U.S. exchange traded product delistings and closures totaled 49 in 2010, consisting entirely of ETFs (no ETNs). The lifetime tally now stands at 173 (160 ETFs and 13 ETNs). The 49 closures represent a 12.5% drop from 2009 and mark the second straight year the quantity has declined.
Closures affected nine different sponsors, with two making a 100% exit from the market: Old Mutual decided to terminate its GlobalShares line and the NYSE initiated the delisting of Geary ETFs. Sponsors closing a portion of their product lines included Claymore (now named Guggenheim), Direxion, Grail, Javelin/JETS, PowerShares, Rydex, and WisdomTree.
Claymore/Sabrient Stealth ETF (STH) is no longer with us, but it is not part of the official closure statistics for 2010. STH ceased to exist after August 19, but rather than close the fund, Claymore/Guggenheim decided to perform an extreme ETF makeover. The next day it began trading as Wilshire Micro-Cap ETF (WMCR), with a new name, new ticker, new underlying index, and a new objective.
The average age of funds that closed in 2010 was 28.2 months. This is significantly above the 19.6-month average lifespan of all 173 closed products. This suggests that sponsors are becoming more patient with new funds, giving them a longer period in which to prove their viability.
ETF & ETN Closures of 2010
| Count | Ticker | Name | Last Day |
|---|---|---|---|
| 1 | EEZ | WisdomTree Earnings Top 100 Fund | 03/24/2010 |
| 2 | DEB | WisdomTree Europe Total Dividend | 03/24/2010 |
| 3 | DGG | WisdomTree International Communications | 03/24/2010 |
| 4 | DPC | WisdomTree International Consumer Discretionary | 03/24/2010 |
| 5 | DPN | WisdomTree International Consumer Staples | 03/24/2010 |
| 6 | DRF | WisdomTree International Financial | 03/24/2010 |
| 7 | DBR | WisdomTree International Health Care | 03/24/2010 |
| 8 | DDI | WisdomTree International Industrial | 03/24/2010 |
| 9 | DBT | WisdomTree International Technology | 03/24/2010 |
| 10 | USY | WisdomTree U.S. Short-Term Govt Income | 03/24/2010 |
| 11 | SEA | Claymore/Delta Global Shipping | 04/27/2010 |
| 12 | RRY | Rydex 2x Russell 2000 ETF | 05/21/2010 |
| 13 | RMM | Rydex 2x S&P MidCap 400 ETF | 05/21/2010 |
| 14 | REA | Rydex 2x S&P Select Sector Energy ETF | 05/21/2010 |
| 15 | RFL | Rydex 2x S&P Select Sector Financial ETF | 05/21/2010 |
| 16 | RHM | Rydex 2x S&P Select Sector Health Care ETF | 05/21/2010 |
| 17 | RTG | Rydex 2x S&P Select Sector Technology ETF | 05/21/2010 |
| 18 | RRZ | Rydex Inverse 2x Russell 2000 ETF | 05/21/2010 |
| 19 | RMS | Rydex Inverse 2x S&P MidCap 400 ETF | 05/21/2010 |
| 20 | REC | Rydex Inverse 2x Select Sector Energy ETF | 05/21/2010 |
| 21 | RFN | Rydex Inverse 2x Select Sector Financial ETF | 05/21/2010 |
| 22 | RHO | Rydex Inverse 2x Select Sector Health Care ETF | 05/21/2010 |
| 23 | RTW | Rydex Inverse 2x Select Sector Technology ETF | 05/21/2010 |
| 24 | RFF | Grail RP Financials ETF | 08/27/2010 |
| 25 | RPQ | Grail RP Technology ETF | 08/27/2010 |
| 26 | EXB | Claymore/Beacon Global Exchanges, Brokers & Asset Managers | 09/10/2010 |
| 27 | ROB | Claymore/Robb Report Global Luxury Index ETF | 09/10/2010 |
| 28 | CRO | Claymore/Zacks Country Rotation ETF | 09/10/2010 |
| 29 | IRO | Claymore/Zacks Dividend Rotation ETF | 09/10/2010 |
| 30 | OOK | Geary OOK, Inc. | 09/24/2010 |
| 31 | TXF | Geary TXF Large Companies ETF | 09/24/2010 |
| 32 | GSZ | GlobalShares FTSE All-Cap AsiaPac ex-Japan | 10/05/2010 |
| 33 | GSO | GlobalShares FTSE All-World ex-US Fund | 10/05/2010 |
| 34 | GSW | GlobalShares FTSE All-World Fund | 10/05/2010 |
| 35 | GSD | GlobalShares FTSE Dev Countries ex US | 10/05/2010 |
| 36 | GSR | GlobalShares FTSE Emerging Markets | 10/05/2010 |
| 37 | JVS | JETS DJ Islamic Market International | 10/19/2010 |
| 38 | TWOZ | Direxion Daily 2-Year Treasury Bear 3x | 11/30/2010 |
| 39 | TWOL | Direxion Daily 2-Year Treasury Bull 3x | 11/30/2010 |
| 40 | PTJ | PowerShares Dynamic Healthcare Services Portfolio | 12/14/2010 |
| 41 | PTE | PowerShares Dynamic Telecommunications & Wireless Portfolio | 12/14/2010 |
| 42 | PQSC | PowerShares FTSE NASDAQ Small Cap Portfolio | 12/14/2010 |
| 43 | PEF | PowerShares FTSE RAFI Europe Portfolio | 12/14/2010 |
| 44 | PJO | PowerShares FTSE RAFI Japan Portfolio | 12/14/2010 |
| 45 | PBTQ | PowerShares Global Biotech Portfolio | 12/14/2010 |
| 46 | PTRP | PowerShares Global Progressive Transportation Portfolio | 12/14/2010 |
| 47 | PQBW | PowerShares NASDAQ-100 BuyWrite Portfolio | 12/14/2010 |
| 48 | PNXQ | PowerShares NXQ Portfolio | 12/14/2010 |
| 49 | PZJ | PowerShares Zacks Small Cap Portfolio | 12/14/2010 |
Additional resources:
- List of 56 ETF Closures in 2009
- List of 58 ETF Closures in 2008
- Free weekly newsletter to stay abreast of future ETF closings
- Catalog of ETF Closure Articles
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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