January’s new ETF activity hit the highest level in seven months. After ten days of no introductions, the pace jumped to more than one a day with 23 launches in the last 21 calendar days of the month. So far the new rollouts have been limited to ETFs rather than ETNs. Month-end totals stood at 1,189 ETFs and 203 ETNs for a total of 1,392 ETPs. Two of the new listings are actively-managed funds, pushing their count to 41. No products closed in January.
ETF/ETN assets under management climbed 8.4% to $1.15 trillion, most of which came from market gains rather than new investments. The largest product, SPDR S&P 500 (SPY), ended the month with more than $99 billion in assets and is on track to soon cross the $100 billion threshold.
Trading activity slipped with dollar volume (value traded) across all ETPs coming in at $1.16 trillion for the month. This is a -13% drop from December and a whopping -60% plunge from the $2.92 trillion pace in August 2011. Monthly dollar volume for January was the lowest since December 2010’s $1.11 trillion. Of course there were 21% fewer ETPs at that time, so January’s results were even worse on an “average per fund” basis.
Nonetheless, the number of ETFs averaging more than $1 billion in daily trading activity (the Billion Dollar Club) actually increased from 7 to 8 in January. The percentage of all ETP dollars traded by this group slipped from 56% to 55%. This suggests trading activity is moving down the food chain, away from the top tier. The trend was also evident in the next tier; the number of products averaging more than $100 million of trading per day grew from 68 to 72 while their percentage of all ETP dollar volume slipped from 89% to 88%.
| January 2012 Month End | ETFs | ETNs | Total |
|---|---|---|---|
| Currently Listed U.S. | 1,189 | 203 | 1,392 |
| Listed as of 12/31/2011 | 1,166 | 203 | 1,369 |
| New Introductions for Month | 23 | 0 | 23 |
| Delistings/Closures for Month | 0 | 0 | 0 |
| Net Change for Month | +23 | 0 | +23 |
| New Introductions 6 mths | 94 | 35 | 129 |
| New Introductions YTD | 23 | 0 | 23 |
| Delistings/Closures YTD | 0 | 0 | 0 |
| Net Change YTD | +23 | 0 | +23 |
| Actively-Managed Listings | 41 | 0 | 41 |
| Assets Under Mgmt ($ billion) | $1,134 | $15.5 | $1,149 |
| % Change in Assets for Month | +8.5% | +5.4% | +8.4% |
| Monthly $ Volume ($ billion) | $1,142 | $18.4 | $1,160 |
| % Change in Monthly $ Volume | -13.0% | -9.4% | -13.0% |
| Avg Daily $ Volume > $1 Billion | 8 | 0 | 8 |
| Avg Daily $ Volume > $100 Million | 70 | 2 | 72 |
| Avg Daily $ Volume > $10 Million | 219 | 10 | 229 |
Data sources: Daily prices and volume of individual ETPs from Norgate Premium Data, AUM from ETF Industry Association, fund counts and all other information compiled by Invest With An Edge
New products launched in January (sorted by name):
January new product reviews are contained in First Seven New ETFs of 2012, Nine More ETFs Emerge, and Seven Single-Country ETFs from iShares on BATS.
Product closures/delistings in January (sorted by name):
none
Product changes in January:
Announced Product Changes for Coming Months:
Previous monthly ETF statistics reports are available here.
Disclosure covering writer, editor, publisher, and affiliates: No positions in any of the securities mentioned. No positions in any of the companies or ETF sponsors mentioned. No income, revenue, or other compensation (either directly or indirectly) received from, or on behalf of, any of the companies or ETF sponsors mentioned.
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