Vanguard's total assets under management (AUM) increased more than eightfold in the roughly two decades since 2005, reaching a value of 10.4 trillion U.S. dollars on January 31, 2025. While a truly staggering sum of money, it is still one trillion U.S. dollars less than the AUM held by BlackRock, the world's largest asset manager.

As of January 2025, the Vanguard Group ranked ****** among global fund managers by assets under management (AUM). Rounding out the top *****, Charles Schwab ranked *****, managing fund assets totaling **** trillion U.S. dollars. BlackRock was the ******* fund manager, managing fund assets exceeding ***** trillion U.S. Types of investment funds. Investment funds are an important part of financial planning and investing. There are several different types of investment funds offered by fund managers, each with their own purpose and asset types. Mutual funds pool money from many investors and use that money to purchase a portfolio of stocks, bonds, and other securities. Index funds are a type of mutual fund that tracks a market index, like the S&P 500. Exchange-traded funds (ETFs) are a type of mutual fund, that is continuously traded on a stock exchange. ETFs often track market indexes or sectors. Real estate investment trusts (REITs) provide both retail and institutional investors with exposure to income-generating real estate assets such as office buildings, apartments and hotels, without having to fully invest in an individual property. The benefits of investment funds. The main advantage of investment funds is that they provide instant portfolio diversification. Rather than choosing just a few stocks or bonds, funds allow you to invest in a wide variety of different securities in one purchase. This helps reduce risk, as poor performance of one holding has less impact on the overall fund. Funds also provide access to professional management and research. Managers can take advantage of opportunities and insights that an individual investor may not have the ability to leverage. Finally, funds offer convenience. Investors won't be required to constantly rebalance portfolios. While costs and fees are a consideration, investment funds can be an excellent hands-off way for both retail and institutional investors to benefit from the market while spreading risk over many asset classes and securities.

As of April 29, 2025, Vanguard Total Stock Market ETF was the highest valued exchange-traded fund (ETF) globally, with a market capitalization of over *** trillion U.S. dollars. The market capitalization of an ETF is calculated by multiplying the number of shares issued in the fund by the share price. This ETF is also the ******-largest ETF by assets under management. However, the Vanguard fund is different because shares in the fund are sold as various different products, some of which are structured as ETFs, while others are structured as traditional mutual funds. What are ETFs? ETFs are similar to mutual funds, in that they consist of a pool of investors’ funds which are managed by an independent third party for the purpose of a common financial investment. However, ETFs differ through how shares in the fund are bought and sold through a stock exchange, rather than directly from the fund manager. This provides the advantages of generally lower prices (as the transaction costs are paid by the exchange operator rather than the fund manager), and the possibility of intraday trading (as shares in a traditional mutual fund can only be bought and sold after the close of daily trading). The total assets managed by ETFs globally is almost six times lower than that of mutual funds, although the gap in AUM between ETFs and mutual funds in the United States is much lower, at just over three times less. Who are the largest ETF providers? The ******* provider of ETFs globally is Blackrock, the world’s largest asset management company. As of April 2025, the company had more than ***** trillion U.S. dollars of assets under management in exchange traded funds in the U.S. alone, while Blackrock’s total assets under management across all products reached almost **** trillion U.S. dollars. Rounding out the top ***** providers of ETFs are fellow U.S. asset managers Vanguard and State Street.

As of April 29, 2025, the largest mutual fund in the world was the Vanguard Total Stock Market Index Fund, listed under the ticker VTSAX, which had an astonishing **** trillion U.S. dollars of net assets under management (AUM). However, it should be noted that this investment fund has been divided into multiple distinct products - not all of which are sold as mutual funds. Some shares in the fund are sold as an exchange traded, meaning it could be argued that, strictly speaking, the Vanguard Total Stock Market Index Fund in its totality cannot be classed as a mutual fund. A similar situation holds for several other investment funds included in this statistic. An ETF is a basket of shares (or other financial assets) which generally tracks an underlying index. They are similar to mutual funds, with the fundamental difference that ETFs are listed on stock exchanges, with ETF shares being traded just like regular stock.

