Global X says it plans to liquidate a quartet of ETFs that have failed to gather significant assets and trading volume.
The firm is shutting down Global X Aluminum ETF (NYSEArca: ALUM), Global X Auto ETF (NYSEArca: VROM), Global X Nasdaq 500 ETF (NasdaqGM: QQQV) and Global X Nasdaq 400 Mid Cap ETF (NasdaqGM: QQQM).
ALUM has $2.4 million in assets, VROM holds $2.7 million, QQQV holds $1.5 million and QQQM has $1.4 million.
Although the ETF business continues to grow, it has seen consolidation in 2012 as not every fund makes it. For example, Russell Investments shut down its passive ETF business and Scottrade subsidiary FocusShares closed its lineup of 15 funds. [ETF Closures Reveal Fierce Competition for Market Share]
The Global X ETFs will cease trading on Oct. 18 and will liquidate on Oct. 26, according to a press release.
The four ETFs combined represent less than 1% of the assets of the Global X funds, the company said.
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