ETF closures and launches.

• Barclays’ iPath terminated trading of the iPath Short Enhanced MSCI Emerging Markets Index ETN EMSA last week. The fund was launched in 2010 and did not gather enough assets.

• Exponential ETFs has launched a fund that will target companies based upon their brand value. The Brand Value ETF (BVAL) seeks to track an index created by Brandometry called the BrandTransact 50 Index. This index is driven by a survey of perceptions about various companies’ brands. The fund is listed on the NYSE Arca and comes with an expense ratio of 0.65%.

• This week, Goldman Sachs launched a new ETF that offers a smart-beta twist on the investment-grade corporate bond space. The fund, the Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) seeks to track the Citi US Broad Investment Grade Corporate Index.  The index screens for both liquidity factors and fundamental factors. According to ETF.com, at the end of May, the underlying index included 1,941 components with a weighted average maturity of 10.5 years. GIGB is listed on the NYSE Arca exchange and comes with an expense ratio of 0.14%.