ETF Statistics For April 2012: Listed Count At 1,457
Ron Rowland: Eighteen new ETFs and two ETNs came to market in April. The twenty new product introductions places the year-to-date launch count at 105, but the net increase is only 88 as a results of the 17 closures. The number of listed products was 1,457 at month-end, consisting of 1,243 ETFs and 214 ETNs.
Assets under management slipped 0.4% to just under $1.21 trillion. Trading activity fell off for the first time in three months as total dollar volume (value traded) came in at $1.22 trillion, down 8.7% from $1.34 trillion in March.
ETFs averaging more than $1 billion per day of trading decreased from eleven to just seven, accounting for 57.0% of all traded ETP value. ETPs averaging more than $100 million in dollar volume per day decreased from 72 to 63 while capturing 88.4% of trading activity. The quantity with more than $10 million of trading per day edged down from 245 to 230, grabbing 97.7% of trading. The other 84% of currently listed products had to fight for the remaining 2.3% of traded value.
Notable events for the month of April include the introduction of three actively-managed ETFs from State Street carrying the SPDR brand and the first-ever tax-related expense ratio increase for an ETF, which happens to be holding tax-advantaged MLPs.
|April 2012 Month End||ETFs||ETNs||Total|
|Currently Listed U.S.||1,243||214||1,457|
|Listed as of 12/31/2011||1,166||203||1,369|
|New Introductions for Month||18||2||20|
|Delistings/Closures for Month||1||0||1|
|Net Change for Month||+17||+2||+19|
|New Introductions 6 Months||120||18||138|
|New Introductions YTD||94||11||105|
|Net Change YTD||+77||+11||+88|
|Assets Under Mgmt ($ billion)||$1,188||$17.4||$1,205|
|% Change in Assets for Month||-0.4%||+1.8%||-0.4%|
|Monthly $ Volume ($ billion)||$1,197||$25.2||$1,222|
|% Change in Monthly $ Volume||-8.3%||-25.2%||-8.7%|
|Avg Daily $ Volume > $1 Billion||7||0||7|
|Avg Daily $ Volume > $100 Million||62||1||63|
|Avg Daily $ Volume > $10 Million||219||11||230|
Data sources: Daily prices and volume of individual ETPs from Norgate Premium Data. Fund counts and all other information compiled by Invest With An Edge.
New products launched in April (sorted by name):
- Global X MLP ETF (MLPA), a taxable C-corporation with an effective tax rate of 37.5% holding MLPs, launched 4/19/12 on NYSE (MLPA overview). Additional information in MLPA: Another C-Corp Double Taxation ETF.
- Guggenheim BulletShares 2016 High Yield Corporate Bond ETF (BSJG), holding US dollar denominated below-investment-grade corporate bonds maturing in 2016, launched 4/25/12 on NYSE (BSJG overview).
- Guggenheim BulletShares 2017 High Yield Corporate Bond ETF (BSJH), holding US dollar denominated below-investment-grade corporate bonds maturing in 2017, launched 4/25/12 on NYSE (BSJH overview).
- Guggenheim BulletShares 2018 High Yield Corporate Bond ETF (BSJI), holding US dollar denominated below-investment-grade corporate bonds maturing in 2018, launched 4/25/12 on NYSE (BSJI overview).
- iShares Baa-Ba Rated Corporate Bond Fund (QLTB), holding investment-grade and below-investment-grade corporate debt denominated in US dollars, launched 4/26/12 on BATS (QLTB overview).
- iShares B-Ca Rated Corporate Bond Fund (QLTC), holding below-investment-grade corporate debt denominated in US dollars, launched 4/26/12 on BATS (QLTC overview).
- iShares Emerging Markets Corporate Bond Fund (CEMB), holding investment-grade emerging market corporate debt denominated in US dollars, launched 4/19/12 on BATS (CEMB overview).
