SEC Publishes Data on Exchange Traded Funds and Fund Mergers; Updated Statistics on Municipal Advisors' Transfer Agents, and Security-Based Swap Dealers

February 5, 2026-The Securities and Exchange Commission's Division of Economic and Risk Analysis (DERA) has published two new reports on exchange traded funds and fund mergers, and updated statistics and data visualizations on municipal advisors, transfer agents, and security-based swap dealers (SBSDs).

The reports provide the public with information about the growth in active ETFs and the changes in fees paid by investors when mutual funds and ETFs acquire other funds.

"With more than 3600 ETFs holding assets exceeding $10 trillion, understanding this market is critical, not just because of its size, but because of its evolving dynamics" said Dr. Joshua T. White, Chief Economist and Director of the SEC’s Division of Economic and Risk Analysis. "Active ETFs, while still a smaller segment of the market, are growing rapidly and now rival passive funds in number, reflecting a shift toward more actively managed strategies. At the same time, our research shows that fund mergers can deliver meaningful fee reductions for investors. These trends highlight the importance of ongoing analysis to ensure transparency and resilience in this fast-changing landscape."

The two reports issued today are:

The Fast-Growing Market of Active ETFs examines the general characteristics of active ETFs.

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Source: sec.gov