2008 was an outstanding year for the exchange traded fund (ETF) industry, churning out endless funds, and some of the most creative and innovative ideas yet.
- The contest for most innovative ETF was not limited to a particular fund, rather, the provider of the most creativity/innovation seemed to be the theme. The 5th Annual Global ETF Awards gave a tie to Invesco PowerShares’ and Van Eck’s Market Vectors ETF families. Lawrence Carrel for Seeking Alpha notes that voters did not have to list a specific ETF for the top prizes, but he suspects that PowerShares won for producing the first line of actively managed ETFs.
- Carrel says Market Vectors likely won for the advent of Africa Index ETF (AFK) and/or Gulf States Index (MES).These were two of the five ones to market from Market Vectors last year.
- State Street won for Most Recognized ETF Brand in the Americas, thanks to a few factors, including the fact that the SPDR (SPY) is the largest and most liquid ETF in the United States.
- State Street also took home the prize for Most Informative Website.
The Global ETF Awards are like the Oscars of the ETF industry, says Carrel. Winning a prize at these awards is a feat in itself because competitors are voting – not just a panel of a few judges.
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.