A major milestone for the ETF industry was achieved today (May 7, 2010). For the first time ever, U.S. investors can choose from more than 1,000 different exchange-traded products. The number of currently listed products stands at 1,001, consisting of 908 ETFs and 93 ETNs.
Today’s introduction of three new iShares ETFs caused the 1,000 level to be surpassed for the first time. The official count at the end of April stood at 998, and the listings of iShares MSCI Indonesia (NYSEARCA:EIDO), iShares MSCI Ireland (NYSEARCA:EIRL), and iShares MSCI USA (NYSEARCA:EUSA) makes it 1,001.
The 1,000 level may be short lived as Rydex has announced plans to shutter a dozen funds on May 21. If the quantity dips back into triple digits on that day, I don’t expect it to take long to climb back.
Back on November 2, 2009 another milestone was reached when the 1,000th ETP was launched. However, due to closures, there were only 882 listed at that time.
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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.