- iShares Emerging Markets High Yield Bond Fund (EMHY), holding below-investment-grade emerging market sovereign and corporate debt denominated in US dollars, launched 4/3/12 on BATS (EMHY overview).
- iShares Global ex USD High Yield Corporate Bond Fund (HYXU), holding below-investment-grade developed markets corporate debt denominated in currencies other than US dollars, launched 4/3/12 on BATS (HYXU overview).
- iShares Global High Yield Corporate Bond Fund (GHYG), holding below-investment-grade developed market corporate debt, launched 4/5/12 on BATS (GHYG overview).
- iShares Morningstar Multi-Asset Income Index Fund (IYLD), an ETF of ETFs targeting allocations of 20% equity, 60% fixed income, and 20% alternative income. It launched 4/5/12 on BATS (IYLD overview).
- Market Vectors Fallen Angel High Yield Bond ETF (ANGL), holding below-investment-grade corporate debt denominated in US dollars that was rated investment grade when issued, launched 4/11/12 on NYSE (ANGL overview).
- Market Vectors International High Yield Bond ETF (IHY), holding below-investment-grade developed and emerging market sovereign and corporate debt, launched 4/3/12 on NYSE (IHY overview).
- Market Vectors Morningstar Wide Moat Research ETF (MOAT), holding 20 equal-weighted companies believed to be attractively priced with sustainable competitive advantages, launched 4/25/12 on NYSE (MOAT overview).
- RBS China Trendpilot ETN (TCHI), an exchange-traded note tracking the performance of China ADRs timed with a 100-day moving average, launched 4/19/12 on NYSE (TCHI overview).
- SPDR SSgA Multi-Asset Income Allocation ETF (INKM), an actively managed ETF of ETFs seeking total return of global income oriented investments, launched 4/26/12 on NYSE (INKM overview).
- SPDR SSgA Multi-Asset Global Allocation ETF (GAL), an actively managed ETF of ETFs seeking capital appreciation across multiple global asset classes, launched 4/26/12 on NYSE (GAL overview).
- SPDR SSgA Multi-Asset Real Return ETF (RLY), an actively-managed ETF of ETFs seeking inflation-adjusted capital appreciation and income, launched 4/26/12 on NYSE (RLY overview).
- UBS-ETRACS DJ-UBS Commodity Index 2-4-6 Blended Futures ETN (BLND), an exchange-trade note tracking the performance of futures contracts of multiple commodities across multiple time frames, launched 4/26/12 on NYSE (BLND overview).
- United States Agriculture Index Fund (USAG), holding futures contracts targeting the performance of the SummerHaven Dynamic Agriculture Index Total Return, launched 4/13/12 on NYSE (USAG overview).
Product closures/delistings in April:
- Jefferies | TR/J CRB Wildcatter Exploration & Production Equity ETF (WCAT) [No More Wildcatters: WCAT Closing].
Product changes in April:
- PIMCO Total Return ETF changed its ticker symbol from TRXT to BOND effective April 4.
- Alerian MLP ETF (AMLP) had a 64.7% increase in its expense ratio, going from 0.85% to 1.40%, effective April 19 [AMLP Makes Tax Payment and Raises Expense Ratio].
- PowerShares Golden Dragon Halter USX China Portfolio (PGJ) became PowerShares Golden Dragon China Portfolio (PGJ) effective April 30.
Announced Product Changes for Coming Months:
- ProShares will forward split six ETFs and reverse split eleven ETFs effective May 11.
Previous monthly ETF statistics reports are available here.
Written By Ron Rowland From Invest With An Edge No positions in any of the securities mentioned.
Ron Rowland is the founder of Invest With An Edge and serves as the Executive Editor. He is also editor of AllStarInvestor.com and Chief Investment Officer of Capital Cities Asset Management (www.ccam.com). Quoted widely in the financial media, Ron is the industry go-to guy for sector rotation insight and investment strategies using ETFs and mutual funds.