Core Insights - The rapid increase in ETF strategies is complicating the process of identifying valuable options for investors [1][2] ETF Market Overview - In the first half of the year, exchange-traded funds attracted $540 billion in assets, with projections suggesting the number of ETFs in the US could reach 9,000 by this time next year [2] - The influx of new ETFs is creating challenges for investors to discern which funds are genuinely worthwhile [2] Trends Impacting ETF Investors - Major trends include significant inflows into low-cost funds, while higher-fee products are benefiting a select few early movers [3] - The fee wars may have reached a bottom, indicating a potential stabilization in pricing strategies [4] Performance of Different ETF Categories - Most inflows this year have been directed towards "non-traditional" funds, particularly synthetic income funds that utilize derivatives [5] - Other successful categories include leveraged and inverse ETFs, as well as buffered products, with issuers like First Trust and Innovator generating substantial revenue [5][6] Revenue Dynamics - A small number of expensive funds contribute disproportionately to revenue, with firms like JPMorgan and Toroso Investments leading in the synthetic income segment [7]