ETF Industry KPIs – 8/19/2024

• 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 Climate and Sustainable Economy ETF (ticker: BECO)
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)