The Shakeout in the ETF Industry Is Accelerating

A record 188 exchange-traded products have closed, while launches are at their lowest number since 2013

Asset managers have closed more exchange-traded products than they have launched this year, a sign of how market gyrations have accelerated an industry shakeout.

So far this year, 188 exchange-traded products, including funds and notes, have been shut down, the most on record, according to FactSet. The closures occurred at big and small asset managers alike, including BlackRock Inc., which manages the popular suite of iShares ETFs; JPMorgan Chase & Co.; Invesco Ltd.; ProShares and Direxion.

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