The pace of failures has more than doubled in the $7 trillion exchange-traded fund industry so far this year, as volatile markets and fierce competition put pressure on issuers.
Year to date, 62 exchange-traded funds have been liquidated or delisted, according to data compiled by Bloomberg. That’s more than double the number seen in that same span last year, when just 26 had closed by mid-April. And even more funds are on the chopping block. Last year’s blistering number of fund launches, made the industry ripe for consolidation.