Week of May 8, 2023 KPI Summary
- This week, the industry experienced 11 ETF launches and 0 closures, shifting the 1-year Open-to-Close ratio to 2.12 and total US ETFs to 3,153.
- As we are halfway through the second quarter of 2023, let’s look at some of the KPIs from the past 3 months (data comparing 5/15/2023 to 2/13/2023).
- Total assets had no change ($6.93 Tn), there was an increase of 32 ETFs to total US ETF count (3,153), and +10 additional issuers by brand.
- From our 11 asset class categories, Options increased the most (12.5%) with Commodities Physical in second (10.1%). Currency had the worst performance (-19.9%) with Commodities Derivative close behind (-12.9%). The two largest asset classes of Equity (75.7% of assets) and Fixed Income (19.6%) dropped -1.2% and rose 4.9% respectively.
- The Open-to-close ratio shifted from 2.70 to 2.12 with a large number of closures.
- The ETF Expense ratio 12-month revenue stayed the same and revenue from Active Management rose slightly from 12.3% to 12.7%.
- On the whole, assets have plateaued since mid-February in the ETF industry. Partnered with that, we have seen less ETF launches and more closures in the past few quarters.
- The tracked indexes had similar experiences in the last 3 months.The Toroso ETF Industry Index is down -9.83% while the S&P Financial Select Sector Index trails at -12.18%.
Veridien Climate Action ETF (ticker: CLIA)
IQ CBRE Real Assets ETF (ticker: IQRA)
iShares iBonds Dec 2029 Term Muni Bond ETF (ticker: IBMR)
PIMCO Commodity Strategy Active Exchange-Traded Fund (ticker: CMDT)
Bridges Capital Tactical ETF (ticker: BDGS)
JPMorgan BetaBuilders Emerging Markets Equity ETF (ticker: BBEM)
JPMorgan BetaBuilders U.S. Tips 0-5 Year ETF (ticker: BBIP)
Tema American Reshoring ETF (ticker: RSHO)
Tema Luxury ETF (ticker: LUX)
Tema Monopolies and Oligopolies ETF (ticker: TOLL)
YieldMax NVDA Option Income Strategy ETF (ticker: NVDY)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of May 12, 2023)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through May 12, 2023)
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.