S&P Dow Jones Indices, one of the largest providers of indices for exchange traded funds, said assets under managements for global exchange traded products that track the company’s benchmarks have reached a combined $781 billion.
That is “a 20% increase over 2013 and a 31% market share — more than twice as much as the next index provider. More assets are invested in ETPs (ETFs + ETNs) based upon indices calculated and published by S&P DJI than any other index provider in the world,” said S&P Dow Jones Indices in a statement.
The largest ETF tracking an S&P index is the SPDR S&P 500 ETF (NYSEArca: SPY), the world’s largest ETF with over $188 billion in assets under management. The iShares Core S&P 500 ETF (NYSEArca: IVV) and the Vanguard 500 Index (NYSEArca: VOO), also S&P 500 tracking ETFs, have added over $19 billion in new assets combined this year. [Broad ETFs for Core Positions]
“As of December 12, 2014, there are 606 ETPs linked to indices calculated by S&P DJI. In addition, approximately 25% of ETF issuers globally have a product based on an index published by S&P DJI,” said the index provider in the statement.
In addition to being the index provider for an array of big-name broad market ETFs, such as SPY and the SPDR Dow Jones Industrial Average ETF (NYSEArca: DIA), S&P indices also serve as the benchmarks for State Street’s popular sector SPDR ETFs and an array of equal-weight ETFs, such as the Guggenheim S&P 500 Equal Weight ETF (NYSEArca: RSP) as well as Guggenheim’s lineup of equal-weight sector ETFs.
“S&P DJI factor-based indices currently underlie over $70 billion in ETP AUM, which represents an approximate 35% increase over 2013. Most recently, S&P DJI launched the S&P Momentum Indices, a brand-new factor-based index family designed to measure the performance of securities in the global equity markets that exhibit persistence in their relative performance. The momentum factor reflects the theory that relative strength strategies that rank stocks based on their past returns predict relative performance over the next 3-12 months,” said S&P Dow Jones.