Global X Fund, the New York-based fund provider known for its niche ETFs, on Feb. 16 will shutter eight funds that have failed to attract assets, including both of its emerging market ETFs linked to Russell indexes and some of its niche funds.

The mega-cap-focused Global X Russell Emerging Markets Growth ETF (NYSEArca: EMGX) and the Global X Russell Emerging Markets Value ETF (NYSEArca: EMVX) are two of the funds being liquidated. Each has gathered about $2 million since they came to market in January.

Global X will also liquidate a roster of narrowly focused funds that include almost all of its “special opportunities” ETFs—with the exception of its auto industry fund and its social media fund. All of the funds the company is closing are less than a year old. The ETFs and their respective assets are:

• Global X Mexico Small-Cap ETF (NYSEArca: MEXS), $539,000 gathered in nearly eight months
• Global X Oil Equities ETF (NYSEArca: XOIL), $2.5 million in assets gathered since its March inception
• Global X Farming ETF (NYSEArca: BARN), $2.5 million since June
• Global X Fishing Industry ETF (NYSEArca: FISN), $1.5 million since May
• Global X Food ETF (NYSEArca: EATX), $2.9 million since May
• Global X Waste Management ETF (NYSEArca: WSTE), $1.1 million since April

Global X is the latest ETF provider to announce fund closings due to lack of assets. In the past week alone, Index IQ and Jefferies made similar announcements, following other closings by Direxion, Javelin Funds and FaithShares.

According to a study by McKinsey, the rate of ETF shutterings is likely to accelerate as the industry matures. Also, Ron Rowland, a blogger who keeps track of funds that are vulnerable to closing, said recently that the number of funds risking shutdown has grown to a record, in part because so many new funds are coming to market.

The funds, which represent less than 2 percent of the company’s total ETF assets, will cease trading at the market close of Feb. 16 and will be completely liquidated on Feb. 27. As of Feb. 27, any investors still holding shares of the funds will receive cash distributions equal to the net asset value of their shares as of that date.

No transaction fees in connection with the distributions or the liquidation process will be incurred by investors, but some of the distributions may represent an ordinary income dividend or capital gain, the company said in a press release.