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.
A long-shot bid to launch double-leveraged, single-stock exchange-traded funds tracking the notoriously volatile Tesla Inc. has been filed with US regulators after past attempts have failed.
Bill Gross, the former chief investment officer of Pacific Investment Management Co., recommended buying short-term Treasury bills, expecting the debt-ceiling issue eventually gets resolved.