ETF Deathwatch for November 2011: Count Surges to Record High

by Ron, Benzinga Contributor
November 8, 2011 12:03 PM | 33 min read | Make a Comment

ETF Deathwatch membership surges to an all time high for November.  Thirty-seven new names are joining the list, while only a dozen are leaving.  The net increase of 25 products boosts the count to 211, representing a 13% increase over the 186 for October.  The current list contains 154 ETFs and 57 ETNs with an average age of about 26 months and average assets of less than $6 million. 

It appears the huge jump in the number of products now fighting for their survival is a direct result of the record pace of exchange traded product launches this year.  The 275 new arrivals during the first ten months of the year are more than the market can absorb. 

This is the first month of ETF Deathwatch eligibility for the 43 products introduced in April, as all new funds receive a six-month grace period to give them time to gain traction with investors.  Only a dozen of those April launches are currently showing any promise, with the remaining 31 moving directly onto ETF Deathwatch.  The six other funds joining the list have been around a while longer but have suffered a recent drop in assets or trading activity.

Barclay's iPath ETNs account for nearly half of the new additions, including 16 of the new “pure beta” commodity ETNs along with two others.  First Trust also has a large percentage of the new names this month.

Another Barclay's product, the iPath US Treasury 5-Year Bull ETN (DFVL), has the dubious distinction of being the only ETP with zero volume for the month of October.  It was launched in July and is currently too young to be included in ETF Deathwatch, but a month with zero volume pretty much seals its fate.

The 37 ETPs added to ETF Deathwatch:

  1. AdvisorShares Mars Hill Global Relative Value (GRV)
  2. FactorShares 2X: S&P500 Bull/USD Bear (FSU)
  3. First Trust Asia Pacific Ex-Japan AlphaDEX (FPA)
  4. First Trust China AlphaDEX Fund (FCA)
  5. First Trust Europe AlphaDEX Fund (FEP)
  6. First Trust Japan AlphaDEX (FJP)
  7. First Trust Latin America AlphaDEX (FLN)
  8. First Trust Mid Cap Value AlphaDEX (FNK)
  9. First Trust Small Cap Value AlphaDEX (FYT)
  10. First Trust South Korea AlphaDEX (FKO)
  11. Global X Waste Management ETF (WSTE)
  12. iPath Pure Beta Agriculture ETN (DIRT)
  13. iPath Pure Beta Aluminum ETN (FOIL)
  14. iPath Pure Beta Broad Commodity ETN (BCM)
  15. iPath Pure Beta Cocoa ETN (CHOC)
  16. iPath Pure Beta Coffee ETN (CAFE)
  17. iPath Pure Beta Copper ETN (CUPM)
  18. iPath Pure Beta Cotton ETN (CTNN)
  19. iPath Pure Beta Crude Oil ETN (OLEM)
  20. iPath Pure Beta Energy ETN (ONG)
  21. iPath Pure Beta Grains ETN (WEET)
  22. iPath Pure Beta Industrial Metals ETN (HEVY)
  23. iPath Pure Beta Lead ETN (LEDD)
  24. iPath Pure Beta Nickel ETN (NINI)
  25. iPath Pure Beta Precious Metals ETN (BLNG)
  26. iPath Pure Beta S&P GSCI-Weighted ETN (SBV)
  27. iPath Pure Beta Softs ETN (GRWN)
  28. iPath Seasonal Natural Gas ETN (DCNG)
  29. iPath US Treasury Steepener ETN (STPP)
  30. Market Vectors Germany Small-Cap ETF (GERJ)
  31. Market Vectors Russia Small-Cap ETF (RSXJ)
  32. ProShares Ultra High Yield (UJB)
  33. ProShares Ultra Investment Grade Corporate (IGU)
  34. ProShares UltraShort 3-7 Year Treasury (TBZ)
  35. RevenueShares Financials Sector Fund (RWW)
  36. UBS ETRACS 1x Mthly Short Alerian MLP ETN (MLPS)
  37. UBS ETRACS Wells Fargo BDC ETN (BDCS)

The 12 ETPs removed from ETF Deathwatch:

