ETF Watch: Closures And Changes

June 06, 2016

Two ETN closures were announced recently, along with some changes to existing ETFs that will continue to trade.

The Credit Suisse X-Links Merger Arbitrage Liquid Index ETN (CSMA | F-75) will see its last day of trading on June 10, while the Barclays OFI SteelPath Midstream MLP ETN (OSMS) is set to be redeemed on June 22.

Both ETNs have gathered minimal assets. Also, CSMA’s returns have been disappointing for a significant period, while OSMS has always been thinly traded.   

Roughly 30 closures have been announced already this year.

Additional Updates

  • The $3 million KraneShares CSI New China ETF (KFYP | F-21) at the start of June changed its name to the KraneShare Zacks New China ETF, while simultaneously switching its index from the CSI Overseas China Five-Year Plan Index to the Zacks New China Index. The fund’s overall purpose, however, will remain essentially the same, as it looks to target China companies that are likely to benefit from the country’s current Five-Year Plan.
  • Also at the start of June, the $33 billion Vanguard FTSE Developed Markets ETF (VEA | A-94) completed its transition to its new index, as it now fully tracks the FTSE Developed All Cap ex US Index rather than the transition index. The new benchmark has a broadened and more complete scope, expanding the fund’s coverage to include small-caps and Canadian stocks.

 

Contact Heather Bell at [email protected].

 

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