52-Week Low? There's A New ETF For That (YMLP, FDTS, SLVP)

Well, March has certainly lived up to its historical billing as a month the ends poorly for equities. Looking at the Stock Trader's Almanac, one will see that March 29 and 30 are typically down days for stocks. In the last trading day of March, the S&P 500 and the Dow Jones Industrial Average only close higher about 40% of the time. All of that is to say it's not surprising that some new ETFs have been struggling. However, there is struggling to gain attention and assets from investors and then there is struggling to perform well. New ETFs that are plagued by the second of those dilemmas have different reasons for being in that position, but the reality is there are now several new ETFs trading at their lowest levels since coming to market. Here are a few that earn that dubious distinction, a couple of which might be worth keeping an eye on as rebound plays. Market Vectors Unconventional Oil & Gas ETF FRAK Now six weeks old, the Market Vectors Unconventional Oil & Gas ETF is not a case of a bad idea. Raking in almost $17 million in assets under management since its debut indicates FRAK is actually a pretty good idea. The problem here is awful timing. Larger, more established energy ETFs such as the Energy Select Sector SPDR XLE and the SPDR S&P Oil & Gas Exploration & Production ETF XOP have been getting hammered lately, so there is just no way that FRAK was going to avoid that unfortunate series of events. Along those lines, FRAK would be one of the new ETFs worth considering as a buy on the dip candidate. iShares MSCI Global Silver Miners Fund SLVP Sometimes, it's a good thing when an ETF offers an excessive weight to just one stock. More often than not, that stock is Apple AAPL. Obviously, Apple doesn't mine silver. Long story short, SLVP devotes almost 19% of its weight to Silver Wheaton SLW, a stock that has plunged almost 19% in the past month. As of this writing, SLVP is trading one penny above its lowest price since the ETF's late January debut. It may not be saying much, but the Global X Silver Miners ETF SIL has outperformed SLVP this month. First Trust Developed Markets Ex-US Small Cap AlphaDEX Fund FDTS The First Trust Developed Markets Ex-US Small Cap AlphaDEX Fund is a curious case not only because of its slack performance, but because near as we can tell, the ETF hasn't traded in a while. Yahoo Finance indicates the last quote for this ETF was on March 14. That's a shame because given the way emerging markets are acting at the moment, developed market ETFs could benefit as investors look global alternatives. The last quote on FDTS is $30.44, the lowest price for the fund since its February 15 debut. Yorkville High Income MLP ETF YMLP To be sure, investors have loved MLPs for several years and the exchange-traded products industry has taken advantage of that trend. For the most part, providers have offered ETNs tracking MLPs as the Yorkville High Income MLP ETF is just the second ETF devoted to this high-yielding asset class. As we noted earlier this week, YMLP and its rival, the ALPS Alerian MLP ETF AMLP, are two ETFs that do NOT have C-corp. Structure and that's bad for investors in these funds because it raises their costs. To add insult to injury, YMLP is down almost 3% since its debut and is now trading at its lowest point since its mid-March debut.