US exchange-traded fund assets topped $10 trillion for the first time in November, according to the latest data from Cerulli Associates.
ETFs — funds that invest in stocks, bonds or other assets and trade on national exchanges — hit $156 billion in inflows in November, surpassing previous monthly inflow records.
This activity is “consistent with the increased activity typically seen toward the end of the year,” Cerulli reported, according to CNBC.
Research from Morningstar pointed to a “Trump bump” that helped U.S. funds — including ETFs and mutual funds — collect $115 billion in November, the highest total since April 2021.
As 2024 draws to a close, here are some of the ETF trends that dominated the year, based on the latest data.
S&P 500 Among Fund Gainers for 2024
Year-to-date, the S&P 500 is up nearly 24% since Monday.
The S&P 500’s rally, driven by the “Magnificent Seven” stocks — Apple, Microsoft, Google parent Alphabet, Amazon.com, Nvidia, Meta Platforms and Tesla — helped account for about half of the index’s gains this year, according to data and analytics firms VettaFi, reports Investor me.
Four of the top 10 ETFs for 2024 by flows track the S&P 500 index, according to Cerulli.
The Vanguard 500 Index Fund ranks No. 1 for inflows since 2024, according to Cerulli, followed by iShares Core S&P 500 ETF, iShares Bitcoin Trust , Invesco QQQ Trust, Vanguard Total Stock Market Index Fund, iShares Core US Aggregate Bond ETF, SPDR Portfolio S&P 500 ETF, Vanguard Total Bond Market Index Fund , Invesco S&P 500 ETF Equal Weight and Vanguard Growth Index Fund.
Malcolm Ethridge, a certified financial planner and founder and managing partner at Capital Area Planning Group, said he often uses S&P 500 ETFs in client portfolios because they provide access to company names that would be in any large-cap growth strategy for significantly reduced costs.
While an actively managed fund might charge 50 or 75 basis points, a passive S&P 500 ETF might charge as little as 10 basis points, he said.
The S&P 500, which has had a record run, could be poised to continue its strong performance, as the index rebalances to reflect current market leaders.
“I think this is a case where SPY [ SPDR S&P 500 ETF Trust] probably outperforming most fund managers in 2025,” Ethridge said.
Alternative ETFs see record growth
Meanwhile, alternative ETFs topped $400 billion in net assets for the first time in November, Cerulli says.
Moreover, the annual asset growth rate for alternative ETFs — at 93% — was the highest among all asset classes.
The majority of the total alternative ETF market share – 80%, or about $325 billion – consists of digital assets, leveraged stocks and derivative income ETFs, according to Cerulli.
Financial advisors reported only 3.6% allocation to alternatives in 2024, although that is expected to increase, Cerulli says. Within the existing alternative allocations, 14.4% is realized using ETFs, the firm found.
Crypto ETFs are ‘here to stay’
In January, bitcoin ETFs began trading on US exchanges.
Now, spot bitcoin ETFs hold more of the digital currency than bitcoin founder Satoshi Nakamoto, notes VettaFi. Despite the “weaker” introduction of spot ethereum ETFs this year, crypto ETFs are “here to stay,” according to VettaFi.
The top five new ETFs by assets in 2024 are all bitcoin ETFs, according to Cerulli, based on data through November.
They include the iShares Bitcoin Trust ETF at No. 1, followed by Fidelity Wise Origin Bitcoin ETF, ARK 21 Shares Bitcoin ETF, Bitwise Bitcoin ETF and Grayscale Bitcoin Mini Trust ETF.
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