Week of October 21, 2024 KPI Summary
During the last week of October, the ETF industry saw 19 new launches, 1 mutual fund conversion, 1 ticker change, and 7 fund closures.
- The current 1 Year ETF Open-to-Close ratio sits at 3.42.
- The total number of US ETFs has risen to 3,820.
Our Toroso ETF Industry Index, which tracks companies generating revenue from the ETF ecosystem, fell 1.79% last week, outperforming the S&P Financial Select Sector Index, which fell by 2.07%.
ETF activity from the past week includes:
- KKM Financial Converts MF to ETF: KKM Financial has converted its Essential 40 mutual fund into an ETF, aligning with a growing trend among asset managers toward tax-efficient investment options. According to Strategas, the number of active equity mutual funds has fallen to its lowest level in 24 years. The Essential 40 ETF, trading under the ticker ESN, offers investors an equal-weighted fund featuring major U.S. companies integral to the economy, providing a “buy what you use” approach.
- New iShares ETFs Focus on Top-Performing Stocks: BlackRock expands its large-cap ETF lineup with the launch of three new iShares funds focused on top-performing U.S. stocks. The iShares Top 20 U.S. Stocks ETF (TOPT) invests in the 20 largest U.S. companies by market cap within the S&P 500 Index. Meanwhile, the iShares Nasdaq Top 30 Stocks ETF (QTOP) invests in the top 30 stocks from the Nasdaq 100 Index, and the iShares Nasdaq-100 ex Top 30 ETF (QNXT) invests in the next 31-100 stocks derived from the Nasdaq 100 Index.
- Tuttle Capital launches European Defense & Aerospace ETF: Tuttle Capital Management debuts the Select STOXX Europe Aerospace & Defense ETF (EUAD), offering targeted exposure to European defense stocks. EUAD focuses on European companies in the aerospace and defense sectors, investing primarily in those generating significant revenue from related products and services. This ETF is catering to investors looking for exposure in this sector amid rising global tensions and potential shifts in U.S. security commitments.
ETF Launches
Amplify Small-Mid Cap Equity ETF (ticker: SMAP)
Defiance Large Cap ex-Mag 7 ETF (ticker: XMAG)
Essential 40 Stock ETF (ticker: ESN)
FT Vest Nasdaq-100® Conservative Buffer ETF – October (ticker: QCOC)
FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF (ticker: DHDG)
FT Vest U.S. Equity Uncapped Accelerator ETF – October (ticker: UXOC)
FT Vest U.S. Equity Max Buffer ETF – October (ticker: OCTM)
iShares A.I. Innovation and Tech Active ETF (ticker: BAI)
iShares Nasdaq Top 30 Stocks ETF (ticker: QTOP)
iShares Nasdaq-100 ex Top 30 ETF (ticker: QNXT)
iShares Technology Opportunities Active ETF (ticker: TEK)
iShares Top 20 U.S. Stocks ETF (ticker: TOPT)
Mohr Company Nav ETF (ticker: CNAV)
Quantify Absolute Income ETF (ticker: YLDA)
Select STOXX Europe Aerospace & Defense ETF (ticker: EUAD)
T-REX 2X Inverse Ether Daily Target ETF (ticker: ETQ)
T-REX 2X Long Ether Daily Target ETF (ticker: ETU)
T. Rowe Price Technology ETF (ticker: TTEQ)
TradersAI Large Cap Equity & Cash ETF (ticker: HFSP)
ETF Closures
USCF Aluminum Strategy ETF (ticker: ALUM)
AAM S&P Developed Markets High Dividend Value ETF (ticker: DMDV)
AAM S&P Emerging Markets High Dividend Value ETF (ticker: EEMD)
iShares iBonds October 2024 Term Tips ETF (ticker: IBIA)
ALPS Global Travel Beneficiaries ETF (ticker: JRNY)
Nuveen Global Net Zero Transition ETF (ticker: NTZG)
Janus Henderson International Sustainable Equity ETF (ticker: SXUS)
Fund/Ticker Changes
KKM Essential 40 Stock Fund (ticker: KKMIX)
became Essential 40 Stock ETF (ticker: ESN)
Amplify Global Cloud Technology ETF (ticker: IVES)
became Amplify Bloomberg AI Value Chain ETF (ticker: AIVC)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of October 25, 2024)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through October 25, 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.
