ETF Industry KPI – 4/8/2024

Week of April 1, 2024 KPI Summary

Ryan Fitzgerald

• This week, the industry experienced 16 ETF launches and 1 closure, shifting the 1-year Open-to-Close ratio to 2.16 and total US ETFs to 3,467.
• The third and final chapter of our Issuer Madness Bracket has arrived. Two of the powerhouses of Blackrock’s iShares (UConn) and State Street’s SPDR (Purdue) are meeting in the Final game tonight. Let’s explore these Issuers’ latest performances and interesting match-ups to determine who we think will win it all tonight!
  • Match-ups:
    • Purdue is the underdog tonight, but they do have the tallest player in the game and whole tournament, Zach Edey, coming in at 7’4”. Similarly, State Street’s SPY is the largest fund between the two and the whole ETF universe at $528.6 Billion, approximately 6% of total ETF assets.
    • On the other hand, UConn is known for its balanced approach with 5 players averaging 11-15 points on the season. Likewise, iShares top 5 ETFs (IVV, IEFA, AGG, IWF, and IJH) combine to $841.9 Billion, nearly ten percent of the industry. Meanwhile, SPDR top 5 ETFs total $735.9 Billion.
  • Performances:
    • While iShares has increased about $10 Billion in the last two weeks (since 3/25/24), SPDR has actually declined $0.13 Billion over the same time.
    • Conversely, the “starting 5’s” for these issuers have had different stories. Over the past month, iShares’ top 5 ETFs have increased 1.7% while SPDR’s starting 5 have increased 4.8% on average, with XLE being the stand out performer (+13.8%).
• With Match-up and Performance categories having arguments both ways, it is too close to call. We are rooting for a great game and let the best team and Issuer prevail!
• The tracked indexes experienced similar performance last week. The Toroso ETF Industry Index was up 4.22% while the S&P Financial Select Sector Index trailed at 3.21%.

ETF Launches

Alger AI Enablers & Adopters ETF (ticker: ALAI)
Alger Concentrated Equity ETF (ticker: CNEQ)
AllianzIM U.S. Equity Buffer15 Uncapped April ETF (ticker: ARLU)
AllianzIM U.S. Large Cap 6 Month Floor5 April/October ETF (ticker: FLAO)
Even Herd Long Short ETF (ticker: EHLS)
Innovator Equity Defined Protection ETF – 2 Year to April 2026 (ticker: AAPR)
Innovator Premium Income 15 Buffer ETF – April (ticker: LAPR)
Innovator Premium Income 9 Buffer ETF – April (ticker: HAPR)
North Shore Equity Rotation ETF (ticker: KOOL)
PGIM US Large-Cap Buffer 12 ETF – April (ticker: APRP)
PGIM US Large-Cap Buffer 20 ETF – April (ticker: PBAP)
ProShares Ultra Bitcoin ETF (ticker: BITU)
ProShares UltraShort Bitcoin ETF (ticker: SBIT)
Rayliant SMDAM Japan Equity ETF (ticker: RAYJ)
Strategas Macro Momentum ETF (ticker: SAMM)
Trenchless Fund ETF (ticker: RVER)

ETF Closures

VanEck Future of Food ETF (ticker: YUMY)

Fund/Ticker Changes

Invesco Raymond James SB-1 Equity ETF (ticker: RYJ)
became Invesco Bloomberg Analyst Rating Improvers ETF (ticker: UPGD)

Global X Data Center REITs & Digital Infrastructure ETF (ticker: VPN)
became Global X Data Center & Digital Infrastructure ETF (ticker: DTCR)

TETF.Index Performance vs. S&P Financial Select Sector Index
(as of April 5, 2024)

TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through April 5, 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.