ETF Inflows & Outflows
Performance Leaders & Laggards
Weekly ETF Reads
Morgan Stanley plans to add Parametric, Eaton Vance-branded ETFs to platform by Kathie O’Donnell
“This marks the next step for Morgan Stanley, which could turn out to be a sleeping giant in the ETF market.”
Why TCW’s Deal to Buy Engine No. 1’s ETF Business Works by Michael Thrasher
“This acquisition signifies an early chapter in TCW’s next stage of growth.”
JPMorgan Gains Ground as BlackRock’s Grip on ETF Market Loosens by Katie Greifeld
“Actively managed ETFs have absorbed about 23% of the total inflows that ETFs garnered so far this year.”
Single Bond ETF Tops $1B in Assets for First Time by Sumit Roy
“The US Treasury 3 Month Bill ETF (TBIL) crossed $1 billion in assets under management on June 5, less than 10 months after launching.”
The Unintended Consequences of Managing ESG Risks by Daniel Sotiroff
“The types of ESG ETFs available to investors span a wide spectrum.”
Why BlackRock and Other Fund Companies Are Pushing Deeper Into Crypto by Joe Light
“We see this as akin to the early days of ETFs.”
Grayscale’s Latest GBTC Comment Letter by Craig Salm
“The SEC should not pick winners and losers.”
ETF Tweet of the Week
The Invesco QQQ ETF, which tracks the recently rebalanced Nasdaq-100 index, is up over 40% year-to-date. Bloomberg’s Athanasios Psarofagis highlights the 50 equity-related ETFs that are currently outperforming QQQ. This list features an eclectic mix of crypto-related ETFs, ARK ETFs, meme ETFs, semiconductor ETFs, individual country ETFs, and more. Yee-haw…
ETF Chart of the Week
Every now and then, I like to mix in something of my own here. The below chart is one I’ve maintained for a number of years and compares fees across the top 10 ETF issuers. Vanguard is currently the lowest cost issuer when looking at both simple average and asset-weighted average fees. The ETF industry simple average fee is currently 0.55% and the asset-weighted average fee is about 0.17%. Interestingly, the simple average fee has ticked up ever so slightly during the past several years, while the asset-weighted average fee has come down. What does that tell us? More new ETFs are launching at a higher price point (think buffer ETFs, single stock ETFs, thematic ETFs, etc), while investors continue seeking out the lowest cost ETFs overall.
