September 2024 was a blockbuster month for the U.S. ETF business, with 126 new listings, in response to CFRA’s FUNDynamix ETF database.
Fastened-income ETFs accounted for 62 of those listings and are sometimes launched concurrently by issuers as a household of merchandise. One instance of this was State Road’s launch of 14 goal maturity company and municipal bond ETFs, which maintain bonds that mature in particular calendar years. The goal maturity bond ETF house is giant, with $54 billion in property as of September 30, 2024.
The house is dominated by two issuers: Invesco (with its Bulletshares model, which it acquired when it purchased Guggenheim’s ETF enterprise in 2017) and Blackrock (with its iBonds model). The class of goal maturity bond ETFs took in nearly $13 billion in web flows via the primary three quarters of 2024. State Road will compete for a slice of that rising pie by differentiating its merchandise as actively managed.
One other issuer that launched a ‘household’ of fixed-income ETFs was Stone Ridge, a brand new entrant to the ETF business. It launched a sequence of 28 ETFs that maintain authorities securities and are designed to pay month-to-month distributions till a particular date.
ETFs that use derivatives or undertake quant methods are additionally rising in quantity. There have been 14 leveraged/inverse ETFs launched within the month by AXS, GraniteShares and REX Shares. Ten outlined end result (buffer) ETFs had been additionally launched within the month.
The whole record of September ETF launches within the U.S. is offered under: