Van Eck Global, the asset management firm behind the Market Vectors range of exchange-traded funds, has announced plans to close and liquidate four ETFs.

Van Eck has announced the closure of four smart beta ETFs.

Shares in the following ETFs will cease trading on NYSE Arca after market close on 18 September 2015 and will subsequently be de-listed:

Market Vectors MSCI Emerging Markets Quality ETF (QEM)

Market Vectors MSCI Emerging Markets Quality Dividend ETF (QDEM)

Market Vectors MSCI International Quality ETF (QXUS)

Market Vectors MSCI International Quality Dividend ETF (QDXU)

The ETFs track indices provided by MSCI and utilise a quality screen to select constituents which should exhibit sustainable earnings growth. The dividend-based funds also screen for holdings whose yield is above the parent index’s average; this is complemented by a quality screen which aims to ensure that dividends will be upheld.

As part of Van Eck’s strategic equity range, the ETFs have failed to attract significant asset flow since their launch in January 2014, with none of the funds managing to sustain more than $5m or so in assets under management.

The closures are at odds with both the industry-wide demand for smart beta products and the search for income, particularly so-called “quality” income, and come at a time when rival issuers are launching similarly focused ETFs.

Most recently, Boston-based O’Shares Investments listed a range of quality dividend ETFs offering a multi-factor approach which utilises screens for quality, volatility and dividends. London-based Source also recently announced that they will be the first European ETF issuer to license the FTSE RAFI Equity Income Index Series which targets high dividend-paying, high-quality stocks with sustainable income streams.