Exchange-traded funds are hot. The ETF industry has been growing at a rapid pace since the launch of the first ETF nearly 20 years ago.

Now investors have access to nearly 3,000 ETFs globally from 146 providers listed on 49 exchanges with assets worth more than $1.4 trillion, of which the European market makes up €216bn. But the proliferation of ETFs has also given rise to confusion amongst investors, making the process of screening ETF products more challenging.