Market insights and analysis

How dynamic, risk-managed investment solutions are performing in the current market environment

4th Quarter | 2023

Quarterly recap

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Current market environment performance of dynamic, risk-managed investment solutions.

In January, 19 exchange-traded products (“ETPs”) were added to the Deathwatch list, and 23 were removed, bringing the total down to 496.

Among the additions, 14 were due to low trading volume. The low volume in these products could be due to the nature of their investment product. Five additions were due to low assets under management (“AUM”), though they may have enough AUM to avoid closure. Our system takes into account both AUM and volume. If both remain low, these funds could be considered for closure.

Five products were removed due to delisting, and 18 products were removed due to improved health.

Forty-six ETPs on Deathwatch this month have been in the market for at least 10 years, including many short ETPs.

The average asset level of the threatened ETPs on ETF Deathwatch decreased from $9.13 million to $8.68 million, and 37 products had less than $2 million in assets. The average age of products on the list increased from 47.68 months to 48.24 months, and the number of products at least 5 years of age decreased from 118 to 115. The largest ETP on the list had an AUM of $24.84 million, while the smallest had assets of just $279,300.

Here is the complete list of 496 ETPs on ETF Deathwatch for January 2024 compiled using the objective ETF Deathwatch Criteria.

The 14 ETPs added to ETF Deathwatch for January due to low trading volume:

  1. Global X Brazil Active ETF (BRAZ)
  2. VanEck Cmci Commodity Strategy ETF (CMCI)
  3. Global X Dow 30 Covered Call & Growth ETF (DYLG)
  4. ProShares UltraShort MSCI Emerging Markets (EEV)
  5. First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY)
  6. Strategy Shares Gold-Hedged Bond ETF (GOLY)
  7. DGA Absolute Return ETF (HF)
  8. KraneShares Dynamic Emerging Markets Strategy ETF (KEM)
  9. VanEck Long/Flat Trend ETF (LFEQ)
  10. Roundhill S&P Global Luxury ETF (LUXX)
  11. Tema Global Royalties ETF (ROYA)
  12. USCF Dividend Income Fund (UDI)
  13. Global X MSCI Vietnam ETF (VNAM)
  14. USCF Sustainable Commodity Strategy Fund (ZSC)

The 5 ETPs added to ETF Deathwatch for January due to low AUM:

  1. GraniteShares 1x Short AMD Daily ETF (AMDS)
  2. GraniteShares 2x Short NVDA Daily ETF (NVD)
  3. ProShares UltraShort Technology (REW)
  4. ProShares UltraPro Short MidCap400 (SMDD)
  5. GraniteShares 2x Short TSLA Daily ETF (TSDD)

The 5 ETPs removed from ETF Deathwatch due to delisting:

  1. Strategy Shares Gold-Hedged Bond ETF (GLDB)
  2. Goldman Sachs ActiveBeta Paris Aligned Climate US Large Cap Equity ETF (GPAL)
  3. WisdomTree International ESG Fund (RESD)
  4. WisdomTree Emerging Markets ESG Fund (RESE)
  5. Pacer Metaurus US Large Cap Target Dividend 300 ETF (TRPL)

The 18 ETPs removed from ETF Deathwatch due to improved health:

  1. First Trust Innovation Leaders ETF (ILDR)
  2. iShares Large Cap Moderate Buffer ETF (IVVM)
  3. TrueShares Structured Outcome January ETF (JANZ)
  4. AB US Low Volatility Equity ETF (LOWV)
  5. Pacer Swan SOS Flex January ETF (PSFD)
  6. ALPS Active Equity Opportunity ETF (RFFC)
  7. Motley Fool Capital Efficiency Index ETF (TMFE)
  8. BondBloxx USD High Yield Bond Consumer Cyclicals Sector ETF (XHYC)
  9. AXS First Priority CLO Bond ETF (AAA)
  10. Qraft AI-Enhanced US Large Cap Momentum ETF (AMOM)
  11. First Trust Germany AlphaDEX Fund (FGM)
  12. iShares U.S. Consumer Focused ETF (IEDI)
  13. First Trust Flexible Municipal High Income ETF (MFLX)
  14. Nuveen Dividend Growth ETF (NDVG)
  15. AllianzIM US Large Cap Buffer10 Nov ETF (NVBT)
  16. Invesco S&P SmallCap Financials ETF (PSCF)
  17. SPDR S&P Kensho Intelligent Structures ETF (SIMS)
  18. Innovator US Equity Accelerated Plus ETF - January (XTJA)



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