The Spirited Funds/ETFMG Whiskey and Spirits ETF (NYSEARCA: WSKY) is closing.
“Effective immediately, WSKY will increase its cash holdings in contemplation of liquidation and will no longer accept creation orders,” said ETF Managers Group (ETFMG) in a statement out late Tuesday.
WSKY tries to reflect the performance of the Spirited Funds/ETFMG Whiskey & Spirits Index, which is comprised of companies that are whiskey and/or spirit distilleries, breweries, and vintners and related luxury goods companies engaged in the sale of whiskey or the production and sale of mixers for use with premium spirits.
“Trading will be suspended on the NYSE Arca at the closing of the market on June 15, 2018. Proceeds of the liquidation are scheduled to be sent to shareholders on or before June 20, 2018,” according to the statement.
Whiskey ETF Joins More Than 80 ETFs Closed YTD
WSKY’s index “includes core companies that are principally engaged in the production, distillation, storage, or aging of whiskey and non-core companies that derive a portion of their revenue from whiskey and spirits,” according to Spirited Funds. “The Index is designed to include the most liquid and investable universe of companies listed on the exchanges of developed and emerging markets.”
The index is home to 25 stocks.
WSKY returned 17% over the past year. The ETF, which debuted in late 2016, was the first dedicated whiskey makers and related companies. Year-to-date, more than 80 ETFs have been closed, but over 100 new products have come to market.
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