ETF Watch: 5 Funds Shuttered On Friday

Direxion and VanEck shut down a combined five exchange-traded funds on Oct. 7.

ETF.com
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Reviewed by: etf.com Staff
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Edited by: etf.com Staff

Five ETFs are no longer trading as of the close of business on Friday, Oct. 7. Direxion shut down three of its funds, while VanEck shut down two.

The Direxion Daily FTSE Developed Markets Bull 1.25X Shares (LLDM) and the Direxion Daily FTSE Emerging Markets Bull 1.25X Shares (LLEM) were both part of Direxion’s roster of ETFs providing 125% exposure to their underlying indexes. The idea behind the products was to provide investors with less dramatic—and risky—degrees of leverage.

With the closures, the firm only has two 1.25X ETFs remaining. The Direxion Daily S&P 500 Bull 1.25X Shares (LLSP) and the Direxion Daily Small Cap Bull 1.25X Shares (LLSC) have less than $10 million in assets under management each.

Finally, the Direxion S&P 500 Volatility Response Shares (VSPY) also closed down. It launched in early 2012.

At Van Eck Global, the VanEck Vectors Gulf States Index ETF (MES) and the VanEck Vectors Indonesia Small-Cap ETF (IDXJ) saw their last day of trading on Friday as well.

Contact Heather Bell at [email protected].

 

 

 

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