The rapid rise of the ETF industry over the past two decades has been nothing short of astounding. Since the launch of the SPDR S&P 500 ETF (SPY) during 1993, more than 1,600 ETFs have hit the market, covering a broad range of assets and strategies.
The value of assets being managed by the ETF industry has expanded nearly 2,000% since 2001, eclipsing the growth of the mutual fund industry over the same period (+120% AUM). That said, the size of the ETF industry is still relatively small compared to the mutual fund industry. Mutual funds manage a combined $15.9...
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