Monthly launch activity plunged more than 70% from February’s blistering pace. The March new product count of only 14 (13 ETFs and 1 ETN) was the lowest since last August. New ETPs year-to-date total 85, but with 16 closures the net increase is just 69. The eight March closures were all from Guggenheim, with the lifetime ETP closure tally now standing at 227.
The count of current listings now stands at 1,438 consisting of 1,226 ETFs and 212 ETNs. The number of actively managed funds increased by one to 42 with the highly anticipated arrival of the PIMCO Total Return ETF, which is changing its ticker symbol from TRXT to BOND effective April 4.
Assets under management climbed 0.8% to $1.21 trillion. Trading activity climbed for the second month in a row as total dollar volume (value traded) came in at $1.34 trillion, resulting in an asset turnover of about 111% for the month.
ETFs averaging more than $1 billion per day of trading increased from eight to eleven, accounting for 61.7% of all traded value. ETPs averaging more than $100 million in dollar volume per day increased by one to 72, and the quantity with more than $10 million of trading per day jumped from 235 to 245, accounting for all but 2.1% of ETP traded value.
|March 2012 Month End||ETFs||ETNs||Total|
|Currently Listed U.S.||1,226||212||1,438|
|Listed as of 12/31/2011||1,166||203||1,369|
|New Introductions for Month||13||1||14|
|Delistings/Closures for Month||8||0||8|
|Net Change for Month||+5||+1||+6|
|New Introductions 6 mths||119||26||145|
|New Introductions YTD||76||9||85|
|Net Change YTD||+60||+9||+85|
|Assets Under Mgmt ($ billion)||$1,193||$17.1||$1,211|
|% Change in Assets for Month||+0.8||-2.4||+0.8|
|Monthly $ Volume ($ billion)||$1,306||$33.7||$1,339|
|% Change in Monthly $ Volume||+9.3%||+4.4%||+9.1%|
|Avg Daily $ Volume > $1 Billion||10||1||11|
|Avg Daily $ Volume > $100 Million||70||2||72|
|Avg Daily $ Volume > $10 Million||235||10||245|
Data sources: Daily prices and volume of individual ETPs from Norgate Premium Data. Fund counts and all other information compiled by Invest With An Edge.
New products launched in March (sorted by launch date):
- PIMCO Total Return Exchange-Traded Fund (TRXT) [Can PIMCO Total Return ETF (TRXT) Live Up To Its Hype?]
- WisdomTree Emerging Markets Corporate Bond (EMCB) [EMCB overview]
- Yorkville High Income MLP [YMLP: Another Abomination of the ETF Wrapper]
- Russell High Dividend Yield ETF (HDIV) [HDIV overview]
- Russell Small Cap High Dividend Yield ETF (DIVS) [DIVS overview]
- SPDR Barclays Capital Short Term High Yield Bond ETF (SJNK) [SJNK overview]
- Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) [QQQE overview]
- Market Vectors Indonesia Small-Cap ETF (IDXJ) [IDXJ overview]
- UBS ETRACS Monthly Pay 2xLeveraged Dow Jones International Real Estate ETN (RWXL) [RWXL overview]
- Guggenheim BulletShares 2018 Corporate Bond ETF (BSCI) [BSCI overview]
- Guggenheim BulletShares 2019 Corporate Bond ETF (BSCJ) [BSCJ overview]
- Guggenheim BulletShares 2020 Corporate Bond ETF (BSCK) [BSCK overview]
- Teucrium Agricultural Fund (TAGS) [TAGS overview]
- ProShares UltraPro Short 20+ Year Treasury (TTT) [TTT overview]
Product closures/delistings in March:
- CurrencyShares Russion Ruble Trust (FXRU) [Guggenheim Closing 8 ETFs Including 2 CurrencyShares]
- CurrencyShares Mexican Peso Trust (FXM)
- Guggenheim EW Euro-Pacific LDRs ETF (EEN)
- Guggenheim International Small Cap LDRs ETF (XGC)
- Guggenheim Ocean Tomo Growth Index ETF (OTR)
- Guggenheim Ocean Tomo Patent ETF (OTP)
- Guggenheim Sector Rotation ETF (XRO)
- Rydex MSCI All Country World Equal Weight ETF (EWAC)
Product changes in March:
- PowerShares Dynamic Developed International Opportunities Portfolio (PFA) changed its name, ticker, and index becoming PowerShares S&P International Developed High Quality Portfolio (IDHQ), and PowerShares S&P 500 High Quality Portfolio changed its ticker from PIV to SPHQ effective 3/1/12.
- All Rydex ETFs were renamed Guggenheim ETFs effective 3/1/12, affecting 27 ETFs.
- ProShares Ultra VIX Short-Term Futures ETF (UVXY) underwent a 1-for-6 reverse split effective 3/8/12.
- Market Vectors Russia ETF (RSX), Direxion Daily Russia Bull 3x (RUSL), and Direxion Daily Russia Bear 3x (RUSS) changed from the DAXglobal Russia + Index to the Market Vectors Russia Index effective 3/19/12.
- Credit Suisse resumed “limited creations” of VelocityShares Daily 2x VIX Short-Term ETN (TVIX) the week of March 23. It had ceased creating shares on February 22, effectively converting to a closed-end fund. Traders should be aware that Credit Suisse could do it again, and the premium will collapse when share creation resumes.
Announced Product Changes for Coming Months:
- PIMCO Total Return ETF will change its ticker symbol from TRXT to BOND effective April 4.
Previous monthly ETF statistics reports are available here.
Disclosure covering writer, editor, publisher, and affiliates: 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.