Exchange Traded Funds (ETFs):
The New Packaged Product of Choice

Recently Released!!!
Date Published: November 7, 2016
Summary Power Point Deck: 55 Slides
Reference Power Point Deck: 992 Slides

The purpose of this research is to provide readers with a comprehensive understanding of the exchange traded funds (ETFs) market. BlackRock, The Vanguard Group, & State Street Corporation (State Street Global Advisors) dominate the market. Other firms including Invesco PowerShares, WisdomTree Investments, Guggenheim Investment Partners, & ProShares are developing alternative products. Still other firms including The Charles Schwab Corporation, Allianz (PIMCO), & FMR (Fidelity Investments) are challenging the leaders, while other firms, including active management leaders American Funds and T. Rowe Price Group, have thus far eschewed the ETF market. The emerging actively managed exchange traded funds (ETFs) and managed exchange traded funds (ETFs) programs markets are also addressed herewithin. This research is also incorporated into both Tiburon's coverage of registered investment companies and that of index investing.

This research starts by summarizing the key drivers behind the rapid growth in exchange traded funds (ETFs), including ETFs' advantages: 

  • Incremental Lower Expenses
  • Improved Transparency
  • Additional Tax Efficiency
  • Lack of Cash Drag
  • Liquid & Continuously Priced
  • No Redemption or Short-Term Trading Fees
  • Ability to Place Stop-Loss, Market, & Limit Orders
  • Eligibility for Margin Purchases
  • Advantageous Short Sell Rule

This research addresses the three historical phases of the exchange traded funds (ETFs) market, including: 

  • Emergence Phase
  • Rapid Growth Phase
  • Dominance Phase

    This research defines two product markets, including:

    • Passively Managed Exchange Traded Funds (ETFs)
    • Actively Managed Exchange Traded Funds (ETFs)

    This research addresses the three US markets & distribution channels for exchange traded funds (ETFs), including:

  • Direct Channels
  • Financial Advisor Channels
  • Institutional Markets

And this research makes the following future predictions for the exchange traded funds (ETFs) business, including: 

  • Substantial Growth in Exchange Traded Funds (ETFs)
  • Rapid Emergence of Managed Exchange Traded Funds (ETFs) Programs
  • Successful Push into 401K Plans Market
  • Rapid Emergence Outside of the US
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