ProShares Closing 3 ETFs

June 11, 2019

ProShares is shutting three of its ETFs later this summer. The three funds, which offer exposure to gold miner stocks and credit default swaps, are set to see their last day of trading on Aug. 5. All three ETFs have minimal assets under management.

The closing funds are as follows:

GDXS offers 2x inverse exposure to the NYSE Arca Gold Miners Index, while GDXX provides 2x leveraged exposure to the same index. WYDE, on the other hand, provides actively managed inverse exposure to the high yield market via credit default swaps.

The announced closures add to the growing pile of ETF shutdowns for 2019. More than 60 funds have shut down so far this year. By this time last year, there had been nearly 90 ETF shutdowns.

However, if you factor out the unprecedented closure of 50 iPath ETNs in April 2018, this year is outpacing 2018 by a wide margin. 2019 may not end up officially being a record year for closures, but the pace of ETF shutdowns is not letting up.

Contact Heather Bell at hbel[email protected]

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