Week of March 6, 2023 KPI Summary
- This week, the industry experienced 6 ETF launches and no closures, shifting the 1-year Open-to-Close ratio to 2.39 and total US ETFs to 3,123.
- On March 11, 2020, the WHO declared COVID-19 a global pandemic. As we cross the 3-year mark, let’s take a quick look at the ETF industry since then (data comparing 3/16/2020 to 3/13/2023).
- Total Assets are up 74.0% over the past 3 years, an increase of 807 ETFs to total US ETF count (3,123), and 132 additional issuers by brand (a 91.0% increase).
- Assets are actually down $20 Billion (-0.3%) since 3/13/22.
- The two largest asset classes of Equity (75.7% of assets) and Fixed Income (19.6%) rose 79.6% and 55.3% respectively.
- ETF expense ratio 12-month revenue rose from $6.8 Billion to $11.1 Billion.
- Secondly, today is National Napping Day since it is the day after the return of Daylight-Saving Time. All of these 3-year stats stated above, except for total ETF and issuer counts, are very similar to the 2-year data points we gave last year during this time. It looks like the ETF Industry has been caught napping as well. Let’s hope it wakes up and it ‘Springs Forward’ rather than ‘Falls Back’.
Goldman Sachs Community Municipal Bond ETF (ticker: GMUN)
Alpha Architect Tail Risk ETF (ticker: CAOS)
US Treasury 6 Month Bill ETF (ticker: XBIL)
Alger Weatherbie Enduring Growth ETF (ticker: AWEG)
JPMorgan Active Small Cap Value ETF (ticker: JPSV)
Vanguard Short-Term Tax-Exempt Bond ETF (ticker: VTES)
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.