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
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."
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now