Exchange traded funds (ETFs) combined with mutual funds have total assets at $10 trillion. John Waggoner of USA Today compared the nations entire gross domestic product at about $13.3 trillion. Passing the $10 trillion barrier is huge because in September of 2002 they were only at $6.1 trillion. It also took three decades for mutual funds to grow to a Wall Street main attraction.
ETFs are like mutual funds, but they trade like stocks on exchanges and track broad stock indexes. ETFs currently represent $360 billion, up from $80 billion in 2001. The projected growth is at $1 trillion by 2010, in ETFs alone.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.