 | 73 | $2,933 |
| 4 | MZO | Claymore/Mrngstr Services SuperSector | 27 | 200 | $3,481 |
| 5 | TZD | iShares S&P; Target Date 2010 Index Fund | 12 | 145 | $4,187 |
| 6 | JJT | iPath DJ-UBS Tin ETN | 16 | 123 | $4,300 |
| 7 | PGD | Barclays Asian&Gulf; Currency Reval. ETN | 17 | 91 | $4,557 |
| 8 | RTW | Rydex Inverse 2x S&P; Technology | 17 | 223 | $4,900 |
| 9 | GWO | Elements CS Global Warming ETN | 19 | 773 | $5,397 |
| 10 | OTP | Claymore/Ocean Tomo Patent | 35 | 259 | $5,590 |
| 11 | MZN | Claymore/Mrngstr Inform. SuperSector | 27 | 300 | $6,171 |
| 12 | UBC | E-TRACS CMCI Livestock Total Return ETN | 19 | 473 | $8,292 |
| 13 | TZO | iShares S&P; Target Date 2035 Index Fund | 12 | 395 | $11,601 |
| 14 | FUE | Elements MLCX Biofuels ETN | 21 | 1,523 | $11,925 |
| 15 | IIH | HOLDRS Internet Infrastructure | 118 | 5,005 | $12,171 |
| 16 | TZE | iShares S&P; Target Date 2015 Index Fund | 12 | 445 | $12,974 |
| 17 | PBTQ | PowerShares Global Biotech Portfolio | 14 | 582 | $13,442 |
| 18 | AYT | Barclays GEMS Asia 8 ETN | 14 | 291 | $13,481 |
| 19 | IPS | SPDR S&P; International Consumer Staples | 15 | 523 | $13,931 |
| 20 | JFT | First Trust Enhanced 130/30 Large Cap ETN | 18 | 518 | $14,303 |
| 21 | PNXQ | PowerShares Nasdaq Next Q | 19 | 709 | $15,505 |
| 22 | JEM | Barclays GEMS Currency Index ETN | 21 | 345 | $15,668 |
| 23 | EEH | Elements Spec LgCap US Sector Mo ETN | 27 | 2,055 | $16,512 |
| 24 | AGF | PowerShares DB Agriculture Long ETN | 19 | 1,068 | $17,575 |
| 25 | BHH | HOLDRS B2B Internet ETF | 118 | 43,723 | $18,286 |
| 26 | CZA | Claymore/Zacks Mid-Cap Core ETF | 31 | 939 | $20,350 |
| 27 | UBD | Claymore U.S. Capital Markets Bond ETF | 21 | 427 | $20,406 |
| 28 | DOD | Elements Dogs of the Dow Total Return ETN | 24 | 3,041 | $20,480 |
| 29 | ADZ | PowerShares DB Agriculture Short ETN | 19 | 636 | $20,541 |
| 30 | UBN | E-TRACS CMCI Energy Total Return ETN | 19 | 1,350 | $20,573 |
| 31 | BOS | PowerShares DB Base Metals Sht ETN | 17 | 859 | $22,261 |
| 32 | PMA | PowerShares Active Mega-Cap Portfolio | 19 | 1,073 | $22,856 |
| 33 | UEM | Claymore U.S.-1-The Capital Markets | 21 | 555 | $22,901 |
| 34 | UBG | E-TRACS CMCI Gold Total Return ETN | 19 | 805 | $23,126 |
| 35 | IRY | SPDR S&P; International Health Care | 15 | 814 | $23,181 |
| 36 | BVT | Elements Ben Graham Total Mkt Value ETN | 15 | 2,409 | $23,642 |
| 37 | PLK | PowerShares Active Low Duration | 19 | 982 | $24,930 |
| 38 | TZI | iShares S&P; Target Date 2025 Index Fund | 12 | 882 | $25,857 |
| 39 | PAO | PowerShares Auto Balanced Growth NFA | 18 | 2,350 | $26,399 |
| 40 | FUD | E-TRACS CMCI Food Total Return ETN | 19 | 1,336 | $27,023 |
| 41 | TGR | iShares S&P; Target Date Retirement Inc. | 12 | 995 | $27,530 |
