Week of December 19, 2022 KPI Summary
- This week, the industry experienced 7 ETF launches and 7 closures, shifting the 1-year Open-to-Close ratio to 3.01 and total US ETFs to 3,091.
- We are in the final week of 2022, the purgatory time between Christmas and New Year’s Eve. With the next few KPI articles focusing on the 4th quarter and 2022 full-year data, let’s take a look at December’s standout KPI figures in the ETF landscape (comparing 11/27/22 to 12/26/22).
- Total assets decreased -2.86%, there was an increase of 19 ETFs to total US ETF count (3,091), and +5 additional issuers by brand.
- From our 11 asset class categories, Commodities Physical increased the most (3.49%) with Allocation next (1.28%). Currency had the worst performance again (-12.02%) with Commodities Derivative as second worst (-11.74%). The two largest asset classes of Equity (76.02% of assets) and Fixed Income (19.36%) performed -3.77% and 0.57% respectively.
- Currency and Commodities Derivatives were the two worst performing categories in November as well.
- ETF expense ratio 12-month revenue decreased from $11.34 Billion to $11.01 Billion.
- Revenue from Active ETFs dropped from 11.99% to 12.17% of total revenue.
- The top performing ETF by far over the last month was KOLD (ProShares UltraShort Bloomberg Natural Gas) surging 103.3%. The top performing ETF that is over one billion dollars in assets over the previous month has been SOXS (Direxion Daily Semiconductor Bear 3X ETF) rising 22.7%.
- December was a mediocre month for the ETF industry. It ranks 7th best in asset performance, T-4th in issuer increase, and 8th in total number of ETFs added. In the November wrap-up, we were speculative of three great months in a row. December didn’t impress, but it will still leave the 4th quarter as the best of 2022 in several categories. As a reminder, these figures do not take into account the full week left of December, which would alter the full month’s outlook.
- The tracked indexes had similar experiences in December. The Toroso ETF Industry Index was down -3.43% while the S&P Financial Select Sector Index trailed at -5.03%.
Teucrium AiLA Long-Short Agriculture Strategy ETF (ticker: OAIA)
John Hancock International High Dividend ETF (ticker: JHID)
VanEck Commodity Strategy ETF (ticker: PIT)
PMV Adaptive Risk Parity ETF (ticker: ARP)
Subversive Decarbonization ETF (ticker: DKRB)
Subversive Food Security ETF (ticker: KCAL)
Subversive Mental Health ETF (ticker: SANE)
Invesco BulletShares 2022 Corporate Bond ETF (ticker: BSCM)
Invesco BulletShares 2022 High Yield Corporate Bond ETF (ticker: BSJM)
iShares iBonds December 2022 Term Corporate ETF (ticker: IBDN)
Invesco BulletShares (R) 2022 USD Emerging Markets Debt ETF (ticker: BSBE)
iShares iBonds 2022 Term High Yield and Income ETF (ticker: IBHB)
Invesco BulletShares (R) 2022 Municipal Bond ETF (ticker: BSMM)
iShares iBonds December 2022 Term Treasury ETF (ticker: IBTB)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of December 23, 2022)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through December 23, 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.