Week of August 12, 2024 KPI Summary
During the week of August 12-16, the ETF industry saw 11 new launches, 8 fund closures, and 1 ticker symbol change.
- The 1 Year ETF Open-to-Close ratio has decreased slightly to 3.10, down from 3.19 two weeks ago
- The total number of US ETFs has risen to 3,655, representing a year-to-date growth of 8.1%
Our Toroso ETF Industry Index, which tracks companies generating revenue from the ETF ecosystem, mirrored the performance of the S&P Financial Select Sector Index, with both indexes posting an identical 3.23% gain.
Recent ETF launches and closures from the past week include:
- Three issuers make their market debut: Three issuers made their debut in the second week of August.
- Rockefeller Asset Management has entered the ETF market with its inaugural suite of actively managed fixed income funds, comprising three municipal bond ETFs. These funds provide investors with access to high-yield and high-grade municipal bonds, targeting high tax-efficient income.
- *TappAlpha* has introduced its first ETF, the SPY Growth & Daily Income ETF (TSPY).This ETF combines SPY exposure with daily income opportunities, using a covered call strategy that optimizes strike prices based on market volatility and historical data to potentially enhance returns beyond traditional S&P 500 tracking.
- Jensen Investment Management launches the Jensen Quality Growth ETF (JGRW), offering long-term capital appreciation through a large-cap growth strategy focused on high-quality US companies with durable competitive advantages. This marks Jensen’s entry into the ETF market, expanding its product line beyond mutual funds and SMAs.
- Blackrock closes 8 ETFs and Renames Another: Blackrock’s iShares, the largest ETF provider with $2.8 trillion in assets, has closed eight ETFs across diverse sectors and themes, including factor investing, climate, international, and work-from-home funds. In addition, the firm has rebranded its “Robotics & Artificial Intelligence Multisector ETF” (IRBO) to “Future AI & Tech ETF” (ARTY), which boasts approximately $600 million in assets.
- Charles Schwab Moves into Active Fixed Income: Schwab Asset Management, the fifth-largest ETF provider, has introduced the Ultra-Short Income ETF (SCUS), its first actively managed fixed income ETF. SCUS invests in high-quality, short-term US dollar-denominated debt securities with a duration of one year or less, and boasts a competitive expense ratio of 0.14%, outpacing the industry average of 0.18%. SCUS has made an impressive debut, gathering around $32 million in assets within its first six days of trading.
ETF Launches
Defiance Daily Target 1.75X Long MSTR ETF (ticker: MSTX)
ERShares Entrepreneur ETF (ticker: ENTR)
Janus Henderson Emering Markets Debt Hard Currency ETF (ticker: JEMB)
Jensen Quality Growth ETF (ticker: JGRW)
Rockefeller California Municipal Bond ETF (ticker: RMCA)
Rockefeller New York Municipal Bond ETF (ticker: RMNY)
Rockefeller Opportunistic Municipal Bond ETF (ticker: RMOP)
Schwab Ultra-Short Income ETF (ticker: SCUS)
Simplify Gamma Emerging Market Bond ETF (ticker: GAEM)
TappAlpha SPY Growth & Daily Income ETF (ticker: TSPY)
YieldMax Short N100 Option Income Strategy ETF (ticker: YQQQ)
ETF Closures
BlackRock Future Tech ETF (ticker: BTEK)
iShares Currency Hedged MSCI Germany ETF (ticker: HEWG)
iShares Gold Strategy ETF (ticker: IAUF)
iShares MSCI Intl Size Factor ETF (ticker: ISZE)
iShares Virtual Work and Life Multisector ETF (ticker: IWFH)
iShares USD Systematic Bond ETF (ticker: USBF)
iShares International Developed Property ETF (ticker: WPS)
Fund/Ticker Changes
iShares Robotics & Artificial Intelligence Multisector ETF (ticker: IRBO)
became iShares Future AI & Tech ETF (ticker: ARTY)
TETF.Index Performance vs. S&P Financial Select Sector Index
(as of August 16, 2024)
TETF.Index Performance vs. Other Leading Financial Indices
(March 31, 2017 through August 16, 2024)
Why Follow the ETF Industry KPIs
The team at Tidal Investments, originally operating as Toroso Investments, began tracking the ETF Industry Key Performance Indicators (KPIs) in the early 2000s and have been consistently reporting on, and analyzing these metrics ever since. This diligent tracking was the catalyst for the creation of the TETF.Index, an index that tracks the ETF industry. Now, as part of the Tidal Financial Group, which is affiliated with Tidal Investments, LLC, we are positioned to provide even more in-depth analysis and insights. Each week, we will share the statistics we believe to be the most useful for identifying industry trends, in addition to the performance of the TETF.Index.
By Justin Graiber
Originally published August 19, 2024
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DISCLAIMER
Past performance is no guarantee of future returns. This article is for informational and educational purposes only; is not intended to constitute legal, tax, accounting, or investment advice; and does not constitute an offer to sell or a solicitation of an offer to buy any security or service. Furthermore, the Indexes shown above are not investable. While Tidal Investments, LLC (formerly known as Toroso Investments, LLC) has gathered the information presented from sources that it believes to be reliable, Tidal Investments, LLC cannot guarantee the accuracy or completeness of the information presented and the information presented should not be relied upon as such. Any opinions expressed are Tidal Investments, LLC’s opinions and do not reflect the opinions of any affiliates or related persons. All opinions are current only as of the date of initial publication and are subject to change without notice. All investment strategies and investments involve risk of loss, including the possible loss of all amounts invested.
