The number of exchanged-traded funds and exchange-traded notes has rocketed above 1,100 as more than 40 companies have gotten in on the action. Yet just three firms dominate the industry.
Blackrock, State Street and Vanguard control 83% of the market, according to SmartMoney. Some analysts worry that’s a formula for high fees, even though fees have been coming down.
Soon it may be a moot point, as several other big asset management firms, including T. Rowe Price, have announced plans to introduce ETFs this year.