Market Metrics and Trends

A Look at Monthly Volatility and Equity and Options Volumes

Market Theme

• ETFs have seen massive growth in fund launches over the previous five years.
• The number of actively-managed ETFs now exceeds the count of passively-managed ETFs, with launches of actively-managed ETFs showing no sign of decline. While assets of passively-managed funds eclipse those of actively-managed funds by a factor of 8x, active assets under management have grown at twice the rate of passive assets over the past five years.

Market Metrics

• Volatility Index (VIX): Monthly average 19.90%; +1.8 pp M/M, +3.8 pp Y/Y
• S&P 500 (Index): Monthly average 6,740.89; +0.1% M/M, +13.7% Y/Y
• S&P 500 Sector Performance:
  • Best = Health Care +9.1% M/M / Communication Services +33.8% YTD
  • Worst = Information Technology -4.4% M/M / Real Estate +2.5% YTD
• Equity Average Daily Volume (ADV): Monthly average 18.8 billion shares; -10.5% M/M, +28.7% Y/Y
• Options ADV: Monthly average 65.9 million contracts; -6.8% M/M, +24.0% Y/Y

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