iShares announced this week that it has surpassed two major milestones, serving as yet another reminder of the tremendous growth in the ETF industry in recent years. As of March 31, the company had broken through the $500 billion asset level, officially reporting $509 billion in global assets under management. This figure represents nearly half of total ETF assets, making iShares by far the largest ETF provider. iShares has 434 ETFs globally, with 201 U.S funds. U.S. assets total $409 billion, while iShares Europe has 172 ETFs with $100 billion in AUM.
The $500 billion milestone was passed just as the company began celebrating its ten year anniversary. “iShares ETFs have significantly impacted the way people invest by providing investors with access and liquidity to markets around the world, and achieving this $500 billion AUM milestone greatly validates the acceptance of iShares ETF offerings,” said Michael Latham, Head of US iShares. “iShares continues to help drive global ETF industry growth by educating financial intermediaries and the investing public about iShares as core investments, continuing the development of innovative, solutions-oriented products and expanding the availability of iShares via 401(k) and other platforms.”
The latest figures from the National Stock Exchange show that iShares is continuing to attract billions of dollars. After about $1.2 billion flowed out of iShares funds in February, more than $5 billion in in March, putting first quarter inflows at $2.2 billion. That figure is second to only Vanguard’s $8.4 billion. iShares and Vanguard compete directly in several corners of the ETF market, and the firm founded by the legendary Jack Bogle has emerged as a formidable competitor to iShares’ ETF dominance. Vanguard’s market share has frown from about 9% a year ago to nearly 13%, while iShares has held steady around the 50% mark.
Disclosure: No positions at time of writing.