Week of June 24, 2024 KPI Summary
This week, the ETF industry experienced 22 ETF launches and 1 closure, shifting the 1-year Open-to-Close ratio to 2.83 and total US ETFs to 3,581.
Our Toroso ETF Industry Index, which tracks companies generating revenue from the ETF ecosystem, rose 0.33% last week, outperforming the S&P Financial Select Sector Index, which declined by 0.19%.
Notable ETF listings in the last week of June include:
- TCW Flexible Income ETF (FLXR): TCW converted their mutual fund MetWest Flexible Income Fund (MWFEX) to an ETF, bringing over $335m of existing AUM, making this their 2nd biggest ETF.
- First Trust S&P 500 Economic Moat ETF (EMOT): Designed to identify and measure companies with sustainable competitive advantages, this ETF may compete with the popular VanEck Morningstar Wide Moat ETF (MOAT) which currently has ~$14b AUM.
- Capital Group ETFs: Capital Group introduced seven new active, transparent ETFs, including four equity and three fixed income ETFs, listed on the NYSE, bringing their total ETFs to 21 with AUM totaling $30b.
- YieldMax: YieldMax ETFs has expanded its ETF lineup to 27 funds in under 2 years, attracting support from retail investors and reaching $3.8 billion in assets under management (AUM).
ETF Launches
Capital Group Conservative Equity ETF (ticker: CGCV)
Capital Group Global Equity ETF (ticker: CGGE)
Capital Group International Core Equity ETF (ticker: CGIC)
Capital Group International Bond ETF (USD-Hedged) (ticker: CGIB)
Capital Group Municipal High-Income ETF (ticker: CGHM)
Capital Group New Geography Equity ETF (ticker: CGNG)
Capital Group Ultra Short Income ETF (ticker: CGUI)
Direxion Daily Uranium Bull 2X ETF (ticker: URAA)
First Trust S&P 500 Economic Moat ETF (ticker: EMOT)
FT Vest U.S. Equity Buffer & Premium Income ETF – June (ticker: XIJN)
FT Vest U.S. Equity Equal Weight Buffer ETF – June (ticker: RSJN)
FT Vest U.S. Equity Max Buffer ETF – June (ticker: JUNM)
Invesco MSCI Global Climate 500 ETF (ticker: KLMT)
Neuberger Berman Flexible Credit Income ETF (ticker: NBFC)
Neuberger Berman Short Duration Income ETF (ticker: NBSD)
NEOS Russell 2000 High Income ETF (ticker: IWMI)
PGIM Municipal Income Opportunities ETF (ticker: PMIO)
PGIM Ultra Short Municipal Bond ETF (ticker: PUSH)
Strive International Developed Markets ETF (ticker: STXI)
TCW Flexible Income ETF (ticker: FLXR)
The Nightview ETF (ticker: NITE)
YieldMax ABNB Option Income Strategy ETF (ticker: ABNY)
ETF Closures
JPMorgan Alerian MLP ETN (ticker: AMJ)
Fund/Ticker Changes
MetWest Flexible Income Fund (ticker: MWFEX)
became TCW Flexible Income ETF (ticker: FLXR)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of June 28, 2024)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through June 28, 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.
