New product introduction ran extremely slow most of November until a flurry of launches appeared on the last day of the month. Just eight products arrived throughout the first twenty-nine days before the last minute rush of 17 new arrivals on November 30. The 25 new products consisted of six ETFs and 19 ETNs. Two ETFs saw their last day of trading in November, putting the net increase at 23.
November’s activity pushed the number of new launches to over 200 so far in 2010, while closures climbed to 39. The month ended with a total of 1,091 ETPs (961 ETFs and 130 ETNs) listed for trading in US markets.
Trading activity picked up more than 8% from October’s pace with dollar volume exceeding $1.4 trillion for the month. With 21 trading days, this works out to more than $67 billion per day in ETP trading.
The number of ETFs in the Billion Dollar Club, those averaging more than one billion dollars in daily trading activity, increased from seven to ten this month. Products averaging more than $100 million per day came in at 66, an increase of three from October.
Assets in ETFs and ETNs increased less than 1% for the month and now sit at $947.0 billion, a 19.7% increase for the year-to-date period.
|November 2010 Month End||ETFs||ETNs||Total|
|Currently Listed U.S.||961||130||1,091|
|Listed as of 12/31/2009||836||89||925|
|New Introductions for Month||6||19||25|
|Delistings/Closures for Month||2||0||2|
|Net Change for Month||+4||+19||+23|
|New Introductions YTD||164||41||205|
|Net Change YTD||+125||+41||+166|
|Assets Under Mgmt ($ billion)||$933.6||$13.4||$947.0|
|% Change in Assets||+0.7%||+1.4%||+0.7%|
|Monthly $ Volume ($ billion)||$1,399||$17.8||$1,417|
|% Change in Monthly $ Volume||+8.4%||+19.5%||+8.5%|
|Avg Daily $ Volume > $1 Billion||10||0||10|
|Avg Daily $ Volume > $100 Million||65||1||66|
|Avg Daily $ Volume > $10 Million||212||9||221|
|% on Deathwatch||11.2%||23.9%||12.7%|
Data sources: AUM from National Stock Exchange, 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 November (in chronological order):
- PIMCO Broad U.S. Treasury Index Fund (TRSY) (Another Treasury ETF)
- UBS E-TRACS Wells Fargo MLP Index ETN (MLPW) (MLPW Is Near Clone of AMJ)
- Vanguard Global ex-U.S. Real Estate ETF (VNQI) (Vanguard Slow to Provide Data on New International Real Estate ETF)
- Global X Gold Explorers ETF (GLDX) (First You Have To Find the Gold)
- Global X Uranium ETF (URA) (New Uranium Miners ETF from Global X)
- Global X FTSE Norway 30 ETF (NORW) (Global X Launches Norway ETF)
- iShares MSCI Russia Capped Index Fund (ERUS) (New iShares Russia ETF Fails To Differentiate Itself)
- C-Tracks Citi Volatility Index Total Return ETN (CVOL) (Citigroup Belly-Flops Into ETP Sponsor Pool)
- VelocityShares Daily Inverse VIX Short-Term ETN (XIV) (Newcomer VelocityShares Introduces Suite of Volatility ETNs)
- VelocityShares Daily Inverse VIX Medium-Term ETN (ZIV)
- VelocityShares VIX Short-Term ETN (VIIX)
- VelocityShares VIX Medium-Term ETN (VIIZ)
- VelocityShares Daily 2x VIX Short-Term ETN (TVIX)
- VelocityShares Daily 2x VIX Medium-Term ETN (TVIZ)
- iPath Long Extended S&P 500 TR Index ETN (SFLA) (Eleven New iPath ETNs With Indescribable Leverage)
- iPath Short Extended S&P 500 TR Index ETN (SFSA)
- iPath Long Extended Russell 1000 TR Index ETN (ROLA)
- iPath Short Extended Russell 1000 TR Index ETN (ROSA)
- iPath Long Extended Russell 2000 TR Index ETN (RTLA)
- iPath Short Extended Russell 2000 TR Index ETN (RTSA)
- iPath Long Enhanced MSCI EAFE Index ETN (MFLA)
- iPath Short Enhanced MSCI EAFE Index ETN (MFSA)
- iPath Long Enhanced MSCI Emerging Markets Index ETN (EMLB)
- iPath Short Enhanced MSCI Emerging Markets Index ETN (EMSA)
- iPath Long Enhanced S&P 500 VIX Mid-Term Futures ETN (VZZ)
Product closures/delistings in November:
- Direxion Daily 2-Year Treasury Bull 3x Shares (TWOL) (Direxion To Close 2-Year Treasury 3x ETFs)
- Direxion Daily 2-Year Treasury Bear 3x Shares (TWOZ)
Product changes in November:
- iPath S&P 500 VIX Short-Term Futures ETN (VXX) underwent a 1:4 reverse split on 11/09/10
Announced Product Changes for Coming Months:
- PowerShares closing 10 ETFs 12/14/10 (PowerShares Closing 10 ETFs in December)
Previous monthly ETF statistics reports are available here.
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.