FYI: The restaurant exchange-traded fund, like so many ETFs in 2016, has called for the check.
Earlier this week, the ETF Managers Group announced that it would be shutting down the Restaurant ETF BITE, +0.39% the latest in a record-breaking year of ETF closures. While the restaurant fund was for many months the only product to track an industry showing healthy growth—it is up 15.5% year-to-date, outpacing the S&P 500 SPX, -0.18% —it failed to gain traction with investors, amassing a mere $1.4 million in assets.
Similar stories can be told across the ETF industry, as providers hoping to capture a slice of the rapidly growing market fail to make a splash. Thus far this year, there have been 96 fund closures (along with another 26 liquidations in the smaller category of exchange-traded notes), up from 79 in 2015. The number of launches has also slowed, with 214 in 2016, down from 272 last year.
Regards,
Ted
http://www.marketwatch.com/story/heres-why-the-etf-graveyard-is-getting-crowded-2016-12-16/printRon Rowland's ETF Deathwatch For December 2016:
http://investwithanedge.com/etf-deathwatch-for-december-2016-sector-sickness
