Slew Of ETF Closures Coming

March 11, 2019

March already had nine closures on the books, with eight to be completed midmonth, but last week saw several closures added to the schedule.

The SerenityShares Impact ETF (ICAN), which has less than $5 million in assets under management (AUM), launched in April 2017 and is now set to see its last day of trading on March 18. The fund tracks an index constructed around a range of thematic pillars related to ESG, from environmental stewardship to healthy lifestyle, while excluding companies involved in controversial businesses like tobacco, alcohol and firearms.

Later in the month, J.P. Morgan is set to shut down its two currency-hedged “Diversified Return” funds. The JPMorgan Diversified Return Europe Currency Hedged ETF (JPEH) and the JPMorgan Diversified Return International Currency Hedged ETF (JPIH) will see their last days of trading on March 28. While JPIH has nearly $32 million in assets, JPEH has roughly $7 million. Both funds launched in April 2016.

Beyond March

Looking ahead to next month, VanEck has announced it will be shutting down three of its ETFs. Each will see their last day of trading on April 12. None of the three funds has more than $15 million in AUM. The trio of ETFs is as follows:

PRB and PLND launched in 2009, while GNRX launched in 2016.

The new announcements for planned ETF shutdowns bring the total of closures for the year to 39. While it is not record-breaking by any means, the number represents a brisk pace for fund shutdowns during the early months of the year.

Contact Heather Bell at [email protected]

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