Inflows to VOO look set to smash records as observers predict it will soon overtake SPY to become the largest
Vanguard has deposed its rival BlackRock, the world’s largest asset manager, from its position as manager of the second-largest exchange traded fund in the world. In a rare setback for the fund giant, BlackRock’s iShares Core S&P 500 ETF has been overtaken by Vanguard’s equivalent S&P 500 ETF , which had assets of $540.76bn at Friday’s close, according to data from Morningstar, marginally ahead of IVV’s $540.66bn.
“Vanguard is synonymous with index investing, though they offer more than passive funds,” he said. “BlackRock’s iShares has a similar reputation but also a sprawling fund line-up that is many things to many different people. “Vanguard’s laser focus on cheap beta is likely the reason investors look to VOO over IVV.” Todd Rosenbluth, head of research at TMX VettaFi, believed rising retail interest in ETFs was aiding the Pennsylvania powerhouse more than its New York rival.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New titans of Wall Street: how Jane Street rode the ETF wave to ‘obscene’ richesA quirky and opaque New York firm has rapidly expanded to become the most profitable trader of all
Read more »
BlackRock leads opposition to new US limits on bank ownershipA proposal by regulators requires passive investment funds to seek approval when holdings hit 10%
Read more »
Blackrock de-risking, growing Tonopah WestSprott takes 15% position
Read more »
Can BlackRock land private credit’s ‘big whale’ HPS?After years of preparation, the pioneering alternatives firm is on the verge of a deal or IPO
Read more »
Linda Evangelista's son Augustin Pinault, 18, supports her at Canadian Arts and Fashion AwardsThe 59-year-old Canadian supermodel said it 'meant the world to me' to have family with her at the ceremony where Erdem designer Erdem Moralıoğlu presented her with the Vanguard Award
Read more »
Linda Evangelista's son Augustin Pinault, 18, supports her at Canadian Arts and Fashion AwardsThe 59-year-old Canadian supermodel said it 'meant the world to me' to have family with her at the ceremony where Erdem designer Erdem Moralıoğlu presented her with the Vanguard Award
Read more »