Sept To Break ETF Closure Record

After August’s slow month, September looks like it will be a record-breaker.
Reviewed by: Staff
Edited by: Staff

September looks like it will be breaking the record of 41 closures that occurred in August 2016. August 2017 saw only five closures, but the tide has changed dramatically this month.

So far, just one week into September, 42 fund closures have either already happened or are scheduled to occur before October.

On Wednesday alone, there were 14 closures, as ProShares weeded out its fund lineup and ETF Managers Group shut down its health care technology ETF. The shuttering funds included the following:

One-Off Closures

Previously, on the first of the month, the iShares iBonds Sep 2017 Term Muni Bond ETF (IBMF) saw its last day of trading. However, the fund’s closure had been scheduled from the time it launched, given that it is part of iShares target-maturity bond ETF lineup.

That said, two other one-off closures are scheduled for the month, with the closure for the Horizons USA Managed Risk ETF (USMR) set for Sept. 8 and Janus’ The Health And Fitness ETF (FITS) scheduled for Sept. 26.

Elkhorn Plans Closures

Meanwhile, Elkhorn is set to close a large portion of its lineup when it shuts down its nine midcap sector funds on Sept. 14:

Direxion Shutting Down 12 Funds

Direxion has planned to shut down a dozen of its leveraged and inverse ETFs on Sept. 26. The list is as follows:

The Tipping Point
Finally, this morning VanEck announced it will be shutting down four of its ETFs, with the funds set to see their last day of trading Sept. 29. This brings the total number of closures scheduled for September to 42, one more than the 41 that closed in August 2016. The affected VanEck Vectors ETFs include the following:

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