NEW YORK (TheStreet) -- Throughout 2011, investors have watched as the universe of exchange-traded products has continued to expand at a breakneck pace. According to the National Stock Exchange, the combined total number of listed ETFs and ETNs stood at 1376. This marks an increase of 277 products from Dec. 2010.
Now, however, as we approach the end of the year, fund sponsors appear to be in the trimming mood, announcing plans to take the axe to underperforming instruments. At the start of the week, I highlighted IndexIQ's plan to shutter three of its small cap-focused international ETFs.
In the short time since the release of this news, Global X has followed suit, announcing its own plan to close the curtain on eight of its own products.
Although the company remains a relatively young player within the ETF realm, Global X has managed to gain some impressive steam over the past year, securing its place within the cutthroat industry. An ETF pioneer, Global X has become known for its lineup of funds designed for investors looking to target previously unexplored corners of the global marketplace. Some of the company's more impressive success stories include the Global X Silver Miners ETF (SIL)and the Global X FTSE Colombia 20 ETF (GXG).In an attempt to boost its presence in the industry, the company has gone on a fund-launching frenzy over the past year. In 2011 alone, investors were introduced to more than 20 new Global X-branded products. Two of the firm's most recent unveils have been the Global X FTSE Greece 20 ETF (GREK) and the Global X Social Media Index ETF (SOCL). Given their unique investing strategies, it is not surprising that many of these product launches have generated a good deal of coverage from the media. This attention, however, has not necessarily translated into success. In fact, although they are yet to see their first birthday, all eight of the products currently on the chopping block come from the class of 2011. According to a press release issued at the start of the week, the Global X Russell Emerging Markets Growth ETF (EMGX), Global X Russell Emerging Markets Value ETF (EMVX), Global X Mexico Small Cap ETF (MEXS), Global X Oil Equities ETF (XOIL), Global X Farming ETF (BARN), Global X Fishing Industry ETF (FISN), Global X Food ETF (EATX) and Global X Waste Management ETF (WSTE) will be liquidated on Feb. 27. The funds' last day of trading is slated for Feb. 16.
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