Goldman Sachs wants to get in on the exchange traded fund (ETF) industry. But first, the financial industry giant has launched a mutual fund that holds ETFs covering a range of asset classes.

Goldman Sachs launched the Dynamic Allocation Fund, a fund made up of ETFs designed to help investors add wealth by seeking long-term capital appreciation, diversification and flexibility to reduce exposure in choppy markets, the firm said. [How Schwab’s ETF Entry Upped the Ante.]

This launch came not long after Goldman filed to launch a suite of ETFs. Goldman already has a formidable ETF trading desk, as well. It’s just the latest in a growing line of well-established Wall Street names looking to enter what may be one of the financial sector’s fastest-growing industries. [PIMCO, Another Big ETF Player.]

As this competition gets deeper, the products will continue to evolve in favor of investors, as they will have the best products available to choose from. [Fidelity Gets In…Sort Of.]

For more stories about ETFs, visit our ETF 101 category.

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.