Russell Folds 25 ETFs

ETFguide

Russell Investments is liquidating 25 equity index ETFs with around $310 assets.

The Russell ETFs slated for closure are linked to Russell benchmarks with specialized strategies like lower volatility (LVOL - News), high momentum (SHMO - News), and aggressive growth (AGRG - News). Having traded on the open market for less than two years, the funds had a short lifespan. 

Russell cited the "challenging equity market conditions since the launch of these products," as the reason for planned liquidations.

The closures do not impact the Russell Equity ETF (ONEF - News), which is benchmarked to the Russell Developed Large Cap Index. ONEF is an actively managed, asset allocated portfolio that Russell is keeping to focus on its multi-asset solutions.

The 25 funds will be closed to new investment on October 9, 2012 and will be delisted from NYSE Arca or the NASDAQ Stock Market effective at the close of trading on October 16, 2012. Full liquidation of the funds is intended to be completed by October 24, 2012.

Shareholders may sell their holdings on the NYSE Arca or NASDAQ through October 16, 2012, incurring any applicable transaction fees from their broker-dealer. All shareholders remaining on October 16, 2012 will receive cash equal to the amount of the net asset value of their Fund shares as of October 16, 2012, which will include any capital gains and dividends, into the cash portion of their brokerage accounts.

Shareholders receiving the final liquidation cash distribution will not incur transaction fees from their broker-dealer in connection with this distribution or the cancellation of their Fund shares. Moreover, shareholders will not bear any expenses associated with the liquidation of the Funds other than bearing indirectly the portfolio transaction costs incurred in liquidating the Funds' assets in advance of the Funds' closure.

ETFs to be discontinued

Ticker

Exchange

Russell 1000 High Beta ETF

HBTA

NYSE Arca

Russell 1000 Low Beta ETF

LBTA

NYSE Arca

Russell 1000 High Volatility ETF

HVOL

NYSE Arca

Russell 1000 Low Volatility ETF

LVOL

NYSE Arca

Russell 1000 High Momentum ETF

HMTM

NYSE Arca

Russell 2000 High Beta ETF

SHBT

NYSE Arca

Russell 2000 Low Beta ETF

SLBT

NYSE Arca

Russell 2000 High Volatility ETF

SHVY

NYSE Arca

Russell 2000 Low Volatility ETF

SLVY

NYSE Arca

Russell 2000 High Momentum ETF

SHMO

NYSE Arca

Russell Developed ex-U.S. Low Beta ETF

XLBT

NYSE Arca

Russell Developed ex-U.S. Low Volatility ETF

XLVO

NYSE Arca

Russell Developed ex-U.S. High Momentum ETF

XHMO

NYSE Arca

Russell Aggressive Growth ETF

AGRG

NYSE Arca

Russell Consistent Growth ETF

CONG

NYSE Arca

Russell Contrarian ETF

CNTR

NYSE Arca

Russell Equity Income ETF

EQIN

NYSE Arca

Russell Growth at a Reas Price ETF

GRPC

NYSE Arca

Russell Low P/E ETF

LWPE

NYSE Arca

Russell Small Cap Aggressive Growth ETF

SGGG

NASDAQ

Russell Small Cap Consistent Growth ETF

SCOG

NASDAQ

Russell Small Cap Contrarian ETF

SCTR

NASDAQ

Russell Small Cap Low P/E ETF

SCLP

NASDAQ

Russell High Dividend Yield ETF

HDIV

NYSE Arca

Russell Small Cap High Dividend Yld

DIVS

NYSE Arca

Follow us on Twitter @ ETFguide

More From ETFguide.com

View Comments (0)

Recommended for You