Vanguard's VOO overtakes SPY as largest ETF in the world
Vanguard's S&P 500 ETF (VOO) has overtaken the SPDR S&P 500 ETF Trust (SPY) as the largest ETF in the world. Tidal Financial Group Chief Revenue Officer Gavin Filmore joins Catalysts to discuss this development and its implications for the broader ETF landscape.
Filmore describes it as "a milestone to see these two products at such large AUM [assets under management] levels," emphasizing that SPY "arguably has the best liquidity in the market" and is more suitable for active traders.
He points out that VOO's lower fees make it potentially more attractive for long-term investors: "So if you're a buy-and-hold investor, VOO might be more favorable." However, Filmore maintains that both products are "very healthy."
Addressing YouTuber Kevin Paffrath's recent closure of his ETF (PP), which held approximately $32 million in assets, Filmore acknowledges that "it was a good example of innovation in the market," though he emphasizes that "it comes down to education" for investors considering these types of investment vehicles.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Angel Smith
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