| 42 | INR | Market Vectors Indian Rupee/USD ETN | 20 | 741 | $28,414 |
| 43 | GCE | Claymore CEF Index GS Connect ETN | 23 | 1,814 | $28,688 |
| 44 | PQZ | PowerShares Active Alpha Multi-Cap | 19 | 1,827 | $29,473 |
| 45 | RHM | Rydex 2x S&P; Health Care | 17 | 518 | $29,837 |
| 46 | IPU | SPDR S&P; International Utilities | 15 | 1,382 | $30,403 |
| 47 | PTO | PowerShares Auto Growth NFA | 18 | 2,873 | $30,850 |
| 48 | TZL | iShares S&P; Target Date 2030 Index Fund | 12 | 1,059 | $31,386 |
| 49 | FVI | First Trust Value Line Equity Allocation | 35 | 2,023 | $31,799 |
| 50 | BDG | PowerShares DB Base Metals Lng ETN | 17 | 1,550 | $31,976 |
| 51 | BSC | Elements Ben Graham Small Cap Value ETN | 15 | 3,336 | $34,164 |
| 52 | MZG | Claymore/Mrngstr Manufact. SuperSector | 27 | 1,682 | $34,798 |
| 53 | PQY | PowerShares Active AlphaQ | 19 | 1,750 | $36,405 |
| 54 | IPD | SPDR S&P; International Consumer Discr | 15 | 1,500 | $36,674 |
| 55 | XRU | CurrencyShares Russian Ruble Shares | 12 | 1,127 | $38,610 |
| 56 | JPP | SPDR Russell/Nomura PRIME Japan | 36 | 1,073 | $39,682 |
| 57 | BOM | PowerShares DB Base Metals Dbl Sh ETN | 17 | 1,777 | $39,848 |
| 58 | OTR | Claymore/Ocean Tomo Growth | 31 | 1,841 | $41,455 |
| 59 | GRN | iPath Global Carbon ETN | 16 | 1,600 | $42,426 |
| 60 | CRO | Claymore/Zacks Country Rotation | 28 | 2,686 | $44,493 |
| 61 | TZG | iShares S&P; Target Date 2020 Index Fund | 12 | 1,527 | $44,780 |
| 62 | DEF | Claymore/Sabrient Defender | 35 | 2,395 | $48,233 |
| 63 | TZV | iShares S&P; Target Date 2040 Index Fund | 12 | 1,636 | $48,623 |
| 64 | UBM | E-TRACS CMCI Industrial Metals TR ETN | 19 | 2,736 | $49,778 |
| 65 | DPC | WisdomTree Intl Consumer Cyclical | 37 | 2,732 | $51,788 |
| 66 | PQBW | PowerShares Nasdaq 100 Buy/Write | 17 | 2,395 | $52,487 |
| 67 | AGA | PowerShares DB Agriculture Dbl Short ETN | 19 | 1,359 | $54,566 |
| 68 | RYU | Rydex S&P; Equal Weight Utilities | 36 | 1,277 | $55,658 |
| 69 | UCI | E-TRACS CMCI Total Return ETN | 19 | 3,032 | $56,363 |
| 70 | JJU | iPath DJ-UBS Aluminum ETN | 16 | 2,086 | $56,502 |
| 71 | USV | E-TRACS CMCI Silver Total Return ETN | 19 | 2,377 | $59,351 |
| 72 | UAG | E-TRACS CMCI Agriculture TR ETN | 19 | 2,886 | $59,420 |
| 73 | URR | Market Vectors Double Long Euro ETN | 18 | 1,661 | $59,945 |
| 74 | EEN | Claymore/BNY Mellon EW Euro-Pacific LDRs | 33 | 3,386 | $61,073 |
| 75 | FAD | First Trust Multi Cap Growth AlphaDEX | 30 | 2,736 | $61,672 |
| 76 | PQSC | PowerShares FTSE Nasdaq Small Cap | 19 | 2,932 | $61,713 |
| 77 | RHS | Rydex S&P; Equal Weight Cons Staples | 36 | 1,268 | $61,947 |
| 78 | BWV | iPath CBOE S&P; 500 BuyWrite Index ETN | 30 | 1,459 | $62,234 |
