Trading · authorized participant (AP)
Morgan Stanley & Co. LLC
Morgan Stanley & Co. LLC was an authorized participant (AP) for 2,303 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026. It created $306.0bn and redeemed $268.0bn of their shares. It was active in 445 of them.
morganstanley.com, the firm’s website ↗| # | Ticker | Fund | Category | Created | Redeemed | Created and redeemed ↓ | Share of the fund’s AP dollars | Active APs in the fund | Period ending |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SPY | SPDR S&P 500 ETF Trust | U.S. stocks | $88.0bn | $86.5bn | $174.4bn | 8.3% | 26 | Dec 31, 2025 |
| 2 | IVV | iShares Core S&P 500 ETF | U.S. stocks | $29.3bn | $24.7bn | $54.1bn | 6.7% | 25 | Mar 31, 2026 |
| 3 | VOO | Vanguard S&P 500 ETF | U.S. stocks | $18.3bn | $16.8bn | $35.1bn | 5.8% | 21 | Dec 31, 2025 |
| 4 | IWM | iShares Russell 2000 ETF | U.S. stocks | $15.0bn | $11.7bn | $26.7bn | 10.5% | 15 | Mar 31, 2026 |
| 5 | LQD | iShares iBoxx $ Investment Grade Corporate Bond ETF | Bonds | $11.0bn | $4.3bn | $15.3bn | 12.5% | 11 | Feb 28, 2026 |
| 6 | DIA | SPDR Dow Jones Industrial Average ETF Trust | U.S. stocks | $7.2bn | $6.0bn | $13.3bn | 9.7% | 15 | Dec 31, 2025 |
| 7 | RSP | Invesco S&P 500 Equal Weight ETF | U.S. stocks | $5.2bn | $5.7bn | $10.9bn | 14.7% | 19 | Apr 30, 2026 |
| 8 | KRE | State Street SPDR S&P Regional Banking ETF | Sector stocks | $5.3bn | $5.2bn | $10.4bn | 19.2% | 17 | Jun 30, 2026 |
| 9 | VO | Vanguard Morningstar Mid-Cap ETF | U.S. stocks | $4.9bn | $4.9bn | $9.7bn | 19.9% | 14 | Dec 31, 2025 |
| 10 | SPYM | State Street SPDR Portfolio S&P 500 ETF | U.S. stocks | $6.0bn | $3.7bn | $9.7bn | 7.7% | 18 | Jun 30, 2026 |
| 11 | VCIT | Vanguard Intermediate-Term Corporate Bond ETF | Bonds | $3.6bn | $4.5bn | $8.1bn | 16.9% | 11 | Aug 31, 2025 |
| 12 | XBI | State Street SPDR S&P Biotech ETF | Themes | $4.0bn | $3.8bn | $7.8bn | 12.9% | 19 | Jun 30, 2026 |
| 13 | XLF | State Street Financial Select Sector SPDR ETF | Sector stocks | $3.9bn | $3.2bn | $7.2bn | 5.4% | 21 | Sep 30, 2025 |
| 14 | MDY | SPDR S&P MidCap 400 ETF Trust | U.S. stocks | $3.7bn | $2.7bn | $6.4bn | 19.4% | 14 | Dec 31, 2025 |
| 15 | XLC | State Street Communication Services Select Sector SPDR ETF | Sector stocks | $3.2bn | $2.8bn | $6.0bn | 16.9% | 18 | Sep 30, 2025 |
| 16 | IWP | iShares Russell Mid-Cap Growth ETF | U.S. stocks | $2.8bn | $2.8bn | $5.6bn | 45.2% | 13 | Mar 31, 2026 |
| 17 | VCLT | Vanguard Long-Term Corporate Bond ETF | Bonds | $2.1bn | $3.1bn | $5.3bn | 17.3% | 9 | Aug 31, 2025 |
| 18 | SOXX | iShares Semiconductor ETF | Themes | $2.4bn | $2.8bn | $5.2bn | 5.7% | 18 | Mar 31, 2026 |
| 19 | VCSH | Vanguard Short-Term Corporate Bond ETF | Bonds | $2.4bn | $2.6bn | $5.0bn | 15.7% | 10 | Aug 31, 2025 |
