Exchange-traded fund assets grew by $144 billion, or 7.4%, in the year ended Sept. 30, Broadridge Financial Solutions reported Thursday.
During the same period, long-term mutual fund assets from third-party distributors declined by $156 billion, or 2%.
ETF assets across institutional and retail channels reached $2.1 trillion, while those of long-term mutual funds rose to $7.2 trillion.
Broadridge reported that retail channels, representing 63% of all ETF assets, drove the growth over the past year to Sept. 30, increasing by $150 billion, while institutional channels decreased by $6 billion.
RIAs led all retail channels, adding $46 billion in ETF assets. Wirehouses followed with $45 billion, and independent broker-dealers with $41 billion.
Over this period, long-term funds from retail channels were down by $199 billion, getting a boost only from the RIA channel, which added $29 billion. Assets from the institutional channels were up $43 billion.