ETF Week: Vanguard Hits $1 Trillion

June 28, 2019

The ETF industry seems to have entered into the summer doldrums, with launches slowing somewhat. Closures are continuing at a brisk pace though, with iShares announcing five shutdowns coming in August. Even more interesting, Vanguard crossed the $1 trillion mark for ETF assets under management (AUM), making it only the second U.S. issuer to do so, after BlackRock.

Below is a roundup of the key developments in the ETF industry for the week ending June 28, 2019:

Vanguard Hits $1 Trillion Mark
On June 18, Vanguard crossed the threshold that only one issuer has previously crossed: achieving $1 trillion in ETF AUM. It follows BlackRock’s iShares, which hit $1 trillion back in 2017. (Read: Vanguard Crosses $1 Trillion In ETF Assets)

iShares Announces Closures
BlackRock’s iShares recently announced that five of its ETFs will see their last trading day on Aug. 20. The group of funds includes a smart beta fund, two currency-hedged ETFs and two investment-grade corporate bond funds. iShares has a history of closing funds in August. (Read: iShares Closing 5 ETFs)

‘ROBO’ Creator Behind Health Care Tech ETF
The index provider behind the first robotics ETF is also behind the recent launch of the ROBO Global Healthcare Technology and Innovation ETF (HTEC). The firm’s initial robotics ETF has AUM of more than $1.3 billion. HTEC covers companies that drive technology and innovation in the health care space. (Read: Health Care Tech ETF Debuts)

New ESG ETF Tracks S&P 500-Based Index
DWS has launched a socially responsible ETF that tracks an index that draws its components from the S&P 500 and relies on the S&P DJI ESG ratings to select and weight its holdings. The Xtrackers S&P 500 ESG ETF (SNPE) is the fifth ETF in DWS’ ESG lineup. (Read: ESG ETF Tracks Modified S&P 500 Index)

June 2019 Filings
The month saw a significant number of filings from newcomers, and established issuers like Direxion and ProShares. (Read: June 2019 Filing Roundup)

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