VanEck, the issuer of the VanEck Vectors family exchange traded funds, said Thursday it plans to shutter two international ETFs, the VanEck Vectors Indonesia Small-Cap ETF (NYSEArca: IDXJ) and the VanEck Vectors Gulf States Index ETF (NYSEArca: MES).
“Shareholders of the Funds may sell their holdings on NYSE Arca Inc. (“NYSE Arca”) until market close on September 28, 2016, and they may incur typical transaction fees from their broker-dealer. The Funds’ shares will no longer trade on NYSE Arca after market close on September 28, 2016, and the shares will subsequently be de-listed,” according to a statement issued by New York-based VanEck.[related_stories]
As Sept. 7, MES had $7 million in assets under management while IDXJ had $6.2 million in assets under management. Combined, those ETFs represent a scant percentage of the more than $39 billion in assets under management VanEck had at the end of July.
SEE MORE: WisdomTree to Close 6 ETFs
In August, more than 40 ETFs were closed, matching the combined total through the first seven months of the year. Entering September, a dozen ETFs were slated to close this month prior to the VanEck.
About 100 ETFs were closed last year and this year’s pace is ahead of that.