JPMorgan's fledgling exchange traded funds business in Europe has amassed $500m less than a year after launching — more than double the amount raised by rival Fidelity International for its new ETF venture.

Both JPMorgan Asset Management and Fidelity announced their entry into Europe’s fiercely-competitive ETF industry during 2017, both relying on their respective brand recognition and experience in the US market to gain a foothold.