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ETF Deathwatch For November 2018

SeekingAlpha

By Jason Teed

For the month of November, the ETF Deathwatch considerably elevated in measurement. Twenty-two exchange-traded merchandise (“ETPs”) have been added to the record and 9 funds have been eliminated. Of the removals, six have been eliminated on account of elevated well being and solely three have been because of asset managers closing their funds. It is potential that many fund corporations have been extra involved with current market motion than taking a look at their product lineups.

For November, seven of the brand new additions to the record have been younger funds, having simply come out of their incubation interval. This preliminary interval is allowed to let new funds collect belongings and curiosity earlier than contemplating them as “at risk” belongings. Nevertheless, three of the brand new additions have been greater than four years previous, which is a very dangerous signal because it signifies declining curiosity in a longtime product. Except for an equally-weighted Russell Mid-Cap ETF, these older ETFs embrace leveraged, brief, and different area of interest merchandise that will not all the time garner sufficient curiosity. Almost all additions to the listing have been merchandise serving solely a distinct segment of the monetary markets.

All however one of many additions this month have been as a result of low common every day quantity relatively than low belongings. It’s potential that these additions might have sufficient belongings beneath administration (“AUM”) to maintain them from closure; nevertheless, our system takes under consideration each AUM and quantity. Ought to quantity and curiosity stay low, these funds could be thought-about for closure. A triple-leveraged brief pure fuel ETN was the only fund added on account of low belongings. Pure fuel has loved worth will increase this yr, so it is no shock that this fund is having a tough time attracting belongings.

There are 58 ETFs and ETNs on Deathwatch this month which were out there for greater than 10 years. This can be a very long time for ETPs to exist whereas remaining on our Deathwatch record. The ProShares Extremely Yen ETF (NYSEARCA:YCL) just lately hit the 10-year mark, whereas a plethora of leveraged and brief ETF devices dominate our record of funds older than 10 years. It is potential that the fund corporations managing these merchandise will permit them to stay lively, as they play a bigger position for his or her shoppers which are serious about lively administration.

The typical asset degree of the threatened ETFs on ETF Deathwatch elevated barely from $7.58 million to $7.85 million, and 42 merchandise had lower than $2 million in belongings. The typical age of merchandise on the record elevated barely from 50.28 to 50.69 months, and the variety of merchandise greater than 5 years of age decreased from 132 to 131. The most important ETF on the record had an AUM of $24.96 million, whereas the smallest had belongings of simply $432,000.

Right here is the Full Record of 438 ETFs and ETNs on ETF Deathwatch for November 2018 compiled utilizing the target ETF Deathwatch Standards.

The 22 ETF/ETNs added to ETF Deathwatch for November:

  1. AI Powered Worldwide Fairness ETF (NYSEARCA:AIIQ)
  2. iPath Collection B Bloomberg Cotton Subindex Complete Return ETN (NYSEARCA:BAL)
  3. Amplify Superior Battery Metals & Supplies ETF (NYSEARCA:BATT)
  4. REX BKCM ETF (NYSEARCA:BKC)
  5. ETF Collection Options-Model Worth Etf (NYSEARCA:BVAL)
  6. Innovator S&P Funding Grade Most popular ETF (BATS:EPRF)
  7. Invesco Russell MidCap Equal Weight ETF (NYSEARCA:EQWM)
  8. Barclays ETN+ FI Enhanced Europe 50 ETN Collection B (NYSEARCA:FLEU)
  9. Franklin Liberty Worldwide Combination Bond ETF (FLIA)
  10. Direxion Day by day Pure Fuel Associated Bear 3X Shares (NYSEARCA:GASX)
  11. US International GO Gold & Valuable Metallic Miners ETF (NYSEARCA:GOAU)
  12. iShares Foreign money Hedged MSCI Spain ETF (NYSEARCA:HEWP)
  13. iShares Gold Technique ETF (BATS:IAUF)
  14. Pacer Funds Belief-Pacer Benchmark Industrial Actual Property Sctr Etf (NYSEARCA:INDS)
  15. ARK Israel Revolutionary Know-how ETF (BATS:IZRL)
  16. iPath Collection B Bloomberg Copper Subindex Complete Return ETN (NYSEARCA:JJC)
  17. PortfolioPlus S&P Mid Cap ETF (NYSEARCA:PPMC)
  18. VanEck Vectors ETF Belief-VanEck Vectors Actual Asset Allocation Etf (NYSEARCA:RAAX)
  19. Pacer Funds Belief-Pacer Benchmark Retail Actual Property Sctr Etf (NYSEARCA:RTL)
  20. Alphamark Actively Managed Small Cap ETF (NASDAQ:SMCP)
  21. American Power Independence ETF (NYSEARCA:USAI)
  22. Validea Market Legends ETF (NASDAQ:VALX)

The 6 ETFs/ETNs faraway from ETF Deathwatch as a consequence of improved well being:

  1. Market Vectors Double Brief Euro ETN (NYSEARCA:DRR)
  2. First Belief Dow 30 Equal Weight ETF (NYSEARCA:EDOW)
  3. VictoryShares US Multi-Issue Minimal Volatility ETF (NASDAQ:VSMV)
  4. AGFiQ US Market Impartial Anti-Beta Fund (NYSEARCA:BTAL)
  5. iShares Curiosity Price Hedged Rising Markets Bond ETF (NYSEARCA:EMBH)
  6. ProShares UltraShort MSCI Japan (NYSEARCA:EWV)

The three ETFs that have been closed:

  1. QuantX Danger Managed Multi-Asset Revenue ETF (BATS:QXMI)
  2. QuantX Danger Managed Actual Return ETF (BATS:QXRR)
  3. Virtus Enhanced Brief US Fairness Etf (NYSEARCA:VESH)

Disclosure: Writer has no positions in any of the securities talked about and no positions in any of the businesses or ETF sponsors talked about. No revenue, income, or different compensation (both instantly or not directly) is acquired from, or on behalf of, any of the businesses or ETF sponsors talked about.

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