ETF Deathwatch for July 2011: The Count Increases to 155 - iShares Trust iShares MSCI Ireland ETF (ARCA:EIRL)

Nine funds are being added to ETF Deathwatch for July and two are coming off. The net increase of seven pushes the current quantity to 155, or 13.9% of all eligible products. The overall quantity consists of 111 ETFs and 44 ETNs. The average list member is 30 months old and has $16 million in assets.

For any given month, there are about 100 funds that have days with no trades – zero volume. On a daily basis, the number of ETPs with zero volume typically ranges between 30 and 40. We haven't performed a detailed analysis, but we don't recall ever seeing an ETP go an entire month without a trade – until now.

In June, not one, but three ETNs had zero volume for the entire month: iPath Pure Beta Aluminum ETN (FOIL), iPath Pure Beta Copper ETN (CUPM), and iPath Pure Beta Industrial Metals ETN (HEVY). The three ETNs were introduced a little over two months ago, so they are not currently eligible for ETF Deathwatch. However, this does not bode well. Look for them to be included in the upcoming October edition.

New ETFs, such as the iPath Pure Beta ETNs above, all receive a six-month grace period before they are eligible for ETF Deathwatch to give them time to gain traction with investors. Eighteen new ETPs came to market last December, and their grace period is now expired. Fourteen of them are showing early signs of success, while the following four are joining the ETF Deathwatch for July:

Direxion Airline Shares (FLYX) – the viability of FLYX was called into question when it was launched, and it only traded on five days in June.
PowerShares KBW International Financial (KBWX) has less than $3 million in assets and only traded on three days in June.
PowerShares KBW Property & Casualty Insurance (KBWP) has less than $4 million in assets and only traded on four days in June.
PowerShares KBW Premium Yield Equity REIT (KBWY) currently has a better chance of success than its two siblings above with nearly $8 million in assets and daily trades.

In addition to the four coming out of the grace period, the following five older ETFs are being added to the list this month:

Barclays GEMS Currency Index ETN (JEM) is back on the list after a one-month exodus. The questionable $90 million inflow in May we reported last month turned into a mysterious $90 million outflow in June, putting “official” assets back at $4 million.
Global X China Financials ETF (CHIX) trading activity dropped off and assets are about $6 million. However, this ETF is part of a sector suite and will therefore likely remain alive as long as the suite remains viable.
iShares 10+ Year Government/Credit Bond (GLJ) was introduced more than 18 months ago but saw trading activity drop off, including multiple days of zero volume.
iShares MSCI Ireland Capped Investable Market (EIRL), introduced in May 2010, recently had assets drop below $5 million coupled with trading activity tapering off.
Russell Equity ETF (ONEF) had a decline in trading activity, and assets are below $10 million. Russell marketing activities are currently focusing on the new Investment Discipline Index ETF and Factor ETF suites.

Two products came off ETF Deathwatch for July:

iPath EUR/USD Exchange Rate ETN (ERO) had a significant increase in trading activity the past three months, but assets are currently below $15 million.
ProShares Ultra Nasdaq Biotechnology (BIB) is showing increased trading activity and assets as strength in the biotechnology sector is driving interest in the leveraged fund.

The ETF Deathwatch criteria produced the following list of 155 names for July:

ETF Deathwatch for July 2011

#	Ticker Sym	ETF Name	Age (mths)	AUM (millions)	3-mth Avg Daily $ Volume
1	DENT	AdvisorShares Dent Tactical ETF	21.7	$17.0	$73,454
2	AADR	AdvisorShares WCM/BNY Mellon Foc Gr ADR	11.5	$8.7	$37,670
3	PGD	Barclays Asian&Gulf Currency Reval. ETN	36.9	$4.1	$12,215
4	BXDC	Barclays ETN+ S&P 500 2x Short C 2009 ETN	19.6	$2.0	$374,119
5	JEM	Barclays GEMS Currency Index ETN	41.5	$4.0	$19,954
6	ADRU	BLDRS Europe 100 ADR	105.0	$23.2	$163,419
7	GCE	Claymore CEF Index GS Connect ETN	43.3	$3.6	$29,113
8	GVT	Columbia Concentrated Large Cap Value Strat	26.2	$3.3	$4,149
9	GMTB	Columbia Core Bond Strategy Fund	17.2	$5.1	$11,019
10	RPX	Columbia Growth Equity Strategy Fund	21.2	$1.6	$77,128
11	GMMB	Columbia Intermediate Municipal Bond Strat	17.2	$5.1	$12,506
12	RWG	Columbia Large-Cap Growth Equity	21.2	$11.6	$154,997
13	XRU	CurrencyShares Russian Ruble Shares	32.1	$5.4	$294,546
14	TDD	db-X 2010 Target Date Fund	45.6	$14.4	$37,544
15	TDX	db-X In-Target Date Fund	45.6	$15.9	$40,596
16	FLYX	Direxion Airline Shares	6.8	$3.5	$8,560
17	BRIS	Direxion Daily BRIC Bear 2x	15.9	$2.5	$68,590
18	BRIL	Direxion Daily BRIC Bull 2x	15.9	$6.5	$230,845
19	INDZ	Direxion Daily India Bear 2x	15.9	$3.9	$348,454
20	LHB	Direxion Daily Latin America Bear 3x	19.1	$3.1	$283,573
21	GASX	Direxion Daily Natural Gas Related Bear 2x	11.7	$1.9	$95,203
22	RETS	Direxion Daily Retail Bear 2x	11.7	$2.3	$95,660
23	RETL	Direxion Daily Retail Bull 2x	11.7	$6.0	$132,294
24	FGEM	EGShares Financials GEMS ETF	21.7	$8.3	$83,677
25	BVL	ELEMENTS Ben Graham Large Cap Value ETN	35.0	$0.6	$2,691
26	BSC	ELEMENTS Ben Graham Small Cap Value ETN	35.0	$1.7	$14,498
27	BVT	ELEMENTS Ben Graham Total Mkt Value ETN	35.0	$3.3	$54,177
28	GWO	ELEMENTS CS Global Warming ETN	39.4	$3.6	$69,500
29	DOD	ELEMENTS Dogs of the Dow Total Return ETN	44.3	$4.8	$59,428
30	FUE	ELEMENTS MLCX Biofuels ETN	41.3	$8.9	$165,709
31	WMW	ELEMENTS Morningstar Wide Moat Focus ETN	45.0	$10.8	$63,591
32	EEH	ELEMENTS Spctrm LgCap US Sector Mo ETN	47.6	$1.1	$2,523
33	FZB	FaithShares Baptist Values Fund	18.7	$1.5	$4,205
34	FCV	FaithShares Catholic Values Fund	18.9	$3.1	$27,183
35	FOC	FaithShares Christian Values Fund	18.9	$3.1	$23,791
36	FKL	FaithShares Lutheran Values Fund	18.7	$1.5	$7,893
37	FMV	FaithShares Methodist Values Fund	18.9	$1.5	$15,042
38	FDD	First Trust DJ STOXX European Select Div	46.7	$11.6	$54,480
39	QABA	First Trust NASDAQ ABA Community Bank	24.3	$13.4	$63,264
40	FVI	First Trust Value Line Equity Allocation	55.6	$7.2	$58,694
41	BRAF	Global X Brazil Financials ETF	11.2	$9.4	$55,296
42	CHIX	Global X China Financials ETF	18.9	$6.0	$79,622
43	CHIB	Global X China Technology ETF	18.9	$6.9	$138,292
44	GIY	Guggenheim Enhanced Core Bond ETF	41.1	$5.3	$11,457
45	GSY	Guggenheim Enhanced Ultra-Short Bond ETF	41.1	$15.0	$107,553
46	EEN	Guggenheim EW Euro-Pacific LDRs ETF	52.7	$3.1	$32,701
47	XGC	Guggenheim International Small Cap LDRs	51.6	$10.5	$99,524
48	OTR	Guggenheim Ocean Tomo Growth Index ETF	51.7	$6.1	$33,887
49	OTP	Guggenheim Ocean Tomo Patent ETF	55.3	$10.9	$234,519
50	WXSP	Guggenheim Wilshire 4500 Completion ETF	15.9	$6.4	$16,906
51	WFVK	Guggenheim Wilshire 5000 Total Market ETF	15.9	$5.9	$53,571
52	EKH	HOLDRS Europe 2001	127.2	$4.2	$27,662
53	IIH	HOLDRS Internet Infrastructure	138.1	$11.1	$38,004
54	MKH	HOLDRS Merrill Lynch Market 2000+	131.9	$13.0	$50,197
