NEW YORK (TheStreet) -- Eight new names are joining ETF Deathwatch for December, and nine products are coming off the list.

Six are leaving due to increased investor interest, and three ETFs are exiting because they are now dead, delisted, and liquidated. ETF Deathwatch now consists of 374 (274 ETFs and 100 ETNs) names from the 1,445 listed for trading.

Even though there is a risk these exchange-traded products (ETPs) could eventually close, liquidity risk is present today. For example, the iPath US Treasury 5-Year Yield Bull ( DFVL) hasn't traded since Sept. 13. It is just one of eight Zombie products going the entire month of November with zero volume.

iPath Short Enhanced MSCI EAFE ( MFSA) is quoted Friday with a bid price of $37.14 and an ask of $112.10 (a spread of $74.96). Even more troubling is the fact that there are only 100 shares available at each end of those extremes.

The average product on ETF Deathwatch is more than 31 months old and has $6.3 million in assets. Sponsor patience varies widely, with some closing non-profitable products within their first year while others seem willing to subsidize products forever.

There are currently 44 exchange-traded funds and exchanged-traded notes on the list that have been on the market for more than five years. The quantity of funds with less than $2 million in assets stands at 60.

The complete list of 374 products on ETF Deathwatch for December 2012 can be found here.

The ETPs added to ETF Deathwatch for December:

    1. AdvisorShares Global Echo ETF ( GIVE)

    2. AlphaClone Alternative Alpha ETF ( ALFA - Get Report)

    3. Credit Suisse Merger Arbitrage Liquid 2x Monthly ETN ( CSMB)

    4. C-Tracks Citi Volatility Index Total Return ETN ( CVOL)

    5. Guggenheim S&P Equal Weight Financials ( RYF - Get Report)

    6. iShares MSCI Denmark Capped Investable Market ( EDEN - Get Report)

    7. QuantShares U.S. Market Neutral Value ( CHEP - Get Report)

    8. SPDR S&P 400 Mid Cap Value ETF ( MDYV - Get Report)

The ETPs removed from ETF Deathwatch due to improved health:

    1. Direxion Daily Healthcare Bull 3x ( CURE - Get Report)

    2. ETRACS DJ-UBS Commodity 2-4-6 Blended Futures ETN ( BLND)

    3. iPath Seasonal Natural Gas ETN ( DCNG)

    4. iShares Asia/Pacific Dividend 30 ( DVYA - Get Report)

    5. iShares MSCI China Small Cap Index Fund ( ECNS - Get Report)

    6. ProShares Ultra MSCI Europe ( UPV - Get Report)

The ETPs removed from ETF Deathwatch due to death and delisting:

    1. QuantShares U.S. Market Neutral Anti-Momentum ( NOMO)

    2. QuantShares U.S. Market Neutral High Beta ( BTAH)

    3. QuantShares U.S. Market Neutral Quality ( QLT)

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Ron Rowland is the founder and president of Capital Cities Asset Management, a fee-based registered investment adviser in Austin, Texas. He is also the founder and publisher of Invest With An Edge and All Star Investor, where he has been providing market commentary and active investment advice since 1991. Opinions expressed in this article should not be considered personal recommendations to buy or sell any security.