  1. Direxion Airline Shares (FLYX) [FLYX fails to fly and is delisted 10/10/11]
  2. Guggenheim Ocean Tomo Growth Index ETF (OTR)
  3. iPath JPY/USD Exchange Rate ETN (JYN)
  4. iShares 10+ Year Government/Credit Bond (GLJ)
  5. iShares S&P Target Date 2010 Index Fund (TZD)
  6. iShares S&P Target Date 2015 Index Fund (TZE)
  7. iShares S&P Target Date 2025 Index Fund (TZI)
  8. PowerShares DB 3x Long 25+ Treasury ETN (LBND)
  9. PowerShares Fundamental Pure Small Core (PXSC)
  10. SPDR S&P International Financial (IPF)
  11. UBS ETRACS S&P 500 Gold Hedged Index ETN (SPGH)
  12. WisdomTree Dreyfus Japan Yen (JYF)

The ETF Deathwatch criteria produced the following list of 211 ETPs for November:

ETF Deathwatch for November 2011

# Ticker Sym ETF Name Age (mths) AUM (millions) 3-mth Avg Daily $ Volume
1 DENT AdvisorShares Dent Tactical ETF 25.8 $14 $89,361
2 GRV AdvisorShares Mars Hill Global Relative Value 16.0 $4 $85,760
3 AADR AdvisorShares WCM/BNY Mellon Foc Gr ADR 15.6 $6 $178,673
4 PGD Barclays Asian&Gulf Currency Reval. ETN 41.0 $4 $32,650
5 BXDC Barclays ETN+ S&P 500 2x Short C 2009 ETN 23.7 $3 $511,206
6 JEM Barclays GEMS Currency Index ETN 45.6 $4 $41,661
7 GCE Claymore CEF Index GS Connect ETN 47.4 $3 $20,556
8 GVT Columbia Concentrated Large Cap Value Strat 30.3 $3 $3,064
9 GMTB Columbia Core Bond Strategy Fund 21.3 $5 $81,462
10 RPX Columbia Growth Equity Strategy Fund 25.3 $2 $21,467
11 GMMB Columbia Intermediate Municipal Bond Strategy 21.3 $5 $9,077
12 RWG Columbia Large-Cap Growth Equity 25.3 $9 $33,276
13 FXRU CurrencyShares Russian Ruble Shares 36.2 $5 $69,566
14 TDD db-X 2010 Target Date Fund 49.7 $14 $25,272
15 TDX db-X In-Target Date Fund 49.7 $16 $28,546
16 TYBS Direxion Daily 20+ Year Treasury Bear 1x 7.4 $3 $21,082
17 TYNS Direxion Daily 7-10 Year Treasury Bear 1x 7.4 $4 $23,088
18 BRIS Direxion Daily BRIC Bear 2x 20.0 $3 $63,903
19 BRIL Direxion Daily BRIC Bull 2x 20.0 $5 $92,391
20 INDZ Direxion Daily India Bear 2x 20.0 $3 $187,041
21 LHB Direxion Daily Latin America Bear 3x 23.2 $5 $874,934
22 GASX Direxion Daily Natural Gas Related Bear 2x 15.8 $3 $258,086
23 RETS Direxion Daily Retail Bear 2x 15.8 $2 $148,797
24 RETL Direxion Daily Retail Bull 2x 15.8 $3 $158,811
25 FGEM EGShares Financials GEMS ETF 25.8 $5 $35,289
26 GWO ELEMENTS CS Global Warming ETN 43.5 $3 $14,786
27 DOD ELEMENTS Dogs of the Dow Total Return ETN 48.4 $5 $84,215
28 WMW ELEMENTS Morningstar Wide Moat Focus ETN 49.1 $10 $67,667
29 EEH ELEMENTS Spctrm LgCap US Sector Mo ETN 51.7 $1 $365
30 EAPS ESG Shares Pax MSCI EAFE ESG Index ETF 9.2 $2 $37,910
31 FOL FactorShares 2X: Oil Bull/S&P500 Bear 8.3 $2 $67,935
32 FSE FactorShares 2X: S&P500 Bull/TBond Bear 8.3 $1 $34,632
33 FSU FactorShares 2X: S&P500 Bull/USD Bear 8.3 $2 $75,821
