ETFs & Mutual Funds
Big Three’s Grip on $6.7 Trillion ETF Market Slips for a Sixth Year
- Vanguard, BlackRock, State Street’s combined share has slipped
- ‘Deep-pocketed’ newcomers shaking up status quo: Balchunas
Blackrock headquarters in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
The three heavyweights sitting at the top of the $6.7 trillion exchange-traded fund industry are losing their hold on the market in a slow but steady sea change.
While Vanguard Group Inc., BlackRock Inc. and State Street Global Advisors still command about 79% of all US ETF assets, their combined market share has slipped for six straight years, Bloomberg data show. Their slice was as high as 91% in 2006.