ETF Industry KPI – 8/14/2023

Week of August 7, 2023 KPI Summary

Ryan Fitzgerald

• This week, the industry experienced 7 ETF launches and 0 closures, shifting the 1-year Open-to-Close ratio to 1.77 and total US ETFs to 3,191.
• With minimal changes this week, let’s take a look at how Issuers have fared thus far in 2023.
  • There were 63 Issuers with AUM over one billion dollars at the start of 2023, which is now 70 funds above that threshold (with 25 funds between $1-2 Billion).
  • Of the 70 funds: 57 have increased their AUM YTD, 12 have decreased, and 1 firm is new to the industry (North Slope).
    • The top 10 have remained the same YTD with only WisdomTree surpassing ProShares from 9th to 10th.
      • Here is the top 10 list in order of AUM: iShares, Vanguard, State Street, Invesco, Charles Schwab, First Trust, JPMorgan, Dimensional, WisdomTree, and ProShares.
      • The top 10 issuers make up about 93% of the industry’s total AUM and 44% of the total funds.
      • Of the top 10, Dimensional has increased the most in AUM YTD change with 36.8% ($26.5 Billion). On the other hand, Vanguard amassed the most AUM total with about $299 Billion (+15.8% change).
      • The Top 10 Issuers averaged 19.3% change in AUM YTD.
    • The 3 Issuers with the largest YTD change in AUM of the 70 ETFs above $1 Billion are:
      • Putnam Investments (762.1% YTD), BondBloxx Investment Management LLC (279.8% YTD), and BNY Mellon (169.9% YTD).
    • The 3 Issuers with the biggest drop-off YTD of the 70 ETFs:
      • Barclays (-30.7%), Horizon Kinetics (-20.7%), and AdvisorShares (-19.3%).  All three of these Issuers are between $1-2 Billion.
    • In comparison, all the top 25 Issuers in AUM have had positive AUM performance. In 26th is Kraneshares with -6.4% change YTD.
  • iShares has launched the most funds YTD with 25 additional ETFs under management (406 total). Meanwhile, Invesco has decreased their total by 25 ETFs (217 total).
• The tracked indexes have similar experiences YTD. The Toroso ETF Industry Index is up 7.2% while the S&P Financial Select Sector Index trails at 3.1%.

ETF Launches

Strive Enhanced Income Short Maturity ETF (ticker: BUXX)
YieldMax NFLX Option Income Strategy ETF (ticker: NFLY)
Cboe(R) Validus S&P 500(R) Dynamic Putwrite Index ETF (ticker: PUTD)
FT Cboe Vest SMID Rising Dividend Achievers Target Income ETF (ticker: SDVD)
FT Cboe Vest Technology Dividend Target Income ETF (ticker: TDVI)
LAFFER|TENGLER Equity Income ETF (ticker: TGLR)
USCF Sustainable Commodity Strategy ETF (ticker: ZSC)

ETF Closures

None

Fund/Ticker Changes

None

TETF.Index Performance vs. S&P Financial Select Sector Index
(as of August 11, 2023)

TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through August 11, 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.