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December 2017 ETF 20/20: Exchange Traded Fund Monthly Report


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Key Highlights

Our monthly ‘ETF 20/20’ report briefly summarizes recent Exchange Traded Fund (ETF) trends globally. It uses data from the First Bridge ETF database that includes all global ETPs.

  • Global ETF assets grew by 3.05% in November 2017 to $4.776T.
  • Dividend ETFs have taken in over $10.6B in net new assets this year through end November 2017, equivalent to about 6% of assets in the category. Multi-factor equity ETFs have taken in $8.6B, about 12% of November end assets.
  • There were 50 new ETF listings in the US in November 2017. There were over 90 new ETF listings outside the US in the month.
  • US large cap equity (‘SPY’) was the best performing of 6 ETFs representing the major asset classes in the trailing 1 month through December 18, 2017.
  • In the US large cap equity space, value (‘RPV’) outperformed traditional cap weighting and other ‘smart beta’ strategies in the trailing 1 month through December 18, 2017.

About Us

First Bridge provides ETF data and analytics to reputed institutional clients. Our ETF data sets include daily ETF holdings, global ETF product & smart beta classifications, historical distributions and risk metrics. Our clients include asset managers, financial software providers and research firms that use ETF data as a critical input into their systems & workflow. We often provide ‘high touch’ services to our clients in the form of ETF data sets customized to their needs with related support.  The First Bridge team combines deep expertise in the Indexing & ETF domain with skills in statistical programming and data visualization.

Email: support@firstbridgedata.com

Phone: (650) 762-9270

Web: http://www.firstbridgedata.com

Global ETPs: Landscape Snapshot

Global ETF assets grew by 3.05% in November 2017 to $4.776T. The table below provides a detailed breakdown by ETF category, and is a summary from the First Bridge ETF data and analytics platform.

ETF / ETP Type

Assets ($M) - Nov '17

Assets ($M) - Oct '17

  1. Bonds

1.1 Broad Market

239,790

235,231

1.2 Corporate

263,821

260,961

1.3 Municipal

29,799

29,537

1.4 Treasury / Sovereign

158,847

158,107

1.5 Inflation Protected

54,723

53,188

1.6 Specialty / Other

66,713

65,913

  1. Commodities & Metals

2.1 Diversified Commodities

16,414

15,619

2.2 Agricultural

2,195

2,219

2.3 Energy

7,919

8,264

2.4 Gold & Metals

108,027

105,999

2.5 Other

159

150

  1. US Equity Exposure

3.1 Broad Market & Size

1,047,903

1,005,591

3.2 Dividend & Fundamental

114,182

109,791

3.3 Factor & Thematic

78,185

72,903

3.4 Sector & Industry

352,444

338,525

3.5 Growth / Value

332,038

319,359

3.6 Quant Strategy & Other

10,271

9,871

  1. Global/Ex-US Equity Exposure

4.1 Broad Market & Regional

837,496

819,509

4.2 Country Specific

571,868

554,337

4.3 Dividend & Fundamental

97,514

95,058

4.4 Factor & Thematic

108,345

103,354

4.5 Sector & Industry

91,617

89,123

4.6 Quant Strategy & Other

2,573

2,466

  1. Multi-Asset & Other

75,443

75,011

  1. Inverse / Leveraged

75,762

72,857

  1. ETP Listed in Israel*

32,198

31,900

All Globally Listed ETPs

4,776,247

4,634,842

Source: First Bridge Data and individual ETF Sponsors; ETF data as of November 30, 2017

* The Global Equities category includes both International (ex-US) and Global (US + International)

** Asset breakdown by exposure type not available for ETFs listed in Israel

Net Flows for US Listed ETFs

Dividend ETFs have taken in over $10.6B in net new assets this year through end November 2017, equivalent to about 6% of assets in the category. Multi-factor equity ETFs have taken in $8.6B, about 12% of November end assets.

Table: Assets & Flows for Key Traditional and Smart Beta Equity ETFs (as of Nov 2017)

Category

YTD Flows ($M)

Nov '17 Assets ($M)

Flows as % of Assets

Traditional Beta

Broad/Size

194,684

1,550,163

13%

Industry Sector

29,614

374,884

8%

Growth/Value Cap Weighted

24,877

328,425

8%

Smart Beta

Dividend

10,621

165,492

6%

Multi Factor

8,638

70,417

12%

Low Volatility

3,545

43,389

8%

Thematic

6,862

27,710

25%

Equal Weighted Size

1,376

16,104

9%

Growth/Value Weighted

836

14,227

6%

Momentum

2,821

8,988

31%

Quality

624

5,859

11%

Source: First Bridge Data; ETF data as of November 30, 2017

November 2017 ETF Launches – US

There were 50 new ETF listings in the US in November 2017. The new listings are summarized below (this is a subset of our complete regularly updated ETF list).

