ETF Deathwatch: Third quarter 2025

In the third quarter of 2025, 16 exchange-traded products (“ETPs”) were added to the ETF Deathwatch list, and 184 were removed, bringing the total down to 618.

Among the additions this quarter, 16 were due to low trading volume. The low volume may be related to the nature of their investment products. 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 for the quarter, 111 were due to delisting and 73 were due to improved health.

Seventy-one ETPs on Deathwatch this quarter 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 $10.32 million to $10.81 million, and 46 products had assets of less than $2 million. The average age of products on the list rose from 44.77 months to 51.52 months, while the number of products at least 5 years old decreased to 128. The largest ETP on the list had an AUM of $24.92 million, while the smallest had assets of just $387,745.

Here is the complete list of 618 ETPs on ETF Deathwatch for Q3 2025, compiled using the objective ETF Deathwatch Criteria.

ETPs added to ETF Deathwatch in Q3 2025 due to low trading volume:

1. iShares Interest Rate Hedged US Aggregate Bond ETF (AGRH)
2. Avantis All International Markets Value ETF (AVNV)
3. Calamos Nasdaq 100 Structured Alt Protection ETF – December (CPNQ)
4. iShares ESG Aware MSCI USA Growth ETF (EGUS)
5. AllianzIM US Equity 6 Month Floor5 Jan/Jul ETF (FLJJ)
6. First Trust Nasdaq Food & Beverage ETF (FTXG)
7. First Trust Horizon Managed Volatility Developed International ETF (HDMV)
8. Innovator US Small Cap Power Buffer ETF – June (KJUN)
9. Direxion Daily MSCI Mexico Bull 3x Shares (MEXX)
10. TrueShares Structured Outcome November ETF (NOVZ)
11. TrueShares Structured Outcome October ETF (OCTZ)
12. PGIM US Large-Cap Buffer 20 ETF – December (PBDE)
13. ProShares Inflation Expectations ETF (RINF)
14. Innovator 20+ Year Treasury Bond 5 Floor ETF – July (TFJL)
15. Timothy Plan Large/Mid Cap Core Enhanced ETF (TPLE)
16. Xtrackers US 0-1 Year Treasury ETF (TRSY)

ETPs removed from ETF Deathwatch in Q3 2025 due to delisting:

1. iShares Inflation Hedged US Aggregate Bond ETF (AGIH)
2. ClearBridge All Cap Growth ETF (CACG)
3. iShares Commodity Curve Carry Strategy ETF (CCRV)
4. Direxion Daily Cloud Computing Bull 2X Shares (CLDL)
5. IQ Cleaner Transport ETF (CLNR)
6. VictoryShares Small Cap Volatility Wtd ETF (CSA)
7. VictoryShares Discovery Enhanced Volatility Wtd ETF (CSF)
8. Unity Wealth Partners Dynamic Capital Appreciation & Options ETF (DCAP)
9. Arrow DWA Country Rotation ETF (DWCR)
10. iShares ESG Advanced Investment Grade Corporate Bond ETF (ELQD)
11. Mast Global Battery Recycling & Production ETF (EV)
12. First Trust Brazil AlphaDEX Fund (FBZ)
13. Foundations Dynamic Growth ETF (FDGR)
14. iShares Focused Value Factor ETF (FOVL)
15. Goldman Sachs Future Consumer Equity ETF (GBUY)
16. Indexiq Etf Trust-IQ Healthy Hearts ETF (HART)
17. iShares Inflation Hedged High Yield Bond ETF (HYGI)
18. iShares Cloud 5G and Tech ETF (IDAT)
19. Nifty India Financials ETF (INDF)
20. Dividend Performers ETF (IPDP)
21. Preferred-Plus ETF (IPPP)
22. iShares LifePath Target Date 2025 ETF (ITDA)
23. iShares MSCI Water Management Multisector ETF (IWTR)
24. KraneShares Dynamic Emerging Markets Strategy ETF (KEM)
25. LIFEX 2040 TERM INCOME ETF (LDER)
26. Tema Neuroscience and Mental Health ETF (MNTL)
27. Neuberger Berman Next Generation Connected Consumer ETF (NBCC)
28. ROUNDHILL NVDA WEEKLYPAY ETF (NVW)
29. IQ Clean Oceans ETF (OCEN)
30. Direxion Daily Travel & Vacation Bull 2X Shares (OOTO)
31. Global X PropTech ETF (PTEC)
32. Global X S&P 500 Quality Dividend Covered Call ETF (QDCC)
33. Global X Interest Rate Hedge ETF (RATE)
34. Hartford Multifactor Low Volatility International Equity ETF (RODE)
35. Hartford Multifactor International Small Company ETF (ROIS)
36. Simplify US Small Cap PLUS Income ETF (SCY)
37. Syntax Stratified MidCap ETF (SMDY)
38. VanEck HIP Sustainable Muni ETF (SMI)
39. Robinson Alternative Yield Pre-Merger SPAC ETF (SPAX)
40. Syntax Stratified SmallCap ETF (SSLY)
41. Syntax Stratified Total Market II ETF (SYII)
42. Syntax Stratified Total Market ETF (SYUS)
43. Defiance Daily Target 2X Long Uranium ETF (URAX)
44. Western Asset Total Return ETF (WBND)
45. Western Asset Short Duration Income ETF (WINC)
46. WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)
47. First Trust EIP Carbon Impact ETF (ECLN)
48. WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)
49. Eventide US Market ETF (EUSM)
50. MS FANG+ 3X LEVERAGED ETN (FNGB)
51. Global X MSCI Colombia ETF (GXG)
52. Hartford Short Duration ETF (HSRT)
53. Hartford Sustainable Income ETF (HSUN)
54. Knowledge Leaders Developed World ETF (KLDW)
55. Stone Ridge 2051 Longevity Income ETF (LFAJ)
56. Stone Ridge 2052 Longevity Income ETF (LFAK)
57. Stone Ridge 2054 Longevity Income ETF (LFAN)
58. Stone Ridge 2057 Longevity Income ETF (LFAR)
59. Stone Ridge 2059 Longevity Income ETF (LFAV)
60. Stone Ridge 2060 Longevity Income ETF (LFAW)
61. Stone Ridge 2061 Longevity Income ETF (LFAX)
62. Stone Ridge 2062 Longevity Income ETF (LFAZ)
63. Stone Ridge 2063 Longevity Income ETF (LFBB)
64. Stone Ridge 2064 Longevity Income ETF (LFBD)
65. Stone Ridge 2051 Inflation-Protected Longevity Income ETF (LIAF)
66. Stone Ridge 2052 Inflation-Protected Longevity Income ETF (LIAG)
67. Stone Ridge 2057 Inflation-Protected Longevity Income ETF (LIAP)
68. Stone Ridge 2059 Inflation-Protected Longevity Income ETF (LIAT)
69. Stone Ridge 2062 Inflation-Protected Longevity Income ETF (LIAW)
70. Intelligent Livermore ETF (LIVR)
71. Nuveen Small Cap Select ETF (NSCS)
72. WisdomTree Cboe S&P 500 Putwrite Strategy Fund (PUTW)
73. Cyber Hornet S&P 500 and Bitcoin 75/25 Strategy ETF (ZZZ)
74. NORTHERN TST TAX-EXPT B ETF (TAXS)
75. Themes Airlines ETF (AIRL)
76. ARK 21Shares Active Bitcoin Futures Strategy ETF (ARKA)
77. ARK 21Shares Blockchain and Digital Economy Innovation ETF (ARKD)
78. ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ)
79. BNY Mellon Innovators ETF (BKIV)
80. BNY Mellon Women's Opportunities ETF (BKWO)
81. 21Shares Core Ethereum ETF (CETH)
82. Columbia Research Enhanced Real Estate ETF (CRED)
83. iShares Edge U.S. Fixed Income Balanced Risk ETF (FIBR)
84. Themes European Luxury ETF (FINE)
85. The Goldman Sachs Future Planet Equity ETF (GSFP)
86. Harbor Corporate Culture Leaders ETF (HAPY)
87. Vest 2 Year Interest Rate Hedge ETF (HYKE)
88. FIS Knights of Columbus Global Belief ETF (KOCG)
89. Stone Ridge 2048 Longevity Income ETF (LFAE)
90. Stone Ridge 2049 Longevity Income ETF (LFAF)
91. Stone Ridge 2053 Longevity Income ETF (LFAL)
92. Stone Ridge 2056 Longevity Income ETF (LFAQ)
93. Stone Ridge 2058 Longevity Income ETF (LFAU)
94. Stone Ridge 2048 Inflation-Protected Longevity Income ETF (LIAB)
95. Stone Ridge 2049 Inflation-Protected Longevity Income ETF (LIAC)
96. Stone Ridge 2053 Inflation-Protected Longevity Income ETF (LIAJ)
97. Stone Ridge 2054 Inflation-Protected Longevity Income ETF (LIAK)
98. Stone Ridge 2056 Inflation-Protected Longevity Income ETF (LIAO)
99. Stone Ridge 2058 Inflation-Protected Longevity Income ETF (LIAQ)
100. Stone Ridge 2061 Inflation-Protected Longevity Income ETF (LIAV)
101.  Stone Ridge 2063 Inflation-Protected Longevity Income ETF (LIAX)
102.  Stone Ridge 2064 Inflation-Protected Longevity Income ETF (LIAY)
103.  VanEck Morningstar Wide Moat Growth ETF (MGRO)
104.  VanEck Morningstar ESG Moat ETF (MOTE)
105.  PGIM S&P 500 MB ETF - JAN (PMJA)
106.  American Century Quality Convertible Securities ETF (QCON)
107.  American Century Quality Preferred ETF (QPFF)
108.  Global X Solar ETF (RAYS)
109.  AXS Real Estate Income ETF (RINC)
110.  The Brinsmere Fund - Growth ETF (TBFG)
111.  Global X Wind Energy ETF (WNDY)