34 FSA FactorShares 2X: TBond Bull/S&P500 Bear 8.3 $3 $144,028
35 FPA First Trust Asia Pacific Ex-Japan AlphaDEX 6.5 $2 $31,926
36 FCA First Trust China AlphaDEX Fund 6.5 $3 $24,291
37 FDD First Trust DJ STOXX European Select Div 50.8 $9 $96,079
38 FEP First Trust Europe AlphaDEX Fund 6.5 $2 $15,884
39 FJP First Trust Japan AlphaDEX 6.5 $4 $21,857
40 FLN First Trust Latin America AlphaDEX 6.5 $3 $20,892
41 FNK First Trust Mid Cap Value AlphaDEX 6.5 $3 $105,514
42 QABA First Trust NASDAQ ABA Community Bank 28.4 $12 $111,769
43 FONE First Trust NASDAQ CEA Smartphone 8.5 $15 $57,507
44 FYT First Trust Small Cap Value AlphaDEX 6.5 $2 $67,271
45 FKO First Trust South Korea AlphaDEX 6.5 $1 $30,390
46 FVI First Trust Value Line Equity Allocation 59.7 $6 $57,600
47 FBM Focus Morningstar Basic Materials Index ETF 7.2 $4 $35,339
48 FCQ Focus Morningstar Communication Srvcs ETF 7.2 $5 $13,759
49 FCL Focus Morningstar Consumer Cyclical ETF 7.2 $5 $10,296
50 FCD Focus Morningstar Consumer Defensive ETF 7.2 $5 $29,825
51 FEG Focus Morningstar Energy Index ETF 7.2 $4 $148,880
52 FFL Focus Morningstar Financial Services ETF 7.2 $4 $61,800
53 FHC Focus Morningstar Health Care Index ETF 7.2 $5 $36,482
54 FIL Focus Morningstar Industrials Index ETF 7.2 $5 $26,220
55 FLG Focus Morningstar Large Cap Index ETF 7.2 $5 $103,303
56 FMM Focus Morningstar Mid Cap Index ETF 7.2 $5 $45,679
57 FRL Focus Morningstar Real Estate Index ETF 7.2 $5 $26,248
58 FOS Focus Morningstar Small Cap Index ETF 7.2 $5 $82,006
59 FTQ Focus Morningstar Technology Index ETF 7.2 $5 $65,469
60 FUI Focus Morningstar Utilities Index ETF 7.2 $5 $35,882
61 ALUM Global X Aluminum ETF 10.0 $4 $65,463
62 BRAF Global X Brazil Financials ETF 15.3 $7 $51,592
63 CHIE Global X China Energy ETF 22.8 $5 $37,608
64 CHIX Global X China Financials ETF 23.0 $11 $241,919
65 CHII Global X China Industrial ETF 23.3 $5 $43,743
66 CHIM Global X China Materials ETF 21.8 $3 $34,870
67 CHIB Global X China Technology ETF 23.0 $5 $46,939
68 AND Global X FTSE Andean 40 ETF 9.0 $7 $65,368
69 ARGT Global X FTSE Argentina 20 ETF 8.1 $4 $60,183
70 XOIL Global X Oil Equities ETF 7.7 $3 $59,255
71 GGGG Global X Pure Gold Miners ETF 7.7 $5 $235,464
72 EMGX Global X Russell Emerging Markets Growth ETF 9.3 $2 $7,354
73 EMVX Global X Russell Emerging Markets Value ETF 9.3 $2 $11,729
74 TSXV Global X S&P/TSX Venture 30 Canada ETF 7.6 $3 $69,936
75 WSTE Global X Waste Management ETF 6.7 $2 $8,106
76 GIY Guggenheim Enhanced Core Bond ETF 45.2 $5 $54,865
77 GSY Guggenheim Enhanced Ultra-Short Bond ETF 45.2 $15 $95,904
78 EEN Guggenheim EW Euro-Pacific LDRs ETF 56.8 $3 $9,077
79 XGC Guggenheim International Small Cap LDRs 55.7 $7 $62,294
80 OTP Guggenheim Ocean Tomo Patent ETF 59.4 $10 $25,179
81 XRO Guggenheim Sector Rotation ETF 62.2 $14 $73,204
82 WXSP Guggenheim Wilshire 4500 Completion ETF 20.0 $6 $30,686
83 WFVK Guggenheim Wilshire 5000 Total Market ETF 20.0 $6 $52,452
84 EKH HOLDRS Europe 2001 131.3 $4 $19,375
85 IIH HOLDRS Internet Infrastructure 142.2 $10 $45,914
86 MKH HOLDRS Merrill Lynch Market 2000+ 136.0 $11 $32,068
87 WMH HOLDRS Wireless 133.9 $13 $12,962
88 GBB iPath GBP/USD Exchange Rate ETN 54.5 $3 $17,486
89 GRN iPath Global Carbon ETN 40.8 $2 $11,576
90 MFLA iPath Long Enh 2x MSCI EAFE Index ETN 11.2 $3 $22,289
91 EMLB iPath Long Enh 2x MSCI Emerging Mkts ETN 11.2 $4 $83,923
92 ROLA iPath Long Ext 3x Russell 1000 TR ETN 11.2 $5 $55,552
93 RTLA iPath Long Ext 3x Russell 2000 TR ETN 11.2 $4 $335,106
94 SFLA iPath Long Ext 3x S&P 500 TR Index ETN 11.2 $5 $591,555
95 DIRT iPath Pure Beta Agriculture ETN 6.4 $6 $59,614
96 FOIL iPath Pure Beta Aluminum ETN 6.4 $4 $1,757
97 BCM iPath Pure Beta Broad Commodity ETN 6.4 $10 $76,680
98 CHOC iPath Pure Beta Cocoa ETN 6.4 $4 $64,128
99 CAFE iPath Pure Beta Coffee ETN 6.4 $7 $94,895
100 CUPM iPath Pure Beta Copper ETN 6.4 $5 $28,262
101 CTNN iPath Pure Beta Cotton ETN 6.4 $6 $49,330
102 OLEM iPath Pure Beta Crude Oil ETN 6.4 $5 $52,930
103 ONG iPath Pure Beta Energy ETN 6.4 $5 $26,407
104 WEET iPath Pure Beta Grains ETN 6.4 $8 $119,160
105 HEVY iPath Pure Beta Industrial Metals ETN 6.4 $4 $14,742
106 LEDD iPath Pure Beta Lead ETN 6.4 $5 $84,527
107 NINI iPath Pure Beta Nickel ETN 6.4 $4 $17,977
108 BLNG iPath Pure Beta Precious Metals ETN 6.4 $7 $43,190
109 SBV iPath Pure Beta S&P GSCI-Weighted ETN 6.4 $5 $23,951
110 GRWN iPath Pure Beta Softs ETN 6.4 $7 $52,516
111 DCNG iPath Seasonal Natural Gas ETN 6.4 $5 $42,337
112 MFSA iPath Short Enh -2x MSCI EAFE Index ETN 11.2 $5 $31,089
113 ROSA iPath Short Ext -3x Russell 1000 TR ETN 11.2 $4 $142,530
114 STPP iPath US Treasury Steepener ETN 14.9 $3 $136,270
115 TWON IQ Taiwan Small Cap 17.7 $4 $35,740
116 RTL iShares FTSE NAREIT Retail Capped 54.6 $9 $56,840
117 AXDI iShares MSCI ACWI ex US Consumer Discr 15.7 $6 $12,637
118 AXSL iShares MSCI ACWI ex US Consumer Staples 15.7 $3 $26,926
119 AXEN iShares MSCI ACWI ex US Energy 15.7 $6 $41,028
120 AXFN iShares MSCI ACWI ex US Financials 21.6 $2 $17,215
121 AXHE iShares MSCI ACWI ex US Health Care 15.7 $6 $80,090
122 AXID iShares MSCI ACWI ex US Industrials 15.7 $3 $8,615
123 AXIT iShares MSCI ACWI ex US Info Technology 15.7 $3 $25,230
124 AXMT iShares MSCI ACWI ex US Materials 15.7 $6 $21,845
125 AXTE iShares MSCI ACWI ex US Telecom Services 15.7 $3 $26,965
126 AXUT iShares MSCI ACWI ex US Utilities 15.7 $2 $33,195
127 EMFN iShares MSCI Emerging Markets Financials 21.6 $6 $33,243
128 EMMT iShares MSCI Emerging Markets Materials 21.6 $9 $47,655
129 FEFN iShares MSCI Far East Financials Sector 21.6 $2 $2,486
130 EIRL iShares MSCI Ireland Cap. Investable Mkt 18.1 $7 $192,889
131 EUSA iShares MSCI USA Index Fund 18.1 $3 $196,388
132 NUCL iShares S&P Global Nuclear Energy 40.8 $14 $67,510
133 TZL iShares S&P Target Date 2030 Index Fund 36.4 $13 $144,498
134 TZO iShares S&P Target Date 2035 Index Fund 36.4 $8 $47,106
135 TZV iShares S&P Target Date 2040 Index Fund 36.4 $15 $77,286
136 TGR iShares S&P Target Date Retirement Inc. 36.4 $9 $153,117
137 CRBI Jefferies|TR/J CRB Global Ind Metals Equity 24.5 $4 $29,036
138 DSXJ JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN 13.0 $9 $117,834
139 DSTJ JPM Qtrly Dbl Short US Long Treas Fut ETN 13.0 $8 $61,050
140 JFT KEYnotes FT Enhanced 130/30 Large Cap ETN 41.9 $3 $6,835
141 COLX Market Vectors Colombia ETF 7.7 $2 $15,555
142 URR Market Vectors Double Long Euro ETN 42.4 $1 $39,109
143 GERJ Market Vectors Germany Small-Cap ETF 7.0 $3 $73,015
144 INR Market Vectors Indian Rupee/USD ETN 44.1 $5 $47,039
145 RSXJ Market Vectors Russia Small-Cap ETF 6.7 $4 $45,944
146 NASI Pax MSCI North America ESG Index 17.7 $5 $49,124
147 TRSY PIMCO Broad U.S. Treasury Index Fund 12.1 $19 $69,867
148 PMA PowerShares Active Mega-Cap Portfolio 43.2 $5 $46,780
149 JGBT PowerShares DB 3x Japanese G-Bond Fut ETN 7.4 $4 $11,244
150 ADZ PowerShares DB Agriculture Short ETN 43.1 $2 $33,205
151 BDG PowerShares DB Base Metals Long ETN 41.1 $2 $6,636
152 DEE PowerShares DB Commodity Dbl Short ETN 42.7 $3 $124,883
153 DPU PowerShares DB Commodity Long ETN 42.7 $6 $43,840
154 DDP PowerShares DB Commodity Short ETN 42.7 $8 $542,733
155 JGBL PowerShares DB Japanese G-Bond Fut ETN 7.4 $5 $2,371
156 PJB PowerShares Dynamic Banking 61.5 $13 $47,413
157 PEZ PowerShares Dynamic Cons Discretionary 61.5 $20 $133,316
158 PIC PowerShares Dynamic Insurance 73.2 $8 $28,890
159 PIQ PowerShares Dynamic Magniquant 61.5 $19 $53,180
160 PXMC PowerShares Fundamental Pure Mid Core 59.8 $21 $63,751
161 PSTL PowerShares Global Steel Portfolio 37.8 $4 $18,875
162 PTO PowerShares Ibbotson Alternative Completion 42.0 $9 $41,040
163 KBWX PowerShares KBW International Financial 11.1 $3 $5,023
164 KBWY PowerShares KBW Premium Yield Equity REIT 11.1 $7 $77,382
165 KBWP PowerShares KBW Property & Casualty Ins 11.1 $4 $3,268
166 PMNA PowerShares MENA Frontier Countries 40.3 $20 $65,449
167 PYH PowerShares Morningstar StockInvestor Core 59.8 $16 $33,810
168 PSCM PowerShares S&P SmallCap Materials 19.1 $6 $148,630
169 IGS ProShares Short Investment Grade Corporate 7.2 $2 $42,235
170 UJB ProShares Ultra High Yield 6.7 $2 $37,394
171 IGU ProShares Ultra Investment Grade Corporate 6.7 $2 $77,162
172 KRU ProShares Ultra KBW Regional Banking 18.6 $3 $284,073
173 UPV ProShares Ultra MSCI Europe 18.3 $3 $263,901
174 UMX ProShares Ultra MSCI Mexico Investable Mkt 18.3 $2 $21,244
175 UXJ ProShares Ultra MSCI Pacific Ex-Japan 18.3 $3 $147,127
176 UWC ProShares Ultra Russell3000 28.4 $7 $73,931
177 LTL ProShares Ultra Telecommunications 43.8 $3 $112,027
178 TBZ ProShares UltraShort 3-7 Year Treasury 7.0 $4 $51,041
179 RXD ProShares UltraShort Healthcare 57.8 $3 $122,731
180 SMK ProShares UltraShort MSCI Mexico 28.8 $3 $305,647
181 JPX ProShares UltraShort MSCI Pacific ex-Japan 28.8 $2 $67,044
182 BIS ProShares UltraShort Nasdaq Biotechnology 19.0 $4 $93,713
183 SFK ProShares UltraShort Russell 1000 Growth 57.0 $6 $516,338
184 SJF ProShares UltraShort Russell 1000 Value 57.0 $2 $86,310
185 SDK ProShares UltraShort Russell Midcap Growth 57.0 $3 $206,313
186 SJL ProShares UltraShort Russell Midcap Value 57.0 $2 $106,081
187 TWQ ProShares UltraShort Russell3000 28.4 $2 $119,672
188 TLL ProShares UltraShort Telecom 43.8 $3 $76,852
189 TPS ProShares UltraShort TIPS 8.8 $3 $53,478
190 SDP ProShares UltraShort Utilities 57.8 $3 $234,218
191 RWW RevenueShares Financials Sector Fund 36.2 $8 $60,448
192 ONEF Russell Equity ETF 17.9 $7 $133,307
193 EWAC Rydex MSCI All Country World Equal Weight 9.7 $4 $46,390
194 VRD SPDR Nuveen S&P VRDO Municipal Bond ETF 25.6 $12 $131,170
195 JPP SPDR Russell/Nomura PRIME Japan 60.4 $15 $68,643
196 IPU SPDR S&P International Utilities 39.8 $11 $121,163
197 KME SPDR S&P Mortgage Finance ETF 30.5 $3 $12,361
198 NAGS Teucrium Natural Gas Fund 9.1 $2 $38,619
199 MLPS UBS ETRACS 1x Mthly Short Alerian MLP ETN 13.2 $11 $56,747
200 MLPG UBS ETRACS Alerian Natural Gas MLP ETN 15.8 $15 $198,160
201 UBN UBS ETRACS CMCI Energy TR ETN 43.5 $3 $29,378
202 UBG UBS ETRACS CMCI Gold TR ETN 43.5 $9 $168,687
203 UBM UBS ETRACS CMCI Industrial Metals TR ETN 43.5 $6 $24,377
204 UBC UBS ETRACS CMCI Livestock TR ETN 43.5 $5 $11,070
205 PTD UBS ETRACS CMCI Short Platinum ER ETN 42.3 $3 $6,165
206 BDCS UBS ETRACS Wells Fargo BDC ETN 6.2 $9 $61,066
207 MLPW UBS ETRACS Wells Fargo MLP Index ETN 12.1 $18 $51,571
208 IVOV Vanguard S&P Mid-Cap 400 Value ETF 13.9 $6 $47,508
209 VIIZ VelocityShares VIX Medium-Term ETN 11.2 $9 $213,132
210 EU WisdomTree Euro Debt Fund 42.2 $5 $63,583
211 HEDJ WisdomTree International Hedged Equity 22.3 $19 $61,519

Data sources:  AUM from National Stock Exchange, daily prices and volume of individual ETPs from Norgate Premium Data, and all other information compiled by Invest With An Edge.

Past issues of ETF Deathwatch are available here.

Disclosure covering writer, editor, and publisher: 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.

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