Market insights and analysis

In February, 174 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list and 37 were removed, bringing the total up to 701 ETPs.

Among the additions, 174 were due to low trading volume. The low volume in these products could be due to the nature of their investment product. None of the additions 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,18 were due to delisting, and 19 were due to improved health.

Seventy-six 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 $9.30 million to $10.07 million, and 53 products had less than $2 million in assets. The average age of products on the list increased from 42.80 months to 45.93 months, and the number of products at least 5 years of age increased to 135. The largest ETP on the list had an AUM of $24.99 million, while the smallest had assets of just $503,992.

Here is the complete list of 701 ETPs on ETF Deathwatch for February 2025 compiled using the objective ETF Deathwatch Criteria.

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

1. Alpha Architect Global Factor Equity ETF (AAVM)
2. Bitwise Ethereum Strategy ETF (AETH)
3. KraneShares Artificial Intelligence and Technology ETF (AGIX)
4. Direxion Daily AI and Big Data Bull 2X Shares (AIBU)
5. Harbor AlphaEdge Next Generation REITs ETF (AREA)
6. ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA)
7. ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ)
8. FT Vest US Equity Max Buffer ETF – August (AUGM)
9. JPMorgan BetaBuilders US Treasury Bond 3-10 Year ETF (BBIB)
10. JPMorgan BetaBuilders US Treasury Bond 20+ Year ETF (BBLB)
11. ProShares Bitcoin & Ether Equal Weight Strategy ETF (BETE)
12. ProShares Bitcoin & Ether Strategy ETF (BETH)
13. Bitwise Bitcoin Strategy Optimum Roll ETF (BITC)
14. Quadratic Deflation ETF (BNDD)
15. Invesco BulletShares 2034 Municipal Bond ETF (BSMY)
16. ProShares UltraShort MSCI Brazil Capped (BZQ)
17. Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG)
18. Teucrium Sugar Fund (CANE)
19. Alger Concentrated Equity ETF (CNEQ)
20. Sprott Copper Miners ETF (COPP)
21. Amplify Cash Flow Dividend Leaders ETF (COWS)
22. Calamos Convertible Equity Alternative ETF (CVRT)
23. DoubleLine Commodity Strategy ETF (DCMT)
24. SPDR Galaxy Digital Asset Ecosystem ETF (DECO)
25. PGIM US Large-Cap Buffer 12 ETF – December (DECP)
26. Hashdex Bitcoin Futures ETF (DEFI)
27. YieldMax Short NVDA Option Income Strategy ETF (DIPS)
28. Sparkline International Intangible Value ETF (DTAN)
29. AdvisorShares Dorsey Wright Short ETF (DWSH)
30. IDX Dynamic Innovation ETF (DYNI)
31. ProShares Ultra MSCI Emerging Markets (EET)
32. iShares MSCI Finland ETF (EFNL)
33. Macquarie Focused Emerging Markets Equity ETF (EMEQ)
34. ProShares UltraShort FTSE Euro (EPV)
35. iShares MSCI Emerging Markets Quality Factor ETF (EQLT)
36. ProShares Short MSCI Emerging Markets (EUM)
37. Direxion Daily Electric & Autonomous Vehicles Bull 2X Shares (EVAV)
38. iShares MSCI Emerging Markets Value Factor ETF (EVLU)
39. iShares MSCI Belgium ETF (EWK)
40. ProShares UltraShort MSCI Japan (EWV)
41. ProShares Ultra MSCI Japan (EZJ)
42. Fidelity Dynamic Buffered Equity ETF (FBUF)
43. Foundations Dynamic Core ETF (FDCE)
44. Foundations Dynamic Growth ETF (FDGR)
45. Foundations Dynamic Income ETF (FDTB)
46. Federated Hermes MDT Large Cap Value ETF (FLCV)
47. First Trust Latin America AlphaDEX Fund (FLN)
48. MicroSectors Travel 3X Leveraged ETN (FLYU)
49. Fidelity Real Estate Investment ETF (FPRO)
50. Fidelity Clean Energy ETF (FNRW)
51. Federated Hermes MDT Small Cap Core ETF (FSCC)
52. ProShares UltraShort FTSE China 50 (FXP)
53. WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN)
54. Pacer MSCI World Industry Advantage ETF (GLBL)
55. VictoryShares WestEnd Global Equity ETF (GLOW)
56. VanEck Green Metals ETF (GMET)
57. GammaRoad Market Navigation ETF (GMMA)
58. Strategy Shares Gold-Hedged Bond ETF (GOLY)
59. Invesco Short Duration Total Return Bond ETF (GTOS)
60. Goldman Sachs Ultra Short Municipal Income ETF (GUMI)
61. Tuttle Capital Self Defense Index ETF (GUNZ)
62. SPDR Kensho Smart Mobility ETF (HAIL)
63. Defiance Next Gen H2 ETF (HDRO)
64. Themes US Infrastructure ETF (HWAY)
65. Innovator International Developed Power Buffer ETF – August (IAUG)
66. iShares iBonds 2031 Term High Yield and Income ETF (IBHK)
67. VanEck Robotics ETF (IBOT)
68. Innovator International Developed 10 Buffer ETF – Quarterly (IBUF)
69. WisdomTree India Hedged Equity Fund (INDH)
70. Simplify Tara India Opportunities ETF (IOPP)
71. Global X Infrastructure Development EX-US ETF (IPAV)
72. iShares LifePath Retirement ETF (IRTR)
73. iShares LifePath Target Date 2030 ETF (ITDB)
74. iShares Russell 2000 BuyWrite ETF (IWMW)
75. Janus Henderson Mid Cap Growth Alpha ETF (JMID)
76. Innovator Premium Income 30 Barrier Etf-July (JULJ)
77. KraneShares China Alpha Index ETF (KCAI)
