There's an ETF for that: Industry sets record

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Exchange-traded funds are expanding their quest to take over the investing world.

The $2.1 trillion industry already has set a record in 2015 for fund creation with 2½ months to go. Some 231 new funds have been added as of Wednesday to the increasingly diverse stable of vehicles that look like mutual funds but mostly follow indexes and can be traded like stocks.

That total is more than the 202 ETFs created in all of 2014 and represents 38 percent growth from the same period last year, at which time there had been 167 new funds created, according to ETF.com.