55	WMH	HOLDRS Wireless	129.8	$14.1	$22,222
56	GBB	iPath GBP/USD Exchange Rate ETN	50.4	$2.6	$53,906
57	GRN	iPath Global Carbon ETN	36.7	$2.5	$50,644
58	EMLB	iPath Long Enh (2x) MSCI Emerging Mkts ETN	7.1	$5.4	$119,124
59	MFLA	iPath Long Enh (2x) MSCI EAFE Index ETN	7.1	$3.7	$130,000
60	ROLA	iPath Long Ext (3x) Russell 1000 TR ETN	7.1	$5.5	$25,135
61	EMSA	iPath Short Enh (-2x) MSCI Emerging Mkts ETN	7.1	$9.5	$196,226
62	MFSA	iPath Short Enh (-2x) MSCI EAFE Index ETN	7.1	$5.8	$86,440
63	ROSA	iPath Short Ext (-3x) Russell 1000 TR ETN	7.1	$2.8	$36,255
64	SFSA	iPath Short Ext (-3x) S&P 500 TR Index ETN	7.1	$4.5	$901,358
65	TWON	IQ Taiwan Small Cap	13.6	$4.4	$70,052
66	GLJ	iShares 10+ Year Government/Credit Bond	18.9	$21.1	$78,256
67	MUAE	iShares 2016 S&P AMT-Free Muni Series	18.0	$20.8	$112,502
68	IFNA	iShares FTSE NAREIT North America	44.0	$13.2	$73,540
69	AXDI	iShares MSCI ACWI ex US Consumer Discr	11.6	$6.7	$85,155
70	AXSL	iShares MSCI ACWI ex US Consumer Staples	11.6	$3.2	$42,388
71	AXEN	iShares MSCI ACWI ex US Energy	11.6	$6.4	$82,526
72	AXFN	iShares MSCI ACWI ex US Financials	17.5	$2.5	$5,510
73	AXHE	iShares MSCI ACWI ex US Health Care	11.6	$3.0	$97,037
74	AXID	iShares MSCI ACWI ex US Industrials	11.6	$6.2	$218,394
75	AXIT	iShares MSCI ACWI ex US Info Technology	11.6	$5.7	$77,377
76	AXMT	iShares MSCI ACWI ex US Materials	11.6	$6.8	$240,272
77	AXTE	iShares MSCI ACWI ex US Telecom Services	11.6	$3.0	$71,113
78	AXUT	iShares MSCI ACWI ex US Utilities	11.6	$2.6	$79,586
79	EMFN	iShares MSCI Emerging Markets Financials	17.5	$22.6	$24,765
80	FEFN	iShares MSCI Far East Financials Sector	17.5	$2.4	$3,520
81	EIRL	iShares MSCI Ireland Cap. Investable Mkt	14.0	$4.5	$96,106
82	EUSA	iShares MSCI USA Index Fund	14.0	$2.8	$44,042
83	TZD	iShares S&P Target Date 2010 Index Fund	32.3	$11.2	$134,380
84	TZE	iShares S&P Target Date 2015 Index Fund	32.3	$14.9	$126,094
85	TZI	iShares S&P Target Date 2025 Index Fund	32.3	$19.0	$119,218
86	TZL	iShares S&P Target Date 2030 Index Fund	32.3	$13.9	$78,552
87	TZO	iShares S&P Target Date 2035 Index Fund	32.3	$7.0	$37,321
88	TZV	iShares S&P Target Date 2040 Index Fund	32.3	$15.9	$97,605
89	TGR	iShares S&P Target Date Retirement Inc.	32.3	$9.1	$94,476
90	CRBI	Jefferies\|TR/J CRB Global Ind Metals Equity	20.4	$4.6	$55,533
91	DSXJ	JPM Qtrly Dbl Short US 10-Yr Treas Fut ETN	8.9	$10.0	$96,407
92	DSTJ	JPM Qtrly Dbl Short US Long Treas Fut ETN	8.9	$10.8	$17,513
93	JFT	KEYnotes FT Enhanced 130/30 Large Cap ETN	37.8	$3.7	$6,521
94	URR	Market Vectors Double Long Euro ETN	38.3	$1.2	$86,312
95	INR	Market Vectors Indian Rupee/USD ETN	40.0	$5.7	$53,048
96	NASI	Pax MSCI North America ESG Index	13.6	$4.3	$56,896
97	TRSY	PIMCO Broad U.S. Treasury Index Fund	8.0	$9.8	$5,739
98	PQZ	PowerShares Active Alpha Multi-Cap	39.2	$3.8	$29,902
99	PMA	PowerShares Active Mega-Cap Portfolio	39.1	$5.4	$57,413
100	LBND	PowerShares DB 3x Long 25+ TreasURY ETN	12.2	$3.4	$34,098
101	ADZ	PowerShares DB Agriculture Short ETN	39.0	$2.0	$56,974
102	BDG	PowerShares DB Base Metals Long ETN	37.0	$1.9	$15,848
103	BOS	PowerShares DB Base Metals Short ETN	36.9	$3.9	$68,714
104	DEE	PowerShares DB Commodity Dbl Short ETN	38.6	$3.7	$196,351
105	DPU	PowerShares DB Commodity Long ETN	38.6	$7.3	$48,881
106	DDP	PowerShares DB Commodity Short ETN	38.6	$2.9	$96,530
107	PEZ	PowerShares Dynamic Cons Discretionary	57.4	$20.4	$64,574
