ETF Issuer Power Rankings 2024: Amundi and SSGA Surge as Active ETFs Take the Spotlight
24 FEB, 2025
By Jose Luis Palmer from RankiaPro Europe
The latest ETF Issuer Power Rankings 2024, produced by ETF Stream in partnership with ETF Book, highlights a year of strong growth and shifting dynamics in the European ETF landscape. Amundi and State Street Global Advisors (SSGA) made significant strides, climbing into the top five ETF issuers, while DWS retained its top position following a surge in inflows. The report, covering a market now worth $2.2 trillion, also marks a breakout moment for active ETFs, with issuers expanding their presence in the segment.
Amundi and SSGA Climb the Rankings
The rankings, based on four key metrics—asset gathering, revenue, activity, and theme presence—showed Amundi jumping to third place after inflows more than doubled from $12.1 billion in 2023 to $30.4 billion in 2024. The firm was among the top three ETF issuers in multiple asset categories, despite outflows of $805 million in thematic ETFs.
SSGA also surged, climbing from 13th place in 2023 to break into the top five. The U.S. asset manager nearly quadrupled its annual inflows to $26.9 billion, while more than doubling the number of new ETF launches.
Meanwhile, DWS maintained its leadership position, recording $39 billion in inflows, up from $22.5 billion in 2023. A significant portion of these inflows went into higher-fee, non-core strategies, including the Xtrackers S&P 500 Equal Weight UCITS ETF (XDEW).
Active ETFs Gain Momentum as LGIM and Ossiam Struggle
The active ETF segment took center stage in 2024, with JP Morgan Asset Management dominating the space, capturing over 56% of the $55.5 billion active ETF market. The growing demand for active strategies led to new entrants such as Janus Henderson, Robeco, and American Century Investments, with firms like Schroders, Nordea, and Dimensional Fund Advisors expected to follow suit.
However, not all issuers experienced positive momentum. Legal & General Investment Management (LGIM) and Ossiam both fell over 10 positions year-on-year, as both firms scaled back new product launches and saw outflows exceeding $2 billion.
Fund selectors often favour a select few issuers with established brands and operating at considerable scale. The ETF Issuer Power Rankings is designed to showcase the dynamic nature of Europe’s ETF market and the asset managers delivering timely product innovation.
Jamie Gordon, editor of ETF Stream
European ETFs have grown significantly, with increases in assets, new ETF issuers entering the market, product launches and increasing adoption by a diverse base of buy-side customers. In response to this expansion, ETF issuers must constantly evolve, specialise and bring their best capabilities to the fore.
The ETF Issuer Power Rankings is a useful metric for the buy-side community in the ever-evolving European ETF market.
With European ETFs continuing to expand in assets, new issuers, and product launches, competition among ETF providers is expected to remain fierce, especially as active ETFs gain traction in the region.
