As major market indexes rose in March, so, too, did exchange-traded-fund assets under management.
Monthly data from State Street Global Advisors, released last week, said assets held in U.S. exchange-traded funds rose 7.2% from a month earlier, to $806 billion.
Ten of 12 ETF categories grew in March, according to the unit of State Street Corp. in Boston.
At March 31 there were 863 exchange-traded funds in the United States, managed by 31 companies.
The top three ETF managers collectively accounted for 84% of the U.S.-listed ETF assets, up 0.2 percentage point from a month earlier. BlackRock, which bought the iShares family of funds from Barclays PLC, managed 47.8% of these assets; State Street had a 23.3% share, and Vanguard, 12.9%.
Despite this dominance, other large companies are entering the ETF arena.
Last month, JPMorgan Chase & Co. announced in separate filings with the Securities and Exchange Commission that it plans to introduce a pair of exchange-traded funds.
