ETF Launches Taper In February
Is U.S. ETF industry entering new phase of maturity?
February saw a total of just 11 ETF launches, the lowest number in a single month since April 2017. A total of 36 ETFs have launched during the first two months of the year. At the same time, a total of 26 ETFs have shut down so far in 2019, with another eight scheduled to close by March 14.
Last year saw a new record for ETF closures, and this year is looking like it could rival that number if the trend continues at its current level. The abrupt slowdown in the pace of launches during February paired with the rapid pace of closures, however, suggests we could be seeing a news stage in the maturity of the ETF market.
Month’s Launches
Yesterday, Fidelity rolled out three ETFs:
- Fidelity Targeted Emerging Markets Factor ETF (FDEM)
- Fidelity Targeted International Factor ETF (FDEV)
- Fidelity Small-Mid Factor ETF (FSMD)
The funds joined the eight other ETFs that were rolled out during February:
- Pacific Global U.S. Equity Income ETF (USDY)
- Virtus Real Asset Income ETF (VRAI)
- Virtus Private Credit Strategy ETF (VPC)
- Western Asset Short Duration Income ETF (WINC)
- AdvisorShares Sabretooth ETF (BKCH)
- ARK Fintech Innovation ETF (ARKF)
- Tortoise Electronic Transactions Fund (TPAY)
- Tortoise Cloud Infrastructure Fund (TCLD)
Contact Heather Bell at [email protected]
