2008 was an outstanding year for the exchange traded fund (ETF) industry, churning out endless funds, and some of the most creative and innovative ideas yet.

• The contest for most innovative ETF was not limited to a particular fund, rather, the provider of the most creativity/innovation seemed to be the theme. The 5th Annual Global ETF Awards gave a tie to Invesco PowerShares’ and Van Eck’s Market Vectors ETF families. Lawrence Carrel for Seeking Alpha notes that voters did not have to list a specific ETF for the top prizes, but he suspects that PowerShares won for producing the first line of actively managed ETFs.

• Carrel says Market Vectors likely won for the advent of Africa Index ETF (AFK) and/or Gulf States Index (MES).These were two of the five ones to market from Market Vectors last year.

• State Street won for Most Recognized ETF Brand in the Americas, thanks to a few factors, including the fact that the SPDR (SPY) is the largest and most liquid ETF in the United States.

• State Street also took home the prize for Most Informative Website.

The Global ETF Awards are like the Oscars of the ETF industry, says Carrel. Winning a prize at these awards is a feat in itself because competitors are voting – not just a panel of a few judges.

Tags: AFK, ETF Performance Reports, Global ETFs, MES