ETFs Falling Like Leaves

Four firms are shutting a combined total of six ETFs as we head into autumn, with closures continuing at a brisk pace.

Direxion has three ETFs scheduled to see their last day of trading on Oct. 11:

• Direxion Daily EURO STOXX 50 Bull 3X Shares (EUXL)
• Direxion Daily High Yield Bear 2X Shares (HYDD)
• Direxion Daily 7-10 Year Treasury Bear 1X Shares (TYNS)

Meanwhile, three other firms have either closed or plan to close a fund each. SPDR shuttered its SPDR Long Dollar Gold Trust (GLDW) on Sept. 9, and AdvisorShares and Van Eck are both set to close funds in the coming weeks.  

The AdvisorShares Sabretooth ETF (BKCH) will have its last day of trading on Sept. 27, while the VanEck Vectors High Income Infrastructure MLP ETF (YMLI) will close on Oct. 18.

These closures, once completed, will bring the total number of closures to 95 for the year. That’s not anywhere close to last year’s record of 152 ETF closures, but keep in mind that in April 2018, Barclays’ iPath unit shuttered 50 of its ETNs, an unprecedented amount of closures from one issuer in one fell swoop.

Contact Heather Bell at [email protected]