U.S. asset managers are pulling back from leveraged exchange-traded funds (ETFs) tied to Korean companies, liquidating existing products and scrapping planned launches as a local stock market downturn dampens investor appetite, industry officials said Monday. Tradr ETFs, a brand of U.S. asset manager AXS Investments, decided on Oct. 20 to delist two funds offering leveraged long and short exposure to SK hynix's Nasdaq-listed American depositary receipts (ADR), according to a filing with the U.S. Securities and Exchange Commission. The funds, Tradr 2X Long SK hynix and Tradr 2X Short SK hynix, will cease trading on Nov. 5, with liquidation and cash distributions based on their net asset values expected on or around Nov. 12. The closures come just three months after the funds were launched. Industry officials said the move may reflect limited prospects for gaining market share and difficulties attracting anticipated trading volumes and assets under management. The two funds had combined net assets of just over $2 million as of Friday. Competition has also intensified as multiple asset mana