AIM 01 Exchange-traded product (ETP) market overview

ETPs have a range of product structures and asset categories. This section provides a broad overview of the exchange-traded product market in the US explaining their origin, categorizations, and rapid growth.

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• Required readings​

  • Investment Company Institute (ICI) ici.org (tour website)

    • ICI 2024 Five takeaways from the 2024 fact book

    • ICI 2024 Investment Company Fact Book (read Ch. 4; skim remaining chapters)

  • Morningstar 2023 U.S. Annual fee study​

  • Financial Times 2024 Fee pressure intensifies in the U.S. ETF market

  • FactSet 20240201 ETF investors say "No thanks" to fee hikes

  • IOSCO Principles for exchange-traded funds June 2013 (skim)

  • Whaley 2024 On the birth of the ETF industry 

  • Whaley 2024 ETP trading costs

    • ​ETP trading cost support file.xlsx

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• Lecture notes

  • Slides

    • ​Support files:

      • AIM ETF 20231229 report generator.xlsx​