More ETFs Than Stocks | The Daily Spark
Log In
What We Do
Explore our investment strategies, solutions, and products designed to support diverse financial goals.
Strategies
Solutions
Investment Products
Credit
Equity
Real Assets
Family Office
Retirement
Wealth Solutions
Apollo's Differentiated Strategy
Marc Rowan on how Apollo’s differentiated strategy was built for this moment.
Advisor Resources
Tools and training for advisors, offering portfolio guidance, and on-demand educational resources.
Allocation Pro
Apollo Academy
Join the Academy
Visit Our Learning Center
Register Now: 2026 Outlook
Watch the Class | Apollo Academy
Insights & News
Discover Apollo’s latest perspectives, case studies, research and analysis shaping conversations about private markets.
Insights
Media
Read The Daily Spark
Subscribe to The Daily Spark
Beyond the Middle Market: Private Equity Investing for a More Demanding Regime
As private equity evolves and advantages in the middle market become less reliable, scale, specialization and portfolio construction are becoming key drivers of performance in a more competitive environment.
Private Equity Returns to Its Roots
How back-to-basics value creation can drive alpha in 2026 and beyond.
About Apollo
Learn about our firm, our purpose and values, our people and where we are around the world.
About Apollo
Our People
Contact Us
Apollo In the News
Log In
What We Do
Advisor Resources
Insights & News
About Apollo
Back
What We Do
Explore our investment strategies, solutions, and products designed to support diverse financial goals.
Strategies
Solutions
Investment Products
Apollo's Differentiated Strategy
Marc Rowan on how Apollo’s differentiated strategy was built for this moment.
Back
Advisor Resources
Tools and training for advisors, offering portfolio guidance, and on-demand educational resources.
Allocation Pro
Apollo Academy
Register Now: 2026 Outlook
Watch the Class | Apollo Academy
Back
Insights & News
Discover Apollo’s latest perspectives, case studies, research and analysis shaping conversations about private markets.
Insights
Media
Read The Daily Spark
Subscribe to The Daily Spark
Beyond the Middle Market: Private Equity Investing for a More Demanding Regime
As private equity evolves and advantages in the middle market become less reliable, scale, specialization and portfolio construction are becoming key drivers of performance in a more competitive environment.
Private Equity Returns to Its Roots
How back-to-basics value creation can drive alpha in 2026 and beyond.
Back
About Apollo
Learn about our firm, our purpose and values, our people and where we are around the world.
About Apollo
Our People
Contact Us
Apollo In the News
Back to What We Do
Strategies
Credit
Equity
Real Assets
Back to What We Do
Solutions
Family Office
Retirement
Wealth Solutions
Back to What We Do
Investment Products
Back to Advisor Resources
Allocation Pro
Back to Advisor Resources
Apollo Academy
Join the Academy
Visit Our Learning Center
Back to Insights & News
Insights
Back to Insights & News
Media
Back to Insights & News
Read The Daily Spark
Back to Insights & News
Subscribe to The Daily Spark
Back to About Apollo
About Apollo
Back to About Apollo
Our People
Back to About Apollo
Contact Us
Back to Strategies
Credit
Back to Strategies
Equity
Back to Strategies
Real Assets
Back to Solutions
Family Office
Back to Solutions
Retirement
Back to Solutions
Wealth Solutions
Back to Apollo Academy
Join the Academy
Back to Apollo Academy
Visit Our Learning Center
Search
Search
SUGGESTED SEARCH TERMS
Financial Markets & Risk Dynamics
May 26, 2026
More ETFs Than Stocks
About the Author
Torsten<br>Slok
Partner, Chief Economist
Share
The number of publicly listed companies keeps declining, and there are now more ways to trade the market than there are stocks in the market, see chart below.
1 page
Sources: ICI, WFE, Haver Analytics, Apollo Chief Economist
Download high-res chart
Disclosures
This presentation may not be distributed, transmitted or otherwise communicated to others in whole or in part without the express consent of Apollo Global Management, Inc. (together with its subsidiaries, “Apollo”).\r\n\r\nApollo makes no representation or warranty, expressed or implied, with respect to the accuracy, reasonableness, or completeness of any of the statements made during this presentation, including, but not limited to, statements obtained from third parties. Opinions, estimates and projections constitute the current judgment of the speaker as of the date indicated. They do not necessarily reflect the views and opinions of Apollo and are subject to change at any time without notice. Apollo does not have any responsibility to update this presentation to account for such changes. There can be no assurance that any trends discussed during this presentation will continue.\r\n\r\nStatements...