Market insights and analysis

In April, 58 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list and 37 were removed, bringing the total to 776 ETPs.

All of the additions were due to low trading volume. The low volume could be due to the nature of their investment product. None were due to low assets under management (“AUM”). Our system takes into account both AUM and volume. If both remain low, these funds could be considered for closure.

Among the removals, four were due to delisting, and 33 were due to improved health.

Seventy-eight ETPs on Deathwatch this month have been in the market for at least 10 years, including many short ETPs.

The average asset level of the threatened ETPs on ETF Deathwatch increased from $9.71 million to $10.39 million, and 56 products had assets of less than $2 million. The average age of products on the list increased from 45.04 months to 45.32 months, and the number of products at least 5 years of age stayed at 146. The largest ETP on the list had an AUM of $24.94 million, while the smallest had assets of just $444,295.

Here is the complete list of 776 ETPs on ETF Deathwatch for April 2025 compiled using the objective ETF Deathwatch Criteria.

ETPs added to ETF Deathwatch for April due to low trading volume:

1. LeaderShares Activist Leaders ETF (ACTV)
2. TrueShares Structured Outcome April ETF (APRZ)
3. Abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM)
4. YieldMax Target 12 Big 50 Option Income ETF (BIGY)
5. IQ Cleaner Transport ETF (CLNR)
6. Calamos S&P 500 Structured Alt Protection ETF – November (CPSN)
7. Global X CleanTech ETF (CTEC)
8. Calvert US Select Equity ETF (CVSE)
9. First Trust Bloomberg Artificial Intelligence ETF (FAI)
10. Fidelity Enhanced US All-Cap Equity ETF (FEAC)
11. Fidelity Enhanced Emerging Markets ETF (FEMR)
12. Fidelity Fundamental Developed International ETF (FFDI)
13. Fidelity Fundamental Emerging Markets ETF (FFEM)
14. FT Vest US Equity Quarterly Dynamic Buffer ETF (FHDG)
15. FIRE Funds Income Target ETF (FIRI)
16. FIRE Funds Wealth Builder ETF (FIRS)
17. FPA Short Duration Government ETF (FPAS)
18. Goldman Sachs Future Consumer Equity ETF (GBUY)
19. The Goldman Sachs Future Planet Equity ETF (GSFP)
20. iShares LifePath Target Date 2025 ETF (ITDA)
21. iShares LifePath Target Date 2070 ETF (ITDJ)
22. Janus Henderson U.S. Real Estate ETF (JRE)
23. Innovator US Small Cap Power Buffer ETF – November (KNOV)
24. KFA Value Line Dynamic Core Equity Index ETF (KVLE)
25. iShares iBonds 1-5 Year Corporate Ladder ETF (LDRC)
26. iShares iBonds 1-5 Year High Yield and Income Ladder ETF (LDRH)
27. iShares iBonds 1-5 Year Tips Ladder ETF (LDRI)
28. iShares iBonds 1-5 Year Treasury Ladder ETF (LDRT)
29. SPDR Nuveen Municipal Bond ESG ETF (MBNE)
30. Matthews China Active ETF (MCH)
31. GraniteShares 2x Long MU Daily ETF (MULL)
32. ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN (MVRL)
33. StockSnips AI-Powered Sentiment US All Cap ETF (NEWZ)
34. FT Vest US Equity Max Buffer ETF – November (NOVM)
35. AllianzIM US Equity Buffer15 Uncapped Nov ETF (NVBU)
36. IQ Clean Oceans ETF (OCEN)
37. Parametric Equity Plus ETF (PEPS)
38. Pacer Swan SOS Flex July ETF (PSFJ)
39. Rayliant SMDAM Japan Equity ETF (RAYJ)
40. RiverFront Dynamic Flex-Cap ETF (RFFC)
41. FT Vest US Equity Equal Weight Buffer ETF – September (RSSE)
42. Sofi Next 500 ETF (SFYX)
43. Syntax Stratified Total Market Hedged ETF (SHUS)
44. Syntax Stratified MidCap ETF (SMDY)
45. ETRACS MON PAY 2X LEV –B (SMHD)
46. Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX)
47. Syntax Stratified SmallCap ETF (SSLY)
48. Stance Sustainable Beta ETF (STSB)
49. Syntax Stratified Total Market II ETF (SYII)
50. Amplify Bloomberg US Treasury Target High Income ETF (TLTP)
51. GraniteShares 2x Long TSM Daily ETF (TSMU)
52. ETRACS UBS Bloomberg Constant Maturity Commodity Indx CMCI Total Return ETN Se B (UCIB)
53. ProShares Ultra High Yield (UJB)
54. Atlas America Fund (USAF)
55. US Treasury 20 Year Bond ETF (UTWY)
56. FT Vest US Equity Enhance & Moderate Buffer ETF – April (XAPR)
57. BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF (XHYD)
58. FT Vest US Equity Enhance & Moderate Buffer ETF – May (XMAY)

ETPs removed from ETF Deathwatch due to delisting:

1. Alpha Architect Global Factor Equity ETF
2. Invesco Short Duration Total Return Bond ETF
3. Global X Dorsey Wright Thematic ETF
4. Themes US Cash Flow Champions ETF

ETPs removed from ETF Deathwatch due to improved health:

1. AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF (AUGU)
2. Avantis All International Markets Value ETF (AVNV)
3. STKD Bitcoin & Gold ETF (BTGD)
4. FT Vest Laddered International Moderate Buffer ETF (BUFY)
5. Changebridge Capital Sustainable Equity ETF (CBSE)
6. Alger Concentrated Equity ETF (CNEQ)
7. 3EDGE Dynamic International Equity ETF (EDGI)
8. ProShares Ultra MSCI Emerging Markets (EET)
9. iShares MSCI Belgium ETF (EWK)
10. Franklin Ethereum ETF (EZET)
11. Federated Hermes MDT Large Cap Value ETF (FLCV)
12. iShares iBonds Oct 2031 Term Tips ETF (IBIH)
13. Innovator International Developed 10 Buffer ETF – Quarterly (IBUF)
14. Innovator International Developed Power Buffer ETF – May (IMAY)
15. Blackrock US Industry Rotation ETF (INRO)
16. iShares LifePath Target Date 2045 ETF (ITDE)
17. iShares LifePath Target Date 2050 ETF (ITDF)
18. Innovator US Small Cap Power Buffer ETF – June (KJUN)
19. Virtus KAR Mid-Cap ETF (KMID)
20. Morgan Dempsey Large Cap Value ETF (MDLV)
21. Tradr 2X Long Triple Q Monthly ETF (MQQQ)
22. LHA Market State Tactical Q ETF (MSTQ)
23. SPDR SSGA My2026 Corporate Bond ETF (MYCF)
24. Neuberger Berman Japan Equity ETF (NBJP)
25. Nuveen ESG Dividend ETF (NUDV)
26. PGIM US Large-Cap Buffer 20 ETF – December (PBDE)
27. PeakShares Sector Rotation ETF (PSTR)
28. ProShares Inflation Expectations ETF (RINF)
29. TrueShares Structured Outcome September ETF (SEPZ)
30. Legg Mason Small-Cap Quality Value ETF (SQLV)
31. Simplify Volt TSLA Revolution ETF (TESL)
32. Xtrackers US 0-1 Year Treasury ETF (TRSY)
33. First Trust Expanded Technology ETF (XPND)