While 2014 was a big year for ETPs, some of the year's launches savored breakout success while others were shuttered even before December.
Four ETP launches in 2014 -- two ETFs and two ETNs -- crossed the $250 million asset milestone before the end of the year, says Aniket Ullal, founder of First Bridge Data, a Fremont, Calif.,-based provider of independent ETF data and analytics.
On the other end of the spectrum, there were five ETPs launched in 2014 that were closed before the end of the year, he says.
For ETFs specifically, there were a total of 204 launches in the U.S. alone--and 77 that were closed, according to First Bridge Data. Overall, 22 of the ETFs that launched in 2014 -- just over 10% -- had assets above $100 million by the end of the year.
This shows the long odds that any new ETF faces in a crowded and competitive marketplace, Ullal says. "However, in general these closures represent a healthy pruning of product portfolios. In 2015 we can expect to see a similar pace of activity."
Note: As of 12/31/14. Sources: First Bridge Data, Morningstar, ETF Database
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