{"id":1789,"date":"2021-07-12T10:48:16","date_gmt":"2021-07-12T10:48:16","guid":{"rendered":"https:\/\/investwithanedge.com\/?page_id=1789"},"modified":"2021-07-12T10:48:16","modified_gmt":"2021-07-12T10:48:16","slug":"etf-stats-for-september-2012-largest-decline-in-listings-ever","status":"publish","type":"page","link":"https:\/\/investwithanedge.com\/etf-stats-for-september-2012-largest-decline-in-listings-ever\/","title":{"rendered":"ETF Stats for September 2012 \u2013 Largest Decline In Listings Ever"},"content":{"rendered":"
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The quantity of ETP listings at the end of September was 18 fewer for the month and 20 fewer for the quarter, the largest declines ever.\u00a0 The one-month closure tally of 24 also established a new record.\u00a0 The current ETP listing count now stands at 1,456 and consists of 1,252 ETFs and 204 ETNs.\u00a0 As stated a month ago \u2013\u00a0the consolidation has begun<\/a>.<\/p>\n

It\u2019s not just due to the fact that closures have jumped \u2013 declines in new product launches are also a factor.\u00a0 The 61 new products coming to market during the past half year is the lowest 6-month count since October 2009.\u00a0 Only six new ETPs (five ETFs and one ETN) arrived on the market in September, the second month in a row for such a low total.<\/p>\n

There are no signs of improvement either.\u00a0 October will set another new record for closures with 29 liquidations already announced.<\/p>\n

Many ETF reports would lead you to believe\u00a0Russell has already closed 25 ETFs this year, pushing the year-to-date closure count above 80.\u00a0 However, the reality is\u00a0no Russell ETFs have been closed or liquidated yet.\u00a0 Back in August, Russell \u201cannounced plans<\/a>\u201d to close and liquidate all ETFs but one in its product line.\u00a0 Those plans provided for the\u00a0continued listing and trading of the affected ETFs through October 16.\u00a0 The 25 Russell ETFs are still in existence today, so don\u2019t count your\u00a0de-listings before they close.\u00a0 The year-to-date actual closure count now stands at 59.<\/p>\n

The spike in closures and resulting product consolidation are not signs of industry weakness.\u00a0 Quite the opposite, they are traits of a healthy industry.\u00a0 Not every product will be a winner.\u00a0 A thoughtful pruning process is both necessary and beneficial.<\/p>\n

Increasing assets under management is evidence of health, and assets grew another 5% in September to about $1.3 trillion. \u00a0The number of funds with more than $10 billion in assets rose from 24 to 28.\u00a0 ETPs exceeding the $1 billion threshold climbed from 166 to 173.<\/p>\n

Trading activity finally picked up after months of declining results.\u00a0 Total dollar volume climbed back above $1 trillion, even though September had 17% fewer trading days than August (19 versus 23).\u00a0 SPDR S&P 500 (SPY) fell short of being responsible for a third of all ETP trading for the first time in memory.\u00a0 It managed to capture \u201conly\u201d a 33.2% share.<\/p>\n

