“If the most important decision is asset allocation, you should be indexing,” Maister added.

Additionally, Dan Waldron, ETF strategist at First Trust, also highlighted some other themes in the ETF space that could also fuel further industry growth.

“Active is the future, and that’s where it’s heading,” Waldron said. “There will also be continued growth in fund of funds ETFs. Bundling will be an area of real growth. And don’t forget about dynamic allocations as an area of growth, where ETFs are switching from something like cap-weighted to equal-weighted inside a fund.”

For more information on the ETF industry, visit our ETF performance reports category.