JETS Dow Jones Islamic Market International Index Fund (JVS), having failed to attract investor assets, will cease trading on October 19, 2010. The fund had just $2.2 million at the end of last month, which is about the same as when it launched on July 1, 2009.

Unless other sponsors announce some earlier delisting dates, JVS will become the 32nd ETF closure of 2010. It has been a regular member of ETF Deathwatch, appearing at #17 in the current issue.

“With over seven million Muslims in the United States, we believe that Shariah-based investing has a promising future,” says Javelin president and founder Brint Frith in a press release dated 9/15, “but we found it difficult to reach target investors through the marketing channels typically used by ETFs.”

Javelin is not giving up on the ETF market and claims marketing efforts for its JETS Contrarian Opportunities Index Fund (JCO) are more successful. I do not know the basis for this claim because the assets in JCO are about 25% less than for JVS, and they have declined 50% since May.

JCO is currently excluded from ETF Deathwatch because it is less than six months old. However, trading in JCO averaged only 205 (no zeros omitted) shares per day last week, so it is on track to appear in the November issue when it becomes eligible.

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.