Guggenheim Partners, the money manager behind the $4 billion S&P 500 Equal Weight ETF (NYSEArca: RSP), is shutting down nine ETFs in March, as it looks to consolidate its product lineup by focusing resources on the funds that have gathered traction.

The nine ETFs being liquidated represent, together, roughly 1 percent—or $148 million—of the firm’s total ETF assets of nearly $14 billion spread across more than 65 funds. Indeed, the average size of each closing ETF is only $16 million.

ETF closures are seen as a healthy trait of a maturing market. The U.S. ETF industry, now in its 20^th year, boasts some 1,400 funds for a combined $1.4 trillion in assets, but as new products continue to find their way onto the market, so do liquidations.

In 2012, for instance, just over 100 ETFs were shuttered by various providers due to their inability to attract enough assets. Pruning product offerings can free up resources for fund sponsors to pursue newer, more prospective fund ideas.

“Guggenheim remains committed to the ETF business, and this evolution is a natural and necessary part of the process to ensure we are meeting our clients’ needs,” Bill Belden, Guggenheim’s managing director and head of product development, said in a press release.

The funds being closed, their respective assets as of Feb. 15, and their inception dates, include:

• Guggenheim ABC High Dividend ETF (NYSEArca: ABCS), $9.66 million, launched in June 2011
• Guggenheim MSCI EAFE Equal Weight ETF (NYSEArca: EWEF), $12.03 million, launched in December 2010
• Guggenheim S&P MidCap 400 Equal Weight ETF (NYSEArca: EWMD), $7.14 million, launched in August 2011
• Guggenheim S&P SmallCap 600 Equal Weight ETF (NYSEArca: EWSM), $3.58 million, launched August 2011
• Guggenheim Airline ETF (NYSEArca: FAA), $21.57 million, launched January 2009
• Guggenheim 2x S&P 500 ETF (NYSEArca: RSU), $52.86 million, launched November 2007
• Guggenheim Inverse 2x S&P 500 ETF (NYSEArca: RSW), $30.63 million, launched November 2007
• Wilshire 5000 Total Market ETF (NYSEArca: WFVK), $10.14 million, launched March 2010
• Wilshire 4500 Completion ETF (NYSEArca: WXSP), $7.15 million, launched March 2010

The Closing Details

The ETFs will last trade on Friday, March 15, and will be liquidated by March 22.

Shareholders still remaining in any of the ETFs by the end of the day March 21 will have their shares liquidated as of that day’s closing net asset value, with proceeds—including any accrued capital gains and dividends—being distributed thereafter.

Investors will not be charged any transaction fees by the ETFs for the distribution of the final fund’s proceeds, the company said.