WisdomTree Closes 3 ETFs

By
Cinthia Murphy
December 03, 2012
Share:

WisdomTree starts closing three funds, including two focusing on currencies.

WisdomTree is closing three ETFs today—a U.S. equities fund and two currency funds; one focused on the South African rand and the other on the Japanese yen.

The ETFs join a growing number of funds—now hovering around the 100-fund mark—that have failed to attract investor interest in an ETF market that boasts more than 1,400 strategies amounting to $1.3 trillion in total assets.

Together the ETFs make up only 0.14 percent of the New York-based fund provider’s $17.2 billion in assets. The funds closing at the end of the session today, and their respective assets, are:

  • WisdomTree LargeCap Growth Fund (NYSEArca: ROI), $13.9 million
  • WisdomTree Dreyfus South African Rand Fund (NYSEArca: SZR), $4.4 million
  • WisdomTree Dreyfus Japanese Yen Fund (NYSEArca: JYF), $6.2 million

 

The shutdowns cement 2012’s place in the record books in terms of ETF closures—and by a large measure. In 2011, 30 funds shut down, compared with 49 in 2010, 56 in 2009, 59 in 2008 and none in 2007, according to data compiled by IndexUniverse.

Most recently, Global X shut down four funds, which followed the two most conspicuous additions to the growing ETF graveyard: Scottrade’s 15 FocusShares ETFs and Russell’s entire lineup of ETFs, with the exception of one actively managed fund.

WisdomTree said shareholders who don’t sell their fund shares by today will have their shares automatically redeemed on Dec. 10, the day of final liquidation for the three ETFs.

It said investors needing additional information can find it on its Investor FAQ document.

ETF DAILY DATA

The S&P 500 funds 'SPY' and 'IVV' led inflows on Thursday, Feb. 26, as total U.S.-listed ETF assets dipped to $2.094 trillion

'SPY,' 'MDY, 'XLF' and 'XLY' paced SSgA's issuer-leading inflows on Thursday, Feb. 26, as total U.S.-listed ETF assets fell to $2.094 trillion.

ETF.COM ANALYST BLOGS

By Howard Lee

An inside look at iShares’ new $75M ‘smart beta’ bond ETF.

By Dave Nadig

With trillions of dollars of bonds yielding worse than nothing, should you be worried about your ETF?

By Elisabeth Kashner

Virtu’s mind-bending way to play oil market volatility is a fascinating glimpse into the world of ultra-sophisticated investors.

By Dave Nadig

A reader asks: What happens to ETFs when the market goes nuts?