Let’s get this straight: No target-date exchange traded funds (ETFs) are closing.
However, portfolio provider XTF Advisors is shutting down its lineup of target-date ETF portfolios.
Since Claymore’s announcement that it’s booting 11 of its weakest-performing ETFs, you’ll forgive the alarm these days when investors see "closing" and "ETFs" in the same sentence.
We repeat: No other ETFs are actually closing this time.
"No animals have been injured in this movie," says Jeffrey Feldman, chairman of XShares. XShares has nothing to do with XTF, but somehow in the spreading of the news, their similar-sounding names were linked. XShares currently offers the only target-date ETFs in the marketplace through its line of TDAX products.