Texas, Oklahoma ETFs to Close

Two state-focused ETFs that launched less than a year ago will close at the end of this month.

Two state-focused ETFs – a first of their kind – announced that they’re closing at the end of this month.

Less than a year after the Spade Oklahoma Index (NYSEArca: OOK) launched, a lack of market interest has caused Geary Advisors to shutter the ETF. The fund launched last October.

Also going the way of the dinosaurs is the Texas Large Companies ETF (NYSEArca: TXF) which gave investors access to large-cap Texas-based publicly traded companies.

The last day of trading for both funds will be Sept. 24. On Sept. 30, all assets in the funds will be sold and distributed to shareholders remaining.

Texas State ETF

Geary Advisors started trading TXF Large Companies (TXF), which tracks 87 companies headquartered in the Lone Star state.

Based on the SPADE Texas Index, the ETF weights energy at 63%, followed by technology 9%, telecom 6% and consumer 4%.

TXF charges 0.2% in expense ratios. It's the second state-specific ETF, following Oklahoma ETF (OOK), which started trading in October.