Table: November 2017 ETF Launches in the US

Type of Exposure

Sponsor

Tickers

Expense Ratios

(in bps)

US Equities

Inverse Market Cap Weighting

Exponential ETFs

RVRS:US

29

Small & Mid Cap Dividend

First Trust

SDVY:US

60

US Dividend and Buyback

Blackrock

DIVB:US

25

Listed Entrepreneurial Firms

Capital Impact

ENTR:US

49

Risk Adjusted US Dividend

JPMorgan

JDIV:US

12

US Minimum Volatility

JPMorgan

JMIN:US

12

US Momentum Factor

JPMorgan

JMOM:US

12

US Quality Factor

JPMorgan

JQUA:US

12

US Value Factor

JPMorgan

JVAL:US

12

US Multifactor Small Cap

John Hancock Funds

JHSC:US

50

US Large Cap Multifactor

Oppenheimer

OMFL:US

29

US Small Cap Multifactor

Oppenheimer

OMFS:US

39

US Large Cap Momentum Factor

Oppenheimer

OMOM:US

19

US Large Cap Quality Factor

Oppenheimer

OQAL:US

19

US Large Cap Size Factor

Oppenheimer

OSIZ:US

19

US Large Cap Value Factor

Oppenheimer

OVLU:US

19

US Large Cap Low Volatility

Oppenheimer

OVOL:US

19

US Large Cap Yield Factor

Oppenheimer

OYLD:US

19

Pharma & Medical 3x Leveraged

Direxion Shares

PILL:US

112

'Declining Retail' Theme

ProShares

EMTY:US

65

Long Online/Short Stores

ProShares

CLIX:US

65

US High Dividend Value

Advisors AM

SPDV:US

29

Private Equity Replication

US Cmdty Funds

BUY:US

95

Natural Resources

US Cmdty Funds

BUYN:US

95

Global or Ex-US Equities

Large & Mid Cap Australia

Franklin Templeton

FLAU:US

09

Large & MidCap Brazil

Franklin Templeton

FLBR:US

19

Large & MidCap Canada

Franklin Templeton

FLCA:US

09

Large & MidCap China

Franklin Templeton

FLCH:US

19

Large & MidCap France

Franklin Templeton

FLFR:US

09

Large & MidCap Germany

Franklin Templeton

FLGR:US

09

Large & MidCap Hong Kong

Franklin Templeton

FLHK:US

09

Large & MidCap Italy

Franklin Templeton

FLIY:US

09

Large & MidCap Japan

Franklin Templeton

FLJP:US

09

Large & MidCap South Korea

Franklin Templeton

FLKR:US

09

Large & MidCap Mexico

Franklin Templeton

FLMX:US

19

Large & MidCap Taiwan

Franklin Templeton

FLTW:US

19

Large & MidCap UK

Franklin Templeton

FLGB:US

09

Large & MidCap Europe

Franklin Templeton

FLEE:US

09

Large & MidCap Europe Hedged

Franklin Templeton

FLEH:US

09

Large & MidCap Japan Hedged

Franklin Templeton

FLJH:US

09

Emerging Markets - Quant

Virtus ETF Solutions

EMEM:US

68

Developed Markets Ex US Ex Korea - Multi-Factor

Principal

PXUS:US

39

Emerging Markets High Dividend Value

Advisors Asset Management

EEMD:US

49

Target Date / Multi-Asset

Multi-Asset Growth - Active

FormulaFolio

FFSG:US

71

Multi-Asset Tactical Growth - Active

FormulaFolio

FFTG:US

100

Other Asset Types - Hedge Fund Replication

Hedge Fund - Event Driven

JPMorgan Chase

JPED:US

85

Bonds

Municipal High Income

First Trust

FMHI:US

55

US Invt. Grade Corporate Bond

Vanguard

VTC:US

07

Global Diversified Credit

Eaton Vance

OKDCC:US

90

High Yield Senior Floating-Rate

Eaton Vance

EVFTC:US

73


ETF List:
http://www.firstbridgedata.com; Data as of November 30, 2017

November 2017 ETF Listings – Global

There were over 90 new ETF listings outside the US in November 2017 including cross-listings. The table below shows the ex-US new listings count by asset class and sponsor.

Sponsor

Bonds

Global / Ex-US Equity

Leveraged / Inverse

Multi-Asset & Other

Preferred Stock

US Equity

Total

Amundi

1

1

Asset Mgmt

1

1

Beta Shares ETF

1

1

2

Blackrock

6

1

7

BNP Paribas

1

1

2

Deutsche

6

6

Equium Capital

1

1

Evolve Funds

1

1

Fidelity

5

2

7

Fubon AM

1

1

Horizons

3

3

ICICI Prudential

1

1

Invesco PS

4

7

1

1

13

JPMorgan Chase

2

2

4

KB AM

2

1

3

KIS

2

2

Lyxor

1

1

Mackenzie

1

1

1

3

Manulife

1

2

3

NHIS

2

2

Paradigm

2

2

Samsung

4

3

1

8

Shinhan

2

2

UBS

11

11

Van Eck

1

1

2

Vanguard

4

4

Grand Total

22

33

12

9

3

14

93


ETF Data Source:
www.firstbridgedata.com; As of November 30, 2017

Performance of Key Asset Classes & Strategies

US large cap equity (‘SPY’) was the best performing of 6 ETFs representing the major asset classes in the trailing 1 month through December 18, 2017.

In the US large cap equity space, value (‘RPV’) outperformed traditional cap weighting and other ‘smart beta’ strategies in the trailing 1 month through December 18, 2017.

             Data source: First Bridge Data (http://www.firstbridgedata.com); Data as of December 18, 2017

More First Bridge ETF Resources

First Bridge maintains granular data sets for all globally listed ETFs, with key metrics. For more information, email: support@firstbridgedata.com

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: Investing , ETFs



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