The month of October produced many treats for investors, especially where exchange traded funds (ETFs) are concerned. As of October 31, 2007, there were 586 ETFs in the U.S. with total assets at $584 billion. A total of 18 ETF providers were taking care of this money. Twenty-six new ETFs were born this October.
Carl Delfeld for ETFXRAY reports that nine of the 10 categories experienced growth, and Barclays continues to be the heavy, with $338 billion invested in 141 ETFs. They are followed by State Street, with $129 billion across 64 ETFs. All together, Barclays, State Street and Vanguard accounted for 87% of the U.S.-listed ETF market. Meanwhile, international ETFs continued to rake in assets at $172 billion, up 13.6%. There is no doubt that the ETF industry is staying strong.
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.