May ETF Roundup: Launches, Filings And Closures
May was yet another strong month in the markets, with few investors selling early this year to avoid a summer slump. However, some investors were spooked early in the month after the FOMC rate decision and press conference. In its statement, the Fed said it would continue its $85 billion a month bond buying program, but indicated that it could either increase or decrease the amount it purchases monthly depending on the economic environment. Only two weeks later, funds took a dip after a report that the Fed may be ready to scale back its massive bond program sooner than any analysts had expected. With the end of May in sight, Treasury yields skyrocketed to levels not seen in over 13 months, leading many high yield corners of the market to suffer [for updates on all new ETFs, sign up for the free ETFdb newsletter ].
May had a number of new funds launch in the beginning and end of the month, with 10 new ETFs entering the ring. With issuers still filling the product pipeline it seems that this summer may be a busy one for ETFs [see Free Member Report: How To Pick The Right ETF Every Time ].
New ETFs
New exchange-traded products that began trading in May include:
Coming Soon
Few ETFs were filed for this month, which could be attributed to the heavy tide of funds that came in January and February:
ETF Closings
There was just a single closing this month, with iShares dropping the Diversified Alternatives Trust (ALT) and breaking its streak of no closures for over a decade.
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Disclosure: No positions at time of writing.
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