78. KraneShares Asia Pacific High Yield Bond ETF (KHYB)
79. Innovator US Small Cap Power Buffer ETF – September (KSEP)
80. KraneShares Hedgeye Hedged Equity Index ETF (KSPY)
81. Stone Ridge 2050 Longevity Income ETF (LFAI)
82. Stone Ridge 2051 Longevity Income ETF (LFAJ)
83. Stone Ridge 2052 Longevity Income ETF (LFAK)
84. Stone Ridge 2053 Longevity Income ETF (LFAL)
85. Stone Ridge 2054 Longevity Income ETF (LFAN)
86. Stone Ridge 2055 Longevity Income ETF (LFAO)
87. Stone Ridge 2056 Longevity Income ETF (LFAQ)
88. Stone Ridge 2057 Longevity Income ETF (LFAR)
89. Stone Ridge 2058 Longevity Income ETF (LFAU)
90. Stone Ridge 2059 Longevity Income ETF (LFAV)
91. Stone Ridge 2060 Longevity Income ETF (LFAW)
92. Stone Ridge 2061 Longevity Income ETF (LFAX)
93. Stone Ridge 2062 Longevity Income ETF (LFAZ)
94. Stone Ridge 2063 Longevity Income ETF (LFBB)
95. Themes US Cash Flow Champions ETF (LGCF)
96. Stone Ridge 2050 Inflation-Protected Longevity Income ETF (LIAE)
97. Stone Ridge 2051 Inflation-Protected Longevity Income ETF (LIAF)
98. Stone Ridge 2052 Inflation-Protected Longevity Income ETF (LIAG)
99. Stone Ridge 2062 Inflation-Protected Longevity Income ETF (LIAW)
100. Intelligent Livermore ETF (LIVR)
101. Global X Long-Term Treasury Ladder ETF (LLDR)
102. Direxion Daily Crypto Industry Bull 2X Shares (LMBO)
103. Morgan Dempsey Large Cap Value ETF (MDLV)
104. Matthews Emerging Markets Discovery Active ETF (MEMS)
105. Cambria Chesapeake Pure Trend ETF (MFUT)
106. VanEck Vectors Moodys Analytics IG Corporate ETF (MIG)
107. Global X Intermediate-Term Treasury Ladder ETF (MLDR)
108. Tradr 2X Long Triple Q Monthly ETF (MQQQ)
109. Direxion Daily MSFT Bear 1x Shares (MSFD)
110. T-Rex 2X Long Microsoft Daily Target ETF (MSFX)
111. ProShares Short MidCap 400 (MYY)
112. Neuberger Berman Japan Equity ETF (NBJP)
113. Global X India Active ETF (NDIA)
114. Nuveen ESG Dividend ETF (NUDV)
115. Innovator Premium Income 20 Barrier ETF – October (OCTH)
116. Innovator Premium Income 30 Barrier ETF – October (OCTJ)
117. Direxion Daily Travel & Vacation Bull 2X Shares (OOTO)
118. Pacer Nasdaq International Patent Leaders ETF (PATN)
119. PGIM US Large-Cap Buffer 20 ETF – November (PBNV)
120. Polen Capital Emerging Markets ex China Growth ETF (PCEM)
121. Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL)
122. Invesco S&P SmallCap Financials ETF (PSCF)
123. Pacer Swan SOS Flex April ETF (PSFM)
124. ProShares UltraShort Lehman 7-10 Year Treasury (PST)
125. Innovator Hedged Nasdaq-100 ETF (QHDG)
126. Defiance Nasdaq 100 Income Target ETF (QQQT)
127. Qraft AI-Enhanced Large Cap ETF (QRFT)
128. Global X Nasdaq 100 Risk Managed Income ETF (QRMI)
129. Innovator Growth Accelerated Plus ETF – January (QTJA)
130. Innovator Growth Accelerated Plus ETF – July (QTJL)
131. Rayliant Quantamental China Equity ETF (RAYC)
132. ProShares Short Real Estate (REK)
133. Innovator US Small Cap Managed Floor ETF (RFLR)
134. ProShares Inflation Expectations ETF (RINF)
135. Adaptive Core ETF (RULE)
136. Strategas Macro Momentum ETF (SAMM)
137. ProShares Short SmallCap600 (SBB)
138. ProShares Short Financials (SEF)
139. AllianzIM US Equity Buffer15 Uncapped Sep ETF (SEPU)
140. AllianzIM US Large Cap 6 Month Buffer10 May/Nov ETF (SIXZ)
141. Sanjac Alpha Core Plus Bond ETF (SJCP)
142. Sanjac Alpha Low Duration ETF (SJLD)
143. ProShares UltraShort Financials (SKF)
144. Global X Short-Term Treasury Ladder ETF (SLDR)
145. Harbor Active Small Cap ETF (SMLL)
146. SPDR Ssga US Equity Premium Income ETF (SPIN)
147. ProShares UltraShort Real Estate (SRS)
148. Strive Mid-Cap ETF (STXM)
149. Syntax Stratified Total Market ETF (SYUS)
150. ProShares Short 7-10 Treasury (TBX)
151. SPDR Galaxy Transformative Tech Accelerators ETF (TEKX)
152. Cambria Cannabis ETF (TOKE)
153. Direxion Daily Transportation Bull 3x Shares (TPOR)
154. Direxion Daily 7-10 Year Treasury Bear 3x Shares (TYO)
155. ProShares Ultra Consumer Services (UCC)
156. ProShares Ultra Consumer Goods (UGE)
157. United States 12 Month Natural Gas Fund LP (UNL)
158. ProShares Ultra Utilities (UPW)
159. Direxion Daily Uranium Industry Bull 2X Shares (URAA)
160. ProShares Ultra 7-10 Year Treasury (UST)
161. US Treasury 30 Year Bond ETF (UTHY)
162. ProShares Ultra Industrials (UXI)
163. Harbor AlphaEdge Large Cap Value ETF (VLLU)
164. Natixis Vaughan Nelson Select ETF (VNSE)
165. Western Asset Total Return ETF (WBND)
166. MicroSectors Energy 3X Leveraged ETN (WTIU)
167. SPDR S&P Emerging Markets ex-China ETF (XCNY)
168. FT Cboe Vest US Equity Enhance & Moderate Buffer ETF – November (XNOV)
169. ProShares Ultra FTSE China 50 (XPP)
170. Innovator US Equity Accelerated Plus ETF – January (XTJA)
171. Innovator Equity Accelerated Plus ETF-October (XTOC)
172. ProShares UltraShort Yen (YCS)
173. YieldMax N100 Short Option Income Strategy ETF (YQQQ)
174. Volatility Premium Plus ETF (ZVOL)

