Things aren't what they seem to be in the world of exchange-traded funds.
The Wall Street Journal reports
that while ETFs seem to be showing solid growth, some companies, particularly smaller players and newcomers, haven't been able to break even on their funds and are dissolving them as a result.
So far this year, 129 new ETFs have hit the market, and sponsors have liquidated or announced the closing of 37 portfolios, wrote Ari Weinberg, citing data from Ron Rowland of the newsletter Invest With an Edge
, director of institutional sales and trading for ETF sponsor WisdomTree Investments
]; State Street Global Advisors
]; Charles Schwab
]; Paul Hrabal
, president of U.S. One
]; and Rick Genoni
, head of ETF products at Vanguard
], were all mentioned in the article.
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