I noticed the crazy amount of assets going into SPY recently. That's not the only wild activity going on in ETF markets.
Let's have some fun with the data.
Last week's data through September 21 actually shows total new assets in the SPDRs at $91.5 billion (close of market today shows $88 billion). I told you those guys at SSgA were comers. EAFE comes in second at over $47 billion. Total assets in the U.S. are now at $566 billion as of that date. But have you stopped to take a look around the ETF asset block lately?
It ain't Kansas anymore. In fact it looks decidedly like downtown San Francisco (home of BGI's iShares). Here's a rough look at the current top 10, very nearly all now over $10 billion in assets:
1. SPDRs Trust S&P 500 (NYSEARCA:SPY) $91.6 billion
2. iShares MSCI EAFE (NYSEARCA:EFA) $47.6 billion
3. iShares MSCI Emerging Markets (NYSEARCA:EEM) $20.9 billion
4. Nasdaq 100 Trust (QQQQ) $19.9 billion
5. iShares S&P 500 (NYSEARCA:IVV) $17.8 billion
6. StreetTRACKS Gold Trust (NYSEARCA:GLD) $13.5 billion
7. iShares Russell 2000 (NYSEARCA:IWM) $13.5 billion
8. iShares Russell 1000 Growth (NYSEARCA:IWF) $12.7 billion
9. iShares MSCI Japan $11.2 billion (NYSEARCA:EWJ)
10. iShares Russell 1000 Value (NYSEARCA:IWD) $9.9 billion
Some of the old standbys don't even make the list. Most notable among those are the SPDRs Mid Cap (NYSEARCA:MDY) at $9.6 billion and the DIAMONDS [DJIA] Trust (NYSEARCA:DIA) ($8.0 billion). Also, the erstwhile Vanguard Total Market fund (NYSEARCA:VTI) is just off the list at $9.3 billion. For a complete list of all the volume and asset numbers, click here (.xls). This is from the AMEX. Go to the Volume and Assets tabs to get consolidated volume.
I just find all of these numbers endlessly fascinating ... they've really moved with the ETF market by issuer, and also with the broader market in terms of where people have moved their money (lately to international, which is driving the BGI revenue train right now). Something else that is remarkable is that of all the newcomers in terms of alternative asset classes, really only GLD falls out of the ordinary old equity index category.
How about those Russell indexes too? How many of you knew the iShares Russell 1000 Growth and Value index ETFs had gotten so huge? It's also amazing that no sectors find themselves here given how big the Select Sector SPDRs are. But I guess that's a universe divided by 9 or 10.
Something else ... the market. There are 564 ETFs listed here. Of the total of $566 billion in assets (right now, over $1 billion average fund), $198 billion (35%) is in the top 5 and $262 billion (46%) is in the top 10. I've just listed that out at 4:00 a.m. on a Saturday morning. But I think it's about right.
And they keep on rolling ahead.
Written by Jim Wiandt