The global fund management fee market, valued at $12,340 million in 2025, is poised for substantial growth. While the exact CAGR (Compound Annual Growth Rate) is not provided, considering the robust performance of the financial sector and increasing institutional investments in various fund types (hedge funds, private equity, and venture capital), a conservative estimate of a 7-8% CAGR over the forecast period (2025-2033) seems reasonable. This growth is driven primarily by rising global assets under management (AUM), increasing demand for sophisticated investment strategies across diverse asset classes, and a growing preference for both active and passive fund management approaches. The market is segmented by fund type (active and passive) and application (hedge funds, private equity funds, and venture capital funds), providing diverse revenue streams for major players. Geographic expansion, particularly within rapidly developing economies in Asia-Pacific, continues to contribute significantly to market expansion. While regulatory changes and economic uncertainties pose potential restraints, the overall market outlook remains positive, driven by sustained institutional investor confidence and the continuous innovation within the fund management industry. The competitive landscape is highly consolidated, with leading global players like BlackRock, Vanguard, UBS Group, and Fidelity Investments commanding significant market share. These firms benefit from economies of scale, robust technological infrastructure, and strong brand recognition. However, smaller, specialized firms are also thriving by catering to niche investment needs and offering innovative strategies. This leads to a dynamic market where both established giants and emerging players compete effectively. This competitive environment fosters innovation, efficiency, and improved service offerings for investors globally. The continued evolution of technology, including the growing adoption of artificial intelligence and machine learning in investment decision-making, is expected to further shape market dynamics in the coming years.

As of April 16, 2025, Vanguard Intermediate-Term Corporate Bond Index Fund ETF (VCIT), was the biggest corporate bond exchange-traded fund (ETF) worldwide, with assets under management (AuM) worth over 50 billion U.S. dollars. The second-largest corporate bond ETF was Vanguard Short-Term Corporate Bond Index Fund ETF (VCSH), with AuMs worth approximately 34 billion U.S. dollars.

The fixed income asset management market is experiencing robust growth, driven by increasing institutional and individual investor demand for diversified portfolios and stable returns. While precise market size figures for 2025 are not provided, considering the global nature of the market and the presence of major players like Vanguard, PIMCO, and Fidelity, a reasonable estimate for the 2025 market size would be in the range of $15 trillion to $20 trillion USD. This reflects the substantial assets under management (AUM) held by these firms and the overall size of the global fixed income market. A Compound Annual Growth Rate (CAGR) of 7-8% is plausible, considering historical growth trends and projections of continued interest in fixed-income products, particularly amidst economic uncertainties and inflationary pressures. This growth is further fueled by the increasing adoption of technology in portfolio management, allowing for greater efficiency and sophistication. The market is segmented into enterprise and individual investors, with the former holding a larger share due to higher investment capacities. Within the asset class, Core Fixed Income remains dominant, but Alternative Credit strategies are experiencing substantial growth driven by higher yields. Geographic distribution is largely concentrated in North America and Europe, although Asia-Pacific is exhibiting significant growth potential due to rising middle class and increasing wealth management. While regulatory changes and interest rate fluctuations present some constraints, overall, the long-term outlook for the fixed income asset management market remains optimistic. Continued innovation in investment strategies and the increasing adoption of technology will be crucial drivers of future growth. The dominance of large players, however, suggests that smaller firms might face significant challenges in competing for market share. A focus on niche strategies and superior risk management will be key to success in this competitive landscape.

The largest issuers of Exchange Traded Funds (ETFs) in the United States, as of April 2025, was BlackRock, with a market share of over ** percent, based on assets under management. Vanguard and State Street followed, with market shares of ** and ** percent, respectively. ETFs resemble mutual funds, but are traded on the stock exchange. The net assets of U.S.-based ETFs have steadily increased over the last two years.

The number of exchange-traded funds (ETFs) in the United States has steadily increased; Starting with *** ETFs in 2003, this amount has grown to a total of ***** ETFs as of 2024. The value of assets under management (AUM) allocated to ETFs in the United States has experienced a sharp increase. As of 2023, the total AUM of ETFs amounted to approximately ***** trillion U.S. dollars, increasing from *** billion U.S. dollars in 2003. What is an ETF? An ETF is a pooled financial product that can be bought and sold on the stock market by retail and institutional investors. ETFs are structured to track the performance of underlying securities. This may range from tracking a singular underlying commodity to a diverse assortment of securities. Some of the largest ETF providers by market share in the United States as of 2025 included BlackRock and Vanguard, each accounting for approximately ********* or more of the U.S. market. Types of ETFs Broad-based domestic equity, global equity, and bond ETFs have the highest issuance rates of ETFs in the United States. A broad-based index sets a benchmark to track the performance of a group of underlying securities. A popular example includes the evaluated performance difference between the S&P 500 ESG and S&P 500 indexes.