WisdomTree Closes 3 ETFs

By
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.COM CHANNELS

Trying to figure out alternatives ETFs? Use our alternatives ETFs channel, library and ETF screener!

Want to learn more about smart-beta ETFs? Check out our smart-beta guide, essentials library and ETF screener!

ETF DAILY DATA

A roster of U.S. fixed-income ETFs topped the list of ETF creations Monday, Aug. 31, as investors poured $1.2 billion into the segment.

'SPY' paced State Street's issuer-leading inflows Monday, Aug. 31, as total U.S.-listed ETF assets hit $2.029 trillion.

ETF.COM ANALYST BLOGS

By Dave Nadig

With many ETFs currently trading well off fair value, what’s an ETF investor to do? Don’t panic.

By Matt Hougan

Out-of-favor funds can bring attractive returns.

By Matt Hougan

New data from Charles Schwab show that the death of mutual funds is happening faster than we thought.

By Dave Nadig

Grab the popcorn. Precidian just doubled-down on its nontransparent active ETF proposal with the SEC this morning.

ETF INDUSTRY PERSPECTIVE

By John Del Vecchio

An index that goes long financially sound companies and shorts the ones with problematic balance sheets.

By Dan Draper

The nature of retirement is changing. How can investors adapt?

By Invesco PowerShares

A more in-depth look at the smart-beta survey's results.