“As assets in U.S. exchange-traded funds hit a record of more than $700 billion last year, ETF providers are sprouting faster than you can say ETF boom. Indeed, there are now nearly 30,” Sheryl Nance-Nash Reports From Daily Finance.

Nance-Nash Continues to say, “BlackRock’s (BLK) iShares wears the crown as largest ETF provider in the U.S. with $360 billion in assets, followed by State Street (STT) and Vanguard, but new players have emerged like Charles Schwab (SCHW) and PIMCO. Others have announced plans to get in on the game, too, such as T. Rowe Price (TROW), Putnam, TD Ameritrade (AMTD) and Goldman Sachs (GS). There’s an array of choices. Does it matter where you go, or are other criteria just as important when you decide to add ETFs to your investment mix”

“When we are looking at ETFs and the underlying index is offered through multiple providers, cost is a primary factor, with support and service a close second,” says Randy Brown, chief wealth strategist of Briteline Wealth Management. Many times, when he looks for an index or sector fund that may only be offered through one or two providers, then it’s all about being the right fit, he adds.

All providers are not the same. There are differences in both offerings and cost. “If there are a number of ETFs representing a certain area, such as in Treasury bonds or small caps, investors should use the competition to their advantage and research the players,” says Tom Lydon, president of Global Trends Investments. Many providers are known for something and have expertise in a particular area (PIMCO with bonds, for example), and investors should educate themselves on that front too, so they can take advantage of the knowledge, says Lydon.

Taking a good look at providers in terms of cost, service and specialty is just a first step in ETF investing. Products need to be carefully studied and completely understood before any investor should consider making an investment allocation to one of them, says Kevin Mahn, portfolio manager of the SmartGrowth Funds. “Due diligence becomes of paramount importance,” Mahn says. “It is true that all exchange-traded products are not created equal. Starting with the differences between exchange-traded funds and exchange-traded notes and ranging to the differences between the many available passive and active strategies in the marketplace today.”

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