Companies that Create and Issue ETFs
ETFs are created and managed by asset management companies (ETF issuers/sponsors). They design the fund, file with the SEC, handle creation/redemption, and manage the portfolio. Here are the major ETF issuers as of late 2025, ranked roughly by assets under management (AUM) in the U.S. market:
| Rank | Issuer (Brand) | Key Notes | Approximate Market Share/AUM Dominance |
|---|---|---|---|
| 1 | BlackRock (iShares) | Largest globally; issues funds like AAXJ (the Asia ex Japan ETF discussed previously). | ~31% market share |
| 2 | Vanguard | Known for ultra-low fees; second-largest. | ~29% market share |
| 3 | State Street Global Advisors (SPDR) | Pioneer of ETFs (launched first U.S. ETF in 1993). | ~13-15% market share |
| 4 | Invesco (Invesco QQQ, etc.) | Strong in thematic and sector ETFs. | Top 5 |
| 5 | Charles Schwab | Low-cost options, popular dividend ETFs. | Top 5 |
Other notable issuers include:
- Fidelity
- First Trust
- JPMorgan
- VanEck
- ProShares
- Direxion
- Global X
- GraniteShares
These companies “create” ETFs by launching new funds, and each ETF receives a unique CUSIP from CGS upon issuance. The top three (BlackRock, Vanguard, State Street) control over 70% of the U.S. ETF market.
The CUSIP for the iShares MSCI All Country Asia ex Japan ETF (ticker: AAXJ, NASDAQ-listed) is indeed 464288182.This is confirmed directly from BlackRock/iShares official fact sheets and product documentation (e.g., as of mid-2025 data), as well as multiple financial databases like ETF.com and Bloomberg. Note that while some regional listings or similar funds might use “AXJ” as a ticker elsewhere, the primary US ETF matching this exact name has ticker AAXJ and the stated CUSIP.
The cheapest way to invest in “AXJ” ( Actions for Justice ) depends on your location, brokerage, and whether you’re targeting the exact iShares MSCI All Country Asia ex Japan ETF or a close equivalent.
“AXJ” refers to broad equity exposure to Asia excluding Japan (like the iShares fund with US ticker AAXJ, CUSIP 464288182). Since there is no major ETF with the exact ticker “AXJ” on exchanges like SGX, ASX, or HKEX—the closest are variants like the iShares Core MSCI AC Asia ex Japan ETF on HKEX (ticker 3010.HK) or climate-focused ones on SGX.
Cheapest Options (as of late 2025):
- Buy the US-listed iShares MSCI All Country Asia ex Japan ETF (AAXJ) – Expense ratio: ~0.70% p.a.
- Why cheapest overall? Many brokers offer commission-free trades for US ETFs, and it’s highly liquid (daily volume often >100k shares).
- Best brokers for low/no fees:
- Fidelity, Vanguard, Charles Schwab, or Robinhood (US-based: $0 commissions, no FX fees if USD account).
- Interactive Brokers (global, including US/Asia users): Very low commissions (~$0.005/share) + low FX conversion.
- If you’re outside the US, check for foreign ordinary withholding or access issues—some platforms like Saxo or Tiger Brokers provide easy US ETF access with low fees.
- Minimum: Often just 1 share (~$90-95 as of Dec 2025).
- Asian-listed equivalent: iShares Core MSCI AC Asia ex Japan ETF (3010.HK on HKEX) – Expense ratio: Typically lower than AAXJ (~0.20-0.30% p.a.).
- Tracks nearly the same index.
- Accessible via Hong Kong brokers (e.g., HSBC, Futu, Tiger) or international ones like IBKR.
- Often lower ongoing costs and potentially better tax treatment for Asian residents.
- Trading fees are low on HKEX, and no stamp duty for ETFs.
- Even lower-cost alternatives (similar Asia ex Japan exposure):
- Vanguard or Amundi ETFs tracking similar indices (e.g., FTSE or MSCI Asia Pacific ex Japan) on European/Australian exchanges—some with TER as low as 0.15-0.25% p.a.
- For emerging markets focus: Cheaper EM Asia ETFs like those from Xtrackers or iShares with TER ~0.18%.
Tips to Minimize Costs:
- Use a zero-commission broker for the initial purchase.
- Avoid frequent trading to minimize spreads/bid-ask costs.
- Hold long-term to let the low expense ratio compound.
- If creating your own “synthetic” exposure (buying individual stocks), it’s more expensive due to multiple commissions and higher risk—not recommended unless very large amounts.
- We are presently entertaining offers to create and promote the AXJ and AXJ.NEWS world wide.