Week of June 17, 2024 KPI Summary
Ryan Fitzgerald- This week, the industry experienced 5 ETF launches and 0 closures, shifting the 1-year Open-to-Close ratio to 2.79 and total US ETFs to 3,560.
- It’s the last week of June, schools are out, and Summer has begun! Many Americans will take a vacation during the summer months, so let’s take a look at the 5 non-leverage Travel and Leisure ETFs.
- The category has $385 Million across the 5 funds, with a large majority ($260 Million) in Invesco’s PEJ which was launched in 2005. The remaining 4 funds (AWAY, BEDZ, CRUZ, JRNY) are all from different Issuers and have been launched in the last 5 years.
- Last year at this time, the category constituted $571 Billion with PEJ managing $400 Million. In June 2022, the category totaled $1.39 Billion.
- Although the category is down 33%, the average revenue is up 1.6% YTD. PEJ leads the pack at 6.7% total revenue YTD.
- The average expense ratio of the category shifted from 67.8 bps to 68.6 bps in one year.
- All 5 of these ETFs are traded on the NYSE.
- The category has $385 Million across the 5 funds, with a large majority ($260 Million) in Invesco’s PEJ which was launched in 2005. The remaining 4 funds (AWAY, BEDZ, CRUZ, JRNY) are all from different Issuers and have been launched in the last 5 years.
- As COVID restrictions and fear have all but disappeared in the last two years, the Travel and Leisure ETF category has plummeted 72% in revenues, a surprising dichotomy. Let us know what other sectors have seen this kind of drawback post-COVID.
- The tracked indexes had very similar experiences over the last week. Toroso ETF Industry Index was up 1.56% while the S&P Financial Select Sector Index led at 1.70%.
ETF Launches
BlackRock Long-Term U.S. Equity ETF (ticker: BELT)
BlackRock High Yield ETF (ticker: BRHY)
VictoryShares WestEnd Economic Cycle Bond ETF (ticker: BMDL)
VictoryShares WestEnd Global Equity ETF (ticker: GLOW)
Defiance Nasdaq 100 Income Target ETF (ticker: QQQT)
ETF Closures
None
Fund/Ticker Changes
The MSIFT Short Duration Income Portfolio (ticker: MPLDX)
became Eaton Vance Short Duration Income ETF (ticker: EVSD)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of June 21, 2024)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through June 21, 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.
