Vanguard Group has ushered in a new world order in the fixed-income exchange-traded fund arena.
The Vanguard Total Bond Market ETF , with assets of roughly US$83.8 billion, has surpassed the US$83.2 billion iShares Core US Aggregate Bond ETF to become the world’s biggest bond ETF, Bloomberg data show.
“A down market is Vanguard’s Briar Patch. This is when their products climb categories the fastest, since asset growth can only come from flows and BND is an inflow machine,” said Eric Balchunas, senior ETF analyst at Bloomberg Intelligence. “This is also a result of the great cost migration that Vanguard has ushered in.”
“Fixed income ETFs have experienced enormous growth since iShares introduced them 20 years ago and are now fundamental to how investors of all types access and trade the fixed income markets,” a BlackRock spokesperson wrote in an email. “Despite the most challenging fixed-income environment in many decades, iShares is leading the industry in fixed-income ETF inflows with over US$62 billion so far this year, more than twice the nearest competitor.
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