The global exchange-traded funds (ETFs) and exchange-traded products (ETPs) sector registered a record high number of new product launches, total number of ETFs & ETPs listed, year-to-date net inflows and total assets for the January-June 2024 period.

“The global ETFs industry has reached a new milestone with 877 new products listed in the first half of 2024,” according to the research and data provider ETFGI. “This surpasses the previous record of 808 new ETFs listed in the first half of 2021. The first half of the year concluded with a net increase of 624 products after accounting for 253 closures.”

The US accounted for a third of new global ETF launches during the first six months of the year (297), followed closely by Asia Pacific excluding Japan (281). Europe accounted for one in six new launches (147).

The US accounted for more than a third of global ETF closures (91), followed by Asia Pacific excluding Japan (55) and Europe (53).

ETFGI reported: “The Global ETFs industry had 12,420 products, with 24,891 listings, assets of $13.14trn, from 758 providers listed on 80 exchanges in 63 countries at the end of June.”

Year-to-date net inflows were $410.33bn, compared to $162.22bn during January-June 2023, $462.53bn for the first six months of 2022 and $658.86bn in the first six months of 2021.

The ETFGI data showed that the total number of ETFs listed has risen by 56% since the end of 2019 and by 139% over the past decade. Total assets have doubled (+106%) since the end of 2019 and gained 371% over the past decade.

ETFs, or exchange-traded funds, and ETPs, or exchange-trade products, automatically track an index or type of financial asset, and can be bought or sold in real time on a stock market. Many investors put their savings in ETFs because they typically have lower management fees and track overall market performance.