The exchange traded fund (ETF) industry is rapidly evolving. Some funds are closing, new funds launch weekly and ETF providers are quickly dreaming up new funds and filing for them with the SEC. Here’s the latest on what’s happening in the industry.
Shishir Nigam for Daily Markets reports that on Aug. 20, Grail Advisors announced they are closing up two actively managed ETFs: RP Technology (NYSEArca: RPQ) and RP Financials (NYSEArca: RFF). These are the first funds to be shut down in the active ETF space. [Your ETF Is Closing. Now What?]
Global X has filed with the SEC for the Global X Gold Explorers ETF. The Solactive Global Gold Explorers Index tracks the performance of the largest and most liquid listed companies active in the exploration of gold, reports ETF Daily News. No tickers or expense ratios have been disclosed. [5 Signs An ETF Is Closing Up Shop.]
Olivier Ludwig for Index Universe reports that Claymore Securities rolled out a micro-cap ETF today: Wilshire Micro-Cap ETF (NYSEArca: WMCR). It is based on an index from Wilshire Associates and has an expense ratio of 0.50%. Meanwhile, Claymore is closing their doors on four ETFs as of Sept. 10. The ETFs were lightly traded and unable to garner enough assets and activity to deem worthy of keeping around. The list and an update can be read here.
Tisha Guerrero contributed to this article.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.