O’Shares Investments closed two ETFs this week. The O'Shares FTSE Asia Pacific Quality Dividend ETF (OASI) and the O'Shares FTSE Russell International Quality Dividend ETF (ONTL) both shuttered today.
OASI was one of O’Shares first ETF launches in 2015, coming to market about a month after O'Shares’ first—and most successful ETF—the O’Shares FTSE U.S. Quality Dividend ETF (OUSA), which has almost $600 million in total assets.
OASI, however, never really found traction with its multifactor Asia-Pacific portfolio, and neared its closure with less than $10 million in total assets. ONTL, also a multifactor play on developed ex-U.S. equities, had about $12 million in total assets in its final week. The fund launched in March 2017.
The closures bring O’Shares’ number of ETFs on the market down to four, with combined assets of just under $800 million.
Another Record Year For Closures
The ETF market is doing a good job of clearing shelf space. The number of new launches this year is high, but so is the number of ETF closures, which currently total 151 strategies this year—a record.
The high number of liquidations comes on the heels of what was another record year for closures in 2017, when 136 funds were shuttered.
Today there are 2,216 U.S.-listed ETFs on the market commanding $3.48 trillion in combined assets.
Contact Cinthia Murphy at [email protected]