North America sees a record level of ETF advertising

Asset managers dedicated 72% of their total advertising to the promotion of ETFs, according to data by Fundamental Monitor

Key points:

• Equities advertising also increased from 9% in Q4 2024 to 16% in Q1 2025, while fixed income advertising fell from 8% to 6% during the same period.
• Despite ETFs accounting for almost three-quarters of all advertising, there were fewer asset managers promoting the asset class during Q1, down from 48 to 43.
• Advertisers in North America moved further towards fund promotion during Q1, allocating 72% of all their advertising to the promotion of specific funds.

The promotion of ETFs accounted for 72% of all asset management advertising in North America during Q1 2025, the highest percentage seen since the start of 2020 and significantly higher than the previous record of 58% in Q4 2024.

Equities advertising also increased from 9% in Q4 2024 to 16% in Q1 2025, while fixed income advertising fell from 8% to 6% during the same period. The promotion of multi asset and ESG was almost non-existent during the first quarter of the year.

Despite ETFs accounting for almost three-quarters of all advertising, there were fewer asset managers promoting the asset class during Q1, down from 48 to 43. There were 19 asset managers promoting equities, down from 23, and 22 fixed income advertisers, down from 28.

Advertisers in North America moved further towards fund promotion during Q1, allocating 72% of all their advertising to the promotion of specific funds. Insights promotion accounted for 14% and brand campaigns fell to 11%.

Data by Alphix Solutions, Fundamental Group’s marketing technology business, shows that North American investors consumed less equities content on asset managers’ websites during January and February compared to the 365-day rolling average, but more during March.

ETF content was consumed more during the first half of the quarter, by between 11% and 24% depending on the week, but less during the second half, by between 2% and 26%. Meanwhile, fixed income content consumption was mostly down during the quarter, with only two weeks in February when consumption was up slightly.

Below are some examples of the type of campaigns that were in market in North America during Q1 2025:

Fund promotion – Grayscale

ETFs – Global X

Equities – WisdomTree