The four ETFs, which follow momentum strategies courtesy of Goldman Sachs, are “designed to provide exposure to price momentum equity and U.S. fixed income markets by reflecting the combination of underlying ETF weightings that provide the highest six-month historical return, subject to the constraints on maximum and minimum weights and volatility controls,” according to ALPS.
Three of the four funds to be shuttered were pricy by the standards of ETFs with total expense ratios ranging from 0.95% to 1.18%.
News of the ALPS closures was initially reported by ETF.com, which notes the closures bring the 2014 total of shuttered ETFs to 23. Seventy U.S.-listed exchange traded products were closed last year.
ETF Trends editorial team contributed to this post.