ETF Industry KPI – 8/7/2023

Week of July 31, 2023 KPI Summary

Ryan Fitzgerald

  • This week, the industry experienced 7 ETF launches and 6 closures, shifting the 1-year Open-to-Close ratio to 1.81 and total US ETFs to 3,184.
  • July has capped off 5 consecutive months of positive asset growth and is the greatest of the 5. The industry is now up approximately $1.08 Trillion YTD (or 16.7%). Let’s check out some other notable data from July (data comparing 7/2/23-7/30/23):
    • Total assets increased 3.50%, there was an increase of 19 ETFs to total US ETF count (3,181), and -1 additional issuers by brand.
    • From our 11 asset class categories, Options increased the most (6.4%) with Geared/Swaps next (5.4%). Currency had the worst performance again (-3.7%) with Managed Futures at second worst (-1.4%). The two largest asset classes of Equity (77.3% of assets) and Fixed Income (18.2%) rose 4.2% and 0.9% respectivley.
      • Currency has been in the bottom 2 performing months for 5 consecutive months.
      • Geared/Swaps has been in the top 2 performing months for May, June, and July.
    • The ETF expense ratio annual revenue rose from $12.2 Bn to $12.7 Bn.
  • July was a terrific month for the ETF industry, and Equities in particular. This is now 5 consecutive months of total asset growth. For context, the previous record for the last 2 years before this streak was 2 consecutive months. The tremendous number of closures last week dropped the total ETF increase to an average number for 2023.  
  • The tracked indexes had very similar positive experiences in July. The Toroso ETF Industry Index was up 7.2% while the S&P Financial Select Sector Index trailed at 7.1%.

    ETF Launches

    AllianzIM U.S. Large Cap Buffer10 August ETF (ticker: AUGT)
    AllianzIM U.S. Large Cap Buffer20 August ETF (ticker: AUGW)
    First Trust Intermediate Duration Investment Grade Corporate ETF (ticker: FIIG)
    First Trust Intermediate Goverment Opportunities ETF (ticker: MGOV)
    DGA Absolute Return ETF (ticker: HF)
    Astoria US Quality Kings ETF (ticker: ROE)
    Academy Veteran Impact ETF (ticker: VETZ)

    ETF Closures

    ETFMG Breakwave Sea Decarbonization Tech ETF (ticker: BSEA)
    TrueShares ESG Active Opportunities ETF (ticker: ECOZ)
    Hartford Schroders ESG US Equity ETF (ticker: HEET)
    ALPS Hillman Active Value ETF (ticker: HVAL)
    Fount Metaverse ETF (ticker: MTVR)
    Revere Sector Opportunity ETF (ticker: RSPY)

    Fund/Ticker Changes

    Franklin FTSE Europe Hedged ETF (ticker: FLEH)
    became Franklin FTSE Eurozone ETF (ticker: FLEU)

    JPMorgan Equity Focus Fund (ticker: JPFAX)
    became JPMorgan Equity Focus ETF (ticker: JPEF)

    JPMorgan Limited Duration Bond Fund (ticker: ONUAX)
    became JPMorgan Limited Duration Bond ETF (ticker: JPLD)

    TETF.Index Performance vs. S&P Financial Select Sector Index

    (as of August 4, 2023)

    TETF.Index Performance vs. Other Leading Financial Indices
    (March 31, 2017 through August 4, 2023)

    Source: Morningstar Direct

    Why Follow the ETF Industry KPIs

    The team at Toroso Investments began tracking the ETF Industry Key Performance Indicators (KPI’s) in the early 2000’s and have been consistently reporting on, and analyzing these metrics ever since. The table above was the impetus for the creation of the TETF.Index, the index that tracks the ETF industry. 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 TEFT.Index. 


    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 Toroso has gathered the information presented from sources that it believes to be reliable, Toroso 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 Toroso’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.

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