Slowly but surely, more investors are selecting ETFs, according to a recent study by US-based Cogent Reports.

The report says that there has been a three per cent increase in the number of investors which own an ETF, from 18 per cent in 2016 to 21 per cent now. Out of all the participants which are planning to invest in ETFs within the next three months, 40 per cent would be buying ETFs for the first time.

Although the progression is only slight, more investors include ETFs within their portfolios year after year. A key factor for this? Financial advisors says Cogent.

Over half of individuals which have invested in ETFs work with an advisor. A record high 81 per cent of advisors report selling ETFs this year as more look to expand their use of the product category over the next two years.

Unsurprisingly the big selling point for ETFs, which is influencing investors to consider the products, are the fees. The low cost and transparency make them very attractive as well as strong returns and meeting the investor's needs.

Meredith Rice, vice president at Market Strategies, said: "The most successful ETF providers are conducting outreach directly to investors as well as with advisors, effectively communicating the value that their brand delivers on these critical drivers of consideration for both audiences."