Mega-ETFs
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Investors continue to pump money into ETFs, and there are now 188 in the US with more than $10 billion in assets and 13 with more than $100 billion.
The 188 ETFs that each have more than $10 billion in assets have a combined AUM of $8.7 trillion, while the 13 that have more than $100 billion each combine for $3.7 trillion. Similar to the mega-caps dominating the S&P 500, the "mega-ETFs" dominate the ETF world.
Below is a list of the largest US ETFs by AUM along with their year-to-date performance and expense ratios.
The three biggest ETFs all track the S&P 500. The Vanguard S&P 500 ETF (VOO) is the biggest with $682 billion in AUM, followed by the first-ever ETF - SPY - at $611 billion and the BlackRock-owned iShares Core S&P 500 ETF (IVV) at $585 billion.
The next two largest are Vanguard's Total Stock Market (VTI) at $486 billion and Invesco's QQQ Trust (QQQ) at $337 billion.
Vanguard's FTSE Developed Markets ETF (VEA) is the biggest global stock market ETF, followed by the iShares Core MSCI EAFE ETF (IEFA).
There are two fixed income ETFs with $100+ billion in AUM: Vanguard's Total Bond Market (BND) and iShares' Core US Aggregate Bond (AGG). And finally, the SPDR Gold Shares ETF (GLD) has also eclipsed the $100 billion mark recently after gaining 26.5% on the year.
Of the ETFs shown, GLD has the highest expense ratio at 0.40% per year, but that's not too bad considering all the gold it has to store!
While not yet at $100 billion in AUM, the iShares Bitcoin Trust (IBIT) is currently the 24th largest US ETF at $71 billion. That represents roughly 3.3% of Bitcoin's total market cap of $2.14 trillion. With a 0.25% expense ratio, that's a cool $177.5 million in annualized fees for BlackRock (BLK) from that ETF alone. That's also $2 million more than the $175.5 million they get from the 3 basis points charged on their S&P 500 ETF (IVV).
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Disclaimer: Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any ...
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