| 20 | VTV | Vanguard Morningstar Value ETF | U.S. stocks | $2.4bn | $2.5bn | $5.0bn | 9.9% | 13 | Dec 31, 2025 |
| 21 | HYG | iShares iBoxx $ High Yield Corporate Bond ETF | Bonds | $295m | $4.3bn | $4.6bn | 6.7% | 8 | Feb 28, 2026 |
| 22 | QQQM | Invesco NASDAQ 100 ETF | U.S. stocks | $2.3bn | $2.0bn | $4.3bn | 12.3% | 14 | Aug 31, 2025 |
| 23 | VOE | Vanguard Morningstar Mid-Cap Value ETF | U.S. stocks | $1.8bn | $1.8bn | $3.5bn | 37.7% | 12 | Dec 31, 2025 |
| 24 | SPLV | Invesco S&P 500 Low Volatility ETF | U.S. stocks | $1.6bn | $1.7bn | $3.3bn | 35.9% | 13 | Aug 31, 2025 |
| 25 | MGK | Vanguard Morningstar Mega Cap Growth ETF | U.S. stocks | $1.6bn | $1.6bn | $3.2bn | 28.5% | 12 | Sep 30, 2025 |
| 26 | XRT | State Street SPDR S&P Retail ETF | Sector stocks | $1.6bn | $1.5bn | $3.1bn | 12.1% | 19 | Jun 30, 2026 |
| 27 | IGV | iShares Expanded Tech-Software Sector ETF | Themes | $1.6bn | $1.3bn | $3.0bn | 6.1% | 15 | Mar 31, 2026 |
| 28 | IUSG | iShares Core S&P U.S. Growth ETF | U.S. stocks | $1.4bn | $1.5bn | $2.9bn | 37.8% | 9 | Mar 31, 2026 |
| 29 | TLT | iShares 20+ Year Treasury Bond ETF | Bonds | $1.1bn | $1.8bn | $2.9bn | 2.6% | 12 | Feb 28, 2026 |
| 30 | XOP | State Street SPDR S&P Oil & Gas Exploration & Production ETF | Sector stocks | $1.4bn | $1.4bn | $2.8bn | 12.4% | 16 | Jun 30, 2026 |
| 31 | JAAA | Janus Henderson AAA CLO ETF | Bonds | $2.5bn | $314m | $2.8bn | 7.8% | 10 | Oct 31, 2025 |
| 32 | CGDV | Capital Group Dividend Value ETF | U.S. stocks | $1.4bn | $1.4bn | $2.8bn | 8.8% | 11 | May 31, 2026 |
| 33 | TIP | iShares TIPS Bond ETF | Bonds | $1.3bn | $1.4bn | $2.8bn | 14.9% | 8 | Oct 31, 2025 |
| 34 | XLV | State Street Health Care Select Sector SPDR ETF | Sector stocks | $1.7bn | $1.0bn | $2.7bn | 4.6% | 23 | Sep 30, 2025 |
| 35 | IYR | iShares U.S. Real Estate ETF | Sector stocks | $1.1bn | $1.6bn | $2.7bn | 10.4% | 18 | Mar 31, 2026 |
| 36 | IWB | iShares Russell 1000 ETF | U.S. stocks | $1.3bn | $1.3bn | $2.7bn | 7.3% | 15 | Mar 31, 2026 |
| 37 | XLE | State Street Energy Select Sector SPDR ETF | Sector stocks | $1.2bn | $1.4bn | $2.6bn | 5.7% | 21 | Sep 30, 2025 |
| 38 | USMV | iShares MSCI USA Min Vol Factor ETF | U.S. stocks | $1.4bn | $872m | $2.3bn | 16.3% | 14 | Jul 31, 2025 |
| 39 | IEF | iShares 7-10 Year Treasury Bond ETF | Bonds | $1.4bn | $865m | $2.3bn | 5.3% | 9 | Feb 28, 2026 |
| 40 | IBB | iShares Biotechnology ETF | Themes | $1.3bn | $893m | $2.2bn | 10.7% | 15 | Mar 31, 2026 |
| 41 | XLP | State Street Consumer Staples Select Sector SPDR ETF | Sector stocks | $1.5bn | $669m | $2.2bn | 5.0% | 23 | Sep 30, 2025 |
| 42 | IXUS | iShares Core MSCI Total International Stock ETF | International stocks | $2.1bn | $0 | $2.1bn | 56.9% | 9 | Jul 31, 2025 |
| 43 | IJR | iShares Core S&P Small-Cap ETF | U.S. stocks | $1.0bn | $862m | $1.9bn | 7.1% | 15 | Mar 31, 2026 |
| 44 | SMH | VanEck Semiconductor ETF | Themes | $1.1bn | $742m | $1.9bn | 2.7% | 17 | Sep 30, 2025 |
| 45 | VEA | Vanguard FTSE Developed Markets ETF | International stocks | $1.9bn | $0 | $1.9bn | 11.1% | 9 | Dec 31, 2025 |
| 46 | STIP | iShares 0-5 Year TIPS Bond ETF | Bonds | $1.4bn | $409m | $1.8bn | 23.4% | 7 | Oct 31, 2025 |
| 47 | SHY | iShares 1-3 Year Treasury Bond ETF | Bonds | $1.4bn | $422m | $1.8bn | 9.0% | 9 | Feb 28, 2026 |
| 48 | DVY | iShares Select Dividend ETF | U.S. stocks | $893m | $876m | $1.8bn | 43.4% | 10 | Apr 30, 2026 |
| 49 | XHB | State Street SPDR S&P Homebuilders ETF | Sector stocks | $789m | $844m | $1.6bn | 15.2% | 15 | Jun 30, 2026 |
| 50 | ITA | iShares U.S. Aerospace & Defense ETF | Themes | $814m | $811m | $1.6bn | 13.2% | 11 | Mar 31, 2026 |
| 51 | XSD | State Street SPDR S&P Semiconductor ETF | Themes | $765m | $814m | $1.6bn | 48.5% | 9 | Jun 30, 2026 |
| 52 | XLI | State Street Industrial Select Sector SPDR ETF | Sector stocks | $734m | $843m | $1.6bn | 3.0% | 23 | Sep 30, 2025 |
| 53 | VOT | Vanguard Morningstar Mid-Cap Growth ETF | U.S. stocks | $791m | $768m | $1.6bn | 15.7% | 12 | Dec 31, 2025 |
| 54 | SPIB | State Street SPDR Portfolio Intermediate Term Corporate Bond ETF | Bonds | $1.2bn | $317m | $1.5bn | 3.1% | 12 | Jun 30, 2026 |
| 55 | IYW | iShares U.S. Technology ETF | Sector stocks | $698m | $842m | $1.5bn | 10.4% | 13 | Apr 30, 2026 |
| 56 | SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | U.S. stocks | $643m | $853m | $1.5bn | 7.8% | 12 | Jun 30, 2026 |
| 57 | ITB | iShares U.S. Home Construction ETF | Sector stocks | $757m | $720m | $1.5bn | 12.9% | 15 | Mar 31, 2026 |
| 58 | DGRO | iShares Core Dividend Growth ETF | U.S. stocks | $714m | $711m | $1.4bn | 13.5% | 12 | Apr 30, 2026 |
| 59 | IEI | iShares 3-7 Year Treasury Bond ETF | Bonds | $1.1bn | $329m | $1.4bn | 11.7% | 6 | Feb 28, 2026 |
| 60 | VUG | Vanguard Morningstar Growth ETF | U.S. stocks | $797m | $510m | $1.3bn | 1.7% | 14 | Dec 31, 2025 |
| 61 | CGGR | Capital Group Growth ETF | U.S. stocks | $745m | $478m | $1.2bn | 8.6% | 13 | May 31, 2026 |
| 62 | XME | State Street SPDR S&P Metals & Mining ETF | Themes | $591m | $578m | $1.2bn | 10.7% | 15 | Jun 30, 2026 |
| 63 | SPYV | State Street SPDR Portfolio S&P 500 Value ETF | U.S. stocks | $517m | $642m | $1.2bn | 5.2% | 13 | Jun 30, 2026 |
| 64 | KOMP | State Street SPDR S&P Kensho New Economies Composite ETF | U.S. stocks | $565m | $573m | $1.1bn | 42.4% | 9 | Jun 30, 2026 |
| 65 | XLK | State Street Technology Select Sector SPDR ETF | Sector stocks | $160m | $943m | $1.1bn | 2.4% | 18 | Sep 30, 2025 |
| 66 | IWY | iShares Russell Top 200 Growth ETF | U.S. stocks | $523m | $577m | $1.1bn | 23.4% | 8 | Mar 31, 2026 |
| 67 | VB | Vanguard Morningstar Small-Cap ETF | U.S. stocks | $528m | $524m | $1.1bn | 4.2% | 14 | Dec 31, 2025 |
| 68 | KBE | State Street SPDR S&P Bank ETF | Sector stocks | $695m | $340m | $1.0bn | 17.0% | 14 | Jun 30, 2026 |
| 69 | JGLO | JPMorgan Global Select Equity ETF | International stocks | $371m | $633m | $1.0bn | 24.5% | 7 | Oct 31, 2025 |
| 70 | RDIV | Invesco S&P Ultra Dividend Revenue ETF | U.S. stocks | $501m | $498m | $999m | 90.8% | 8 | Aug 31, 2025 |
| 71 | IWO | iShares Russell 2000 Growth ETF | U.S. stocks | $521m | $475m | $996m | 14.0% | 11 | Mar 31, 2026 |
| 72 | EMB | iShares J.P. Morgan USD Emerging Markets Bond ETF | Bonds | $457m | $524m | $982m | 5.3% | 6 | Oct 31, 2025 |
| 73 | XLU | State Street Utilities Select Sector SPDR ETF | Sector stocks | $371m | $550m | $921m | 3.2% | 22 | Sep 30, 2025 |
| 74 | IHDG | WisdomTree International Hedged Quality Dividend Growth Fund | International stocks | $453m | $454m | $907m | 49.2% | 6 | Mar 31, 2026 |
| 75 | XLY | State Street Consumer Discretionary Select Sector SPDR ETF | Sector stocks | $399m | $464m | $862m | 2.3% | 16 | Sep 30, 2025 |
| 76 | ARKK | ARK Innovation ETF | Themes | $632m | $203m | $836m | 3.8% | 15 | Jul 31, 2025 |
| 77 | SPSB | State Street SPDR Portfolio Short Term Corporate Bond ETF | Bonds | $827m | $0 | $827m | 8.2% | 11 | Jun 30, 2026 |
| 78 | XLB | State Street Materials Select Sector SPDR ETF | Sector stocks | $450m | $349m | $798m | 4.2% | 20 | Sep 30, 2025 |
| 79 | OIH | VanEck Oil Services ETF | Sector stocks | $422m | $373m | $795m | 13.0% | 13 | Dec 31, 2025 |
| 80 | IEFA | iShares Core MSCI EAFE ETF | International stocks | $758m | $0 | $758m | 8.0% | 8 | Jul 31, 2025 |
| 81 | KLMN | Invesco MSCI North America Climate ETF | U.S. stocks | $674m | $72.7m | $747m | 11.2% | 7 | Aug 31, 2025 |
| 82 | JNK | State Street SPDR Bloomberg High Yield Bond ETF | Bonds | $311m | $424m | $735m | 2.9% | 8 | Jun 30, 2026 |
| 83 | SCZ | iShares MSCI EAFE Small-Cap ETF | International stocks | $638m | $85.0m | $723m | 29.2% | 6 | Jul 31, 2025 |
| 84 | SPMD | State Street SPDR Portfolio S&P 400 Mid Cap ETF | U.S. stocks | $327m | $395m | $722m | 9.9% | 14 | Jun 30, 2026 |
| 85 | FNDF | Schwab Fundamental International Equity ETF | International stocks | $399m | $290m | $689m | 17.8% | 8 | Feb 28, 2026 |
| 86 | BBEU | JPMorgan BetaBuilders Europe ETF | International stocks | $429m | $260m | $689m | 8.8% | 6 | Oct 31, 2025 |
| 87 | IWN | iShares Russell 2000 Value ETF | U.S. stocks | $391m | $296m | $687m | 11.6% | 11 | Mar 31, 2026 |
