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Build America Bond ETFs have been as well-received as the program itself, but the program’s future is now in question.

The BABs program was launched in 2009 as a part of the economic stimulus package. The bonds were a way to fund various infrastructure projects and lead to an improvement in hiring. Less than two years later, the program is looking at a possible end on Dec. 31, according to The San Francisco Chronicle. An extension for the program wasn’t included in the tax bill passed last week.

ETF providers may have to change their funds as a result. Some may convert them to closed-end funds or make them hybrid funds so other securities can be included. If BABs ETFs aren’t changed, the result is that they could trade at discounts to the value of the bonds held, Lisa Lambert for Reuters reports.

The three BABs ETFs that could be affected by the program’s expiration are:

  • PowerShares Build America Bond Portfolio (NYSEArca: BAB)
  • SPDR Nuveen Barclays Capital Build America Bond (NYSEArca: BABS)
  • PIMCO Build America Bond Strategy (NYSEArca: BABZ)

Tisha Guerrero contributed to this article.

Disclosure: None

Source: Changes May Be in Store for Build America Bond ETFs