Vanguard Nearing State Street as Second-Largest U.S. ETF Firm

ETF Trends

Vanguard is the best-selling U.S. family of exchange traded funds so far this year and continues to gain ground on State Street Global Advisors, the second-largest ETF provider.

Total assets in State Street’s U.S.-listed ETFs totals $311.5 billion, while Vanguard weighs in at $297.8 billion, according to XTF.com.

It’s important to note the State Street figure does not include SPDR Gold Shares (GLD), which holds nearly $38 billion of assets. GLD is technically sponsored by a unit of the World Gold Council, while State Street is the ETF’s marketing agent.

Through the end of July, Vanguard had pulled in net ETF flows of $33.9 billion year to date in the U.S., according to data from BlackRock, which manages the iShares ETFs.

State Street’s YTD inflows at its U.S.-listed ETFs totaled $7.5 billion — but that figure does include GLD. State Street’s inflows would be much higher if GLD is stripped out. The gold ETF saw net outflows of nearly $20 billion so far this year through the end of July. [GLD Battles to Keep Spot Among Largest ETFs]

State Street’s SPDR S&P 500 (SPY) is the largest ETF in the world with about $155.5 billion. It has hauled in about $8.6 billion so far in 2013 as of July 31, according to IndexUniverse data.

BlackRock’s iShares is the largest U.S. ETF provider with assets of $607.5 billion, according to XTF. Through July, it saw net inflows of $20.6 billion so far in 2013.

Overall, the U.S. exchange traded product business stood at roughly $1.5 trillion at the end of July, with year-to-date inflows of $115 billion.

Full disclosure: Tom Lydon’s clients own GLD and SPY.

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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