| 88 | IWF | iShares Russell 1000 Growth ETF | U.S. stocks | $460m | $209m | $669m | 1.7% | 13 | Mar 31, 2026 |
| 89 | VXF | Vanguard Extended Market ETF | U.S. stocks | $10.3m | $653m | $664m | 2.3% | 16 | Dec 31, 2025 |
| 90 | MTUM | iShares MSCI USA Momentum Factor ETF | U.S. stocks | $548m | $104m | $651m | 4.0% | 13 | Jul 31, 2025 |
| 91 | SPSM | State Street SPDR Portfolio S&P 600 Small Cap ETF | U.S. stocks | $272m | $353m | $625m | 10.7% | 11 | Jun 30, 2026 |
| 92 | IGSB | iShares 1-5 Year Investment Grade Corporate Bond ETF | Bonds | $585m | $26.2m | $611m | 3.6% | 8 | Feb 28, 2026 |
| 93 | EFA | iShares MSCI EAFE ETF | International stocks | $517m | $91.4m | $608m | 25.4% | 7 | Jul 31, 2025 |
| 94 | IWD | iShares Russell 1000 Value ETF | U.S. stocks | $448m | $129m | $577m | 1.8% | 12 | Mar 31, 2026 |
| 95 | BKLN | Invesco Senior Loan ETF | Bonds | $524m | $50.2m | $575m | 4.7% | 16 | Aug 31, 2025 |
| 96 | FDN | First Trust Dow Jones Internet Index Fund | Themes | $179m | $382m | $561m | 3.1% | 12 | Dec 31, 2025 |
| 97 | VTWO | Vanguard Russell 2000 ETF | U.S. stocks | $218m | $323m | $540m | 5.5% | 14 | Aug 31, 2025 |
| 98 | VGIT | Vanguard Intermediate-Term Treasury ETF | Bonds | $537m | $0 | $537m | 3.8% | 7 | Aug 31, 2025 |
| 99 | SHV | iShares 0-1 Year Treasury Bond ETF | Bonds | $364m | $169m | $533m | 2.8% | 7 | Feb 28, 2026 |
| 100 | XMHQ | Invesco S&P MidCap Quality ETF | U.S. stocks | $261m | $264m | $525m | 27.4% | 10 | Apr 30, 2026 |
Morgan Stanley & Co. LLC as an ETF authorized participant: the 100 funds it created and redeemed most in, of 445, ranked by what it created and redeemed, in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026. Source: ETFIQ from Form N-CEN.
Morgan Stanley & Co. by category
The ETFs Morgan Stanley & Co. LLC serves, by the category each is placed in, with what it created and redeemed in each.
| # | Category | Share of its dollars | ETFs served | Active in | Created | Redeemed | Only active AP in |
|---|---|---|---|---|---|---|---|
| 1 | U.S. stocks | 71.3% | 560 | 139 | $212.9bn | $196.1bn | 0 |
| 2 | International stocks | 2.9% | 413 | 83 | $12.0bn | $4.8bn | 0 |
| 3 | Sector stocks | 9.6% | 165 | 69 | $28.0bn | $27.0bn | 0 |
| 4 | Bonds | 11.3% | 585 | 96 | $38.3bn | $26.7bn | 0 |
| 5 | Commodities | 0.0% | 12 | 1 | $0 | $36.4m | 0 |
| 6 | Allocation | 0.0% | 20 | 0 | $0 | $0 | 0 |
| 7 | Buffer | 0.0% | 103 | 0 | $0 | $0 | 0 |
| 8 | Income | 0.0% | 68 | 4 | $161m | $13.2m | 0 |
| 9 | Themes | 4.8% | 204 | 42 | $14.5bn | $13.2bn | 0 |
| 10 | Leverage | 0.0% | 142 | 8 | $53.8m | $76.2m | 0 |
| 11 | Crypto | 0.0% | 2 | 0 | $0 | $0 | 0 |
| 12 | Alternatives | 0.0% | 29 | 3 | $14.4m | $27.6m | 0 |
Questions people ask
Is Morgan Stanley & Co. an ETF authorized participant (AP)?
