Market Overview

State Street To Shutter 12 ETFs

State Street To Shutter 12 ETFs

State Street Global Advisors (SSgA), the third-largest U.S. issuer of exchange-traded funds, said it is closing 12 of its ETFs.

Eight of the ETFs SSgA will close are international funds, while three are US-focused fixed income ETFs. The remaining one is the SPDR SSGA Risk Aware ETF (SSgA Active ETF Trust (NYSE: RORO)), which debuted nearly two years ago and has just $2 million in assets under management.

Related Link: 10 REITs Yielding 10% Or More

“The final day for creations will be August 24, 2016 with the exception of three funds identified with the symbol †, for which the final day for creations will be August 23, 2016. Trading of all twelve funds will be suspended on the NYSE Arca at the open of market on August 25, 2016, and proceeds of the liquidation are scheduled to be sent to shareholders on or about August 31, 2016,” according to a statement issued by SSgA.

International And Emerging Closures

SSgA is closing several emerging markets ETFs, including:

  • SPDR MSCI EM 50 ETF (SPDR Index Shares Fund) (NYSE: EMFT)
  • SPDR BofA Merrill Lynch EM Corp. Bond ETF (SPDR Series Trust (NYSE: EMCD)

The issuer is also closing two Japan ETFs, the SPDR Russell Nomura PRIME Japan (ETF) (NYSE: JPP) and the SPDR Russell Nomura Small Cap Japan(ETF) (NYSE: JSC).

Related Link: A Timely New ETF

The issuer's other international closures are the SPDR Barclays International High Yield Bond ETF (NYSE: IJNK) and the SPDR S&P International Mid Cap (ETF) (NYSE: MDD).

Bond ETF Closures

The bond ETFs SSgA is closing are the SPDR Nuveen Barclays Build Amer (NYSE: BABS), SPDR Nuveen Barclays Cap Clfrn Mncpl Bnd (NYSE: CXA) and the SPDR Nuveen Barclays Capitl NY Mncpl Bnd (NYSE: INY).

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