ALPS, one of the largest distributors of exchange traded funds, will shutter four of its own ETFs due to low assets.
In a filing with the Securities and Exchange Commission, ALPS said it will close the ALPS/GS Momentum Builder Growth Markets Equities and U.S. Treasuries Index ETF (NYSEArca: GSGO), the ALPS/GS Momentum Builder Asia ex-Japan Equities and U.S. Treasuries Index ETF (NYSEArca: GSAX), the ALPS/GS Momentum Builder Multi-Asset Index ETF (NYSEArca: GSMA) and the ALPS/GS Risk-Adjusted Return U.S. Large Cap Index ETF (NYSEArca: GSRA).
Combined, the four ETFs have about $10.5 million in assets under management.
“From August 13, 2014 through August 28, 2014, the Funds will be in the process of closing down and liquidating their portfolios. This process will result in the Funds not tracking their underlying indexes and their cash holdings increasing, which may not be consistent with the Funds’ investment objectives and strategies,” according to the filing.
The funds will close to new investors on Aug. 25.