Week of November 27, 2023 KPI Summary
Ryan Fitzgerald- This week, the industry experienced 12 ETF launches and 3 closures, shifting the 1-year Open-to-Close ratio to 2.06 and total US ETFs to 3,353.
- After coming off 3 months of decreasing assets, November ended that trend abruptly with Equity ETFs having a historic monthly performance (data comparing 10/29/23-12/3/23).
- Total assets increased 11.4%, there was an increase of 31 ETFs to total US ETF count (3,353), and 4 additional issuers by brand.
- This is the largest monthly increase in total assets by far in over 2 years.
- From our 11 asset class categories, Geared/Swaps increased the most (17.8%) with Equity next (12.8%). Volatility had the worst performance (-13.8%) with Managed Futures at second worst (-11.7%). The two largest asset classes of Equity (76.2% of assets) and Fixed Income (18.6%) soared 12.8%, as mentioned above, and 5.7% respectively.
- After 3 consecutive months with Geared/Swaps in the bottom two performing categories, it moves to #1. On the other hand, Volatility is dead last after coming off consecutive months in the top 2.
- The ETF expense ratio annual revenue increased from $11.1 Bn to $12.3 Bn.
- The $1.6 Billion decrease we experienced from August through October was nearly made up in November.
- Total assets increased 11.4%, there was an increase of 31 ETFs to total US ETF count (3,353), and 4 additional issuers by brand.
- January 2023 set the bar high with 7.8% total asset growth, but November just set a historic mark of 11.4%, a gain of $790 Billion over the 5-week period. Total ETF count increased 31 funds and issuers +4 are slightly above average as well.
- Lastly, last week’s KPI article mentioned that “+482 ETFs launched in the last twelve months as of today is ranked 5th all-time since we started keeping track in February 2018.” Well, this week’s +489 is tied for 1st all-time with 12/19/2021.
- The tracked indexes had similar experiences in November. The Toroso ETF Industry Index was up 12.19% while the S&P Financial Select Sector Index trailed at 11.03%.
ETF Launches
YieldMax AI Option Income Strategy ETF (ticker: AIYY)
Macquarie Global Listed Infrastructure ETF (ticker: BILD)
Macquarie Energy Transition ETF (ticker: PWER)
Macquarie Tax-Free USA Short Term ETF (ticker: STAX)
Counterpoint Quantitative Equity ETF (ticker: CPAI)
Goldman Sachs MarketBeta Russell 1000 Growth Equity ETF (ticker: GGUS)
Goldman Sachs MarketBeta Russell 1000 Value Equity ETF (ticker: GVUS)
Innovator International Developed Power Buffer ETF – December (ticker: IDEC)
Hilton Small-MidCap Opportunity ETF (ticker: SMCO)
WHITEWOLF Publicly Listed Private Equity ETF (ticker: LBO)
Aztlan North America Nearshoring Stock Selection ETF (ticker: NRSH)
SP Funds S&P Global Technology ETF (ticker: SPTE)
ETF Closures
ConvexityShares 1x SPIKES Futures ETF (ticker: SPKX)
ConvexityShares Daily 1.5x SPIKES Futures ETF (ticker: SPKY)
B.A.D. ETF (ticker: BAD)
Fund/Ticker Changes
Virtus Newfleet High Yield Bond ETF (ticker: BLHY)
became Virtus Newfleet Short Duration High Yield Bond ETF (ticker: VSHY)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of December 1, 2023)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through December 1, 2023)
Why Follow the ETF Industry KPIs
The team at Tidal Investments, originally operating as Toroso Investments, began tracking the ETF Industry Key Performance Indicators (KPIs) in the early 2000s and have been consistently reporting on, and analyzing these metrics ever since. This diligent tracking was the catalyst for the creation of the TETF.Index, an index that tracks the ETF industry. Now, as part of the Tidal Financial Group, which is affiliated with Tidal Investments, LLC, we are positioned to provide even more in-depth analysis and insights. 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 TETF.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 Tidal Investments, LLC (formerly known as Toroso Investments, LLC) has gathered the information presented from sources that it believes to be reliable, Tidal Investments, LLC 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 Tidal Investments, LLC’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.
