Mutual fund and ETF providers in the U.S. - statistics & facts

Mutual funds and exchange traded funds (ETFs) are types of open-end, professionally managed funds where investors’ money is pooled together for the purpose of a common financial investment. "Open-end” means investors are able to purchase or redeem a “share” of the fund at any time. There are over 131,000 regulated open-end funds worldwide, managing total financial assets amounting to a staggering 71 trillion U.S. dollars. While Europe is home to the highest number of investment funds, the United States houses the largest share of investment funds’ assets under management.

What is the difference between mutual funds and ETFs?

The core difference between mutual funds and ETFs is that shares in an ETF are traded open on stock markets (like shares in a company), while mutual funds only process transactions at the close of business each day. This makes ETFs typically cheaper, as buying and selling is handled by the exchange, not the investment company. Despite this, the number of mutual funds in the U.S. is over three times greater than the number of ETFs.

Active vs. passive funds

Further confusing matters is the difference between passively and actively managed funds. Passively managed funds generally replicate the assets contained within a stock market index (for example,companies on the S&P 500 index), with the goal of tracking the performance of that index. Conversely, actively managed funds have a dedicated human manager tasked with generating the best possible return. This makes actively managed funds more expensive; consequentially passive management is well-suited to ETFs. However, both mutual funds and ETFs can be actively or passively managed, with the share of passively managed funds doubling over the last decade.

Who are the largest U.S. providers of investment funds?

Of the numerous investment managers in the U.S., five are generally considered the most important: BlackRock, Vanguard, Fidelity, State Street, and Charles Schwab. Blackrock is the largest asset manager in the world, and through its iShares brand it is the leading provider of ETFs in the U.S. , followed by Vanguard and State Street. By contrast, Fidelity and Charles Schwab place more emphasis on their actively managed mutual funds. The largest investment fund in the United States – and the world - is the Vanguard Total Stock Market Index Fund, with over one trillion U.S. dollars of assets under management. This fund is a passive fund divided into multiple products, meaning shares in the fund are available as both an ETF and mutual fund.

This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.

Number of investment funds in the United States: 16,150

Net assets of investment funds in the United States: 34.2tr USD

Assets under management of BlackRock, the largest U.S. investment management company: 10.01tr USD

Editor’s Picks Current statistics on this topic

Number of exchange traded funds (ETFs) in the United States from 2003 to 2021

Investment Funds

Number of ETFs in the U.S. 2003-2021

Leading mutual fund groups globally as of March 2022, by assets under management (in trillion U.S. dollars)

Investment Funds

Leading mutual fund groups globally by assets 2022

Leading mutual funds globally as of November 24, 2022, by net assets under management (in billion U.S. dollars)

Investment Funds

Largest mutual funds worldwide in November 2022, by net assets

Recommended statistics

Overview

Premium Statistic Number of investment funds in the U.S. 2000-2021, by type
Number of investment funds in the U.S. 2000-2021, by type
Number of investment funds in the United States from 2000 to 2021, by type
Basic Statistic Total net assets of US-based mutual funds worldwide 1998-2021
Total net assets of US-based mutual funds worldwide 1998-2021
Total net assets of US-registered mutual funds worldwide from 1998 to 2021 (in trillion U.S. dollars)
Basic Statistic Total net assets of ETFs in the U.S. 2002-2021
Total net assets of ETFs in the U.S. 2002-2021
Total net asset under management (AUM) of Exchange Traded Funds (ETFs) in the United States from 2002 to 2021 (in billion U.S. dollars)
Premium Statistic Leading mutual fund groups globally by assets 2022
Leading mutual fund groups globally by assets 2022
Leading mutual fund groups globally as of March 2022, by assets under management (in trillion U.S. dollars)
Premium Statistic Leading providers of ETFs in the U.S. 2022, by assets
Leading providers of ETFs in the U.S. 2022, by assets
Largest providers of Exchange Traded Funds (ETFs) in the United States as of July 2022, by assets under management (in billion U.S. dollars)
Premium Statistic Largest mutual funds worldwide in November 2022, by net assets
Largest mutual funds worldwide in November 2022, by net assets
Leading mutual funds globally as of November 24, 2022, by net assets under management (in billion U.S. dollars)
Premium Statistic Largest ETFs in the U.S. in September 2022, by assets under management
Largest ETFs in the U.S. in September 2022, by assets under management
Leading exchange traded funds (ETFs) in the United States as of September 6, 2022, by assets under management (in billion U.S. dollars)
Premium Statistic Net fund flows of leading U.S listed ETFs 2022, by company
Net fund flows of leading U.S listed ETFs 2022, by company
Net fund flows of leading U.S listed ETFs in 2022, by company (in million U.S. dollars)

