and his team at the low-cost leviathan have passed another milestone, though they were second this time.
| Mortimer J. Buckley|
] ETF business recently crossed the $1-trillion-AUM milestone, ETF.com
and Seeking Alpha
report. The only other firm in that exclusive club is the world's largest asset manager and ETF shop, BlackRock, whose iShares ETF business had more than $1.5 trillion
in AUM as of June 26. (Vanguard, though second-biggest when it comes to ETFs and total asset management business, remains the biggest mutual fund firm in the world by AUM.)
To put those numbers in perspective, as of the end of May, the entire ETF and exchange traded product (ETP) industry worldwide had $5.32 trillion in AUM, ETFGI estimates
. In other words, the two biggest U.S. ETF shops together now account for 48 percent of all ETF AUM worldwide.
It may be a little while before a third member joins the exclusive $1-trillion-plus-ETF-AUM club. As of June 26, the third, fourth and fifth biggest ETF shops had less than $1 trillion in combined ETF AUM between; the biggest of those, SSgA, had about $643 billion.
Neil Anderson, Managing Editor
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