Week of March 11, 2024 KPI Summary
Ryan Fitzgerald- This week, the industry experienced 7 ETF launches and 0 closures, shifting the 1-year Open-to-Close ratio to 2.09 and total US ETFs to 3,445.
- Tomorrow, Tuesday March 19, is the first day of Spring! Let’s see if the ETF industry was hot just like the weather over the last 3-months (data comparing 12/18/23 to 3/17/24).
- 8.0% increase in total assets (~$640 Bn) and a 2.0% increase in total US ETFs (+67).
- For comparison, Winter 2023 had 1.4% asset increase and +33 in ETFs.
- The ETF expense ratio 12-month revenue increased from $12.7 Bn to $13.8 Bn.
- Revenue from Active Management increased from 15.2% to 16.1% during the 3-month span.
- Issuers increased +11 (306 to 315). For comparison, Winter 2022 was +23 and Winter 2023 was +2.
- Lastly, Winter 2023 featured an “ETF Launched Last 12-months” mark of +387 and by end of Winter 2024 was +566. This is a serious uptick for the ETF universe to manage.
- 8.0% increase in total assets (~$640 Bn) and a 2.0% increase in total US ETFs (+67).
- Winter 2024 was “the warmest recorded in the United States in more than a century” according to CPR News. Temperatures were on average 5.4 degrees warmer in the continental US. Similarly, the ETF industry was on a heater in terms of assets and total ETFs. Time will tell if this bull run will continue into the Spring in terms of weather and ETFs.
- The tracked indexes very different experiences over the Winter. Toroso ETF Industry Index was up 9.67% while the S&P Financial Select Sector Index trailed at 5.37%.
ETF Launches
iShares S&P 500 BuyWrite ETF (ticker: IVVW)
iShares Russell 2000 BuyWrite ETF (ticker: IWMW)
Polen Capital China Growth ETF (ticker: PCCE)
Polenn Capital International Growth ETF (ticker: PCIG)
BondBloxx IR+M Tax-Aware Short Duration ETF (ticker: TAXX)
WisdomTree 7-10 Year Laddered Treasury ETF (ticker: USIN)
WisdomTree 1-3 Year Laddered Treasure ETF (ticker: USSH)
ETF Closures
None
Fund/Ticker Changes
None
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of March 15, 2024)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through March 15, 2024)
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.
