Market Vectors To Close Smart Beta ETFs
Van Eck’s ETF arm is shuttering its lineup of ‘Quality’ funds.
Van Eck’s Market Vectors ETF unit is shutting down four funds, all of which were part of the firm’s first attempt at a smart-beta lineup. The four funds to close and their assets as of yesterday are as follows:
- Market Vectors MSCI International Quality ETF (QXUS | D-74), $4.4 million
- Market Vectors MSCI International Quality Dividend ETF (QDXU | D-97), $4 million
- Market Vectors MSCI Emerging Markets Quality ETF (QEM | F-73), $4.5 million
- Market Vectors MSCI Emerging Markets Quality Dividend ETF (QDEM | F-98), $4.0 million
The funds seemed like they should have been a hit. They track MSCI factor indexes that have led the latest smart-beta wave. However, the lineup failed to gather assets after launching in early 2014.
The ETFs will see their last day of trading on Sept. 18, with liquidation expected on or around Oct. 28.
The closures will bring the tally for 2015 to nearly 180 closures. There were roughly 190 closures in 2014, so the odds are good that this year will surpass last year. Of course, at the same time, there have been many more launches in 2015 than there were by this same date in 2014.
Contact Heather Bell at [email protected].
