State Street’s State Street Global Advisors (SSgA) unit, the third-largest U.S. issuer of exchange traded funds, said it is closing 19 ETFs this month.
With the exception of the SPDR Bloomberg Barclays 0-5 Year TIPS ETF (NYSEARCA:SIPE), all of the ETFs being shuttered by SSgA are international funds, a group that includes currency hedged and smart beta funds.
The SPDR S&P Emerging Europe ETF (NYSEARCA:GUR), SPDR S&P Emerging Latin America ETF (NYSEARCA:GML) and the SPDR S&P Emerging Middle East & Africa ETF (NYSEARCA:GAF) are among the closures.
“The final day for creations will be July 24, 2017 with the exception of GUR, GML and GAF, for which the final day for creations will be July 21, 2017. Trading of all funds will be suspended on the NYSE Arca at the open of market on July 25, 2017, and proceeds of the liquidation are scheduled to be sent to shareholders on or about August 1, 2017,” according to a statement issued by SSgA.
Ten of the 19 closures are international sector ETFs, including the SPDR S&P International Technology Sector ETF (NYSEArca:IPK). The SPDR S&P Russia ETF (NYSEARCA:RBL) is also slated for closure.
Some multi-factor international ETFs, including the SPDR MSCI Spain Quality Mix ETF (NYSEArca:QESP), are also closing.
Related: State Street Global Advisors’ Three Big 2017 Themes for Advisors
In late June, WisdomTree said it plans to close three of its exchange traded funds. The WisdomTree Strategic Corporate Bond Fund (NASDAQ: CRDT), WisdomTree Western Asset Unconstrained Bond Fund (NASDAQ:UBND) and the WisdomTree Global Real Return Fund (NYSEArca:RRF) are the ETFs slated for closure.
Last year, nearly 130 ETFs in the U.S. closed. As of the end of May 30, 30 ETFs listed in the U.S. had closed this year, slightly below last year’s pace. Now, that number is over 50 including announced closures.