Yes. Morgan Stanley & Co. LLC is listed as an AP for 2,303 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026, and created or redeemed shares in 445 of them.
Which ETFs does Morgan Stanley & Co. create and redeem the most?
By dollars created and redeemed: SPY, $174.4bn; IVV, $54.1bn; VOO, $35.1bn; IWM, $26.7bn; LQD, $15.3bn.
How much of an ETF’s AP activity does Morgan Stanley & Co. handle?
Across the 445 funds it was active in, its share of each fund’s AP dollars ran from 0.0% to 94.6%. It was the only active AP in 0 ETFs.
Where do these figures come from?
From item E.2 of each ETF’s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Morgan Stanley & Co.’s CRD, SEC file number and LEI, never by the name as typed.
Method
Morgan Stanley & Co. LLC is identified by CRD 8209, SEC file number 8-15869, LEI 9R7GPTSO7KV3UQJZQ078. It is on the SEC’s list of active broker-dealers dated Oct 1, 2026 as MORGAN STANLEY & CO. LLC. Funds filed its name 10 ways; every spelling is in dealers.json. Every row is one authorized participant (AP) listed in item E.2 of an ETF’s latest Form N-CEN, with the dollars of the fund’s shares it purchased from the fund (created) and redeemed in the fund’s reporting period, as filed. A fund’s period is its own fiscal year, or less where the filing says so, so a firm’s total adds periods that end on different days. Rows are grouped into firms by the identifiers each row carries: the CRD number first, the SEC file number and LEI where the CRD is missing or typed wrong, never by name. 71 of 75,056 rows carry a CRD their file number and LEI place on another firm, and are counted there.
The rest of the method
A firm’s name is its registration on the SEC’s list of active broker-dealers where it is on it. Spot crypto and commodity trusts and ETNs file no N-CEN and are not here.
Where to next
Most active APs for U.S. stock ETFs→Most active APs for international stock ETFs→Most active APs for sector stock ETFs→Every ETF authorized participant (AP)→The most active APs→Most active APs for U.S. stock ETFs→Most active APs for international stock ETFs→Most active APs for sector stock ETFs→Most active APs for bond ETFs→ETF lead market makers (LMMs)→How the AP list is built→The open data file→Fund flows→
Where these figures came from
SEC Form N-CEN data sets, the source of every AP row ↗Form N-CEN, item E.2: each authorized participant and its dollars ↗SEC list of active broker-dealers, the source of each firm’s registered name ↗
ETFIQ links to the documents behind every figure; a link is not an endorsement. A list of firms is not a rating or a recommendation.
Questions people ask
Is Morgan Stanley & Co. an ETF authorized participant (AP)?
Yes. Morgan Stanley & Co. LLC is listed as an AP for 2,303 US ETFs in Form N-CEN periods ending Sep 30, 2024 to Jun 30, 2026, and created or redeemed shares in 445 of them.
Which ETFs does Morgan Stanley & Co. create and redeem the most?
By dollars created and redeemed: SPY, $174.4bn; IVV, $54.1bn; VOO, $35.1bn; IWM, $26.7bn; LQD, $15.3bn.
How much of an ETF’s AP activity does Morgan Stanley & Co. handle?
Across the 445 funds it was active in, its share of each fund’s AP dollars ran from 0.0% to 94.6%. It was the only active AP in 0 ETFs.
Where do these figures come from?
From item E.2 of each ETF’s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Morgan Stanley & Co.’s CRD, SEC file number and LEI, never by the name as typed.
Cite this pageCitation, APA and Markdown
ETFIQ, Morgan Stanley & Co. LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/morgan-stanley/
ETFIQ. (Sep 23, 2026). Morgan Stanley & Co. LLC as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/morgan-stanley/
[Morgan Stanley & Co. LLC as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/morgan-stanley/)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.