UBS Asset Management has liquidated a smart beta ETF and a US corporate bond ETF after they failed to attract significant assets under management (AUM), ETF Stream can reveal.

The UBS ETF - Factor MSCI EMU Total Shareholder Yield UCITS ETF (UD05) gathered $6.9m assets since launch in September 2015.

Tracking the MSCI EMU Total Shareholder Yield index, UD05 offered investors exposure to European equities that have a dividend yield or buyback yield greater than zero.

The UBS ETF - Bloomberg Barclays US Liquid Corporates Interest Rate hedged UCITS ETF (CUIH) saw its assets reach $8.7m since coming to market in July 2017.

CUIH tracked the Bloomberg Barclays US Liquid Corporates Duration hedged Index (Total Return) combines the Bloomberg Barclays US Liquid Corporates index with the short Mirrored Future Index (MFI) position in order to reduce the US Treasury duration exposure of the ETF.

The Mirrored Future index is a basket of US Treasury futures contracts designed to match the duration exposure of the Bloomberg Barclays US Liquid Corporates index.

UBS AM declined to comment.

Closures have become a staple of the ETF industry with products failing to capture significant flows often being closed by issuers.

According to data from ETFGI cited by the Financial Times, there were 231 ETP closures globally during H1 this year. The previous record for the first six months of a year was 189 in 2018.