投资者称，这些是Top ETF提供商和基准

Global assets held by ETFs pierced the $7 trillion barrier in September 2020, according to the consultancy and research firm ETFGI.¹The year proved to be another banner one for the funds despite the Covid-19 pandemic – and in part due to aggressive stimulus packages pushed forward by policymakers around the world to dampen the effects the virus had on economies. Among U.S.-listed ETFs alone, 2020 inflows shot up 55% from the $326.3 billion recorded in 2019, according to ETF.com.²

“Post-March and April [2020], we put money into ETFs because we wanted to focus on a specific index or ETF. We believed that we would see a beta rally as the market in general came back up, so we were able to participate. We put money into a few active, high-conviction managers that we thought would bounce back, but a lot of the money that we invested into equities went to ETFs,” said the CIO of a foundation interviewed as part of a new global survey,管理2021年的市场波动：2020年的机构投资者 - 以及他们学到的内容。亚博赞助欧冠

除其他结果之外，该调查显示为什么投资者选择一个ETF，以及他们更喜欢的ETF提供者。在2020年第四季度，机构投资者对保险公司，捐赠，家庭办公室，基金会，养老金和资产管理公司进行了对766个机构投资决策者的调查。调查的时间意味着参与者能够反思他们在期间使用的ETF亚博赞助欧冠今年早期的挥发性增加。

Among the more interesting results to emerge from the Institutional Investor survey, three stand out, namely:

• ETF的基准指数是在ETF中选择的第二个最重要的贡献者，根据53％^3.of respondents, far outpacing transaction costs and management fees, among others.
• MSCI，S＆P和FTSE Russell是所有调查受访者中股票中最常用的基准，并且 - 钻取比基于因子和可持续投资策略更远的钻井。S＆P，FTSE Russell和Bloomberg是所有调查受访者的固定收入中的首选基准指标。“投资者越来越多地利用其资产分配过程中的指数产品，以针对各国，部门或因素的特定接触，增加了对ESG和气候变化的任何意见，”股权兼公平负责人拉曼·艾尔·亚拉马兰说MSCI美洲和EMI的解决方案研究。
• 近7个（69％）^4.respondents said portfolio construction is the value-added service from ETF providers that is found to be most useful. Asked to identify their ETF provider of choice, survey respondents named BlackRock/iShares as the top choice globally (24%).^5.州街/斯普尔斯/斯普尔斯特排名第二，其次，12％，其次是Invesco和Vanguard，每人9％和智慧树和重症，每次5％。^6.

其他对ETF选择的影响

Not surprisingly, AUM, liquidity, and trading volume are the most important considerations in selecting an ETF, according to 69%^7.调查受访者。除了专注于基准指数还注意的是，有人值得注意的特定ETF的决策过程包括品牌和市场地位（48％），历史表现（46）％和ETF提供商的增值服务（45％）。^8.此外，在评估ETF时，调查受访者可能会使用电子市场数据和交易平台（64％）;资产管理人员提供的工具（62％）;和经纪商分析工具（60％）。^9.

除了投资组合建设，60％^10.调查受访者表示，他们对ETF提供商的期望包括客户服务团队，市场洞察和教育。接下来的期望是投资组合咨询解决方案（如资金比较，指数和ETF深潜力，产品专业知识，56％）和投资组合建模和贸易工具（51％）。

下载“偏好大，液体ETF链接到最佳基准，”第四章Managing Market Volatility in 2021: What institutional investors did in 2020 – and what they learned。

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¹_{ETFGI.com, as of Sept. 9, 2020.}

²_{etf.com，截至2021年1月4日。}

^3._{Of 762 respondents.}

^4._{Of 762 respondents.}

^5._{Of 762 respondents.}

^6._{一个额外的19个公司——没有一个获得了share of 5% or more – received votes from survey respondents. Ranking is not based primarily on ETF provider, asset manager, or investment advisor client evaluations. Ranking is based on 762 responses to the question: “Which firm is your ETF provider of choice?” in this global survey of institutional investors conducted by Institutional Investor. Ranking is not representative of any one client’s experience. No asset manager, advisor, asset owner, or ETF provider paid a fee or was paid a fee to participate in the survey. The ranking of any ETF provider is not indicative of the future performance of any ETF, ETF provider, asset manager, or investment advisor.}

^7._{Of 762 respondents asked to choose “all that apply” among seven possible answers.}

^8._{Of 762 respondents asked to choose “all that apply” among seven possible answers.}

^9._{Of 762 respondents.}

^10._{Of 762 respondents.}

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FOR U.S. INSTITUTIONAL INVESTOR USE ONLY.

Carefully consider the Funds' investment objectives, risk factors, and charges and expenses before investing. This and other information can be found in the Funds' prospectuses or, if available, the summary prospectuses which may be obtained by visiting www.iShares.com or www.blackrock.com. Read the prospectus carefully before investing.

投资涉及风险，包括校长可能损失。

固定收入风险包括利率和信贷风险。通常，当利率上升时，债券值的相应下降。信用风险是指债券发行人将无法制定本金和利息的可能性。非投资级债务证券（高收益/垃圾债券）可能会受到更大的市场波动，违约风险或收入损失和校长的股票和均优于较高的证券。

国际投资涉及风险，包括与外币有关的风险，有限的流动资金，政府监管，由于政治，经济或其他发展而导致的大量波动的可能性。在新兴/发展市场和浓度的单一国家的投资，这些风险往往提高了。专注于特定行业，行业，市场或资产课程的投资的资金可能表现不足或比其他行业，部门，市场或资产课程和一般证券市场更有挥发。

Transactions in shares of ETFs may result in brokerage commissions and will generate tax consequences. All regulated investment companies are obliged to distribute portfolio gains to shareholders. There can be no assurance that an active trading market for shares of an ETF will develop or be maintained.

Shares of ETFs may be bought and sold throughout the day on the exchange through any brokerage account. Shares are not individually redeemable from an ETF, however, shares may be redeemed directly from an ETF by Authorized Participants, in very large creation/redemption units.

This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. This material is strictly for illustrative, educational, or informational purposes and is subject to change.

Ishares和Blackrock资金由Blackrock Investments，LLC（与其关联公司）一起分发，“Blackrock”）。

This study was sponsored by BlackRock. BlackRock is not affiliated with Institutional Investor or any of their affiliates.

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