Market insights and analysis

How dynamic, risk-managed investment solutions are performing in the current market environment

4th Quarter | 2023

Quarterly recap



Current market environment performance of dynamic, risk-managed investment solutions.

In December, 26 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list and 21 were removed, bringing the total to 512.

Fifteen products were removed due to improved health, and six were delisted.

Twenty-three of the additions to the list were due to low trading volume. The low volume in these products could be due to the nature of their investment product. Three were added due to low assets under management (“AUM”). These ETPs may have enough assets under management (“AUM”) to keep them from closure. However, our system takes into account both AUM and volume. If both remain low, these funds may be considered for closure.

Forty-two 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 decreased from $8.93 million to $8.55 million, and 50 products had less than $2 million in assets. The average age of products on the list increased from 41.95 months to 42.23 months, and the number of products at least 5 years of age increased from 112 to 115. The largest ETP on the list had an AUM of $24.93 million, while the smallest had assets of just $239,800.

Here is the Complete List of 512 ETPs on ETF Deathwatch for December 2022 compiled using the objective ETF Deathwatch Criteria.

The 23 ETPs added to ETF Deathwatch for December due to low trading volume:

  1. iShares Inflation Hedged US Aggregate Bond ETF (AGIH)
  2. iShares Interest Rate Hedged US Aggregate Bond ETF (AGRH)
  3. AOT Growth and Innovation ETF (AOTG)
  4. FT Cboe Vest Gold Strategy Quarterly Buffer ETF (BGLD)
  5. ETRACS Monthly Pay 1.5X Leveraged Closed-End Fund Index ETN (CEFD)
  6. ProShares Long Online/Short Stores ETF (CLIX)
  7. Ionic Inflation Protection ETF (CPII)
  8. WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
  9. Franklin FTSE Europe Hedged ETF (FLEH)
  10. iShares Inflation Hedged High Yield Bond ETF (HYGI)
  11. WisdomTree Alternative Income Fund (HYIN)
  12. Global X Interest Rate Hedge ETF (RATE)
  13. Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH)
  14. IQ Winslow Focused Large Cap Growth ETF (IWFG)
  15. IQ Winslow Large Cap Growth ETF (IWLG)
  16. KraneShares Bloomberg China Bond Inclusion Index ETF (KBND)
  17. WisdomTree Mortgage Plus Bond Fund (MTGP)
  18. NightShares 500 ETF (NSPY)
  19. Nuveen Global Net Zero Transition ETF (NTZG)
  20. Invesco S&P SmallCap Materials ETF (PSCM)
  21. Invesco ESG Nasdaq 100 ETF (QQMG)
  22. Invesco ESG S&P 500 Equal Weight ETF (RSPE)
  23. BondBloxx CCC-Rated USD High Yield Corporate Bond ETF (XCCC)

 The 3 ETPs added to ETF Deathwatch due to low AUM:

  1. MicroSectors Travel 3X Inverse Leveraged ETN (FLYD)
  2. MicroSectors Travel 3X Leveraged ETN (FLYU)
  3. ProShares UltraShort Basic Materials (SMN)

 The 15 ETPs removed from ETF Deathwatch due to improved health:

  1. Global X MSCI China Consumer Staples ETF (CHIS)
  2. Pacer Emerging Markets Cash Cows 100 ETF (ECOW)
  3. First Trust TCW Emerging Markets Debt ETF (EFIX)
  4. Clockwise Capital Innovation ETF (TIME)
  5. Innovator Growth-100 Accelerated ETF-Quarterly (XDQQ)
  6. First Trust Exchange-Traded Fund VIII-FT Cboe Vest International Equity Buffer E (YDEC)
  7. FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ)
  8. Goose Hollow Tactical Allocation ETF (GHTA)
  9. Invesco S&P International Developed Momentum ETF (IDMO)
  10. Dividend Performers ETF (IPDP)
  11. John Hancock Preferred Income ETF (JHPI)
  12. Pacer Swan SOS Conservative January ETF (PSCX)
  13. Simplify US Equity PLUS Upside Convexity ETF (SPUC)
  14. Innovator US Equity Accelerated Plus ETF-October (XTOC)
  15. Zacks Earnings Consistent Portfolio ETF (ZECP)

The 6 ETPs removed from ETF Deathwatch due to delisting:

  1. VictoryShares Emerging Market High Dividend Volatility WTD Index ETF (CEY)
  2. iPath S&P MLP ETN (IMLP)
  3. ETFMG 2X Daily Alternative Harvest ETF (MJXL)
  4. iPath Return on Disability ETN (RODI)
  5. iPath Silver ETN (SBUG)
  6. iPath Women in Leadership ETN (WIL)

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