ETF Assets Hit the $1 Trillion Mark
December 20th at 12:00pm by Tom Lydon
Another milestone has been reached by the exchange traded fund (ETF) industry: assets in U.S.-listed ETFs now stand at a cool $1 trillion.
According to BlackRock, the major mark was reached late last Thursday. That includes 894 ETFs with assets of $887.2 billion from 28 providers on two exchanges and 185 ETPs with assets of $115.5 billion from 20 providers on one exchange, reports Daisey Maxey for The Wall Street Journal. [The Battle for ETF Assets Rages On.]
Although it’s a great milestone for the industry, keep in mind that it’s still only a fraction of what’s owned in mutual funds.
Mutual fund assets, in turn, have struggled with weak inflows, outflows in some cases and a number of fund closures.
The ETF industry is growing fast, and it could catch up someday at the rate it’s going, but it won’t be anytime soon. A recent survey by Ignites shows that the majority believe it will happen eventually, though 27% said it would never happen. [November ETF Performance Report.]
Tisha Guerrero contributed to this article.