ETPs removed from ETF Deathwatch in Q3 2025 due to improved health:

1. Direxion Daily AI and Big Data Bull 2X Shares (AIBU)
2. VistaShares Artificial Intelligence Supercycle ETF (AIS)
3. Virtus AlphaSimplex Managed Futures ETF (ASMF)
4. FT Vest US Equity Max Buffer ETF - August (AUGM)
5. Virtus LifeSci Biotech Product ETF (BBP)
6. Invesco BulletShares 2032 High Yield Corporate Bond ETF (BSJW)
7. First Trust Commercial Mortgage Opportunities ETF (CAAA)
8. Range Global Coal Index ETF (COAL)
9. BlackRock Enhanced Short-Term Bond ETF (CSHP)
10. Global X CleanTech ETF (CTEC)
11. Global X MSCI SuperDividend EAFE ETF (EFAS)
12. NestYield Total Return Guard ETF (EGGS)
13. T-Rex 2X Long Ether Daily Target ETF (ETU)
14. iShares ESG Aware MSCI USA Value ETF (EVUS)
15. First Trust Bloomberg Artificial Intelligence ETF (FAI)
16. Fidelity Enhanced Emerging Markets ETF (FEMR)
17. FT Vest US Equity Quarterly Dynamic Buffer ETF (FHDG)
18. First Trust New York Municipal High Income ETF (FMNY)
19. Federated Hermes MDT Small Cap Core ETF (FSCC)
20. Fidelity Yield Enhanced Equity ETF (FYEE)
21. Simplify Gamma Emerging Market Bond ETF (GAEM)
22. Goldman Sachs Dynamic California Municipal Income ETF (GCAL)
23. VanEck Green Metals ETF (GMET)
24. First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
25. Innovator International Developed Power Buffer ETF - August (IAUG)
26. iShares iBonds 2031 Term High Yield and Income ETF (IBHK)
27. iShares LifePath Retirement ETF (IRTR)
28. iShares LifePath Target Date 2055 ETF (ITDG)
29. IQ Winslow Focused Large Cap Growth ETF (IWFG)
30. iShares Russell 2000 BuyWrite ETF (IWMW)
31. Janus Henderson Mid Cap Growth Alpha ETF (JMID)
32. FT Vest US Equity Max Buffer ETF - July (JULM)
33. KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ)
34. Kurv Technology Titans Select ETF (KQQQ)
35. Innovator US Small Cap Power Buffer ETF - September (KSEP)
36. KraneShares Hedgeye Hedged Equity Index ETF (KSPY)
37. First Trust Multi-Strategy Alternative ETF (LALT)
38. Global X Long-Term Treasury Ladder ETF (LLDR)
39. LSV Disciplined Value ETF (LSVD)
40. First Trust Multi-Manager Small Cap Opportunities ETF (MMSC)
41. AdvisorShares MSOS 2x Daily ETF (MSOX)
42. GraniteShares 2x Long MU Daily ETF (MULL)
43. MUSQ Global Music Industry ETF (MUSQ)
44. SPDR SSGA My2028 Corporate Bond ETF (MYCH)
45. SPDR SSGA My2029 Corporate Bond ETF (MYCI)
46. Innovator Growth-100 Power Buffer ETF - August (NAUG)
47. Roundhill BITKRAFT Esports & Digital Entertainment ETF (NERD)
48. National Security Emerging Markets Index ETF (NSI)
49. Simplify Next Intangible Core Index ETF (NXTI)
50. Overlay Shares Foreign Equity ETF (OVF)
51. PGIM US Large-Cap Buffer 20 ETF - July (PBJL)
52. PGIM US Large-Cap Buffer 20 ETF - September (PBSE)
53. PGIM Jennison International Opportunities ETF (PJIO)
54. Innovator Growth Accelerated Plus ETF - January (QTJA)
55. Innovator US Small Cap Managed Floor ETF (RFLR)
56. SPDR Kensho Final Frontiers ETF (ROKT)
57. Invesco ESG S&P 500 R Equal Weight ETF (RSPE)
58. Schwab Ariel ESG ETF (SAEF)
59. First Trust Structured Credit Income Opportunities ETF (SCIO)
60. FT Vest US Equity Max Buffer ETF - September (SEPM)
61. AllianzIM US Large Cap Buffer10 Sep ETF (SEPT)
62. Global X Short-Term Treasury Ladder ETF (SLDR)
63. Mohr Sector Nav ETF (SNAV)
64. Performance Trust Short Term Bond ETF (STBF)
65. iShares MSCI China Multisector Tech ETF (TCHI)
66. iShares Technology Opportunities Active ETF (TEK)
67. GraniteShares 2x Long TSM Daily ETF (TSMU)
68. Direxion Daily Uranium Industry Bull 2X Shares (URAA)
69. US Treasury 30 Year Bond ETF (UTHY)
70. ProShares Ultra Industrials (UXI)
71. Direxion Daily Consumer Bull (WANT)
72. Westwood Salient Enhanced Energy Income ETF (WEEI)
73. ProShares UltraShort Yen (YCS)