The exchange traded fund industry is a business, and like any business, a sponsor will cut down on any money losing ventures.

For instance, BlackRock Inc. (NYSE: BLK), the money manager behind the iShares line of ETFs, is shuttering 10 ETFs this month, despite each of the funds posting gains this year, reports Rachel Evans for Bloomberg.

“We regularly review our ETF line-up to ensure the funds are meeting the current and future needs of our clients,” BlackRock spokesman Paul Young said.

Most surprisingly, the fund provider closing the books on the iShares MSCI Emerging Markets Latin Amer (NYSEArca: EEML), which has surged 37.9% year-to-date. However, the outperformance is not enough when the ETF only has $9.9 million in assets under management.

On average, the various BlackRock ETFs set to close held about $30 million of investors’ money each.

SEE MORE: BlackRock’s iShares to Liquidate 10 ETFs

The rising number of ETF closures has corresponded with the exponential growth of the ETF industry as a whole. Liquidation is becoming commonplace after ETF assets under management doubled over the past five years.

More companies have been throwing ideas out to see what sticks and are more willing to cull failed products. The so-called group of zombie ETFs – those with little trading activity or investment – have been among the most likely ETF candidates for a purge as providers seek to streamline offerings.

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