Monday saw the announcement of a range of ETF closures from both iShares and New Age Alpha. iShares typically closes a handful of ETFs during August every year, though this year the closures number 11. New Age Alpha is also closing its two funds in the market.
The raft of iShares closures announced currently have combined assets under management of roughly $170 million. Three of the funds set to close have more than $30 million in AUM each: the iShares MSCI Colombia ETF (ICOL), the iShares Evolved U.S Healthcare Staples ETF (IEHS) and the iShares Evolved U.S. Innovative Healthcare ETF (IEIH).
The remaining closures include the following:
- iShares MSCI Argentina and Global Exposure ETF (AGT)
- iShares Interest Rate Hedged Emerging Markets Bond ETF (EMBH)
- iShares MSCI Japan Equal Weighted ETF (EWJE)
- iShares Currency Hedged JPX-Nikkei 400 ETF (HJPX)
- iShares Evolved U.S. Consumer Staples ETF (IECS)
- iShares Evolved U.S. Financials ETF (IEFN)
- iShares Evolved U.S. Media and Entertainment ETF (IEME)
- iShares MSCI USA Mid-Cap Multifactor ETF (MIDF)
The 11 funds will see their last day of trading on Aug. 22.
The closures leave just two ETFs in iShares’ “Evolved” family of sector funds, which are actively managed and incorporate artificial intelligence. The iShares Evolved U.S. Discretionary Spending ETF (IEDI) and the iShares Evolved U.S. Technology ETF (IETC) have $15.6 million and $96 million in AUM, respectively.
New Age Alpha
New Age Alpha entered the marketplace with two ETFs in late 2020, and the funds have combined assets of roughly $30 million. The AVDR US LargeCap Leading ETF (AVDR) and the AVDR U.S. LargeCap ESG ETF (AVDG) will both cease to trade after the market close on July 11.
The latest round of announced closures brings the total number of completed and announced closures to 56 for so far for 2022. That’s nearly twice the 29 closures that had completed during the same time period in 2021.
Contact Heather Bell at [email protected]