The final exchange traded fund (ETF) tally for 2007 is out, and the news is good. Between the number of funds added to the roster and the assets brought in, ETFs crossed two thresholds.
Kevin Burke for Ignites reports that in the last month of the year, $32 billion in assets were brought in, lifting the total assets in ETFs to $608 billion. Meanwhile, 17 ETFs were added to the fold, meaning the total number of U.S. listed ETFs is now at 629.
Despite the growing ranks and assets, some analysts say that many ETFs aren’t profitable, which could lead to a possible culling of the herd. This will be a year to wait and see what happens.
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.