Deutsche to Shutter Five Target Date ETFs

Deutsche Asset & Wealth Management (Deutsche AWM), the exchange traded funds arm of German banking giant Deutsche Bank (NYSE: DB), plans to shutter its five target-date ETFs. Combined, the five target-date funds represent less than 1% of Deutsche AWM’s $16.7 billion in U.S. ETF assets.

The ETFs being close are as follows: The Deutsche X-trackers In-Target Date ETF (NYSEArca: TDX), Deutsche X-trackers 2010 Target Date ETF (NYSEArca: TDD), Deutsche X-trackers 2020 Target Date ETF (NYSEArca: TDH), Deutsche X-trackers 2030 Target Date ETF (NYSEArca: TDN) and the Deutsche X-trackers 2040 Target Date ETF (NYSEArca: TDV).

On May 15, the ETF’s will cease accepting creation orders. Redemption requests will be taken until May 18, the funds’ final day of trading, according to a statement from Deutsche AWM.

In 2014, approximately 80 ETFs closed while issuers brought nearly 205 new products to market. This year, nearly 30 U.S. ETFs have been closed.