108	PIC	PowerShares Dynamic Insurance	69.1	$9.0	$25,909
109	PXSC	PowerShares Fundamental Pure Small Core	55.7	$16.8	$68,035
110	PSTL	PowerShares Global Steel Portfolio	33.7	$5.7	$110,154
111	PTO	PowerShares Ibbotson Alternative Completion	37.9	$8.9	$49,997
112	KBWX	PowerShares KBW International Financial	7.0	$2.6	$1,482
113	KBWY	PowerShares KBW Premium Yield Equity REIT	7.0	$7.8	$92,807
114	KBWP	PowerShares KBW Property & Casualty Ins	7.0	$3.8	$5,846
115	PYH	PowerShares Morningstar StockInvestor Core	55.7	$16.9	$58,265
116	PSCM	PowerShares S&P SmallCap Materials	15.0	$3.0	$27,647
117	SBM	ProShares Short Basic Materials	15.6	$5.4	$386,440
118	UPV	ProShares Ultra MSCI Europe	14.2	$4.0	$77,403
119	UMX	ProShares Ultra MSCI Mexico Investable Mkt	14.2	$2.1	$51,784
120	UXJ	ProShares Ultra MSCI Pacific Ex-Japan	14.2	$3.9	$152,424
121	UWC	ProShares Ultra Russell3000	24.3	$8.5	$68,707
122	YCL	ProShares Ultra Yen	31.6	$3.4	$185,923
123	SMDD	ProShares UltraPro Short S&P MidCap400	16.8	$13.0	$1,396,793
124	RXD	ProShares UltraShort Healthcare	53.7	$3.3	$95,132
125	SMK	ProShares UltraShort MSCI Mexico	24.7	$2.4	$29,454
126	JPX	ProShares UltraShort MSCI Pacific ex-Japan	24.7	$2.4	$30,252
127	BIS	ProShares UltraShort Nasdaq Biotechnology	14.9	$1.9	$78,026
128	SFK	ProShares UltraShort Russell 1000 Growth	52.9	$4.4	$164,611
129	SJF	ProShares UltraShort Russell 1000 Value	52.9	$2.2	$56,364
130	SDK	ProShares UltraShort Russell Midcap Growth	52.9	$2.6	$68,874
131	SJL	ProShares UltraShort Russell Midcap Value	52.9	$1.9	$62,508
132	TWQ	ProShares UltraShort Russell3000	24.3	$1.4	$36,884
133	TLL	ProShares UltraShort Telecom	39.7	$2.2	$50,023
134	SDP	ProShares UltraShort Utilities	53.7	$4.0	$59,910
135	ONEF	Russell Equity ETF	13.8	$13.2	$80,449
136	KME	SPDR KBW Mortgage Finance ETF	26.4	$3.8	$32,430
137	VRD	SPDR Nuveen S&P VRDO Municipal Bond ETF	21.5	$9.0	$89,823
138	IPF	SPDR S&P International Financial	35.7	$7.1	$75,677
139	IRY	SPDR S&P International Health Care	35.7	$19.8	$138,790
140	IPU	SPDR S&P International Utilities	35.7	$8.2	$35,118
141	MLPS	UBS ETRACS 1x Mthly Short Alerian MLP ETN	9.1	$8.3	$103,195
142	MLPG	UBS ETRACS Alerian Natural Gas MLP ETN	11.7	$15.0	$62,487
143	UBN	UBS ETRACS CMCI Energy TR ETN	39.4	$3.0	$13,296
144	UBG	UBS ETRACS CMCI Gold TR ETN	39.4	$6.7	$27,392
145	UBM	UBS ETRACS CMCI Industrial Metals TR ETN	39.4	$6.6	$29,160
146	UBC	UBS ETRACS CMCI Livestock TR ETN	39.4	$5.0	$10,525
147	PTD	UBS ETRACS CMCI Short Platinum ER ETN	38.2	$3.2	$1,930
148	SPGH	UBS ETRACS S&P 500 Gold Hedged Idx ETN	17.3	$12.9	$40,068
149	MLPW	UBS ETRACS Wells Fargo MLP Index ETN	8.0	$18.5	$75,881
150	IVOV	Vanguard S&P Mid-Cap 400 Value ETF	9.8	$6.3	$51,500
151	TVIZ	VelocityShares Daily 2x VIX Med-Term ETN	7.1	$8.2	$526,608
152	VIIZ	VelocityShares VIX Medium-Term ETN	7.1	$3.5	$61,108
153	EU	WisdomTree Dreyfus Euro	38.1	$10.0	$66,649
154	JYF	WisdomTree Dreyfus Japan Yen	37.8	$6.5	$40,728
155	HEDJ	WisdomTree International Hedged Equity	18.2	$20.9	$55,409

Data sources: AUM from National Stock Exchange, daily prices and volume of individual ETPs from Norgate Premium Data, and all other information compiled by Invest With An Edge.

Past issues of ETF Deathwatch are available here.

Disclosure covering writer, editor, and publisher: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.

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