Related: Cheap TIPS ETF Nets $1.2 Billion In Past Week

A similar investment trend is found in the ETF industry. ETFGI data revealed that fewer than 7% of ETFs charge 10 basis points or less but hold more than a third of total assets. Over half of ETF assets are held in those that charge 0.20% or less.

“Cost is a criteria people look at very early on in their decision making because it’s one of the easiest things to get data on,” Deborah Fuhr, managing partner at ETFGI, told FT. “Like when buying cornflakes, if all the products look the same and there is little difference in quality, consumers tend to go for the cheapest.”

For more information on the ETF industry, visit our ETF Performance Reports category.