ETF Deathwatch: October 2009

|
Includes: BSC, BVL, BVT, EEH, JEM, JFT, MZG, MZN, MZO, PTD
by: Ron Rowland

The “official” number of exchange-traded products on Deathwatch dropped for the second month in a row. This month’s list contains 111 names, seven fewer than last month.

E-TRACS CMCI Short Platinum Excess Return (NYSEARCA:PTD) heads the list again this month. PTD saw action on only three days in September, with a total of 500 shares traded for the entire month. The other 18 days were all zero volume days. The last trade took place back on September 17. Many ETF investors have never heard of E-TRACS, which may be why 90% of their product line is on ETF Deathwatch this, and every, month.

Other names seem to be perpetually near the top of the list. Funds like Elements Special Large Cap US Sector Momentum ETN (NYSEARCA:EEH), Claymore/Morningstar Services SuperSector (NYSE:MZO) (along with its brothers MZN and MZG), and the Elements Ben Graham trio (BVL, BSC, and BVT) show up month after month. The sponsors will need to do something eventually.

The recent regulatory activity of the CFTC on commodity-based funds caused PowerShares DB Crude Oil Double Long ETN (DXO) to be delisted and liquidated in September. It also prompted me to place all commodity ETFs and ETNs on “unofficial” ETF Deathwatch until these issues are resolved.

Deutsche Bank (NYSE:DB) and PowerShares have redefined the underlying indexes to help alleviate the problems with two of their funds. A September 30 press release from DB said the number of commodities held by PowerShares DB Agriculture (NYSEARCA:DBA) will go up from four to eleven, while the number for PowerShares DB Commodity (NYSEARCA:DBC) will go from six to fourteen. These changes will take place by October 30.

The current “official” list consists of 77 ETFs and 34 ETNs that are at least six months old and failed to have an Average Daily Value Traded (ADVT) of at least $100,000 during September.

