ETF Odds & Ends: An Unusually Quiet Week

ETF Odds & Ends: An Unusually Quiet Week

No new launches, only closures due to cautious issuers.

Reviewed by: Heather Bell
Edited by: Heather Bell

The week ending July 22 has been very quiet and may be the peak of the summer doldrums the ETF industry often sees during the summer. Of course, the lack of activity could also be the industry going into a holding pattern amid the current market turmoil and uncertainty. 

The week featured nothing in the way of launches or changes to names or expense ratios, nor were there any share splits.  

AXS Investments CEO Greg Bassuk attributed the lack of new issues to a more prudent environment in an interview with Exchange Traded Podcast (link) on Friday. 

“We are seeing more caution,” he said. 

The only developments were the announcement of two new ETF closures, the completion of two more closures, and a single index change. 

Not only did ARK and Morgan Creek announce that they would each close one of their ETFs before the end of August, two funds are currently on their last day of trading today. The Uncommon Portfolio Design Core Equity ETF (UGCE) launched in April 2021, but never gathered significant assets. Similarly, the SonicShares Airlines, Hotels, Cruise Lines ETF (TRYP) rolled out in May 2021. The latest shutdowns bring the total number of completed closures to 51, with 67 scheduled to have completed by the end of August.  

Lastly, the American Century Quality Diversified International ETF (QINT) changed its index from the Alpha Vee American Century Diversified International Equity Index to the American Century Quality Diversified International Equity Index. 


Contact Heather Bell at [email protected] 

Heather Bell is a former managing editor of She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.