Which company is the largest ETF issuer?

BlackRock is the largest ETF issuer. It has $2.84 trillion in assets under management as of June 2024.

What's the largest ETF?

The largest ETF is the SPDR S&P 500 ETF Trust. It has $541 billion in total assets as of June 2024.

The Largest ETF Issuers | The Motley Fool

BlackRock, Vanguard, and State Street are the largest ETF issuers in the United States.

By Lyle Daly – Updated Jan 15, 2026 at 6:14 PM EST | Fact-checked by Parker Hicks

Key Points

BlackRock leads in ETF assets with $5.1 trillion, heavily dominated by iShares S&P 500 ETF.
Vanguard showcases strong fund inflow and low fees, highlighted by its S&P 500 ETF.
State Street, known for SPDR ETFs, manages $1.69 trillion, including the popular SPDR S&P 500 ETF Trust.

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Exchange-traded funds, or ETFs, are among the most popular investment vehicles. Since their introduction in the 1990s, they've grown rapidly, and the total ETF market is now worth over $13 trillion. Most of that money is concentrated with the largest ETF issuers, which dominate the market.

BlackRock (BLK +2.65%) is the leader for ETFs, but Vanguard isn't far behind with its low-cost index funds. Keep reading to see the largest ETF issuers and how much they have in assets under management (AUM) as of January 2026.

Editors note: Some data will be from 2025 as not all facts and numbers will have updated as of January 2026. Any data not updated by the individual companies and firms will be marked as such and will be updated as soon as possible.

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NYSEMKT: XOEF

iShares Trust - iShares S&P 500 Ex S&P 100 ETF

Today's Change

(1.31%) $0.36

Current Price

$28.24

Key Data Points

Day's Range

$28.06 - $28.30

52wk Range

$24.42 - $28.30

Volume

558

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Brand: iShares
AUM: $5.1 trillion
Number of ETFs: 468
Average expense ratio: 0.05%
3-month fund flow (2025): $43.89 billion

BlackRock not only has the most AUM, but it also issues the most ETFs by a wide margin. Its largest offering is its iShares S&P 500 ETF (IVV +0.35%), which has more than $772 billion in total assets and is one of the better long-term ETFs. While many issuers have a balance between ETFs and mutual funds, the latter make up only a small portion of BlackRock's AUM.

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NYSE: STT

State Street

Today's Change

(2.49%) $3.53

Current Price

$145.43

Key Data Points

Market Cap

$41B

Day's Range

$143.79 - $148.99

52wk Range

$79.56 - $148.99

Volume

3.2M

Avg Vol

2.1M

Dividend Yield

2.26%

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Brand: SPDR
AUM: $1.69 trillion
Number of ETFs: 174
Average expense ratio: 0.28%
3-month fund flow (2025): $16.42 billion

Known for its SPDR brand, State Street (STT +2.49%) offers a wide range of ETFs for a reasonable cost. It issues the SPDR S&P 500 ETF Trust (SPY +1.22%), which is the largest ETF by market cap.

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NYSE: IVZ

Invesco

Today's Change

(3.33%) $0.80

Current Price

$24.81

Key Data Points

Market Cap

$11B

Day's Range

$24.30 - $25.09

52wk Range

$12.27 - $29.61

Volume

7.7M

Avg Vol

5.9M

Gross Margin

64.94%

Dividend Yield

3.39%

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NYSE: SCHW

Charles Schwab

Today's Change

(-0.37%) $-0.34

Current Price

$92.28

Key Data Points

Market Cap

$160B

Day's Range

$90.56 - $93.93

52wk Range

$73.76 - $107.50

Volume

20M

Avg Vol

11M

Gross Margin

84.89%

Dividend Yield

1.22%

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NYSE: JPM

JPMorgan Chase

Today's Change

(0.23%) $0.72

Current Price

$310.67

Key Data Points

Market Cap

$837B

Day's Range

$310.12 - $314.92

52wk Range

$226.34 - $337.25

Volume

483K

Avg Vol

11M

Dividend Yield

1.90%

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Brand: JPMorgan Chase
AUM: $282.29 billion
Number of ETFs: 75
Average expense ratio: 0.32%
3-month fund flow (2025): $10.83 billion

JPMorgan Chase (JPM +0.23%) is the largest U.S. bank. Its investment arm has traditionally focused on financial advisor services, but it's also one of the top ETF issuers. Its most popular ETF is the JPMorgan Equity Premium Income ETF (JEPI +0.35%), an actively managed fund that follows a derivative income strategy.

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NYSE: WT

WisdomTree

Today's Change

(6.08%) $1.00

Current Price

$17.46

Key Data Points

Market Cap

$2.5B

Day's Range

$16.59 - $17.50

52wk Range

$8.02 - $17.86

Volume

5.1M

Avg Vol

3.8M

Gross Margin

77.64%

Dividend Yield

0.69%

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Brand: WisdomTree
AUM: $90.65 billion
Number of ETFs: 85
Average expense ratio: 0.46%
3-month fund flow (2025): $1.32 billion

WisdomTree (WT +6.08%) rounds out the top 10, although that might not last -- it's outside the top 20 in terms of three-month fund flow. Unlike the rest of the ETF issuers on this list, its biggest ETF isn't an equity fund but a bond fund: the WisdomTree Floating Rate Treasury Fund (USFR +0.00%).

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FAQs

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About the Author

Lyle Daly is a contributing Motley Fool stock market analyst covering information technology and cryptocurrency. Lyle has been a contributor at the financial services company since 2018. His work has been featured on USA Today, Yahoo Finance, MSN, Fox Business, and Nasdaq. Before joining The Motley Fool, he wrote for financial brands including Intuit.

TMFLyleDaly

@LyleDaly

Charles Schwab is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Lyle Daly has positions in Invesco QQQ Trust and Schwab U.S. Dividend Equity ETF. The Motley Fool has positions in and recommends JPMorgan Chase, Vanguard S&P 500 ETF, and iShares S&P 500 ETF. The Motley Fool recommends BlackRock, Charles Schwab, and WisdomTree and recommends the following options: short March 2026 $100 calls on Charles Schwab. The Motley Fool has a disclosure policy.

The Largest ETF Issuers

BlackRock, Vanguard, and State Street are the largest ETF issuers in the United States.

Key Points

Key Data Points

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FAQs

About the Author

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Stocks Mentioned

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FAQs

Which company is the largest ETF issuer?

What's the largest ETF?

Largest ETF Issuers

1. BlackRock

6. Charles Schwab

Takeaways for investors

Sources

Key Data Points

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2. Vanguard

3. State Street

4. First Trust

5. Invesco

7. JPMorgan Chase

8. Dimensional

9. VanEck

10. WisdomTree

Key Data Points