Scottrade spent the past few weeks dismantling its Focus Morningstar exchange-traded funds — only about a year after their debut.
The online discount brokerage won’t say whether FocusShares’ exit from ETFs, its first effort to sponsor proprietary funds, is permanent.
“Scottrade will be evaluating what it will be doing in the ETF space,” said Jack Naudi, a company spokesman. “It was a tough market. We just didn’t get enough attention.”
Lackluster interest from investors for the funds prompted FocusShares Trust’s board of trustees to pull the plug on the ETFs in early August. Read more on St. Louis Post-Dispatch.