Assets of leading providers

Premium Statistic Total assets under management of BlackRock 2008-2022
Total assets under management of BlackRock 2008-2022
Total assets under management (AUM) of BlackRock from 2008 to 2nd quarter 2022 (in trillion U.S. dollars)
Basic Statistic Assets under management of Vanguard 1975-2022
Assets under management of Vanguard 1975-2022
Assets under management (AUM) of Vanguard in 1975, 1990, 2005 and 2022 (in billion U.S. dollars)
Premium Statistic Assets under management of Fidelity by type 2022
Assets under management of Fidelity by type 2022
Assets under management (AUM) of Fidelity from 1st quarter 2021 to 2nd quarter 2022, by type (in trillion U.S. dollars)
Basic Statistic Total assets under management of State Street 2010-2022
Total assets under management of State Street 2010-2022
Total assets under management (AUM) of State Street Corporation from 4th quarter 2010 to 3rd quarter 2022 (in trillion U.S. dollars)
Premium Statistic Total client assets managed Charles Schwab 2013-2022
Total client assets managed Charles Schwab 2013-2022
Total client assets under management (AUM) of Charles Schwab Corporation from 4th quarter 2013 to 3rd quarter 2022 (in trillion U.S. dollars)

Asset class distribution

Premium Statistic Expense ratios of mutual fund investors in the U.S. 2000-2021, by fund type
Expense ratios of mutual fund investors in the U.S. 2000-2021, by fund type
Expenses incurred by mutual fund investors in the United States from 2000 to 2021, by fund type
Basic Statistic Distribution of investment fund assets in the U.S. 2021, by asset class
Distribution of investment fund assets in the U.S. 2021, by asset class
Distribution of investment fund assets under management (AUM) in the United States in 2021, by asset class
Premium Statistic Assets under management of BlackRock 2014-2021, by asset class
Assets under management of BlackRock 2014-2021, by asset class
Assets under management (AUM) of BlackRock from 2014 to 2021, by asset class (in billion U.S. dollars)
Basic Statistic Discretionary assets under management of Fidelity by asset class 2021
Discretionary assets under management of Fidelity by asset class 2021
Discretionary assets under management (AUM) of Fidelity in the second quarter of 2021, by asset class (in billion U.S. dollars)
Premium Statistic Assets under management of State Street by asset class 2019-2021
Assets under management of State Street by asset class 2019-2021
Assets under management (AUM) of State Street Corporation from 2019 to 2021, by asset class (in billion U.S. dollars)
Premium Statistic Distribution of Charles Schwab's AUM by asset class 2016-2021
Distribution of Charles Schwab's AUM by asset class 2016-2021
Assets under management (AUM) of Charles Schwab Corporation from 2016 to 2021, by asset class (in trillion U.S. dollars)
Premium Statistic Net industry funds flow for investment funds in the U.S.2021, by asset class
Net industry funds flow for investment funds in the U.S.2021, by asset class
Industry net funds flow for investment funds in the United States in the 12 months to June 30, 2020, by asset class

Product distribution

Premium Statistic Active vs passive investment funds in the U.S. 2011 and 2021, by type
Active vs passive investment funds in the U.S. 2011 and 2021, by type
Distribution of active and passive investment funds in the United States in 2011 and 2021, by type
Premium Statistic Assets under management of BlackRock 2021, by investment style and client type
Assets under management of BlackRock 2021, by investment style and client type
Assets under management (AUM) of BlackRock in 2021, by investment style and client type (in billion U.S. dollars)
Premium Statistic Assets under management share of State Street by investment approach 2021
Assets under management share of State Street by investment approach 2021
Distribution of assets under management (AUM) of State Street Corporation in 2021, by investment approach (in billion U.S. dollars)
Premium Statistic Distribution of Charles Schwab's AUM by business 2016-2021
Distribution of Charles Schwab's AUM by business 2016-2021
Share of assets under management (AUM) of Charles Schwab Corporation from 2016 to 2021, by business (in trillion U.S. dollars)
Premium Statistic Number of investment funds in the U.S. 2000-2021, by type
Number of investment funds in the U.S. 2000-2021, by type
Number of investment funds in the United States from 2000 to 2021, by type

