There's a new number two player in the ETF business in the U.S.

Olivier Ludwig of ETF.com reports that as of market close on Tuesday, Vanguard had the second-most ETF assets under management of any U.S. ETF provider, passing State Street Global Advisors (SSgA).

By ETF.com's own numbers, number one BlackRock iShares now has $756.4 billion in ETF AUM, while Vanguard has $432.6 billion and SSgA has $431.8 billion. Rounding out the top ten ETF providers in the U.S. business are: Invesco PowerShares at number four with $94.68 billion; WisdomTree at five with $40.33 billion; First Trust at six with $33.07 billion; Guggenheim at seven with $28.37 billion; Schwab at eight with $27.66 billion; ProShares at nine with $24.40 billion; and Van Eck at ten with $22.99 billion.

The trade publication credits the rank change in part to big outflows over the past few days from SSgA's flagship product, the $191-billion SPDR S&P 500 ETF (SPY), which is still the biggest ETF in the world. As for Vanguard's steady ETF rise, ETF.com points to its broad variety of offerings and lower ETF turnover. Yet ETF.com notes that SSgA "may well recapture the No. 2 spot and even hold it, as the company has much to recommend it." 

Edited by: Neil Anderson, Managing Editor


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