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 May, 24 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list and 26 were removed, bringing the total to 524.

Twenty-three products were added to the list in May due to low trading volume. The low volume in these products could be due to the nature of their investment product. One product was added to the list due to low assets under management (“AUM”), though it may have enough AUM to keep it from closure. Our system takes into account both AUM and volume. If both remain low, these funds could be considered for closure.  

Ten products were removed from the list due to improved health and 16 were delisted.

Forty 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 $9.04 million to $8.98 million, and 54 products had less than $2 million in assets. The average age of products on the list decreased from 42.26 months to 41.62 months, and the number of products at least 5 years of age decreased from 115 to 107. The largest ETP on the list had an AUM of $24.52 million, while the smallest had assets of just $339,600.

Here is the Complete List of 524 ETPs on ETF Deathwatch for May 2023 compiled using the objective ETF Deathwatch Criteria.

The 23 ETPs added to ETF Deathwatch for May due to low trading volume:

  1. abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM)
  2. Direxion Daily Cloud Computing Bull 2X Shares (CLDL)
  3. BTD Capital Fund (DIP)
  4. Distillate Small/Mid Cash Flow ETF (DSMC)
  5. Global X Financials Covered Call & Growth ETF (FYLG)
  6. Invesco High Yield Select ETF (HIYS)
  7. Global X Health Care Covered Call & Growth ETF (HYLG)
  8. iShares U.S. Consumer Focused ETF (IEDI)
  9. ClearBridge Sustainable Infrastructure ETF (INFR)
  10. ProShares S&P Global Core Battery Metals ETF (ION)
  11. Invesco Short Duration Bond ETF (ISDB)
  12. AdvisorShares Newfleet Multi-Sector Income ETF (MINC)
  13. Credit Suisse S&P MLP Index ETN (MLPO)
  14. Nationwide S&P 500 Risk-Managed Income ETF (NSPI)
  15. Corbett Road Tactical Opportunity ETF (OPPX)
  16. PGIM Jennison Focused Value ETF (PJFV)
  17. TrueShares Eagle Global Renewable Energy Income ETF (RNWZ)
  18. Hartford Multifactor Emerging Markets ETF (ROAM)
  19. Senior Secured Credit Opportunities ETF (SECD)
  20. SPAC & New Issue ETF (SPCX)
  21. Global X Information Technology Covered Call & Growth ETF (TYLG)
  22. Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY)
  23. Merlyn AI Bull-Rider Bear-Fighter ETF (WIZ)

 The 1 ETP added to ETF Deathwatch due to low AUM:

  1. GraniteShares 1.75x Long BABA Daily ETF (BABX)

 The 10 ETPs removed from ETF Deathwatch due to improved health:

  1. Convergence Long/short Equity ETF (CLSE)
  2. Franklin FTSE Europe Hedged ETF (FLEH)
  3. Formidable Fortress ETF (KONG)
  4. Pacer Swan SOS Moderate October ETF (PSMO)
  5. ProShares S&P 500 EX-Financials ETF (SPXN)
  6. ProShares S&P 500 EX-Technology ETF (SPXT)
  7. Applied Finance Valuation ETF (VSLU)
  8. Invesco S&P SmallCap Materials ETF (PSCM)
  9. ETFMG Prime 2x Daily Junior Silver Miners ETF (SILX)
  10. Neos S&P 500 High Income ETF (SPYI)

The 16 ETPs removed from ETF Deathwatch due to delisting:

  1. Alpha Intelligent-Large Cap Growth ETF (AILG)
  2. Alpha Intelligent-Large Cap Value ETF (AILV)
  3. iPath GSCI Total Return Index ETN (GSP)
  4. LifeGoal Home Down Payment Investment ETF (HOM)
  5. iPath Series B Bloomberg Agriculture Subindex Total Return ETN (JJA)
  6. iPath Series B Bloomberg Energy Subindex Total Return ETN (JJE)
  7. iPath Series B Bloomberg Precious Metals Subindex Total Return ETN (JJP)
  8. iPath Series B Bloomberg Softs Subindex Total Return ETN (JJS)
  9. iPath Series B Bloomberg Tin Subindex Total Return ETN (JJT)
  10. Upholdings Compound Kings ETF (KNGS)
  11. iPath Bloomberg Lead Subindex Total Return ETN (LD)
  12. iPath Series B Bloomberg Platinum Subindex Total Return ETN (PGM)
  13. Subversive Metaverse ETF (PUNK)
  14. LifeGoal Conservative Wealth B (SAVN)
  15. Fount Subscription Economy ETF (SUBS)
  16. LifeGoal Wealth Builder ETF (WLTH)



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