ETF Deathwatch - October 2009

Rank Ticker Name Age (mths) Avg Daily Volume Avg Daily Value Traded
1 PTD E-TRACS CMCI Short Platinum Exc Ret ETN 17 24 $812
2 EEH Elements Spec LgCap US Sector Mo ETN 26 162 $1,190
3 JFT First Trust Enhanced 130/30 Large Cap ETN 17 95 $2,610
4 JEM Barclays GEMS Currency Index ETN 20 67 $2,959
5 MZO Claymore/Mrngstr Services SuperSector 26 219 $3,768
6 PGD Barclays Asian&Gulf Currency Reval. ETN 16 95 $4,733
7 RTW Rydex Inverse 2x S&P Technology 16 276 $6,768
8 BVL Elements Ben Graham Large Cap Value ETN 14 767 $6,883
9 TZO iShares S&P Target Date 2035 Index Fund 11 248 $7,245
10 CZA Claymore/Zacks Mid-Cap Core ETF 30 376 $8,073
11 TGR iShares S&P Target Date Retirement Inc. 11 295 $8,134
12 OTR Claymore/Ocean Tomo Growth 30 386 $8,374
13 INR Market Vectors Indian Rupee/USD ETN 19 233 $8,865
14 GWO Elements CS Global Warming ETN 18 1,243 $9,057
15 FUE Elements MLCX Biofuels ETN 20 1,367 $10,524
16 BVT Elements Ben Graham Total Mkt Value ETN 14 1,129 $10,832
17 IIH HOLDRS Internet Infrastructure 117 5,005 $11,362
18 OTP Claymore/Ocean Tomo Patent 34 543 $11,407
19 MZN Claymore/Mrngstr Inform. SuperSector 26 586 $11,767
20 BHH HOLDRS B2B Internet ETF 117 28,276 $12,150
21 DOD Elements Dogs of the Dow Total Return ETN 23 1,862 $12,187
22 TZG iShares S&P Target Date 2020 Index Fund 11 448 $12,916
23 AGF PowerShares DB Agriculture Long ETN 18 852 $13,576
24 AYT Barclays GEMS Asia 8 ETN 13 300 $13,701
25 UBG E-TRACS CMCI Gold Total Return ETN 18 500 $13,738
26 TZE iShares S&P Target Date 2015 Index Fund 11 481 $13,787
27 MKH HOLDRS Merrill Lynch Market 2000+ 111 295 $13,914
28 TZD iShares S&P Target Date 2010 Index Fund 11 510 $14,433
29 TZI iShares S&P Target Date 2025 Index Fund 11 514 $14,701
30 UBN E-TRACS CMCI Energy Total Return ETN 18 1,086 $15,499
31 JJT iPath DJ-UBS Tin ETN 15 457 $15,825
32 STH Claymore/Sabrient Stealth 37 1,157 $17,179
33 IPS SPDR S&P International Consumer Staples 14 657 $17,207
34 PNXQ PowerShares Nasdaq Next Q 18 810 $17,482
35 TZV iShares S&P Target Date 2040 Index Fund 11 667 $19,289
36 FVI First Trust Value Line Equity Allocation 34 1,286 $20,468
37 CSD Claymore/Beacon Spin-Off ETF 34 1,314 $22,336
38 ERO iPath EUR/USD Exchange Rate ETN 29 410 $23,338
39 RHO Rydex Inverse 2x S&P Health Care 16 590 $23,607
40 BSC Elements Ben Graham Small Cap Value ETN 14 2,395 $24,091
41 CRO Claymore/Zacks Country Rotation 27 1,495 $24,359
42 UCI E-TRACS CMCI Total Return ETN 18 1,400 $24,552
43 ADZ PowerShares DB Agriculture Short ETN 18 714 $24,798
44 UAG E-TRACS CMCI Agriculture TR ETN 18 1,305 $25,715
45 GRN iPath Global Carbon ETN 15 1,000 $26,422
46 DPC WisdomTree Intl Consumer Cyclical 36 1,457 $27,326
47 PQSC PowerShares FTSE Nasdaq Small Cap 18 1,252 $27,338
48 PSTL PowerShares Global Steel Portfolio 12 1,376 $27,494
49 TZL iShares S&P Target Date 2030 Index Fund 11 957 $27,822
50 PQY PowerShares Active AlphaQ 18 1,352 $27,982
51 EXB Claymore/Beacon Gbl Exch, Brkrs, & Asst Mgrs 28 2,124 $29,623
52 IPD SPDR S&P International Consumer Discr 14 1,400 $33,572
53 UBD Claymore U.S. Capital Markets Bond ETF 20 705 $34,109
54 UEM Claymore U.S.-1-The Capital Markets 20 848 $34,903
55 JYF WisdomTree Dreyfus Japan Yen 17 1,243 $35,768
56 WMH HOLDRS Wireless 109 752 $35,871
57 GBB iPath GBP/USD Exchange Rate ETN 29 857 $37,861
58 UBM E-TRACS CMCI Industrial Metals TR ETN 18 2,129 $37,930
59 UBC E-TRACS CMCI Livestock Total Return ETN 18 2,229 $38,005
60 ROB Claymore/Robb Report Global Luxury 26 2,300 $38,182
61 FAD First Trust Multi Cap Growth AlphaDEX 29 1,724 $38,341
62 MZG Claymore/Mrngstr Manufact. SuperSector 26 1,971 $38,670
63 DPU PowerShares DB Commodity Long ETN 17 2,700 $38,919
64 JYN iPath JPY/USD Exchange Rate ETN 29 605 $39,381
65 FUD E-TRACS CMCI Food Total Return ETN 18 2,095 $40,546
66 JJU iPath DJ-UBS Aluminum ETN 15 1,519 $40,660
67 PQZ PowerShares Active Alpha Multi-Cap 18 2,600 $41,612
68 PTO PowerShares Auto Growth NFA 17 4,005 $42,263
69 PMA PowerShares Active Mega-Cap Portfolio 18 2,014 $43,091
70 EKH HOLDRS Europe 2001 106 719 $43,767
71 DEF Claymore/Sabrient Defender 34 2,252 $44,664
72 USV E-TRACS CMCI Silver Total Return ETN 18 1,895 $45,288
73 REC Rydex Inverse 2x S&P Energy 16 7,086 $45,831
74 IRY SPDR S&P International Health Care 14 1,633 $45,884
75 EEN Claymore/BNY Mellon EW Euro-Pacific LDRs 31 2,657 $46,903
76 PJO PowerShares FTSE RAFI Japan 28 1,343 $50,891
77 BDG PowerShares DB Base Metals Lng ETN 16 2,652 $51,819
78 BOS PowerShares DB Base Metals Sht ETN 16 1,914 $51,830
79 RHS Rydex S&P Equal Weight Cons Staples 35 1,114 $52,242
80 PTRP PowerShares Glb Progressive Transport. 13 2,138 $56,057
81 TLL ProShares UltraShort Telecom 18 2,862 $58,649
82 JPP SPDR Russell/Nomura PRIME Japan 35 1,576 $60,514
83 BDH HOLDRS Broadband ETF 115 5,114 $62,222
84 RHM Rydex 2x S&P Health Care 16 1,143 $65,077
85 PAO PowerShares Auto Balanced Growth NFA 17 5,986 $66,009
86 RYU Rydex S&P Equal Weight Utilities 35 1,605 $69,349
87 IRO Claymore/Zacks Dividend Rotation 24 3,943 $69,426
88 ADRU BLDRS Europe 100 ADR 84 3,414 $71,752
89 ICI iPath Optimized Currency Carry ETN 18 1,614 $71,938
90 FPX First Trust US IPO Index Fund 42 3,895 $72,501
91 PIQ PowerShares Dynamic Magniquant 36 3,971 $75,072
92 IPU SPDR S&P International Utilities 14 3,338 $75,497
93 PTE PowerShares Dynamic Telecom & Wireless 46 6,133 $76,421
94 XGC Claymore/BNY Mellon Intl Small Cap LDRs 30 4,443 $77,397
95 URR Market Vectors Double Long Euro ETN 17 2,281 $78,827
96 BOM PowerShares DB Base Metals Dbl Sh ETN 16 3,176 $80,351
97 PZJ PowerShares Zacks Small Cap 44 4,919 $80,818
98 TDV TDX Independence 2040 24 4,500 $81,430
99 TDD TDX Independence 2010 24 3,529 $81,453
100 RGI Rydex S&P Equal Weight Industrials 35 2,143 $88,079
101 NUCL iShares S&P Global Nuclear Energy 15 2,090 $88,601
102 PIC PowerShares Dynamic Insurance 48 6,548 $88,918
103 PEF PowerShares FTSE RAFI Europe 28 2,486 $90,224
104 PEZ PowerShares Dynamic Cons Discretionary 36 4,871 $91,654
105 QQXT First Trust Nasdaq-100 Ex-Technology 32 5,476 $92,109
106 EXT WisdomTree Total Earnings 32 2,519 $93,186
107 PWT PowerShares Dynamic Small Cap Growth 56 7,862 $93,217
108 PBTQ PowerShares Global Biotech Portfolio 13 4,062 $96,693
109 FAB First Trust Multi Cap Value AlphaDEX 29 4,348 $96,751
110 IFNA iShares FTSE NAREIT North America 23 3,267 $99,075
111 SJL ProShares UltraShort Russell Midcap Value 32 2,943 $99,660
Click to enlarge

Disclosure: No positions