18 ETPs removed from ETF Deathwatch due to delisting:

1. CNIC ICE U.S. Carbon Neutral Power Futures Index ETF (AMPD)
2. Global X MSCI Emerging Markets Covered Call ETF (EMCC)
3. Global X Financials Covered Call & Growth ETF (FYLG)
4. Global X Health Care Covered Call & Growth ETF (HYLG)
5. Invesco Short Duration Total Return Bond ETF (ISDB)
6. iShares LifePath Target Date 2025 ETF (ITDA)
7. Amplify Thematic All-Stars ETF (MVPS)
8. Octane All-Cap Value Energy ETF (OCTA)
9. Amplify BlackSwan Tech & Treasury EFT (QSWN)
10. Global X NASDAQ 100 ESG Covered Call ETF (QYLE)
11. SinglePoint Inc. (SING)
12. Syntax Stratified MidCap ETF (SMDY)
13. Syntax Stratified SmallCap ETF (SSLY)
14. Syntax Stratified Total Market II ETF (SYII)
15. Syntax Stratified Total Market ETF (SYUS)
16. Themes US Cash Flow Champions ETF (USCF)
17. Alpha Architect Global Factor Equity ETF (VMOT)
18. Global X S&P 500 ESG Covered Call ETF (XYLE)

19 ETPs removed from ETF Deathwatch due to improved health:

1. TrueShares Structured Outcome April ETF (APRZ)
2. TrueShares Structured Outcome August ETF (AUGZ)
3. AB Corporate Bond ETF (EYEG)
4. Federated Hermes MDT Large Cap Growth ETF (FLCG)
5. AllianzIM US Equity 6 Month Floor5 Jan/Jul ETF (FLJJ)
6. iShares iBonds Oct 2030 Term Tips ETF (IBIG)
7. Innovator International Developed Power Buffer ETF – February (IFEB)
8. John Hancock Dynamic Municipal Bond ETF (JHMU)
9. TrueShares Structured Outcome November ETF (NOVZ)
10. TrueShares Structured Outcome October ETF (OCTZ)
11. Pacer Swan SOS Conservative December ETF (PSCX)
12. RiverFront Dynamic Flex-Cap ETF (RFFC)
13. AllianzIM US Large Cap 6 Month Buffer10 Feb/Aug ETF (SIXF)
14. T Rowe Price Intermediate Municipal Bond (TAXE)
15. BlackRock Future U.S. Themes ETF (THRO)
16. Cambria Tactical Yield ETF (TYLD)
17. US Treasury 20 Year Bond ETF (UTWY)
18. Virtus Newfleet ABS/MBS ETF (VABS)
19. Virtus Newfleet Short Duration High Yield Bond ETF (VSHY)