ETF Industry KPI – 6/3/2024

Week of May 27, 2024 KPI Summary

Ryan Fitzgerald

  • This week, the industry experienced 9 ETF launches and 4 closures, shifting the 1-year Open-to-Close ratio to 2.32 and total US ETFs to 3,529.
  • A couple of All-Time Highs to note:
    • This week, the number of ETFs Launched in the last 12 months is at an all-time high of +595.
    • Additionally, the share of ETF revenue from Active ETFs is at an all-time high of 16.5%. Meanwhile, Active ETFs only make up 7.2% of total ETF AUM (~$651 Billion).
      • Last year at this time, it was 13.1% of revenue.
  • May was a bounce back month for the ETF Industry as the best performing month of 2024. This is 4 consecutive Mays (2021 – 2024) of positive asset performance.
    • Total assets increased 3.9%, there was an increase of 52 ETFs to total US ETF count (3,529), and +6 issuers by brand.
    • From our 11 asset class categories, Volatility increased the most (7.0%) with Geared/Swaps next (6.0%).  Managed Futures had the worst performance (-0.9%) with Commodities Derivative at second worst (-0.6%).  The two largest asset classes of Equity (77.1% of assets) and Fixed Income (17.1%) jumped 4.1% and 2.6% respectively.
      • While Volatility and Geared/Swaps were the bottom two in April, they are the top 2 performing categories in May.  
      • Similarly, Managed Futures went from top 2 in April to worst performer in May.
    • The ETF expense ratio annual revenue increased from $14.3 Bn to $14.8 Bn.
  • The tracked indexes had similar experiences in May. The Toroso ETF Industry Index was down -0.86% while the S&P Financial Select Sector Index led at 0.08%.

ETF Launches

FT Vest Laddered Small Cap Moderate Buffer ETF (ticker: BUFS)
PGIM US Large-Cap Buffer 12 ETF – December (ticker: DECP)
ERShares Entrepreneur ETF (ticker: ENTR)
Janus Henderson Corporate Bond ETF (ticker: JLQD)
Cambria Chesapeake Pure Trend ETF (ticker: MFUT)
PGIM US Large-Cap Buffer 20 ETF – December (ticker: PBDE)
Return Stacked® US Stocks & Futures Yield ETF (ticker: RSSY)
IQ MacKay Securitized Income ETF (ticker: SECR)
Defiance Daily Target 2X Long Uranium ETF (ticker: URAX)

ETF Closures

Defiance Israel Bond ETF (ticker: CHAI)
Global X Next Emerging & Frontier ETF (ticker: EMFM)
Capital Link Global Fintech Leaders ETF (ticker: KOIN)
Lyrical US VALUE ETF (ticker: USVT)

Fund/Ticker Changes

Franklin U.S. Low Volatility ETF (ticker: FLLV)
became Franklin Income Equity Focus ETF (ticker: INCE)

Janus Henderson Sustainability Corporate Bond ETF (ticker: SCRD)
became Janus Henderson Corporate Bond ETF (ticker: JLQD)

MAX S&P 500 4X Leveraged ETN (ticker: XXXX)
became MAX S&P 500 4X Leveraged ETN (ticker: SPYU)


TETF.Index Performance vs. S&P Financial Select Sector Index

(as of May 31, 2024)

TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through May 31, 2024)

Source: Morningstar Direct


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.

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