| 79 | TDX | TDX Independence In-Target | 25 | 2,567 | $64,453 |
| 80 | KME | SPDR KBW Mortgage Finance ETF | 6 | 1,564 | $64,468 |
| 81 | PFI | PowerShares Dynamic Financials | 37 | 3,982 | $68,401 |
| 82 | JYF | WisdomTree Dreyfus Japan Yen | 18 | 2,368 | $68,754 |
| 83 | EKH | HOLDRS Europe 2001 | 107 | 1,132 | $69,241 |
| 84 | FDD | First Trust DJ STOXX European Select Dividend | 26 | 4,950 | $70,120 |
| 85 | EXB | Claymore/Beacon Gbl Exch, Brkrs, & Asst Mgrs | 29 | 4,973 | $70,304 |
| 86 | ADRU | BLDRS Europe 100 ADR | 85 | 3,300 | $70,429 |
| 87 | IRO | Claymore/Zacks Dividend Rotation | 25 | 3,986 | $70,871 |
| 88 | ERO | iPath EUR/USD Exchange Rate ETN | 30 | 1,227 | $71,000 |
| 89 | MBG | SPDR Barclays Mortgage Backed Bond ETF | 9 | 2,736 | $73,340 |
| 90 | IFNA | iShares FTSE NAREIT North America | 24 | 2,464 | $73,445 |
| 91 | WMH | HOLDRS Wireless | 110 | 1,664 | $75,174 |
| 92 | STH | Claymore/Sabrient Stealth | 38 | 4,968 | $75,696 |
| 93 | TLL | ProShares UltraShort Telecom | 19 | 4,170 | $76,766 |
| 94 | PZJ | PowerShares Zacks Small Cap | 45 | 4,623 | $77,923 |
| 95 | FPX | First Trust US IPO Index Fund | 43 | 4,186 | $80,216 |
| 96 | XGC | Claymore/BNY Mellon Intl Small Cap LDRs | 31 | 4,423 | $81,761 |
| 97 | TDD | TDX Independence 2010 | 25 | 3,532 | $82,302 |
| 98 | INY | SPDR Barclays New York Muni Bond | 25 | 3,709 | $83,693 |
| 99 | SJL | ProShares UltraShort Russell Midcap Value | 33 | 2,691 | $86,095 |
| 100 | FTC | First Trust Large Cap Growth Op AlphaDEX | 30 | 4,009 | $87,014 |
| 101 | PCA | PowerShares Auto Balanced NFA | 18 | 7,468 | $88,154 |
| 102 | RMS | Rydex Inverse 2x S&P; MidCap 400 | 24 | 2,505 | $88,648 |
| 103 | JJP | iPath DJ-UBS Precious Metals ETN | 16 | 1,595 | $90,303 |
| 104 | TDN | TDX Independence 2030 | 25 | 4,907 | $91,220 |
| 105 | RTL | iShares FTSE NAREIT Retail Capped | 30 | 4,714 | $92,490 |
| 106 | EMV | SPDR Dow Jones Mid Cap Value | 48 | 2,182 | $93,529 |
| 107 | DDP | PowerShares DB Commodity Short ETN | 18 | 2,314 | $93,862 |
| 108 | IPF | SPDR S&P; International Financial | 16 | 4,414 | $94,821 |
| 109 | PYH | PowerShares Value Line Industry Rotation | 36 | 5,450 | $95,549 |
| 110 | PJO | PowerShares FTSE RAFI Japan | 29 | 2,632 | $96,106 |
| 111 | TDH | TDX Independence 2020 | 25 | 4,624 | $96,839 |
| 112 | ROB | Claymore/Robb Report Global Luxury | 27 | 5,673 | $97,775 |
| 113 | MKH | HOLDRS Merrill Lynch Market 2000+ | 112 | 2,082 | $98,247 |
Note: New ETFs and ETNs are given a six-month grace period before becoming eligible for inclusion on this list. As of 10/31/2009, there were 60 products granted that exclusion.
Disclosure compliant with FTC 16 CFR Part 255 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.