Week of July 17, 2023 KPI Summary
Ryan Fitzgerald- This week, the industry experienced 4 ETF launches and 6 closures, shifting the 1-year Open-to-Close ratio to 1.99 and total US ETFs to 3,198.
- With minimal changes, let’s look at some standout KPIs this week.
- Another all-time high for total AUM of $7.52 Trillion with a positive 1-week change.
- Issuer count stays floating around 286, +11 YTD. This is low compared to the 2022 12-month total of +29, but not far off the same pace.
- There have been 124 ETF launches and 75 closures since April 3, 2023, a ratio of 1.65 in that period. The growing rate of closures keeps pulling the Open-to-close ratio further down.
- The average weighted expense ratio of the ETF industry has dropped from 17.0 to 16.5 bps YTD.
- The tracked indexes experienced a similar performance last week. The Toroso ETF Industry Index was up 3.23% while the S&P Financial Select Sector Index trailed at 2.95%.
ETF Launches
Avantis International Small Cap Equity ETF (ticker: AVDS)
Panagram AAA CLO ETF (ticker: CLOX)
Innovator Equity Defined Protection ETF (ticker: TJUL)
Touchstone Securitized Income ETF (ticker: TSEC)
ETF Closures
Emerge EMPWR Sustainable Dividend Equity ETF (ticker: EMCA)
Emerge EMPWR Sustainable Emering Markets Equity ETF (ticker: EMCH)
Emerge EMPWR Sustainable Select Growth Equity ETF (ticker: EMGC)
Emerge EMPWR Unified Sustainable Equity ETF (ticker: EMPW)
Emerge EMPWR Sustainable Global Core Equity ETF (ticker: EMZA)
ETFMG Prime 2x Daily Junior Silver Miners ETF (ticker: SILX)
Fund/Ticker Changes
First Trust US Equity Dividend Select ETF (ticker: RNDV)
became First Trust S&P 500 Diversified Dividend Aristocrats ETF (ticker: KNGZ)
JPMorgan High Yield Municipal Fund (ticker: JTIAX)
became JPMorgan High Yield Municipal ETF (ticker: JMHI)
JPMorgan Sustainable Municipal Income Fund (ticker: OTBAX)
became JPMorgan Sustainable Municipal Income ETF (ticker: JMSI)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of July 21, 2023)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through July 21, 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.
DISCLAIMER
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.
