Global Beta ETFs is closing its entire product line of three ETFs 2 1/2 years after the issuer made its debut.
The firm described its offering as “low-cost factor ETFs,” with all three of its funds tracking smart beta indexes and carrying fairly low expense ratios of 0.29%. However, the ETFs never gained significant assets.
The three funds set to close in late August are:
- Global Beta Smart Income ETF (GBDV)
- Global Beta Low Beta ETF (GBLO)
- Global Beta Rising Stars ETF (GBGR)
The ETFs will cease trading after Aug. 22, with liquidation expected to occur on or around Aug. 29.
The addition of the Global Beta shutdowns brings the total number of ETF closures expected to complete by the end of August to 70. That compares with 37 launches during the same time period last year.
Contact Heather Bell at [email protected]