Who manages ETFs?

ETFs are run by an issuer (also called the sponsor), such as Vanguard, iShares/BlackRock, State Street, Invesco, and many others. The issuer handles operations, disclosures, and portfolio management (directly for active funds, or via rules for index funds).

For an index ETF, "management" mainly means tracking the index: handling rebalances, corporate actions, cash management, and keeping costs low. For an actively managed ETF, a named portfolio manager (or team) makes security selection and trading decisions.

If you want to know who manages a specific ETF, check the fund's website or prospectus—there's usually a section listing the adviser and, for active funds, the portfolio managers.