ETPs averaging more than $1 billion per day in trading added one member to their ranks and captured 53.4% of all ETP trading activity.\u00a0 Products averaging more than $100 million per day surged from 53 to 73 while capturing 88.0% of trading activity.\u00a0 The quantity with more than $10 million of daily trading also increased, jumping from 208 to 236 while grabbing 97.3% of trading dollars.\u00a0 Unfortunately, that means the remaining 1,200+ products, about 84%, had to fight for the last 2.7% of trading scraps.\u00a0 While the overall ETF industry is healthly, it\u2019s clearly a case of the haves and the have-nots.<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
September 2012 Month End<\/th>\nETFs<\/th>\nETNs<\/th>\nTotal<\/th>\n<\/tr>\n<\/thead>\n
Currently Listed U.S.<\/td>\n1,252<\/td>\n204<\/td>\n1,456<\/td>\n<\/tr>\n
Listed as of 12\/31\/2011<\/td>\n1,166<\/td>\n203<\/td>\n1,369<\/td>\n<\/tr>\n
New Introductions for Month<\/td>\n5<\/td>\n1<\/td>\n6<\/td>\n<\/tr>\n
Delistings\/Closures for Month<\/td>\n9<\/td>\n15<\/td>\n24<\/td>\n<\/tr>\n
Net Change for Month<\/td>\n-4<\/td>\n-14<\/td>\n-18<\/td>\n<\/tr>\n
New Introductions 6 Months<\/td>\n54<\/td>\n7<\/td>\n61<\/td>\n<\/tr>\n
New Introductions YTD<\/td>\n130<\/td>\n16<\/td>\n146<\/td>\n<\/tr>\n
Delistings\/Closures YTD<\/td>\n44<\/td>\n15<\/td>\n59<\/td>\n<\/tr>\n
Net Change YTD<\/td>\n+86<\/td>\n+1<\/td>\n+87<\/td>\n<\/tr>\n
Actively-Managed Listings<\/td>\n54<\/td>\n–<\/td>\n54<\/td>\n<\/tr>\n
Assets Under Mgmt ($ billion)<\/td>\n$1,281<\/td>\n$17.6<\/td>\n$1,299<\/td>\n<\/tr>\n
% Change in Assets for Month<\/td>\n+5.1%<\/td>\n-1.1%<\/td>\n+5.0%<\/td>\n<\/tr>\n
Qty AUM > $10 Billion<\/td>\n28<\/td>\n0<\/td>\n28<\/td>\n<\/tr>\n
Qty AUM > $1 Billion<\/td>\n170<\/td>\n3<\/td>\n173<\/td>\n<\/tr>\n
Qty AUM > $100 Million<\/td>\n541<\/td>\n24<\/td>\n565<\/td>\n<\/tr>\n
Monthly $ Volume ($ billion)<\/td>\n$1,024<\/td>\n$18.6<\/td>\n$1,043<\/td>\n<\/tr>\n
% Change in Monthly $ Volume<\/td>\n+5.2%<\/td>\n+0.0%<\/td>\n+5.2%<\/td>\n<\/tr>\n
Avg Daily $ Volume > $1 Billion<\/td>\n6<\/td>\n0<\/td>\n6<\/td>\n<\/tr>\n
Avg Daily $ Volume > $100 Million<\/td>\n71<\/td>\n2<\/td>\n73<\/td>\n<\/tr>\n
Avg Daily $ Volume > $10 Million<\/td>\n227<\/td>\n9<\/td>\n236<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Data sources:\u00a0 Daily prices and volume of individual ETPs from Norgate Premium Data.\u00a0 Fund counts and all other information compiled by Invest With An Edge. <\/p>\n

New products launched in September\u00a0<\/strong>(sorted by launch date):<\/p>\n

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  1. RBS US Large Cap Alternator ETN (ALTL) [New RBS ETN Alternates Between 3 Large Cap Weighting Schemes<\/a>]<\/li>\n
  2. iShares MSCI Frontier 100 Index Fund (FM) [An MSCI Frontier ETF Finally Arrives<\/a>]<\/li>\n
  3. AdvisorShares STAR Global Buy-Write ETF (VEGA) [VEGA ETF Has Mystery Target]<\/li>\n
  4. WisdomTree China Dividend Ex-Financials Fund (CHXF) [WisdomTree China Dividend Ex-Financials ETF Is Nearly Ex-Health Care, Too<\/a>]<\/li>\n
  5. FlexShares Morningstar Developed Markets ex-US Factor Tilt Index Fund (TLTD) [New FlexShares ETFs Tilt International Markets<\/a>]<\/li>\n
  6. FlexShares Morningstar Emerging Markets Factor Tilt Index Fund (TLTE)<\/li>\n<\/ol>\n

    Product closures\/delistings in September\u00a0<\/strong>(sorted by name):<\/p>\n

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    1. Direxion Daily Agribusiness Bull 3x (COWL) [Direxion Closing Nine Leveraged and Inverse ETFs<\/a>]<\/li>\n
    2. Direxion Daily Agribusiness Bear 3x (COWS)<\/li>\n
    3. Direxion Daily Basic Materials Bear 3x (MATS)<\/li>\n
    4. Direxion Daily BRIC Bull 3x (BRIL)<\/li>\n
    5. Direxion Daily BRIC Bear 3x (BRIS)<\/li>\n
    6. Direxion Daily Healthcare Bear 3x (SICK)<\/li>\n
    7. Direxion Daily India Bear 3x (INDZ)<\/li>\n
    8. Direxion Daily Latin America Bear 3x (LHB)<\/li>\n
    9. Direxion Daily Retail Bear 3x (RETS)<\/li>\n
    10. ETRACS 1-Month S&P 500 VIX Futures ETN (VXAA) [UBS Closing a Dozen VIX ETRACS ETNs<\/a>]<\/li>\n
    11. ETRACS 2-Month S&P 500 VIX Futures ETN (VXBB)<\/li>\n
    12. ETRACS 3-Month S&P 500 VIX Futures ETN (VXCC)<\/li>\n
    13. ETRACS 4-Month S&P 500 VIX Futures ETN (VXDD)<\/li>\n
    14. ETRACS 5-Month S&P 500 VIX Futures ETN (VXEE)<\/li>\n
    15. ETRACS 6-Month S&P 500 VIX Futures ETN (VXFF)<\/li>\n
    16. ETRACS Daily Short 1-Month S&P VIX Futures ETN (AAVX)<\/li>\n
    17. ETRACS Daily Short 2-Month S&P VIX Futures ETN (BBVX)<\/li>\n
    18. ETRACS Daily Short 3-Month S&P VIX Futures ETN (CCVX)<\/li>\n
    19. ETRACS Daily Short 4-Month S&P VIX Futures ETN (DDVX)<\/li>\n
    20. ETRACS Daily Short 5-Month S&P VIX Futures ETN (EEVX)<\/li>\n
    21. ETRACS Daily Short 6-Month S&P VIX Futures ETN (FFVX)<\/li>\n
    22. iPath Short Extended (-3x) Russell 1000 TR ETN (ROSA) [SFSA and ROSA Hit Early Termination Trigger]<\/li>\n
    23. iPath Short Extended (-3x) Russell 2000 TR ETN (RTSA) [RTSA: Another Day, Another iPath Early Termination<\/a>]<\/li>\n
    24. iPath Short Extended (-3x) S&P 500 TR Index ETN (SFSA)<\/li>\n<\/ol>\n

