Week of December 12, 2022 KPI Summary
- This week, the industry experienced 10 ETF launches and 1 closure, shifting the 1-year Open-to-Close ratio to 2.91 and total US ETFs to 3,091.
- During this Holiday season, Americans spend hundreds and thousands of dollars on gifts for friends and family. If there was a time to highlight ETFs that can save an investor money with zero fees, it is certainly the week before Christmas when last-minute gift buying is on our mind.
- The 8 ETFs in our database that have zero net expense ratio combine for $1.35 Billion AUM, with the largest ETF being BKLC, BNY Mellon US Large Cap Core Equity ETF, totaling $432 Million AUM.
- While the average performance over the last 3 months has been 3.4% growth, the top performer pulling that average up is SBUG, iPath Silver ETN, with 20.7% increase. It is also the best performing ETF of the group over a 1-year period with 3.5% growth.
- The issuers behind these 8 ETFs are Sofi (2), Barclays (2), BNY Mellon (2), Goldman Sachs (1), and Gabelli (1).
- The 8 ETFs are spread across 3 different categories: Equity (4), Fixed Income (2), and Commodities Derivative (2).
- This trend of zero-fee ETFs began back in 2019 to help investors improve their returns and promote the ETF itself. Although there are 100+ ETFs that have less than a 10 bp fee, there is nothing quite like “free.” These ETFs and issuers are innovating our industry and capturing the attention of investors, including ours at the ETF Think Tank.
- The tracked indexes had similar experiences in the past week. The Toroso ETF Industry Index was down -2.19% while the S&P Financial Select Sector Index trailed at -2.46%.
BTD Capital Fund (ticker: DIP)
GraniteShares 1.5x Long META Daily ETF (ticker: FBL)
GraniteShares 1.5x Long NVDA Daily ETF (ticker: NVDL)
GraniteShares 1.75x Long BABA Daily ETF (ticker: BABX)
PGIM Jennison Focused Growth ETF (ticker: PJFG)
PGIM Jennison Focused Value ETF (ticker: PJFV)
PGIM Portfolio Ballast ETF (ticker: PBL)
Virtus Stone Harbor Emerging Markets High Yield Bond ETF (ticker: VEMY)
WisdomTree U.S. Quality Growth ETF (ticker: QGRW)
ClearBridge Sustainable Infrastructure ETF (ticker: INFR)
iShares iBonds December 2022 Term Muni Bond ETF (ticker: IBMK)
Green Owl Intrinsic Value Fund (ticker: GOWLX)
became Kovitz Core Equity ETF (ticker: EQTY)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of December 16, 2022)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through December 16, 2022)
Source: Morningstar Direct
Why Follow the ETF Industry KPIs
The team at Toroso Investments began tracking the ETF Industry Key Performance Indicators (KPI’s) in the early 2000’s and have been consistently reporting on, and analyzing these metrics ever since. The table above was the impetus for the creation of the TETF.Index, the index that tracks the ETF industry. Each week, we will share the statistics we believe to be the most useful for identifying industry trends, in addition to the performance of the TEFT.Index.
Past performance is no guarantee of future returns. This article is for informational and educational purposes only; is not intended to constitute legal, tax, accounting or investment advice; and does not constitute an offer to sell or a solicitation of an offer to buy any security or service. Furthermore, the Indexes shown above are not investable. While Toroso has gathered the information presented from sources that it believes to be reliable, Toroso cannot guarantee the accuracy or completeness of the information presented and the information presented should not be relied upon as such. Any opinions expressed are Toroso’s opinions and do not reflect the opinions of any affiliates or related persons. All opinions are current only as of the date of initial publication and are subject to change without notice. All investment strategies and investments involve risk of loss, including the possible loss of all amounts invested.