Largest funds

Premium Statistic Largest BlackRock equity ETFs worldwide in December 2022, by net assets
Largest BlackRock equity ETFs worldwide in December 2022, by net assets
Leading equity exchange traded funds (ETFs) owned by BlackRock globally as of December 31, 2022, by net assets under management (in billion U.S. dollars)
Premium Statistic Largest Vanguard investment funds worldwide in November 2022, by net assets
Largest Vanguard investment funds worldwide in November 2022, by net assets
Leading investment funds owned by Vanguard globally as of November 24, 2022, by net assets under management (in billion U.S. dollars)
Premium Statistic Largest Fidelity investment funds worldwide in September 2022, by net assets
Largest Fidelity investment funds worldwide in September 2022, by net assets
Leading investment funds owned by Fidelity Investments globally as of September 8, 2022, by net assets under management (in billion U.S. dollars)
Premium Statistic Largest State Street investment funds worldwide in November 2022, by net assets
Largest State Street investment funds worldwide in November 2022, by net assets
Leading investment funds owned by State Street Global Advisors globally as of November 2, 2022, by net assets under management (in billion U.S. dollars)
Premium Statistic Largest Charles Schwab investment funds worldwide in October 2022, by net assets
Largest Charles Schwab investment funds worldwide in October 2022, by net assets
Leading investment funds owned by Charles Schwab globally as of October 31, 2022, by net assets under management (in billion U.S. dollars)

Fastest growing funds

Basic Statistic Fastest growing BlackRock funds worldwide in August 2022, by one year return
Fastest growing BlackRock funds worldwide in August 2022, by one year return
Investment funds owned by BlackRock globally which grew the fastest over the year through August 31, 2022, by one year return
Premium Statistic Fastest growing Vanguard funds worldwide in January 2023, by one year return
Fastest growing Vanguard funds worldwide in January 2023, by one year return
Investment funds owned by Vanguard globally which grew the fastest over the year through January 16, 2023, by one year return
Premium Statistic Fastest growing Fidelity funds worldwide in October 2021, by one year return
Fastest growing Fidelity funds worldwide in October 2021, by one year return
Investment funds owned by Fidelity Investments globally which grew the fastest over the year through October 1, 2021, by one year return
Premium Statistic Fastest growing State Street funds worldwide in October 2021, by one year return
Fastest growing State Street funds worldwide in October 2021, by one year return
Investment funds owned by State Street Global Advisors which grew the fastest over the year through October 1, 2021, by one year return
Premium Statistic Fastest growing Charles Schwab funds worldwide in September 2021, by one year return
Fastest growing Charles Schwab funds worldwide in September 2021, by one year return
Investment funds owned by Charles Schwab globally which grew the fastest over the year through September 1, 2021, by one year return

Consumer behavior

Basic Statistic Net new cash flow to mutual funds in the U.S. 2000-2021
Net new cash flow to mutual funds in the U.S. 2000-2021
Net new cash flow to mutual funds in the United States from 2000 to 2021 (in billion U.S. dollars)
Basic Statistic Net issuance of ETF shares in the U.S. 2006-2021
Net issuance of ETF shares in the U.S. 2006-2021
Net issuance of Exchange Traded Fund (ETF) shares in the United States from 2006 to 2021 (in billion U.S. dollars)
Premium Statistic Household preference for banks or regulated funds in U.S., Japan, and the EU 2021
Household preference for banks or regulated funds in U.S., Japan, and the EU 2021
Share of household wealth that is held in bank deposits and currency versus regulated funds in 2021, by country
Basic Statistic Share of households owning mutual funds in the U.S. 1980-2021
Share of households owning mutual funds in the U.S. 1980-2021
Share of households owning mutual funds in the United States from 1980 to 2021
Premium Statistic Share of households owning mutual funds in the U.S. 2021, by age of household head
Share of households owning mutual funds in the U.S. 2021, by age of household head
Share of households owning mutual funds in the United States in 2021, by age of household head
Premium Statistic Share of households investing in mutual funds in the U.S. 2021, by household income
Share of households investing in mutual funds in the U.S. 2021, by household income
Share of households owning mutual funds in the United States in 2021, by household income

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