WisdomTree Investments Inc. (NASDAQ:WETF) 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.
“The Funds will no longer accept creation orders after Wednesday, August 16, 2017. The final day of trading on the Funds’ respective exchanges will also be Wednesday, August 16, 2017. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Funds’ net asset value (NAV), which is expected to be provided to shareholders through their brokers or other financial intermediaries on or around Friday, August 25, 2017, the Funds’ last day of operations,” according to a statement from New York-based WisdomTree.
RRF debuted almost six years and holds bonds, commodities and stocks, among other assets, but the ETF has just $4 million in assets.
The actively managed WisdomTree Strategic Corporate Bond Fund was managed by Western Asset Management. That ETF, which debuted four and a half years ago, has over $15 million in assets under management.
The WisdomTree Western Asset Unconstrained Bond Fund is also a partnership between WisdomTree and Western Asset Management. That ETF is two years old and has $5.1 million in assets.
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.