From the category archives:

Closed ETFs

Trading in the iPath Inverse January 2021 S&P 500 VIX Short-Term Futures ETN (IVO) was suspended on Monday after the note’s indicative value hit the automatic termination level of $10.00 per share. IVO, which offers inverse exposure to an index comprised of VIX futures contracts, tumbled in Monday morning trading as anxiety over the Greek default situation spooked investors. The automatic redemption level of $10 per share represented a drop of about 16% from Friday’s closing price. [click to continue…]

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Van Eck, one of the pioneers of ETFs offering exposure to international bond markets, has laid the groundwork for what would be yet another first-of-its-kind fixed income fund. In a recent SEC filing, the company detailed plans for the Market Vectors European Currency High Yield Bond ETF, a fund that would offer exposure to junk bonds denominated in euros and British pounds. The proposed ETF would seek to replicate the BofA Merrill Lynch European Currency High Yield Constrained Index. According to the filing, that cap-weighted index “is designed to track the performance of euro- and British pound sterling-denominated below investment grade corporate debt publicly issued in the eurobond, sterling domestic or euro domestic markets.” Debt included in the index may be issued by European issuers or issuers located outside of Europe. [click to continue…]

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The competitive landscape of the ETF industry has evolved rapidly over the last several years, with several new players–both big and small–making a push into the space. From financial giants such as RBS and Citi to relative unknowns such as Javelin and Precidian, the roster of active ETF issuers has grown to nearly four dozen. […]

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July was another hectic month for equities, as the world struggled to deal with numerous debt crises that put downward pressure on global markets. In our first full month off of the quantitative easing program, rumors have already sprung up that a QE3 may be in store, as markets have failed to establish a strong […]

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The past few weeks have been a relatively slow stretch for the ETF industry–at least in terms of product development. Since EGShares rolled out a suite of sector-specific emerging markets ETFs on June 23, only two new products have hit the market: the S&P 500 Crude Oil Linked ETN (BARL) from Morgan Stanley and the […]

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For the second time this year, an exchange-traded note will be redeemed by the issuing institution after the intraday indicative value declined to less than $10. According to a press release from Barclays, VZZ’s IIV dipped below the $10 level shortly before noon ET on Friday; the actual redemption date will occur on the fifth […]

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FaithShares To Close Doors On Four ETFs

by on June 6, 2011 | Updated May 15, 2013

Heading in to 2011, many had predicted that a wave of closures would sweep over the ETF industry, the result of overly ambitious growth in recent years and the introduction of increasingly targeted exchange-traded products. Through the first five months of the year, however, only a leveraged Barclays ETN, BXDD, shut its doors–and that shuttering […]

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Leveraged S&P 500 ETN (BXDD) To Shut Down

by on May 4, 2011 | Updated May 12, 2011

It took more than four months to arrive, but the first ETP closure of 2011 is finally here. The Barclays ETN+ Short D linked to the S&P 500 Total Return Index (BXDD) have been called for redemption after the indicative value fell to a price point that triggers such a move.

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December continued the impressive wave of product innovation that has become expected of the ETF industry. Various issuers introduced first-to-market products and continued the impressive expansion of the exchange-traded product pipeline. After starting with a flurry of activity, product launches slowed in the second half of the month leading up to the holiday season. Still, […]

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The first 29 days of November were relatively quiet from a product development perspective, with only a handful of new exchange-traded products hitting the market. But that all changed on the final day of the month, when iPath debuted a new breed of leveraged ETNs and newcomer VelocityShares rolled out six products linked to VIX-related […]

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Direxion, one of the largest providers of leveraged ETFs, has been extremely active on the product development front in 2010, rolling out a number of products that offer investors an opportunity to double down (or triple down) on various asset classes. But the company’s product line will shrink a bit in coming weeks, as firm […]

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As each week seemingly brings multiple new product launches, the ETF industry’s product pipeline continues to refill. Issuers continue to get creative in their efforts to expand their product lineups, laying the groundwork to launch products not currently available in the ETF wrapper. One of the latest filings to hit the SEC’s desk came from […]

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