Industry Updates

ETF Wrap: Award-winning roster 2023

ETF Stream Awards 2023, low-fee ETFs dominating inflows and BlackRock’s FIX connectivity made headlines this week

Jamie Gordon

ETF Stream was joined yesterday by ETF issuers, traders and investors to celebrate the industry’s success over the past year. 

After falling short on major awards last year, BlackRock dominated this year’s winners’ circle, claiming ETF issuer of the year and ETF launch of the year, for its fixed maturity iBonds ETFs. 

Elsewhere, DWS claimed ETF of the year with its S&P 500 equal weight ETF, which was among the top inflowing products, as investors looked to avoid over-concentration in US equities. 

Global X, JP Morgan Asset Management, Legal & General Investment Management (LGIM) and Amundi also landed awards across other ETF categories.  

Outside of products, DRW, big xyt, Dillon Eustace and Tradeweb claimed gold versus their peers. 

Low fees equal demand resilience 

In another sign that costs matter, 97.8% of all equity ETF inflows over the past year went into products with fees under 0.30%. 

In equities, products middle ranging total expense ratios (TERs) of 0.09-0.19% claimed 35.5% of the flow. 

However, lower fee products also saw 27.9% of new money, with State Street Global Advisors’ S&P 500 ETF seeing €1.1bn of inflows in a month, after its fees were cut to 0.03%. 

BlackRock FIX connectivity  

Finally, positive news for authorised participants, as ETF Stream revealed BlackRock has unveiled Financial Information eXchange (FIX) connectivity to boost creation-redemption efficiency. 

FIX connectivity enables a direct connection between ETF issuer and AP order management systems, automating primary and secondary markets and reducing operational risk. 

ETF Wrap is a weekly digest of the top stories on ETF Stream

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