      Product changes in September:<\/strong><\/p>\n

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      1. Global X changed the name, ticker symbol, and underlying index of the Global X S&P\/TSX Venture 30 Canada ETF (TSXV) to Global X Junior Miners ETF (JUNR) effective September 6.\u00a0 Although\u00a0Global X trumpeted JUNR as a \u201cnew\u201d ETF launch\u00a0(pdf), it was actually just a marketing ploy, as\u00a0TSXV was already a junior miners ETF<\/a>.<\/li>\n
      2. ProShares Ultra VIX Short-Term Futures ETF (UVXY) underwent a 1-for-10 reverse split effective September 7, 2012.<\/li>\n
      3. Guggenheim Russell Top 50 ETF (XLG) was renamed Guggenheim Russell Top 50 Mega Cap ETF (XLG) effective September 10, 2012.<\/li>\n
      4. ETRACS Monthly 2xLeveraged Next Generation Internet ETN (EIPL) underwent a 1-for-4 reverse split effective September 12, 2012.<\/li>\n
      5. Schwab cut the expense ratio on all 15 of its ETFs\u00a0effective September 21, with each becoming the lowest cost offerings within their respective categories.<\/li>\n
      6. Market Vectors Coal ETF (KOL) and Market Vectors Gaming ETF (BJK) changed from using third-party indexes to in-house indexes effective September 24, 2012.<\/li>\n<\/ol>\n

        Announced Product Changes for Coming Months:<\/strong><\/p>\n

          \n
        1. Vanguard will change the underlying indexes for 22 of its funds\u00a0over the coming months.\u00a0 Six international funds will move from MSCI to FTSE indexes while 16 domestic products will transition from MSCI to CRSP indexes.<\/li>\n
        2. Eight ProShares ETFs (TBT, SDS, SDOW, SMN, UBR, RXD, SZK, and GLL) will undergo a 1-for-4 reverse split and SVXY\u00a0a 2-for-1 forward split effective October 5, 2012.<\/li>\n
        3. Russell is making a strategic exit from the indexed ETF business\u00a0by closing all 25 of its indexed ETFs, while leaving open its one actively managed ETF.\u00a0 The last day of trading will be October 16, 2012.<\/li>\n
        4. Global X will\u00a0close four of its struggling ETFs.\u00a0 October 18 will be the last day of trading for Global X Aluminum ETF (ALUM), Global X Auto ETF (VROM), Global X NASDAQ 400 Mid Cap ETF (QQQM), and Global X NASDAQ 500 ETF (QQQV).<\/li>\n
        5. Guggenheim BulletShares 2012 Corporate Bond (BSCC) will\u00a0terminate on or about December 31\u00a0due to its planned maturity and liquidation.<\/li>\n
        6. Guggenheim BulletShares 2012 High Yield Corporate Bond (BSJC) will\u00a0terminate on or about December 31\u00a0due to its planned maturity and liquidation.<\/li>\n<\/ol>\n

          Previous monthly ETF statistics reports are available\u00a0here.<\/p>\n

          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. \u00a0No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

          The quantity of ETP listings at the end of September was 18 fewer for the month and 20 fewer for the quarter, the largest declines ever.\u00a0 The one-month closure tally of 24 also established a new record.\u00a0 The current ETP listing count now stands at 1,456 and consists of 1,252 ETFs and 204 ETNs.\u00a0 As …<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"acf":[],"_links":{"self":[{"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/pages\/1789"}],"collection":[{"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/comments?post=1789"}],"version-history":[{"count":0,"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/pages\/1789\/revisions"}],"wp:attachment":[{"href":"https:\/\/investwithanedge.com\/wp-json\/wp\/v2\/media?parent=1789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}